As we all know. Money Savvy or Financial Management means having money left over the end of the month.

Financial Management depends on good spending habits and making sure your income covers, at least, your expenditure

Focus on Solutions rather than the Problems of Financial Management

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In Esoteric circles they say when you focus on the lack of money you attract more of that. Even if you don’t believe this, it is probably a good idea to rather focus on solutions rather than the problem.

Financial Independence

Financial Independence, an outcome of sound Financial Management, is not dependent on the amount of money you get in (income). It is dependent on the amount of money you spend. Financial Independence is being able to do what you want to do, within reason, with the money you bring in.

Money Health Management and Budget Planning

Your budget should support your Short Term and Long Term Goals. Create a plan and budget that works for you. You need to include fun, or you will not stick to your plan.

It has to be a living plan that gets reviewed and adjusted regularly, one you can live by.

Keep track of spending

We spend money according to our hierarchy of values

If you keep track of your spending to see where the money goes:

  • you may find you are spending twice as much on groceries than you thought
  • you are too tired to cook so you get takeouts, often
  • you love sales/gadgets so you overspend on your credit card
  • you will be able to make more educated decisions regarding your money.

If you overspend on budget because it makes you feel better, rather deal with the issue(s) and have money left over the end of the month. You will surely feel better.

If you don’t have a budget, now is the time to create one.

Good Financial Health Management needs a GOOD plan to Get Out Of Debt.

Tighten your belt by 10 - 20% and pay off some of your debt before you even start the month. You may find that you don’t even miss it. Decide what is costing you the most and will make the most difference if paid off. Start with that.

If you have credit cards, have a look at how much interest you are paying altogether. I was shocked the first time I really paid attention. You pay dearly for that service and you could use that money better I am sure.

Don’t get me wrong, I think Credit Cards are great when used well. For one, you get a better interest rate than the banks give you when you have a debit amount, you can also use it for convenience so that you don’t have to carry around a lot of cash.

Get into the habit of saving

I know in South Africa it is hardly worth while saving because of the mingy interest rates, and maybe it will help if we all complained about it and didn’t just take it lying down.

Once you have paid off your debt, take the 10 - 20% and save it. When you have a tidy sum, invest it in something that will give you a good return, not some shady deal. Make sure you do your homework, and don’t put all your eggs in one basket. You will see how quickly your money grows and soon you could be a millionaire.

You will have to cut out a bit of immediate gratification, the latest and greatest and top of the range this or that, but soon you will be able to reap the benefits. You are an individual and you can do it your way. You don’t have to wear the most expensive shoes because everyone else is.

In my opinion it is much “cooler” to use your brain rather than keep up with the neighbours, your colleagues, your mates. Remember the Jones’s are probably trying to keep up with you too, and are probably just as badly in debt, so that leaves everyone worse off.

Being unique and living your purpose is a much greater kick than anything else you can ever imagine.

A snake would never try to get into another’s skin.

Create an Emergency Fund

We all know of those unforeseen circumstances that have the habit of cropping up when least expected and at the most inopportune moments. If you have an Emergency Fund, you will no longer have to lose sleep over these incidents.

Rule of Thumb for expenditure

  • Housing 20 – 35%
  • Transport 15 – 25%
  • Debt Payment 0 – 15%
  • Other expenses 25%
  • Emergency Fund 5 – 10%
    - Reduce Debts and convert into Saving 10%
!!! Expenditure should never exceed income.

Still Struggling

See what your triggers are for spending and deal with them.

Stalk yourself and find out what your Spending Habit Traps are. Look at what you are filling with these spending habits; need for love, attention, status, or something else? Rather fill that need directly.

Still no luck

Getting deeper into a black hole every month, I would guess you have some Money Relationship Issues and you need a few Guerrilla Tactics and a Coach to assist you, and/or Credit / Financial Management Counselling, depending on the severity of the problem.

Get Money Savvy

For assistance and a free introductory session, please fill in and submit the form below, and indicate what your Financial Management Issues are.

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LOCATION: Kommetjie, South Africa -

I work and live in Kommetjie, a far Southern Suburb of Cape Town, on the Atlantic Seaboard. Region: Western Cape (WC) in the Cape Province, (R.S.A.)

Places close by are Scarborough, Ocean View, Imhoff Farm, Capri Village, Masiphumelele, Glencairn Heights, Misty Cliffs, Simon's Town, Kalk Bay, Lakeside, Muizenberg, St James, Fishhoek, Noordhoek, Sun Valley, Sunnydale, and Milkwood Park.


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