Learning how to manage your finances at a young age may seem hard but it will set the foundation for your future finances. Saving for your retirement may seem daunting t at a young age but to enjoy your retirement, you need to start saving while you are young.
Access to credit is relatively easy. Your bank is quick to provide you with a credit card pretty much as soon as you leave school. It’s no wonder so many South Africans get used to buying things they want on credit. That’s often where the debt spiral begins.
The more money you owe, the less likely you will be able to repay your debt. The only good debt is money that you borrow in order to make more money, like an investment. Make sure your finances are organised, know who you owe money, decide which debt to pay off and put together a monthly budget.
There are various options available when you find yourself feeling overwhelmed by debt. Make sure you choose the right one for you.
Lessons learnt from our strategist Sandisiwe Yengeni
As the year draws to a close (thank goodness), I have found myself reflecting on what 2020 has done to my financial plans. I came into the year with big goals of saving, especially towards retirement, travelling, and making sure I build up that safety net for rainy days. I was doing quite well, then the pandemic hit, and my well-laid plans went out the window.
Shopping has become a huge part of today’s society. Advertising has taken over with the technological advancements that have become a part of our daily lives. Whenever you turn on the TV or simply open your smartphone, adverts trying to convince you to buy their products pop up constantly. No wonder emotional spending has become such a huge problem in many of our lives. Do you know what your spending habits are?
The global pandemic has not only changed our lives as we know it, but it has drastically changed the South African economy and in turn, our finances. South Africans have had to change their way of living to suit their new financial situation. Many have been left without any income for months, and are not able to afford the things they are used to, leaving us to make tough financial decisions that will affect our lives for years to come. Here are some ways to keep your finances going in our changed world.
Healthy finances are regarded as the state of stability of one’s person’s finances. It can be hard to gain financial stability in today’s world but there are steps you can take to get onto the right path towards healthy finances. Here are a few tips and tricks to guide you towards gaining healthy finances.
Can you believe we are halfway through the year already? The year has flown by during the nationwide lock-down as a result of the global pandemic and many South Africans have had a tough financial start to the year. Although many are saying 2020 is a write off, there are some changes to make to your finances to make the latter half of your year more bearable. Here are some tips on what you can do better to get your finances back on track for the other half of 2020.
Many South African families have had to adjust to living on a single income due to job loss or a reduction in income during the nationwide lock-down. School fees, food, electricity costs and other essential expenses remain, and you may find that your income no longer stretches far enough. Here are some tips to on how to make the most of one salary.