NEWS for locals begun on a dismal note this week with reports that Foskor will be shedding a number of jobs at its Richards Bay plant.
They are the latest on a long list of companies that are struggling in the current economic recession, some of which are battling to keep their doors open.
The negative spin-offs will also be there, as those smaller companies that supply the ‘big boys’ will find fewer opportunities.
Similarly, those needy organisations that benefit from corporate CSI projects will no doubt be affected for the worse.
These are tough times, and nobody should take for granted the assurance of salaries or annual bonuses.
One great concern at this time of year is the commercialised festive season, where every encouragement is given to spend…and over-spend.
We have always been warned to ‘save for a rainy day’.
That day is here, and the metaphorical rain is pelting down with more dark clouds looming on the horizon.
The ‘Christmas’ season hangover is called debt, and its headache effect often ends up as family friction, even at the doors of welfare organisations.
Don’t feel obliged to buy lavish gifts: they bear no relationship to expressing love and appreciation.
It’s not worth getting into debt on the ‘buy now, pay later’ scheme. In the long term, the added interest charges will far outweigh the convenience.
Sound advice from economists is to use that annual bonus to settle some debt. Not quite as exciting as blowing it on parties, but well worth it in the long run.
And another warning we can all heed is to not add to unnecessary spending through traffic offences – and especially not drinking and driving, where money alone may not be enough to pay for the transgression.
