BEING able to manage money is an important skill too few people know.
Because July is National Savings Month, DebtSafe provided a few tips to help people make good money decisions.
These tips demand commitment and proper planning in order to succeed.
A teachable moment
Life throws many surprises which are often very expensive.
This is why you should not be too dependent on others or stay in a comfort zone because of your current situation.
A goal to consider
It is never too late to start this type of savings fund. You can start with a small amount at first and add more to the total whenever you can.
Exercise your savings
Find other sources of income or extra cash to boost your savings. This will give you the freedom to be as bold and creative as you strive to do what you’re good at.
These extra savings can be tucked away for those unforeseen emergencies or for short, medium and long-term financial goals you might have.
Financial challenges
Much of adulthood is about dealing with financial challenges. You have to face these trials hands on without feeling utterly defeated. Remember to always be prepared as best you can and be forward thinking about your financial strategies.
Move on from your mistakes
Have you made a few bad slip ups? So what? We all do. Learn from your mistakes rather getting stuck in the past and regretting everything you did wrong.
Learn to ask for help
While making a financial change requires not getting hung up over past mistakes, you do need to learn from your mistakes. You owe it to yourself to get the assistance you need to get your finances on track again. Do proper research and find registered or credited financial experts who can help.
Bankers and financial planners are good but if you are in debt trouble, contact a debt counsellor recommended by the National Credit Regulator.
