3 Steps to Live within your Means

Finding it difficult to make ends meet with more month than money? Take comfort in knowing you are not alone. Balancing the paycheck is a common struggle for most South Africans, so you are not alone. We understand that a Top 10 list of do's and don'ts will be a daunting feat, so we've narrowed it down to 3 simple steps to get you started to help you live within your means.

1. Assess your income and expenses: Start by understanding your monthly income and tracking your expenses. Take a close look at where your money is going and identify areas where you can cut back or make adjustments.
   
   
2. Create a realistic budget: Based on your assessment, develop a budget that aligns with your income and financial goals. Prioritize essential expenses such as housing, utilities, and groceries, and allocate a portion for savings or emergency funds. Be mindful of unnecessary spending and find ways to reduce discretionary expenses.
   
   
3. Practice mindful spending: Make conscious choices when it comes to your purchases. Differentiate between needs and wants, and focus on fulfilling your needs first. Avoid impulsive buying and consider alternatives such as buying used items or borrowing instead of purchasing new ones. Regularly review your budget and adjust as necessary to ensure you are living within your means.