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Interest rate hold, Black Friday and your budget

Updated: Feb 25

As we approach the end of November, its a big weekend with Black Friday sales as we get ready to move into the last month of the year.


Here are some key points that I wanted to share with you as we start closing off the month of November 2023


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1. Interest Rates Remain Stable:

This week, the South African Reserve Bank made a crucial decision to maintain the current interest rates, keeping the repo rate steady at 8.25%. This stability can significantly aid in managing your budget and debt during the festive season. As you plan your expenses, take advantage of this steady environment, and use it to your advantage in crafting a budget that aligns with your financial goals.

2. Black Friday Sales Alert:

black friday sale

The much-anticipated Black Friday sales are upon us, and retailers are offering enticing deals to attract consumers. While the excitement is palpable, we urge you to approach these sales with caution. Before succumbing to the allure of discounts, take a moment to review your budget. If possible, consider purchasing items with cash rather than relying on credit. Distinguishing between needs and wants is crucial - if you can afford it and truly desire it, go ahead, but always weigh the decision to avoid potential buyer's remorse.



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3. Budgeting for a Prolonged December:

December tends to be an extended month with numerous financial expenses ranging from presents, holidays then to school stationery and fees. It's crucial to keep in mind that you do need to make it last. Revisit your budget regularly to ensure financial stability. Prioritize essential expenses, ensuring that your obligations are met promptly. Allocate sufficient funds for scheduled debit orders and consider setting aside a reserve for unexpected expenses. A well-managed budget will allow you to enjoy the festivities without the stress of financial strain.

As always, we are here to support you in achieving your financial goals. If you have any questions or need personalized advice, please don't hesitate to reach out to us.


Please note that our offices will start winding down for closure from the 15th December and we will reopen ready to continue building on our relationships from 3 January 2024.


Warm Regards


Albert Johnson

Wallstreet Financial Services

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