Can You Save While Paying Off Debt? | Meerkat South Africa

Yes, you can and should save while paying off debt.
It’s a smart money strategy that gives you a safety net and helps you break the debt cycle for good.

💡 Quick answer: Even if you're under debt review or managing loans, saving, even a small amount, can prevent you from taking on more debt in the future. At Meerkat, we build a savings buffer into your debt review plan to make this possible.

 Why Save When You’re Still in Debt? 

Most South Africans believe they must pay off all debt before they can start saving. But this mindset can keep you stuck.

Without savings, a single unexpected cost like a burst tyre, funeral contribution, or school shoes, can push you back into borrowing.

Here’s why it’s important to save while paying off debt:

• 🔁 Break the debt cycle: No more credit card swipes for emergencies.
• 🧘 Reduce financial stress: Knowing you have something to fall back on brings peace of mind.
• Build confidence: Even R50 per month means you're taking control.

 What the Experts Say  

At Meerkat, we’ve helped thousands of South Africans navigate debt review, improve their credit health, and build long-term financial security.

One key insight?

✅ People who save, even a little, while paying off debt are less likely to fall back into debt once their plans are completed.

That’s why the Meerkat debt review plan includes a built-in savings buffer, so that when your debt ends, your savings journey is already well underway 

How to Save While Paying Off Debt: 4 Practical Steps

1. Automate small savings

Set up a small monthly debit order, even R50, into a separate savings wallet. Automation makes it consistent.

Meerkat tip: If you’re under debt review with us, we’ve already done this for you.

2. Cut “Invisible” Spending

Cancel things like:

• Daily takeaways or airtime bundles
• Subscriptions you don’t use
• ATM cash withdrawals

That extra R150 - R300/month could be your new emergency fund.

3. Keep It Out of Sight

Use a separate savings account or a dedicated Meerkat savings plan where your emergency buffer is protected and hard to “accidentally spend.”

4. Celebrate Small Wins

Saved R200 this month while paying your creditors? That’s a win. Track it. Celebrate it. Build the habit.

 Shouldn’t I Just Focus on Paying Off Debt? 

Not necessarily.

Yes, paying off high-interest debt matters. But if you're under debt review, your monthly repayments are already negotiated and structured, often with a fixed interest rate.

That gives you space to start saving without sacrificing your debt plan.

 “Paying off debt helps your past self. Saving helps your future self.”

Debt Review and Saving Don’t Have to Compete

They can, and should, happen at the same time. In fact:

• Meerkat’s debt review clients automatically save every month.
• It gives them a solid foundation to rebuild, with fewer money shocks.

What Makes Meerkat Different?

We’re not just here to restructure your debt, we’re here to help you move forward.

With Meerkat:

• Your debt is negotiated and reduced
• Your assets (like your home or car) are protected
• Your savings start while you're still paying off debt
• Your credit health improves step by step

 Want a Debt Plan That Includes Savings? 

Thousands of South Africans are using Meerkat to:

• Get out of debt faster
• Clear their name
• Start saving while they pay

Ready to take control of your debt and your future?

Book a free callback with a Meerkat consultant.