Beating the Janu-Worry blues

We are already in the middle of December and everyone is enthusiastically playing their “keDezemba” anthems, having put the year’s hardships behind them.

Unfortunately, most people tend to get lost in the jubilation and merriment, until reality hits them when Janu-Worry rears its ugly head, however this week Standard Bank’s PR and Communication’s Manager, Surihe Gaomas-Guchu, advised that there is a way to avoid that.

“Ideally, we would all like to enjoy the festive season with our friends and family without the hassle of worrying about the January blues, being strapped for cash and having to send children back to school. Admittedly a lot of people want to save throughout the year, however without a fool-proof savings plan, life can side-track you and leave you without any saving or emergency plan to fall back on,” she said.

Gaomas-Guchu advised that the December bonus is ideally a way to help mitigate the Janu-Worry as it allows for one to set some money aside, in the absence of a savings plan. She added that for those with extra cash in December courtesy of their bonuses, the Bank’s 32 notice account could become their saving grace in January.

“It is easy to get carried away with your spending during this time of year, so the 32 days’ notice account is ideal in that it allows you to access the money only when you need it as it requires to put in a withdrawal notice,” she said.

She also pointed out that for instance with the 32-days’ notice account, finances can be the last of your worries at the beginning of the year, for just a minimum opening balance of N$500.

Admittedly, most people have already begun spending their bonus, if not physically, mentally through their budgeting and committing it to various causes. As such, Janu-Worry seems to have started earlier for most, however Gaomas-Guchu reassured that there is no need to worry as the bank has a product that can come to their rescue.

“Getting a personal loan can at times be a painstaking experience especially when one has to first show that you have some kind collateral or security before you can acquire a loan, either for an emergency, to plan for a wedding, a holiday or to simply to pay for school fees. Standard Bank offers an unsecured personal loan product called the Revolving Credit Plan (RCP). Once approved, this loan will come in handy when you are faced with the Janu-Worry blues,” she explained.

RCP is a personal finance option which provides a continuing line of credit within an agreed limit. Once 15% of the loan amount has been repaid the customer may withdraw the funds again up to the agreed limit.

“Acquiring the RCP loan is very simple, it requires the customer to visit their nearest branch and complete an application form. A consultant will weigh up your expenses versus net salary to determine your loan amount and the loan amount you qualify for depends on your income and credit risk,” Gaomas-Guchu stressed.

Standard Bank’s lending product is geared towards giving the customer a peace of mind in their finances in times of need, especially in January when everyone is trying to scrape their monies together. As such, Gaomas-Guchu urged everyone who might need it to get their peace of mind while it is still early.

To qualify for this loan, the customer should have a cheque account with Standard Bank Namibia, proof of income and a clean credit record