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How to close off business for 2021 | Bookkeeping | Accounting


What better way is there than to prepare for the future by reflecting on your progress? This is why KPIs (key performance indicators) are so important. “It is better to move forward, than to move fast and backwards”. Now, how do you measure that you’re really going forward? 

What do the books say about revenue growth? The “books” are a business’s revenue, expense and income summary reports. Lucky for you if you are using an accounting software, it automatically closes your income and expense accounts at year end before adding your net profit (or loss) to your retained earnings account. If you have not automated this process and recording in your books manually, read on. 

Closing the books annually lets businesses draw up financial statements that give business owners insights into their business’s financial health. This also helps you to properly file for your income tax returns. 

Here are 5 things you need to do before you close off the business year: 

* Monetize all invoices.

Be sure to send out reminders to clients on outstanding payments and that all the invoices are being monetized. If some clients don’t pay you, you can write the invoices off as bad debt (or if you think they are never going to pay you-this is why contract agreements are important). Follow up on invoices and payments, and make sure all the business money has reached the business account. 

* Record your expenses.

ALL your bills go onto this; from things as little as internet costs, fixed costs, to variable costs. This includes incurred business expenses, keep track of those separately; you can claim tax deductions on these.

* Reconcile bank statements.

This is a common practice for many, even for personal finance. This will help you identify discrepancies, possible bank errors, or fraudulent activity that may have happened in your account. This can also help you reflect on some transactions you have authorized, that might kill your business, canceled and uncleared checks. 

* Profit and Loss.

This reports on your business performance over the year. This shows the value of sales, expenses, and overheads and the resulting gross and net profit or loss for the year. Run it from the first day of your fiscal year to the last. 

* Balance Sheet.

This report shows the worth of your business from the day you started trading, up to the end of the fiscal year. It includes your company assets and liabilities. 

That’s a few pointers from us. Let us know what your year end closing tradition is like, we would love to hear about the different ways for different businesses. 

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Black Friday for Business | 2021 | South Africa

Black Friday?  



Just so you know, Black Friday is the biggest international sale that was started in the early 1900s in USA and to date, it is still the biggest last Friday of November where consumers around the world buy necessities to prepare for the holiday and gifting season. It is an annual shopping event that businesses and customers all over the world eagerly anticipate

Small businesses can take advantage of Black Friday, this presents you with an opportunity to win customers and keep them coming back for more. Everyone likes saving and getting discounts.   

Although Black Friday 2020 was a flop for South African retailers – statistics show, with a huge decrease in in-store sales. Shoppers avoided malls and stores due to coronavirus – but also there was a lack of money in their pockets, because of the economic impact of the virus and lockdown. But this year, we’re getting more prepared and focusing on what we can change/improve. 

We had already had a social media post that summarises this, but in this blog we will discuss this in detail. Keep reading! 

Here are 3 things you can do:  

1️⃣ Social listening: Black Friday is on everyone’s lips, tune in your target market’s conversation to find out what kind of deals they hope to find. You can do a keyword research on either Google or Social Media to find out this information, see what people are mostly searching or talking about. 

That is why market research, before anything else is so important so you may know your customers. Know where to find them, how to find them, and how to entice them. 

2️⃣ Start preaching & marketing: customers research in advance, start advertising teasers. Some people already have a budget dedicatedly Black Friday deals, help them make buying decisions. On the day/weekend, people will be going straight where they want specific things and not hop into shop after shop. 

5 Black Friday Marketing Ideas:

  • On-site notifications
  • Popups
  • Email marketing
  • Flash sale
  • Social media ads 

3️⃣ Make the experience smooth: Over the past year, Covid-19 restrictions pushed many traditional stores and customers online. Online transactions increased by more than 60% – more brands selling online means higher competition. More customers, especially those who are new to the digital retail space, means new challenges and demands. 

Now that the restrictions are lifted, it might be quite a mess at physical shops, online shops also get a lot of traffic. Make sure you are prepared for the numbers and offer a variety of payment options. If need be, hire a VA (virtual assistant) if your business is online based and make arrangements with your developers to make sure your e-commerce site can take the traffic. If you have a physical store, prepare your team to be active and on the ground – helping customers. 

Before the launch of your Black Friday marketing campaigns, make sure you didn’t neglect the details that can make or break the customer experience. Take a careful look at your store or website and see if there is any room for improvement.

