Spring is often seen as a season of renewal, making it an ideal time to review personal finances before the year-end spending rush. With Black Friday, school holidays and the festive season only a few months away, financial planning now can help reduce stress later. September also marks National Wills Month, adding further urgency to getting financial affairs in order.
Recent reports show that many South Africans remain financially vulnerable, with a large majority of middle-income households having little to no emergency savings, and a significant portion having no savings at all.
Mariné van Brakel, Deputy CEO at RCS, says proactive financial planning can make a meaningful difference in how households experience the festive period.
“Money management can feel overwhelming, but taking a few practical steps now can make the holiday season far less stressful and give you greater control,” she says.
One of the first steps is to review monthly spending and cut unnecessary expenses. Subscriptions that are no longer used can be cancelled, while small lifestyle adjustments can help free up additional funds. Setting up automatic transfers into a savings account can also help build consistency and discipline.
Van Brakel also recommends consolidating financial accounts where possible to reduce fees and simplify money management. This can make it easier to track spending and stay in control of debt.
Building a savings buffer is another important step. Even small monthly contributions can help cover festive expenses such as travel, gifts and entertainment, reducing reliance on credit during peak spending periods.
Keeping track of debt and credit status is equally important. Consumers are encouraged to review their credit reports, correct any errors, and prioritise paying off high-interest debt. Tools such as credit alerts and consolidation options can also help improve financial stability.
“Keeping tabs on your credit helps you act quickly if something is wrong and prevents small issues from becoming bigger problems,” Van Brakel notes.
Consumers are also advised to review insurance policies to ensure that car, home and household coverage reflects current needs and asset values.
National Wills Month serves as a timely reminder to update or create a valid will. Reviewing beneficiaries, confirming executors and ensuring all assets are included can help prevent complications for loved ones in the future.
With online fraud continuing to rise, cybersecurity remains a key part of financial wellbeing. Consumers are encouraged to shop only on secure websites, enable two-factor authentication, avoid sharing sensitive information, and keep devices updated.
“It is important to never share passwords or personal information over email or messaging platforms,” Van Brakel warns. “If something feels unusual, always verify it directly with the company.”
Finally, improving financial literacy is seen as a long-term tool for stability. Learning more about budgeting, credit management and savings can help consumers make better financial decisions.
“Start with your budget, credit and savings now,” Van Brakel concludes. “A little preparation will go a long way in making the holidays calmer and more enjoyable.”
