How do you go about managing your money?
The annual Budget Speech is expected to be delivered in parliament today, and Damon wants to know how you go about managing your finances.
All eyes will be on our Finance Minister, Tito Mboweni when he delivers his Budget Speech which takes place today at 2:00 pm. It will be held at the Parliament Buildings in Cape Town.
READ: Darren Maule's Budget Speech for Dummies
So why will everyone be tuned in? Well, it basically will tell South Africans where their hard earned tax money is going and will showcase how the government will plan to spend their budget. The budget speech has a direct impact on the everyday South African as it will also outline how much tax we are expected to pay.
While on the topic of budgets, how do you go about handling your finances? Budgeting is important as it will help you to allocate your money in the most effective way possible.
ALSO - How to shop on a budget: Local fashion blogger shares her tips
Life Hack has put together some budgeting tips that everyone should make use of:
- Pay yourself for your hard work - Remember to stash some money aside in a savings account to spoil yourself on that item that you so badly wanted.
- Expected the unexpected - Sometimes unexpected costs creep up on you. Budget for these in a separate account or stash it away so you don't have to dip into your savings or break the bank.
- Pay your debts - Get your debts out the way first so you can breathe easier. There's nothing worse than having debts hanging over your head for months on end.
How do you go about managing your money? Do you stick to a budget or have another proven way?
