IT seems many South Africans will be turning down Christmas lunch invitations from their loved ones this year.
While some Mzansi citizens can’t help but be high rollers during this time, others have chosen to spend within their means.
The SNL24 team went out to the busy streets of Rosebank in Joburg to ask South Africans about how much they can afford to spend this holiday season.
Due to the current economic status and personal and family responsibilities, mastering the art of saving during the year remained a challenge for many, with some stating that each purchasing decision needs to be done in a cautious manner, especially because it’s the festive season.
A 2023 survey suggests that the average budget allocated for extra festive season expenses stands at R5 707 per person.
R224 billion in spending is expected with a 4,4% decline from the previous year.
Koketso Kgofelo said: “The cost of living is too high, and I have a lot of responsibilities that I need to cater for. As a result, I don’t have a budget for December because I also have to pay for school fees and worry about January,”
On a lighter note, others happily expressed that having enough money saved up is quite liberating and they can't wait to spoil themselves.
Michael Potucer said: “Yes, we have enough money saved up for the holidays. We’re visiting from Sweden and managed to save up for this trip. Firstly, we're going up north for a safari trip and then shopping. So far, we’re enjoying our stay in South Africa,”
While some approach the season with financial concerns, others embrace the opportunity to splurge and indulge in the festivities.