Do you have any Black Friday deals planned?  

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RETIREMENT ANNUITY | RETIREMENT PLAN

What’s your plan after Retirement? How are you planning to continue living your comfortable lifestyle even after retirement? 

This is where Retirement Annuities come in. It is a lifetime guaranteed monthly or annual income for a retiree until their death. You might be asking how this is different from a Pension Fund or Provident Fund? Let’s break it down for you before we get any further… 

Different types of retirement vehicles:

Pension fund – You can only join a pension fund, through the company that employs you. Your money is managed by the trustees of the fund and your contributions as well as your employer’s contributions are tax deductible. 

Provident fund – with provident fund, you are able to withdraw the entire savings amount as a lump sum when you retire. 

Retirement annuity fund – a retirement annuity fund is independent of your employer, it allows you to choose what funds you invest this money in and you can also make monthly contributions. 

Retirement Annuity Plan 

Retirement Planning is important because it enables you to invest your money for a time when you will no longer be working but want to continue living comfortably with regular income.

However, this is barely ever enough to guarantee a comfortable retirement, simply because the value of money changes over time due to factors such as inflation and interest rates – which is why it is imperative that one makes additional contributions to their retirement plan, over and above the employer’s contribution. 

For example

Someone who’s been contributing R300 per month with their employer doing the same over the past 10 years, that amounts to R600 total contribution per month. This means that this person has saved R72 000 over the past 10 years. If this person continues to work for more than 30 years, given that nothing changes, a contribution of R600 per month over the next 30 years equals R216 000. Adding this to the R72 000 that was saved equals R288 000. 

Disclaimer: this amount does not take into account inflation and interest rates.

Retirement annuities can be taken up as an additional investment plan for retirement which will guarantee you fixed or variable payments over time during your years of retirement.

Over and above your Retirement Annuities, there’s a few things you can do to ensure you still live a comfortable life even after retirement;

1️⃣ Start saving and investing now.  Try to take up a minimum of 10% of your income and put into your savings and investments and increase this as your income increases over the years. You can also automate this process by creating debit orders so that the money is deducted automatically from your account on payday. It’s a great way to grow your wealth.

2️⃣ Adopt healthy lifestyle choices. Your mind, body and income are wealth-building tools. Don’t destroy them with unhealthy and expensive habits and addictions that are expensive to treat.

3️⃣ NEVER cash out your pension funds when you change jobs, rather transfer it to your new employer’s pension fund.

We have pretty much covered anything, you can look up different companies that offer different Retirement Annuity investment plans, compare and pick one that makes more sense to you.

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Work + Mental Health | #MentalHealthAwarenessMonth

October is dubbed Mental Health Awareness month, with 10 October being the World Mental Health Day – recognized by the World Health Organization. We can all agree that this year especially, has been a tough month for South Africa more specifically… with the civil unrest, looting and 3rd wave of the pandemic negatively affecting many South Africans – resulting in job loss, salary reduction, and work hours cut. 

This is not only affecting businesses and entrepreneurs, but EVERYONE. Work stress is quite common and can lead to bigger problems, such as depression and anxiety – if left unchecked. This does not only affect one emotionally, but it reduces productivity. 

Some of the common factors that can contribute to people’s mental health problems include:

* Hectic work schedules,

* Lack of support from seniors/management,

* Unhealthy work environments.

There’s ways to combat this without quitting your job – however sometimes it leads to that. Considering the amount of time we spend on work, it’s important to be in a stress free workplace. Stressful times will be there because of deadlines and other pressures, but that shouldn’t take up so much of your peace. 

The following 5 tips can help you improve your overall mental health at work. 

1️⃣ Identify the root of the problem 

 The first thing to solving a problem is understanding it, and where it roots from – notice the signs of the problem. Sometimes the problem doesn’t stem from work, it could be a more personal issue that’s affecting your work performance, relationships, etc. When our mind, body/soul doesn’t have balance, things go south. 

2️⃣ Take frequent breaks & harness your leave days 

Breaks are so important, let’s not romanticize hard labour and overworking. It’s good to put in extra effort in your work, but it’s just as important to get some rest. Whenever you get a chance; take a breather, take some time off. Listen to your body. 

