Lessons Learnt

“I was really shocked by these results. When I actually sat down and looked at my income versus my bank statement, I couldn’t believe it. I am spending far too much.

What scares me most is that the entertainment and ad hoc amount is so high, and I’m saving nothing for my future. In fact, I’m not even putting money aside for a rainy-day fund – if my car broke down tomorrow, I’d struggle to afford to fix it.

I also think that my family and I are spending far too much money on groceries. We can definitely reduce that spending by shopping wisely, making use of monthly special offers and buying certain items from certain shops, rather than getting everything in one place and not shopping around for deals.

If we just cut back on two restaurant outings a month (approximately R1 600) and saved R1 500 on our groceries, that’s already a saving of R3 100. That’s a good amount I could be saving towards my retirement with – a big blind spot in my finances at the moment.”

Need help getting your finances in order? Contact a financial planner today and work towards a financially healthier you.

This article was prepared by Sanlam Reality.