Wonga: S.Africans set to spend R6k more above usual monthly expenses in Dec

Their survey has revealed that consumers are predicted to each spend an average of R6,000 over and above their usual monthly expenses during the upcoming December holidays.

The Festive Season is here and many South Africans will be visiting shopping malls to do their Christmas shopping. Picture: Vumani Mkhize/EWN.

CAPE TOWN - South Africans plan to spend most of their hard-earned money on food and drinks this festive season.

This will be followed by gifts for their loved ones.

That's according to the latest annual Summer Spending survey conducted by short-term lender, Wonga.

The survey has revealed that consumers are predicted to each spend an average of R6,000 over and above their usual monthly expenses during the upcoming December holidays.

Wonga's Bryan Smith on Thursday said: “Our research this year shows that South Africans are set to spend over R250 billion this festive season. This means they are back to pre-COVID spending levels with spending increasing by 20% this year when compared to last year.”