Top tips to spend wisely these holidays

The NCR's Rishana Singh says consumers can protect themselves from unnecessary expenses during this time - as well as placing their personal documents such as credit card details and ID numbers at risk.  

The December-January period should be treated just like all months of the year, Singh adds.  

"They need watch out that they have control over how much they spend and they always stick to a budget. If you are borrowing - do so from registered credit providers. Avoid unregistered credit providers who retain your cards and your ID. Be careful of ID fraud during this time," she said.  

Singh says should salary payments dates change, plan ahead. 

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"This happens each and every year - so you know that the debit orders may go off earlier. If you are going to be paid at a later date, plan ahead and make arrangements with your credit providers to debit on a certain date. It seems like a long month from the time you get paid in December to January so you need to make a list, stick to that list and avoid overspending," Singh said.          

Here are a few tips, courtesy of the NCR, for consumers during the holiday period. 

• Draw a budget for the month - including all debt, and expenses such as rent, electricity, water, insurance, transport, gifts, and entertainment
  
• Keep a shopping list when going on a shopping trip to avoid buying unnecessary items
  
• Prioritise your home loan and rent 
  
• If you borrow money, make sure you borrow only for what is strictly necessary, and ensure that you can afford the repayments
  
• Start saving for next year’s projects that you would like to undertake such as holidays, renovations, or studying
  
• If you are battling with your debts, contact a registered debt counsellor for assistance
  
• Keep to your normal spending patterns during the festive season - don’t make drastic changes that may leave you over-indebted in the new year