The National Credit Regulator of South Africa are advising consumers to be cautious of there spending during this festive season and only spend what they can afford.
The Acting Manager for Education and Communication at the NCR Jimmy Golele says 2018 was a difficult year for all with record petrol price hikes, VAT increases, interest rate and electricity increases making the cost of living very difficult for the consumer.
He says during the 'silly season' people spend more money on things they do not need and those who are lucky enough to get a bonus or stokvel payouts then waste their additional income.
Golele says extra income should be used to settle debt and think about the new year when school uniforms, books and supplies need to be paid.
Consumers who need credit should only use registered credit providers because uncredited lenders will take your ID's, bank cards or SASSA cards and take their money immediately once you have been paid.
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