How working part time paid off

Tshegofatso Senne decided to quit her job so she could focus on research for her MA in South African Sign Language. Freelancing has given her freedom, and juggling several jobs has improved her finances

Why was freelancing the best option for you?

I'm doing my master's degree through the University of the Witwatersrand for the next two years.

Working an eight-to-five job was tricky, because I do my research with deaf women and I have to go to them. I can't expect them to come to me because it costs them a lot of money. I also couldn't up and leave my normal job during work hours to get that done. So I had to leave.

What exactly do you do?

I'm an online reputation manager for a bunch of clothing brands. I work about three hours a day on that. The other contract I have is as a programme consultant and research assistant at an NGO . I do some research and also help put together some of the seminars and events they host . I also do freelance writing for a couple of publications.

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Has that flexibility allowed you to pursue other projects to supplement your income?

I've technically got two jobs, and both employers are very understanding of the fact that I have to do my course work. The flexibility also allows me to do some writing on the side. I'm in charge of my own time: that's the best thing.

How has freelancing impacted your finances?

It's amazing, because there are fewer deductions. There were a lot of deductions at my old job, because you were forced into medical aid. Now I can decide which medical aid works best for me. Fortunately, I'm in a position where I can put money towards my savings, medical aid, disability insurance and retirement fund.

I also have to learn how to balance my responsibilities and my now higher income. I have to stop myself from getting too excited and take care of my responsibilities first.

Are you saving for retirement through a traditional retirement annuity?

I carried on contributing to my retirement plan after I resigned. I didn't want to have to deal with the admin of withdrawing my funds and transferring them to a new retirement plan.

Are you saving a lot more now that you're earning more?

Oh definitely. I'm not much of a shopper.

What are you saving for?

I'm putting money aside so I can buy my first property at the end of next year. I'm also saving for a trip overseas. I don't know where I'll go yet, but it's definitely going to happen.

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On the investment side, do you have any investment accounts?

Sort of. I'm in an investment club that my dad and his friends have been a part of for years. They wanted to instil a savings mentality in their kids, so now all their kids are part of that club. I'm one of the eldest kids and we have to know everything that's going on. We have our own investment that we are in charge of, with our parents' guidance.

Why don't you have your own investments?

My biggest fear is messing up by investing in the wrong thing and then my investment doesn't grow. I'd kick myself, because I'd think that I could have used that money for something else.

That's what's holding me back - the lack of education and information.

What do you think is lacking in terms of investment education?

I think people need to use accessible language. I want to understand what I'm investing in, where my money is going and how it is growing.

tsamelad@sundaytimes.co.za