Saving Money Doesn't Cost A Cent!
The average South African is paying almost all of their income on debt repayments. According to a survey, which DebtSafe ran in the first quarter of this year, most people’s budgets are stretched and individuals overspend on their credit cards.
Many of the country’s consumers don’t have a savings plan in place (see article for stats) frankly just because they don’t have sufficient funds to cover monthly expenses and savings. DebtSafe says people must take control of their finances to be able to measure what they earn and what they really spend their money on.
Make a note of every cent that you spend during the month, (including tips to car guards, bank fees, etc.) and when you add the amounts, you will know exactly how much money you have spent. Keep a piece of paper and pencil with you at all times and jot it down as you go along. By committing and doing this exercise for only one month you will be able to pinpoint exactly where all your money is going.