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THEREa��S no readily available research to support claims that many will face a torrid January having over spent in December a�� but for generations therea��s been talk of the January disease whereby piles of financial responsibility seem to be hard to deal with.
Thata��s where a�?omashonisaa�? money lenders, both legal and illegal come into the picture because therea��s nothing as embarrassing as failing to pay school fees when in December one lived life on the fast lane with careless spending.
The problems will be worsened by the fact that almost all workers in every sector were not paid the 13th salary.
The net result is that many will be feeling anxious, worried or even depressed throughout January. Thata��s why for many the month is known for renewal and regression, happiness and sadness, life and death. Ita��s a time of resolutions, renewed vigour, and gut wrenching sadness. Ita��s always a beginning, and too often an end.
Reliance on debt to make ends meet will climb up to concerning levels in January. That is why Government should ensure the right help is available for anyone who falls into financial difficulty.
Help is needed mostly through counselling and financial literacy coaching because many households will not be able to handle the extra borrowing because times are generally hard.
If you only make one New Yeara��s resolution, make it about budgeting. Ita��s so easy to quickly spend more than you have coming in, which leads to the inevitable debts.
The first thing anyone in need of a budget must do is look for ways to cut back. This can be difficult, but ita��s not impossible. Food shopping is a major expense and one many of us can address without losing out.
Online Reporter