Retrenchment, or losing your job and your income, is one of the most stressful events that can happen in your life. It’s right up there with losing a loved one, moving home or getting divorced. In today’s tough times, more and more people are facing the reality of retrenchment. Protecting our income should be one of our main concerns when building a robust financial portfolio. The problem of losing our income is compounded when the economic […]
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Ways to save when times are tough
Most of us are chronic under-savers even in the best of times. Yet with the current economic environment, lots of previously hypothetical concepts like ‘what if I’m retrenched or have my salary cut?’ are far more concrete – and, unfortunately, more likely to happen. There’s never been a time when saving is more important, but there’s also likely never been a time when it’s more difficult. Do you want to put something away for a rainy […]
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Cold hard cash
Debt statistics are growing – this is very likely in part to the fact that a vast majority of us today prefer credit cards over cash. The benefits of credit cards are obvious. They are more convenient and offer more security. Cold, hard cash, however, can be the best way to organize your spending. Here are three reasons why you should opt for using cash instead of credit cards for managing your daily budget. 1. Less […]
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How to avoid a disabled financial portfolio
In the same way that we never plan to get ill (see our blog from last week), none of us plan to be disabled. And… in so doing, we can inadvertently disable our financial portfolio. We all know that accidents happen, we can do our best to avoid them, but ultimately we can’t stop them. That’s why they’re called accidents. They don’t only happen to the extreme sports enthusiasts, those who live on the wild side […]
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Three ways to thrash your debt
Effectively managing your debt is one of the best and most proactive ways of ensuring a sustainable financial future. It is deeply gratifying knowing that you’re doing something right when you see your debt shrinking! The journey of exploring the best ways to manage your debt can improve your attitude and enthusiasm towards settling it. Instead of seeing it as a burden to your financial goals, you’ll recognise that it’s an inspiring investment towards your financial […]
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We never plan to get ill
When we think about our own future, considering our goals and dreams, we generally think of a future where things will be better; where everything works out. And so, a big part of our planning revolves around how we can achieve these goals and dreams. From the finances we need, to the qualifications we should complete, career path and connections we need to make. We don’t plan for things to go wrong. When it comes to […]
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Are you a savings statistic?
Most Sub-Saharan African countries are chronic ‘dis-savers’. But, you don’t have to be. Before we look at the options, let’s take a snapshot of recent events. Last July, the South African Savings Institute gave the country a wakeup call when it said that the average household rate had fallen from 0.5% per month in 2018 to 0.4% in 2019. While 2020 figures are not out yet (at the time of this blog) anywhere in the continent, […]
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The long haul
Saving is not just about a plan – it’s a behaviour. Part of this behaviour is rooted in our mental ability to overcome our own fears. We reduce these fears by mentally preparing for life goals and recognising that we have what it takes to achieve them. Mentally preparing for long term savings is like preparing for a long-distance race or a trip. You start exercising today so you can cope with the physical demands of […]
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An honest approach to prevent failure
Honesty is the fastest way to prevent a mistake from turning into a failure. James Altucher Honesty is not just about telling the truth, it’s about being real with yourself. We all make mistakes, it’s a human tendency. Accepting our mistakes allows us to reverse-engineer the steps that led us to that outcome and reroute it to a path of success. Sometimes we convince ourselves that we don’t deserve a favourable outcome or that we are […]
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Soup’s on ain’t a soupçon!
As the days draw shorter, the sun stays hidden for longer and the colder weather encourages us to hibernate away, coupled with constrained financial conditions, we can be forgiven for falling into the trap of thinking smaller, trying to save both money and energy. When it comes to cooking for the family – here’s a great idea to stretch out a little, as if the sun is shining warmly again. Soups! They are jam-packed with vitamins […]
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