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10 Tips for stress free finances

Posted: 16 Nov 2015

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Taking control

It is so easy to let your finances get out of control if you are not keeping track of what you are spending during the month. In order to prevent a financial breakdown, we share a few basic tips that will help you avoid stressful situations:
  1. Even the smallest amount that you put away every month is better than nothing.
  2. Put a stop to your impulsive buying habits. Yes you might feel that you deserve that take away dinner or dress after a bad day at work, but be careful as the happiness might be short lived when you receive your bill at the end of the month.
  3. Cut all your unnecessary expenses. If it is not a primary need think twice before you purchase the item.
  4. Take out insurance to cover your family’s future and your property – insurance will give you peace of mind should something unexpected happen.
  5. Do not take on more debt than you can afford. If you are already cutting it thin, do not open another clothing account or spend more on your credit card.
  6. Always try to pay more than the minimum installment on an account.
  7. If you have certain goals that you wish to achieve, set up a plan so that you are able to reach these goals.
  8. Emergency funds are important. Have an emergency fund available every month … you never know when this might come in handy and save you from making more debt.
  9. Educate yourself – You need to educate yourself on credit and financial concepts. If you are reading this you are already well on your way.
  10. Think of savings as a payment to yourself. You need to pay yourself first, you deserve it. You worked hard for your money!

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