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  • Writer's picturezarreen soni

5 PIECES OF FINANCIAL ADVICE EVERY SOUTH AFRICAN SHOULD KNOW:

Even though we may be familiar with the meaning of the term, many of us find personal finance to be challenging.

SET A BUDGET & STICK TO IT: an essential component of your financial life is creating and following a budget. A key component of managing your finances is understanding where your money comes from, where it goes, and what expenses you have to pay.

CONSOLIDATE YOUR DEBT INTO ONE PAYMENT: Debt can feel burdensome, especially if you have many accounts and creditors to pay. Paying off this debt with a high interest rate may seem like an insurmountable undertaking. Getting in touch with a financial service provider(FSP) can help you consolidate your debt.

HAVE AN EMERGENCY FUND IN A SEPARATE ACCOUNT FOR UNEXPECTED COSTS: life is a mystery. Accidents occur, vehicles break down, and unforeseen bills crop up. Instead of relying on debt or credit facilities in these circumstances, it is beneficial to maintain an emergency fund of savings that is simple to access. Start saving for emergencies to offer yourself peace of mind as you navigate the uncertainties of life.

HAVE YOUR FINANCES AUTOMATED SO YOU STAY ON TRACK: you can save time by setting up automatic transfers and payments. You can save the time you typically spend reading statements and making payments by setting up autopayments on your credit cards, lending accounts, and mortgages. Setting up an automatic transfer to your savings account is another excellent approach to steadily increase your savings.

NEGOTIATE FOR A BETTER SALARY: your ability to earn more money can be greatly increased by working with your employer to upskill yourself, accept more responsibility, and negotiate a higher compensation. The idea is to ask your employer how you can contribute more to the business, then work toward those goals.


The world of personal finance doesn't have to be complicated. Learning is the best approach to improve your ability to manage your own finances.

Contact Clear Review Consultants for a tailor-made financial solution plan on 0215696041 or visit our website to fill out a form: Click here






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