Be a smart spender

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The last seven years have taught most of us that money doesn’t grow on trees and you have to be careful with how you spend. Though it can be hard to separate a girl from her credit card or keep her away from a sale, there are ways you can learn to spend wisely. Here’s how:
  • Budget. The first thing is to have a budget and then make every effort to live within it. It may be difficult at first, but limiting yourself to spend on the things that are important and improve your quality of life can save you lots of money without depriving you of a comfortable life.
  • Save. You need to have money saved up for emergencies, long-term goals and your retirement. Make small changes to your spending habits at first and then build up to saving more each month.
  • Speak to someone. Speak to a life coach or financial advisor and have a written plan and budget. Let your family or friends know that you are now working with a budget so they can be supportive. If you feel like you are failing, speak to your coach person for encouragement.
  • Keep track. It may be necessary to write down your expenses as you go through each month and then compare your expenditure with your budget at the end of the month. It may seem tedious, but every rand counts and keeping track of your money gives you feedback on how you are doing.
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