loader image

Money Recap

The overview !

The following process is what you have learnt from this lesson.

  1. Understand exactly what you need for your lifestyle and goals.
  2. Put all costs into categories to get a list of the financial needs you have every month.
  3. Start by setting goals for the year ahead, decide how much money you need to reach each target and goal.
  4. keep the goals realistic, and then find a way to get there! From starting a side hustle, to cutting out non-essential spending.
  5. The more thinks you can keep working on to improve your income will help you reach your goals much quicker than you expected.
  6. Keeping track with a proper budget will help make sure the extra income is going towards the goals and targets.
  1. Have an accountability partner to walk this process with you – educate yourself on the topic of money.
  2. By starting it with our first job we can make the contributions to an investment or retirement fund smaller as they will add up for a longer time frame.
  3. If you need help, there are many financial experts available to discuss your options around investments and retirement.
  4. Make budget adjustment to fit our retirement goals, from extra income to cutting expenses and comfort.
  5. Plan with your budget and pick a rand value you want to always keep your emergency fund at (R5k-R10k for example) and get that saved up as soon as possible.
  6. These important steps only happen when you take the first steps and put in the hard work.

You're all done!

We hope you really learnt something special from our Money Management series …

.

Scroll to Top