Consumers can avoid overspending over the Easter long weekend by using these money tips. Picture: Freepik
As South Africa gets ready to enjoy the Easter festivities, consumers will be gearing up for more financially modest celebrations amid ongoing economic challenges.
With issues of higher prices, and sluggish economic growth, everyday South Africans are feeling the pinch.
Rynhardt de Lange, director and head of Legal at Milaw Legal said while spending during the Easter period has typically shown a steady increase, current economic factors are making consumers more mindful of their finances.
De Lange said: "With soaring food prices, many are now prioritising essentials over non-essential spending like vacation spend, leading to widespread financial stress during this holiday season."
Despite these obstacles, De Lange expressed optimism about the forthcoming Easter season, anticipating a surge in consumer activity.
As consumers dive into Easter spending, De Lange shares money savvy tips:
Consumers should map out a realistic budget for their Easter expenses, making sure that you give priority to essential purchases. Stay on the right financial track by planning ahead and avoiding impulse buys.
Be on the lookout for the discounts, promotions, and special deals that retailers are offering when stocking up on your Easter essentials. Compare prices of the various items and consider buying in bulk to stretch your budget further.
Consumers should shift their focus from lavish splurging to spending quality time with their loved ones. Create lasting memories with low-cost or free Easter activities that bring everyone together.
Keep a close eye on your expenses throughout the Easter period to ensure you stay within budget. Use mobile apps or budgeting tools to track your finances effectively.
Get ahead of the game by planning your Easter meals and activities in advance. You can prepare ahead of time to avoid last-minute splurges and find budget-friendly options for decorations and gifts.
IOL Business