Budgeting Advice

Budgeting will help you see where your money is going; it’s easier to make sure you take into account all your monthly commitments.


Work out you total income, add together all the income you get each month and make sure you include everything-whether its wages, benefits or pensions. If some of your expenses are paid weekly, forth nightly or monthly you’ll need to convert this income into monthly figures.

To do this you need to multiply the weekly figure by 52 and then divide this by 12. This will then give you a calendar month figure to use in your budget.

Prioritizing your Budget


It’s best to start your budget with the information you already know. Most often this is either your past spending habits, or your current income. Both are great ways to start a budget so don’t fret over which one to pick, just go with what sounds easier in your current situation.


As the name suggests, a budget based off your income proactively assigns a role for each rand you make. It IS a great way to manage your money, and it IS also the best way to make sure you are not spending more than you make!  A good rule of thumb is to use a 50-30-20 breakdown for your budget. Start with your NETT (AFTER DEDUCTIONS) –the amount that goes into your bank account each month end – and break it down into three parts.


Base your budget off a percentage of your income; give the hard numbers you ended up with another look to see if they make sense. You may need to spend more than 50% of your income on your needs, or maybe you can’t afford to spend 20% on savings at the moment. Don’t worry about it, but keep your general goals in mind as you adjust your budget to fit your life.

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