Consumers across the world are being warned to prioritise what is important and avoid splurging this festive season, so to avoid beginning the new year defined by 'worry'.

The number of financially distressed households has more than doubled in recent years. According to Salem Nyati, Consumer Financial Education Specialist at Momentum Group, financial literacy is a skill that can help improve financial outcomes.

 Thami Ngubeni spoke to Salem Nyati, Consumer Financial Education Specialist at Momentum Group...