{
  "id": 6741388,
  "title": "This is the perfect time to adjust your finances ahead of the festive season",
  "url": "https://urgent.news/2026/09/11/this-is-the-perfect-time-to-adjust-your-finances-ahead-of-the-festive",
  "topic": "world",
  "section": "World",
  "published": "2026-09-11T10:12:13.000Z",
  "source": {
    "name": "The Citizen",
    "slug": "the-citizen",
    "url": "https://www.citizen.co.za/business/personal-finance/this-is-the-perfect-time-to-adjust-your-finances-ahead-of-the-festive-season/"
  },
  "original_language": "en",
  "account": "As South Africa eagerly anticipates the festive season of December, the National Debt Counsellors (NDC) advises that now is the ideal time to reassess one’s finances. With inflation and the cost of living on the rise, many individuals may face financial strain. René Moonsamy, a director at the NDC, highlights that household budgets have become increasingly pressured due to factors such as the Reserve Bank’s recent interest rate hike, rising fuel and food costs, and a significant portion of credit-active consumers carrying impaired credit records.\n\nMoonsamy suggests that adjusting finances for the festive season does not require drastic cuts but rather a comprehensive understanding of one’s financial situation. She recommends three key steps: reconciling all financial commitments, adjusting the budget, and planning for the upcoming year. The reconciliation process involves examining all recurring expenses, insurance policies, savings, assets, and credit agreements, including outstanding balances, interest rates, and repayment terms. This thorough debt audit helps households identify hidden costs and make informed decisions about debt management and savings.\n\nNext, Moonsamy advises households to adjust their budgets by identifying areas where expenses can be reduced and reallocated towards debt repayment or savings. She points out that recurring costs, such as streaming services, app subscriptions, gym memberships, and bank charges, often go unnoticed but contribute significantly to monthly expenses. By scrutinizing these discretionary spending habits, households can redirect funds to more critical financial goals.\n\nFinally, Moonsamy emphasizes the importance of planning a realistic budget for the next 12 months, considering annual expenses, seasonal spending, and potential increases in household costs. This forward-thinking approach allows households to anticipate financial needs and allocate resources accordingly.\n\nIn addition to these steps, Moonsamy recommends obtaining a credit report from a credit bureau and comparing it with personal records to ensure all financial commitments are accounted for. This practice helps identify any overlooked debts or inaccuracies that could impact one’s financial health. Moonsamy advises prioritizing the repayment of high-interest, short-term debts while maintaining essential contractual obligations. For instance, buying essentials in bulk or opting for monthly packages over repeated small purchases can lead to significant savings in the long run.\n\nBy following these three straightforward steps—reconciling financial commitments, adjusting budgets, and planning ahead—South Africans can better manage their finances during the festive season and beyond, ensuring a more enjoyable and financially secure holiday period.",
  "summary": "Here are the three steps to take ahead of the festive season.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}