Economist warns of over spending
An economist is estimating that the average South African household will fork out an extra R450 a month to make ends meet.
Petrol and electricity tariff increases kick in this month.
Francois Stofberg says smokers can expect to add an additional R26 to this figure.
Petrol is set to go up by between 81 and 83 cents a litre depending on the grade here on the coast.
Diesel increases by 90 and 92 cents a litre.
Stofberg says consumers are in for hard times recommending people try and save as much money as possible.
"You need someone that can help manage your expenses, seeing a financial advisor that knows the ropes and that can help you through this process of tightening the belt.
"You need to know where to put your money so that it can work for you and then gradually work yourself to a place where you can start paying off debt that is very high. The golden rule is always not to spend what you don't have," he said.
(File photo: Getty Images)