Don't let challenging times leave you broke: 7 money-saving tips for youngsters
Sanlam Indie's creative director shares how you can take control of your saving and spending
Image: 123RF/Gergely Zsolnai
Busy roads and potholes are enough to drive first-time motorists mad, but there's nothing like a petrol price hike to test your sanity.
The department of mineral resources and energy has announced a 24c/l decrease in the retail price of 93 ULP and a 17c/l drop for 95 ULP, while the price of illuminating paraffin decreases by 4c/l.
“The increase to diesel though, means input costs in, among other sectors, agriculture and manufacturing, are also likely to increase, which may result in higher prices for consumers,” said the Automobile Association of South Africa (AA).
With these factors impacting consumers' pockets, it's expected younger South Africans, especially, will feel overwhelmed.
Creative director at Sanlam Indie Karmen McDonald said it’s not uncommon to feel overburdened in managing one's funds and that the key to doing so is to establish good habits early.
Not sure how to survive these financially challenging times? Here are McDonald's top tips for saving every penny.
Don't be intimidated by financial jargon. Take the time to educate yourself about personal finance. Read books, follow reputable financial blogs, listen to podcasts and attend seminars. The more you know, the better equipped you'll be to make informed decisions about your money.
McDonald goes on to say: “Financial success is a journey, not an overnight achievement. By staying proactive, you'll be well on your way to building a solid foundation for your financial future. Take control of your finances, embrace a healthy money mindset and enjoy the peace of mind that comes with financial stability.”