Wonga News

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South Africa's Festive Spending Set to Rise to Over R250 Billion

Research has revealed that South Africans will each incur an average of R6 585 in festive expenses this summer, over and above their usual budgeted expenses. Based on Statistics SA’s mid-year population size estimates, working aged South Africans are set to pump R254 billion into the economy, an increase of 24% from last year. As part of our Festive Spending Survey, almost 6 000 South Af…

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Our Financial Guide to Surviving the Festive Season

The festive season means a time of joy, celebration, and relaxation for many – however, this can also bring stress and frustration while managing finances along with gifts, travel expenses, and holiday plans. Fortunately, there are several ways that you can budget and plan ahead to ensure that not only is your holiday season stress-free, but that you can set yourself up for success in th…

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Busting Popular Myths about Credit

When it comes to applying for credit, there are many myths and misconceptions that range from your credit report, your credit score, or even whether an employer can choose to turn down your job application based on your credit history. Here, we’ll unpack some popular credit myths and offer insight into how you can improve your credit score and take control of your finances. Credit report…

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What to Do When You’ve Blown Your Budget

Budgeting is difficult when things don’t go according to plan. However, there are many ways you can manage your cash flow. Here are some starting points. Review your situation Best practice is to stick as closely to your budget as possible, but things don’t always work out that way, and that’s ok. Sometimes unforeseen expenses or emergencies can complicate your financial situation. It is…

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Our Guide to Great Free Financial Literacy Resources

To become financially literate, you’ll need the best resources to #MasterYourMoney. We’ve rounded up some awesome websites and online tools to get you started! As you begin or continue your journey to financial literacy, you’ll want to refine your understanding of key money concepts and make sure that you have access to the best tools available to master maintaining a budget, managing yo…

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Understanding Your Income: What You Need to Know

While most of us are usually very familiar with our expenses - whether that means our regular payments, what we choose to splurge on, or working with a budget - few of us delve in to understand the varying forms of income, or how income tax works. Our Financial Wellbeing Report found that 87% of South Africans aspire to earn more than R20,000.00 per month - and the key to managing a succ…

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Exploring and Improving Your Money Personality

When it comes to managing your money, you may find that you have a ‘money personality’ - that is, the manner of dealing with, spending, and saving your money.  Understanding your money personality is an excellent way not only to gain insight into how you view money and your own assets, but also how you can work towards improving your financial practices to get ahead. Remember, if you eve…

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Things to do Before Buying Property

Before you’re ready to buy your own home, it’s important to do research, budget wisely, and learn more about property. Here, we explore what you need to know. Research Buying your own home is likely the largest purchase you will ever make and it is important to fully research not only the home you wish to buy, but how much the entire process will cost you upfront and over time. When rese…

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