BY PHUMELELE MKHONTA
MBABANE– “Entertainment is an integral part of life but emaSwati should implement their festive season budgets.”
This information was shared by Eswatini renowned Economist Thembinkosi Dube, who also doubles as a business strategist.
The festive season is known for impulsive buying, as people are excited to be reuniting with their families and friends. People are known to spend luxuriously on entertainment, trips and shopping, leading to a dreary January and challenges to make ends meet.
The Eswatini Positive News (EPN) news desk sought advice from the economist, who briefly explained how people should handle their finances this December.
Worth noting is that the festive season marked by Black Friday, which is on the last weekend of November. From then, the spirits among people shoots up and shopping becomes the order of the day.
Dube said people should be vigilant with how they use their money.
“It is a fact that people will want entertainment and that is a pivotal part of life, especially during this time of the year. However, the entertainment should not get out of control.
“People should budget and implement their budgets. If they have a suspicion some of the expenses might overlap they should reserve that money in their budgets,” he said.
The economist further said it was easy for people to get carried away and be engaged in activities which they did not plan for.
“It is very easy to get carried away in December and this is exactly what leads to the frustration in January- where expenses will still need to be attended to. To desist from the frustration, it is wise to stick to your budget.
“This will lead to a stress free January, knowing your account is set to cover all expenses,” said Dube.
Useful Money Saving Tips for the Festive Season:
- Lock some money away before the peak of events.
- Have a budget
- Take advantage of discount sales
- Shop/stock up in advance
- Plan your travel
- Book in advance
- Pair up to split finances
- Do not change money at the airport
- Limit outings
- Skip events with entrance fees
