How to start a budget

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.

If you are struggling with your finances the first thing you need to do is to draw up a budget. Only once you know exactly where your money goes each month can you make changes to your spending behavior. These may be small changes to start but will add up in the long term. The basic principle  of a budget is to make sure you have more money coming in each month than going out.

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2020 - forever remembered as the year of the pandemic.

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.

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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.  

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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. 

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During a crisis, there is often a high level of uncertainty caused and this pandemic is no exception. Managing your money, and maintaining your budget is proving to be challenging. People have suffered retrenchment, reduced hours, and wages as well as increased medical expenses. 

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How can I start saving?

There is always a reason to start saving you just need one that resonates with you. Deciding when to start saving could make a huge difference in your financial future. Savings are defined as a portion of income that is not spent on current expenditures and put aside for when its needed. It needs self-discipline but with focus it can soon become  a habit. Here we look to provide an overview of the national savings problem in South Africa, incorporating the latest statistics. It also highlights the importance of saving, building up resilience through an emergency fund as well as a guideline on how you can start saving for your future.   

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Meerkat's guide to your finances

It’s always good to learn about finances. Here we provide a guide to your finances. The basics of budgeting, credit, banking, saving and debt are the pillars you need to focus on to not only improve your financial education but you will be able to apply what you learn to make your finances great.  

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Hygiene during COVID-19- Look after yourself and your finances!

While the world faces the COVID-19 pandemic, you need to remember that there are ways you can protect yourself from getting the virus. With the growing number of cases in South Africa reaching 1326, you should know all the options you have when it comes to staying hygienic and protecting yourself from infection. Another growing concern to South Africans is their finances. Due to the lock-down many of us find ourselves in a tough financial situation. Here are some tips on hygiene during COVID-19 both for yourself and your finances.

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Here's some of our finance tips to help you during lockdown.

The COVID-19 outbreak has created panic due to the uncertainty we find ourselves in. The pandemic has caused not only emotional stress and uncertainty but financially too. Between the exchange rate from dollar to rand depreciating to 17,75 and dropping oil prices, it is no surprise you find yourself increasingly concerned by your finances How should we be navigating through this challenging time and what finance tips should you follow? 

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Investing is for everyone

Investing is just another way of saying “make my savings work for me”. Good investments will grow your money for you while you sleep. This growth really works overtime, the more time you give your investment, the more money you make with minimal work. That’s the power of compound interest!

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