She's always been financially savvy and, while becoming Miss South Africa 2021 meant more financial freedom for her, Lalela Mswane stuck to her motto to 'save, save, save' even after winning the Miss SA crown.
Speaking to Drum, the Miss Universe 2021 second runner-up shares that her parents have always instilled a culture of saving, and during tough financial times, it's those lessons that enable her to continue enjoying financial freedom.
She appears in the premiere of financial education TV quiz show, the Sanlam Moola-Money Family Game Show, where she tests her money knowledge.
Read more | Talking money with presenter and businesswoman Boity Thulo
She faced off against legendary cricketer Vernom Philander in a special celebrity episode and was paired with UCT Online High School student, Zoe Petersen, battling out for bragging rights and a R50 000 prize for their chosen charity.
Lalela says she is on a mission to be a "fierce world warrior improving the lives of others" and is passionate about sharing her knowledge– including her journey to financial confidence.
For the 25-year-old, improving the financial education levels of South Africans is a priority.
"I enjoyed financial freedom prior to being Miss South Africa because actively saving money is a big part of my life. Of course, the Miss South Africa title granted me a great financial boost. My parents instilled a culture of financial saving in my siblings and in me from a young age so I’m naturally inclined to save at all times," she tells Drum.
Lalela advises her peers to practise saving, even if it's little, "it goes a long way".
"I’d definitely advise my fellow age mates to not spend more than they have and to know that it’s always positive to save, no matter how little you deem the saving to be. A little saving is better than no saving at all," she shares.
She calls herself a budget queen because she doesn't spend frivolously, she shares why budgeting is important to her.
"Two tips immediately come to mind. Firstly to re-assess spending habits. Secondly, to maximise loyalty and reward programmes," says Lalela.
Read more | Miss SA Lalela Mswane on making the top 3 at Miss Universe – ‘It has been beyond my wildest expectations’
Here are four key insights from Miss SA on her financial journey and philosophy:
Philosophy
The 25-year-old says she learned some valuable money life lessons the hard way. Now, her philosophy is to be circumspect. “Don’t spend money you don’t have. I’m a firm believer in that.”
Lessons from her dad
The self-described ‘budget queen’ says that she learned most of her financial knowledge from her parents, especially her father who was an economist.
“He really taught us the value of money. I wasn’t just given money loosely. If I wanted something, I saved for it. There are a lot of lessons that were imparted.”
Save, save, save
The biggest lesson Lalela learned from her family was the vital importance of saving. She says that’s the one thing she’d like to impart to other young people.
“My mom always told my siblings and me to save – no matter how little you may be making. I think sometimes we’re trapped into thinking ‘I earn so little anyway, there’s no need for me to save’. But you need to save the little you have whenever you can – you just find a way to make it possible.”
Disruptive financial education
She’s excited to be on Moola Money because of the platform it creates for fun, disruptive financial education.
For Lalela, informed money management means empowerment. And empowerment is what this go-getter is all about. Lalela is tenacious and driven.
She’s a dancer with a law degree, on a mission to change the world – and, more specifically, the plight of young people in South Africa. Her Lalela Mswane Foundation aims to empower parentless youths through mentorship and skills training.