3️⃣ Set small, manageable goals 

A to-do list can be so overwhelming really. Looking at all the stuff on the list and your mine is already telling you “we’re never going to finish this today”, that already kind of breaks your spirit. Break down bigger goals into smaller tasks, it saves you the anxiety and possible procrastination. Do what you have energy and enthusiasm for first: depending on brain power. Use all the help you have by delegating where you can, sharing tasks, and theme your day/week. 

4️⃣ Talk to human resource 

It is important to exercise your rights in the workplace, respectfully. It is said “If organizational or management issues are creating mental distress, it is important to alert a human resources professional at their organization to discuss”. You are not steering trouble, you are prioritising your mental health and that’s a good move. HR professionals are required to have this “on the record” if an employee is under emotional distress, by law required to address the issue. Sometimes it might not be problems you are experiencing in the workplace per se, but they need to know so the organisation can best support you. 

5️⃣ Knows your triggers and get help 

Unfortunately, expecting everyone to tiptoe around what triggers you is unrealistic. Learn to work through your own triggers, whether it’s work or personal. If need be, seek professional help which will help you figure practical solutions to deal with triggering moments. Journaling your thoughts and situations which lead to stress can also help you identify them so that next time they show up, you may quickly shut them down by doing breathing exercises, stretching, etc. You can also try setting boundaries, expectations, and any other way to protect yourself/your mental health. 


A bonus tip would be adding personal items to a workspace. This can help you feel better when you’re having a hard time. When people can look at reminders of their loved ones, favorite moments or hobbies, it can help them feel centered and positive as they think about the things that make them happiest.

Let us know how you combat mental health at work if you’ve experienced it, we’d love to hear from you!

Also if you missed this, we previously shared on How To Keep Employees Motivated and Productive around this time of the year as the manager. Find it here: https://accasesolutions.co.za/2021/08/28/how-to-keep-employees-motivated-and-productive/

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All about NPOs in South Africa

We have touched on Public Benefits Organizations not so long ago on one of our #FunFactsWednedays video, let us to continue this chat. 

What is an NPO?

We cannot assume you know, let’s get to understand what an NPO is. An NPO is a Nonprofit Organisation that plays a significant role in society, they take responsibility of the social and development needs of the country.

How to get started: 

Just like any other business/organisation, there must be intent or purpose of starting. Start here: 

1️⃣ Define your goal – before you could even register, you just at least know what your NPO will stand for. Knowing your WHY is important, it will help you navigate things more especially in cases where you need to go back to the drawing board. What exactly do you hope to achieve once you start the organization? Read more: What exactly do you hope to achieve once you start the organization?

2️⃣ Choose your board of Directors – selecting management of the NPO is probably the most fundamental step. Bring in like-minded people on board, it’s even better to get people from different industries who could come in with different perspectives during different situations. 

3️⃣ Draft your memorandum – this is important as it proves your intention to register the organization as a “not-for-profit” company – followed by information about how the organization would be governed, owned, and other important things to note therein.

Lastly, register. 

About registering your NPO

You can submit your non-profit organisation (NPO) application at your nearest provincial  social development office or a local South African Revenue Service (SARS) branch office. 

Benefits of registering is that its certificate:

  • improves your credibility and increases funding opportunities
  • it allows your organisation to open a bank account
  • helps your organisation with tax incentives.

The prerequisites of registering is that you must be one of the following:

  • non-governmental organisation (NGO)
  • community-based organisation (CBO)
  • faith-based organisation (FBO).

Do NPOs pay tax? 

However these organisations are “nonprofit”, they do not automatically qualify for tax exemption, the organisations that meet the requirements set out in the Income Tax Act, 1962 must apply for this exemption. Only IF the exemption application has been approved by SARS, the organisation will then be registered as a Public Benefit Organisation (PBO) and allocated a unique PBO reference number. 

These organisations can issue section 18A certificates – which allow for tax deduction to parties who make donations to such organisations. This becomes an attraction to donors because they get to enjoy these tax benefits therein by making donations to your organisation. 

As a member of a Public Benefit Company/Organisation, familiarise yourself with the conditions of the section 18A or contact Accase Solutions and we will gladly assist: 

✉️: info@accasesolutions.co.za

☎: 0615238833

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Bookkeeping Guide

Let’s not assume you know, and take it from the top. 

Bookkeeping is the recording of financial transactions made by a business, this means keeping track of what your business spends and what you receive. The  transactions would be recorded in daybooks, cashbooks, or journals, you can also use a spreadsheet program like Microsoft Excel.

