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The national Budget address is always a good time to reflect on the state of your finances. Following this year’s Budget address, you should take the increase in personal income tax, fuel levies and sin taxes into account. As a consumer it is critical to reassess your current spending and behaviour. It is also important to make sure you prioritise budgeting – or, if you don’t know how, educate yourself to help you plan for the future, pay off existing debt or even save for other things you want to accomplish this year. Taking this into consideration, are you one of those people who often feel you can’t say no to spending – whether it’s going out for dinner with friends or buying that brand-new car on credit, despite not being able to afford either of them right now? You’re not alone. In fact, according to Debt Rescue, more than half of all South African consumers owe 75% of their income to creditors, which means there is a trend among South Africans to spend more money or even maint...

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