Why You Should Start Saving Early Our early twenties is a glorious age. We complete our studies, embark upon our careers, move out of our childhood homes, discover the freedoms we were denied during our teenage years, and indulge in daily doses of instant gratification. It is a time of liberty, opportunity, ambition, and of looking forward to life. But, the very last thing on our mind...
Read More..It’s the immutable law of finance: if you spend more than you earn, you’ll find yourself in debt. The great thing about this law is that it applies the other way around too: if you spend less than you earn, you’ll dig yourself out of debt. Simple! And yet, in practice, the spending habits that allow us to build wealth are easier said than done. Why is this? Because the obstacle in the...
Read More..Saving is Easier Than Making More Money. Here’s Why.... We’re all in some way caught up in the pursuit of money. Buying that espresso machine you’ve been salivating over for the past few months, sending your kids to school, going on a much-needed holiday, affording an operation to resolve a medical issue, updating your wardrobe, buying a house... meeting all of our wants and needs in...
Read More.."I think the biggest mistake is not learning the habits of saving properly early, because saving is a habit. Pay attention to money habits and work to strengthen those that help your finances, and break those that hurt your finances." - Warren Buffett, American business magnate, investor, and philanthropist. Most people will earn well over a million Rand in their lifetime – more likel...
Read More..The point of budgeting is to be able to afford the things we want and need, while also creating a plan for the future: a nest egg, a home, children, and retirement. However, being smart with your money doesn’t mean you need to deny yourself all the things and experiences you love. Here are a few ways you can budget smarter and still afford to treat yourself. Decide What Your Prioritie...
Read More..At the start of this year, one of our first blog posts talked about getting your finances (back) on track after the festive season, and that one of the best ways to do this was to set a monthly budget. To recap, the first steps were to determine your fixed and variable monthly expenses, so you could determine where you might be able to cut costs and start saving. Working out your mont...
Read More..Diligently putting aside money for savings each month, even if it’s only a few hundred Rand each time, might not be easy, but it’s absolutely worth the effort. There are a host of benefits to having money saved, besides the obvious – that you have extra money which you can hopefully spend as you see fit. Let’s take a look at a few other top benefits to having money saved. You’ll be...
Read More..When people hear the words “monthly budget”, they often think it means that every cent earned and spent needs to be allocated and accounted for accordingly. This can seem a bit too “strict”, but that depends of course on what your financial goals are. There are people who, quite literally, know where every cent goes. Maybe you’re one of them. Or maybe you’d prefer to be more flexible...
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