By 1Life’s Truth About Money initiative
February – or as they call it, the month of love – is a time where consumers worldwide want to express their love for their significant others, through gifts or other romantic gestures. The flip side, is that these ‘acts of love’ on Valentine’s Day often involve money, and sometimes - lots of it. In fact, reports* indicate that total consumer spending over this period is expected to reach reach $19.6 billion this year, and that’s just in the US alone. However, South African consumers too, have a habit of pushing their budgets and bank balances to the limit – all in the name of ‘love’.
It is very easy to get carried away over this period, especially where brands are pushing Valentine’s Day messages and placing items on sale, at every turn. Despite this, there are a few tips to keep in mind when approaching your spending this Valentine’s Day:
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