Saving tips - Getting into the habit of accumulating instead of spending is important

July is National Savings Month and there is no better time to think about how you are going to reach your future financial goals.


Even though 2020 thus far have not been kind to most South African’s pockets, one should not give up on financial goals.


The perception that saving and investing is for people with money only, and in the current environment, people may think that saving is out of the question.


But, people from all income groups can benefit from saving and we need to start somewhere with event a small amount of money.


Building a financial buffer is also important for future emergencies. A good practice is to build a buffer fund of at least three months' salary.


Getting into the habit of accumulating instead of spending, is also very important.


Firstly, try not to spend any of the money that you receive unexpectedly - for instance, a tax refund or your year-end bonus.


Secondly, think about the small amounts of money that you needlessly spend on a daily basis.

Saving money is important and possible for people at all levels. Even in these times, it is within our power to put at least a small amount of money away.



  • Set a savings goal / Create a strategy for an emergency fund
  • Draw up a simple budget
  • See where you can save money / Write a list of all the things you can live without
  • Track your spending / Cut down on spending on luxuries
  • Set a weekly spend cap / Don’t go shopping without a list
  • Make saving one of your "debts"
  • You don’t need a lot of money to save, every little bit helps

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