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Worried that Easter spending might break the bank? Here are 5 ways you can be smart about your money

With rising prices in fuel and food many consumers will be worried if they will have enough money in their bank accounts. Picture: Karen Sandison/African News Agency(ANA)

With rising prices in fuel and food many consumers will be worried if they will have enough money in their bank accounts. Picture: Karen Sandison/African News Agency(ANA)

Published Apr 12, 2022

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Easter is a festive period where many families get together to enjoy the four days off from work and school.

However, with the rising prices in fuel and food, many consumers will be worried if they will have enough money in their bank accounts.

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With four days of holidays and families often getting together, it is no wonder that in 2021, Standard Bank reported a three-fold year-on-year increase in card transaction volumes over the Easter holidays compared to 2020, and the amount of money spent over Easter was up four times year-on-year.

Below are money tips to guide you ahead of Easter:

1. Budget

Create a budget plan that includes your income and a list of your expenses for the month, as well as provisions for an emergency. Then create a separate budget for your Easter that include expenses such as a family outing, Easter egg shopping, hot cross buns and, if possible, even a new outfit.

2. Shopping research

Shopping during a time of exorbitant prices can put a dent in anyone’s bank account. Before stepping out to do shopping, do your research. Look at the pamphlets or catalogues from the major retailers in the country and compare the prices of items. Make a list of all the items that you need to purchase, ensuring that you don’t go over your budget.

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3. Loyalty programmes

When you are doing your Easter shopping, take advantage of the points that you earn with loyalty programmes by using them to pay for your purchases. Certain retailers in the country offer the customers the option of subtracting the rand value of points accumulated from the overall total.

4. Keep your money safe

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Cybercriminals tend to target consumers over festive periods such as Easter and Christmas due to an increase in online activity and online shopping. As a consumer, be careful when making purchases online and sharing your banking information. Be vigilant. If it seems too good to be true, it probably is.

5. Staying in

Rather than going out every day of the Easter period, create activities and do things from the comfort of your own home. If you have kids, plan an Easter egg hunt or an egg painting competition to keep them busy or do a picnic as a fun family activity. Catch up on the movies and TV series that are on your Netflix list or spend time playing board games or cards.

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