Do you need a bookkeeper for your business? 

You can either do this by setting up a software, or hire a bookkeeper to keep your books in check. A Bookkeeper’s responsibility is to record, classify, and organize every financial transaction that is made throughout business operations. 

Amongst other reasons, one of the reasons why some startups fail is due to the poor management of money: sole business owners mostly can relate. It gets a bit challenging to separate business finances form personal finances, making it harder to account for some of the money that comes in, and goes out of the business because no one is holding you accountable for anything. This is where bookkeeping comes in. When studied thoroughly, you can see some of your spending habits which you need to change.

3 reasons why you need bookkeeping:

  1. To reflect on whether you are spending more than you make, vise versa. Moreover, bookkeeping enables you to seamlessly analyze your expenses, and adjust your budget, if need be. You will have a record of all your financial information you may need in a case where you want to plan or budget for the future. 
  2. You can curate accurate tax returns. Tax preparation can be a stressful season for small business owners, this is where bookkeeping comes in. Instead of looking through a pile of documents to get the required information, bookkeeping ensures that this information is well organized beforehand.
  3. We have mentioned before, cashflow is one of the struggles small businesses have. Bookkeeping will help you mitigate that challenge by keeping track of the cash going in and out of your business. Having this kind of information will give you the confidence and peace of mind you need to make financial decisions. 

Bookkeeping: How-To

  1. Record your sales (in a cashbook/spreadsheet).
  2. Note down every business-related purchase (keep proof of purchase).
  3. Regularly cross-referencing your business books against your bank statements to check that the transactions and balances match, A.K.A Reconciliation. 

Other things to note…

  1. Accounts receivable, i.e. issuing invoices and making sure they’re paid, and accounts payable, i.e.paying bills on time.
  2. Payroll (paying employees). 


Bookkeeping software

There are many small businesses that use online bookkeeping software to speed up the job, this also cuts down on human data-entry errors and saves time. The benefits of these tools include, but not limited to: automatically pay bills, send automated invoice reminders to people who owe you money, and allow you to check cash flow from your phone. 


Here are 3 softwares you can check out:

1️⃣ Sage 

2️⃣ Xero 

3️⃣ QuickBooks


I’m conclusion…

If you are too much of a busy for bookkeeping for your small business, then you can find someone to do it for you; outsource or hire. We have an article on what’s the best option between the two, again this depends on a number of things. If you wish to get a bookkeeper for your business, look no further: Accase Solutions would love to assist! Reach us here: 

 ✉️: info@accasesolutions.co.za

☎: 0615238833

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How to use customers as brand advocates

Ever heard the saying “people believe people, not brand”? This is mostly said in marketing, and that is why lately we see more brands work with Influencers. A campaign with a brand influencer is likely to perform better than an advert of a product without a user, a bonus is that influencer already have a strong community. In this article, we will show you a few ways in which you can use customers as your brand advocates. 



Businesses that market themselves on digital platforms use content to communicate with their customers, attract prospects and retain their current clientele. What we mean when we say your customers are your brand advocates is that they will create the content for you and do the marketing for your, this is called Customer Generated Content in marketing.

User Generated Content is the type of content that is created by users or customers of your brand. This content usually indirectly markets a given brand due to the relationship fans and customers have with the brand. This type of content is given by means of testimonials by customers to market your products or services.

Practical example… here’s a non requested review on Facebook and feedback;

 

Although positive customer feedback is important for brand success, taking proactive measures toward turning these satisfied customers into brand advocates is key to long-term loyalty and attracting new customers in the process. 

“It is harder to acquire a new client than to retain one”. 

Now the to the real question, how can a brand turn satisfied customers into loyal brand advocates? Here are 3 ways to do so:

1️⃣ Build a community  

A community is something a customer can FEEL part of, it gives a sense of belonging – it’s all about common interests and meaningful connections. 

The nice things about investing in an online community is that it is one of the most valuable thing any brand can have for long-term success. Some benefits include your people standing up for you. 

A community is also a great way to acquire feedback, it personalizes people’s experience and make them feel like they are talking to human beings, not brands. This is great because when they are not satisfied with your product, they will be able to talk and not go on to social media to “expose” you, they have a 2 way communication after all. 

2️⃣ Customer service 

More than anything, people remember how you treat them. Ever heard it been said “when your customer comes to you with an inquiry, they already have a competitor in mind”? The best way to win then over is through efficient customer service…and that means responding timely, politely and explaining clearly if need be. 


