Manage your personal finances
Budgeting is the best tool any South African can have in his or her personal skills arsenal. Here are some of the reasons why you should use it to manage your personal finances:
Most importantly, it disciplines you to live within your means. This may seem a little obvious, but when you stop to think about it, organising your income and expenses in a way that allows you a bit of space to wiggle when times are tough, is an obvious way to ensure that you don’t incur unnecessary financial burdens.
It teaches self-discipline. So that, even when you are earning a nice, robust salary, a monthly budget will teach you the self-discipline required to make sure that not all of it is spent at once.
Provide for your future
It allows you to provide for your future. While you may be earning good money at the moment, the day will come when you are either too old to continue working in your industry full-time, or when you would like to scale down and take some time off to enjoy your golden years. If you budget effectively, putting money away for retirement is an automatic part of the plan!
It empowers the next generation. If you are in the fortunate position to have a family, leading by example when it comes to finances, is a vital role for you as a parent. Our children learn their spending habits at home, so if your child grows up working within a budget, chances are they’ll continue to do so when they start earning their own money.
TOP TIP: Not sure how to draw up a budget? No problem! Except for all the available apps that can be accessed on your smart phone, Libertine Consultants now offers a service that will help you reach your goals and realise your vision through effective budgeting.
If you feel that your situation has progressed beyond the point and that budgeting, by itself, will no longer be effective, we will also assist you. We are here to help you understand and improve your financial situation – Get rid of all debt-related stress and live a happy, financially secure life! Get in touch with Libertine Consultants today.