• Education

Example of a Budget


Net Salary R __________
Plus Other Income R__________
Total Income R__________


Rent / Bond R__________
Groceries R__________
Transport R__________
School Fees R__________
Telephone R__________
Insurance R__________
Loan Repayments R_________
Other R__________

Total Expenses R__________
Income less Expenses R__________

The Importance of Financial Planning and a Budget

  1. Identify how you spend money.
  2. Know the difference between luxuries and necessities.
  3. Make a list of what is absolutely essential that you pay for.
  4. Compare these expenses with your net salary (are you living beyond your means?).
  5. Save what you can! You cannot achieve your financial goals if you do not save every month.
  6. When applying for finance, rather take out a smaller loan over a short period. It is more manageable and quicker to repay.
  7. Pay your debt on time! If you cannot cope with existing repayments, make arrangements with your lenders.
    Do not stop paying. This will have a negative effect on your credit record.
    Expensive legal expenses are added to your account once handed over to a collection company and/or attorneys.
  8. Set a monthly budget and stick to it!
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