One of the best things about good customer service is that when things go wrong or they encounter a problem, they will communicate with the same energy, politely. 

3️⃣ After service 

Every relationship needs good communication to work, it’s a good practice to do so with your customers as well. Whether you’re asking for a review or any form if feedback, it’s always good to get feedback from clients. This also helps you know how good is your service, if you’re serving them well or need improvement. 

Some brands give points when you give a review. You don’t necessarily have to do this, however you have have that after sale conversations to make them feel you care.

These are just the 3 ways we wanted to share with you, there are definitely many more. If you have a way of getting your customer be loyal to you, let us know how you do that, we love hearing from you! 

Don’t forget to connect with us on social media for daily updates about the latest news updates, tips and other good content regarding business: @accasesolutions. 

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How to keep employees motivated and productive.


It is almost year end: people are getting exhausted, it’s been tough for all of us, we’re getting burnt out, etc. In times like these, it’s hard to keep focused, stay motivated and productive. It’s part of your responsibility as a manager to help your team, sometimes people are “too busy to get any work done”. This means that people are “working” but not getting any work done. Yep, it happens. 

5 ways to keep your employees productive and motivated:

1️⃣ Match tasks to skills/

Nothing beats team work. It’s not a cliché that “team work makes the dream work”, trying to do everything alone can be so exhausting, let alone something you don’t enjoy. Hence it’s important to know your team’s zone of genius so you can delegate accordingly, and know their chronotype. It’s also worth noting that someone might be good at something, but not enjoy it.  

A guide on how to know your zone of genius…

ZONE OF GENIUS

Write down the following:

1️⃣ things you love doing and good at at.

2️⃣ things you like doing, good at, and can get done.

3️⃣ things you don’t like doing, but good at.

4️⃣ don’t like doing and not good at.

The first point is very important to know, that’s when one operates at their absolute best and does it 10x greater because they enjoy it. A simple conversation can help you figure out this about your team, and then make decisions. 

2️⃣ Allow for flexibility/remote working 

Everyone is effective in different places, at different hours. Some work well in the office, at the coffee shop, some even at home. It’s best that you give people the flexibility and not “box them” in the office, as long as they get the job done. 

Consider your flexible and remote working policy.

 

3️⃣ Appreciate and/or reward them 

Humans are wired to gratification. Yes they get a salary and maybe bonus once a year, but that’s just compensation for the work they’ve done. It boosts one’s confidence to get noticed for their contribution. When you are confident, you are at your best and can produce more results. 

Everyone wants to feel valued in the workplace and being recognized for the work that they did. Nothing’s more motivating than your employer saying ‘great job’.

4️⃣ Support them 

You know what they say…

Give before you receive 

Listen before you speak 

Support others if you want support 

Show employees that as much as you wanna get good results from them, you care about them too/their well-being. Everyone has their own lives outside of work which may affect thief ability to perform their best. Provide support in their physical health, mental health, etc. 

5️⃣ Give them a great experience 

Your employee’s overall experience has a big impact on productivity. Everyone is driven by different goals and aspirations. Some employees are motivated by a good balance between work and life, while others are motivated by money.

Companies need to prioritize knowing what motivates and drives their people and work with them to create positive experiences so that they are doing their best work.

We hope this helps you if you are a manager, or a team leader. It is important to ensure everyone is not only getting the work done, but also we’ll taken care of so they can be their best. Let us in the comments how you plan on implementing some of the points, or what methodologies you use to keep your team motivated and productive. 

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Common startup failure reasons in South Africa

South Africa has one of the highest business failure rates in the world, with five out of seven of these businesses failing within the first year of operation. This is worth looking into if you are considering starting a business or have a new startup who wants in for a long haul. Read on…

For a country with such a high rate of unemployment, this is very concerning. SMMEs play a crucial role in counteracting the major challenge of unemployment. What’s the gap between SMMEs and acquiring talent/skills from the qualified? 

As said by the specialist advisory service, access to finance is a major stumbling block,  with only 6% of SMMEs report to have received government support. Although there are government programmes and initiatives, some still find it relatively difficult to get funding due to criterion and/ or requirements.

