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Money tips for a financially successful 2017!

Alongside the New Year resolutions of losing weight and getting fit, saving money is right up there as well. So how can you make this year a financial success? Keep reading!



I know you hear me say this all the time, but if you don’t know how much is coming in and where the money is going, you are literally going nowhere slowly. Budgeting helps you keep your eye on the prize because it lets you know where your hard earned money is going. It helps you set priorities and ensures that you don’t spent money you do not have… (Spending money you do not have is so 2016!) It’s simple, you cannot reach your financial goals if you haven’t cleaned up your house by budgeting first.


Get started on that emergency fund

Kudos to you if you’ve already got an emergency fund. Everyone needs an emergency for the simple reason that there is not one person who has never had an emergency, no matter how big or small. The emergency fund is your “I’m prepared for all the crappy stuff that might happen” so you do not get derailed from your budget.

Try to accumulate at least 6 months’ worth of your net salary into a separate account. By doing so, you know most of your expenses will be covered in case of a job loss or you decide to quit 8-5 to become your own boss etc.


Set some #FinancialGoals

…and stick to them. Setting a financial goal like, to make more money, save more or pay off debt etc. will not work, this is just too vain. Be SMART about your financial goals: Specific, Measurable, Attainable, Realist and Time-bound. If you haven’t done this and don’t know where to start, go to http://womanandfinance.co.za/52-week-savings-challenge/ and you can adjust the challenge according to your affordability.


Reinvest your Pension fund

If you belong to a retirement fund and you plan on changing employers, don’t cash in the funds; one, because of the tax implications and two, you are losing out on many years of savings. Opt to transfer to another retirement structure instead.


Get that Will done

I cannot stress the importance of a Will enough. Most people associate a Will with death and true, this gets people uncomfortable but just do it and get it out of the way. Go read this article to see why it’s important to have one:  http://womanandfinance.co.za/do-i-need-a-will/


Learn one thing you never knew about investing

While the word investing can be intimidating, you should not go through life without learning and being comfortable with at least one concept about investing. Think what it is you want to learn and start there. If you want to make your money work for you, you need to know how it all works. Challenge yourself…just one concept this year!


Reward yourself

What is hard work without the reward? I always find that I get weary if there is no reward at the end of any goal I set for myself, even with financial goals. Setting a reward keeps you motivated and eager to achieve the goal. So, go right on ahead and reward yourself for all the discipline and commitment for a financially successful year.



Finally, if you have a business idea that you’ve put off for a while now, what are you waiting for? This year, my wish for you is to be BRAVE, yes, BRAVE, in your finances, in your career and everything else you’ve put on your vision board.

Remember there is no lack in the universe. Only abundance.



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