Sunday Times E-Edition

Perhaps this is the season to be jolly at home

The December holidays can’t come soon enough for most South Africans, who have been battered this year by unprecedented load-shedding, water cuts, fuel price increases, soaring interest rates and a general spike in the cost of living. We all need a week or two of rest and relaxation to recharge, catch up with family and have a bit of fun. But for many, long-distance travel this season is simply unaffordable.

The global hike in fuel prices has put both road and air travel out of contention for many families. While rail is more affordable, it is unreliable, and many routes are not operational.

With the interest rate now at 7% — the highest in five years — and more increases expected next year, many traditional holiday staples such as dining out, alcohol and gifts will be more expensive for consumers.

Add to that muted bonuses (for those lucky enough to get them) and pay rises that don’t come close to covering the price increases, and the chances of a debilitating debt hangover in 2023 loom large.

It’s tempting to haul out that credit card to help pay for a well-deserved holiday. But before we do, let’s picture ourselves mid-January. If it’s not a pretty sight, perhaps this is a season to be jolly at home, and to celebrate simply.

A recent survey found that 78% of South Africans plan to stay at home this summer, with 47% citing petrol prices and the escalating cost of living as the main factors. About 27% of those travelling would be holidaying in their own province.

For the lucky ones who can afford to splurge because they have a healthy bank balance, go forth and party, albeit responsibly. Our fragile hospitality sector — still recovering from the ravages of Covid — needs your support.

For all others, perhaps this is the year to master the art of personal austerity. Our bank balances will thank us at the beginning of the year.

Opinion

en-za

2022-12-04T08:00:00.0000000Z

2022-12-04T08:00:00.0000000Z

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