Although there are many different reasons why start ups fail, we can’t narrow it down to 1 thing. This is worth looking into. In this blog, we will look at only 3 reasons why…

3️⃣ common reasons why South African startups fail:

1️⃣ Liquidation

In finance and economics, liquidation refers to the closing of a business when liabilities exceed assets and it can be resolved by voluntary action or by an order of the court. “216 companies were liquidated in March 2021, compared to the 178 the month before – a 21% jump. Voluntary liquidations increased by 61 cases and compulsory liquidations increased by 10 cases. This is 49% higher than the total liquidations registered in March 2020.”

Sourcewww.businesstech.co.za/news

2️⃣ Lack of skills and knowledge

They say “illiteracy in business is another reason for small business failure.although it is worth noting that finding skills/talent is not limited to finding a good cashier for example, but finding the skills + right attitude. This means finding a person with people skills (attitude towards customers), and functional skills (e.g., planning, organizing, leading and controlling). Find a team with both technical skills and people skills to keep customers coming back.

3️⃣ Poor sales and marketing

Sales is the heart of a business and marketing keeps it alive. Nothing’s more important than brand awareness. No matter how great your product/service might be, your business will take a dip if no one knows about it. Sometimes you don’t need a 20 page business plan, you need proper marketing! 

It is by far more costly to to win a new market than to preserve an existing one. It takes time to raise brand awareness, build up sales, build a new team, etc. If you can, save your small business. 

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Savings: 5 Ways To Improve Your Financial Health.

Let’s take it back a little, Savings Month is more than just a hashtag or buzz. Everyone was pumped up about it but above the hype, it was to raise awareness. Let’s break it down. 

[Background] What is Savings Month? 

Savings Month is a campaign by the South African Savings Institute (SASI) to raise savings awareness nationally in July annually, and the main objective of the campaign is to bring together financial experts to provide insights on savings through the #waystosave financial education initiative that:

  • Promotes debate around key aspects of saving
  • Raise awareness of the benefits of short, medium and long term planning
  • Build relationships with key partners to leverage future opportunities
  • Get consumers to move from ennui into action


2021 Theme

SASI CEO Gerald Mwandiambira said that in 2021, the focus is on driving awareness around how savings knowledge must be understood and accessible in more South African languages. Everyone can find ways to save in their own language. 

“If you talk to a man in a language he understands, that goes to his head. If you talk to him in his own language, that goes to his heart.“ ~ Nelson Mandela 

Now more than ever – amid the pandemic, it’s critical to be money smart. Report by the SARB Financial Stability Review shows improvement in household savings, but also shows we can save when under pressure. It is important to also note that South Africa still has one of the lowest Household Savings Ratios in the world. 

In our increasingly tough economic environment we need to find ways to save and avoid the credit trap. We looked at saving by cutting costs on our blog on How To Cut Costs In Your Business, now let’s look at how you can use your money wisely to improve your overall financial health. 

5 steps to improve your financial health:

1️⃣ Attach yourself to a savings goal 

Although it’s a good thing to have big goals/dreams, it’s always wise to break it down to smaller bits. It’s motivating as it doesn’t seem far fetched. Set small, medium and long term goals. 

2️⃣ Draw a budget, including savings 

It is said “A budget is telling you where your money goes instead of wondering where it went”. Now the question is, do you know where your money goes? 

Just to add on popular advise that you to save at least 10% of your income towards your savings, we advise it is the first thing you do before spending.

 

3️⃣ Automate your savings

You can discuss this with your bank, or use apps invented to automatically deduct money from your money – into your savings account every month. Apps like 22seven, Moneysmart, My Financial Life, and many more! 

With FNB for instance, you can schedule recurring payments into any of your accounts like savings account, and even your credit card. 

4️⃣ Track to improve your bad spending habits 

There’s a method some/most people use to do this…where you print out your monthly statements to see where most of your money goes. 

This does not only help you navigate where your money goes, but it also helps you see where are you WASTING your money. Like eating take aways a lot, or frequently purchasing airtime via cellphone banking when you can find a reasonable data plan that works for you. 

5️⃣ Live within your means 

There’s nothing more important than this. You may be earning the same salary with your colleagues, but your responsibilities may not be the same and therefore you can’t spend the same… like buying lunch from the cafeteria everyday, or going out for drinks every Friday night. 

It’s important to focus on your budget and financial goals, don’t go where the wind blows or your money will finish just like that.  Focus. 

We hope these help you in some way, we would love to hear how you save money and stay committed.