Spring is the season for new beginnings and fresh perspectives, but it is not only your home that needs a spring clean. It is also the perfect time to reassess your finances, clear out the clutter and get all your financial affairs in order before the year ends. Research conducted by Sanlam found that over 80% of South Africans experience stress when managing their personal finances, while only 35% of South Africans have faith in their abilities to manage their money, with just 17% feeling content about their current financial situation.
Mariné van Brakel, deputy CEO at RCS, says many South Africans relate to needing a financial spring clean, not just to make their money work harder but to build the confidence to make smarter financial choices. “The best part is that it does not have to be an overwhelming cleaning process. By focusing on a few key aspects of your spending and money management, you can refresh your financial situation and set yourself up for a more secure future and less unnecessary stress.
” She recommends checking in on five areas: your budget, your credit health , your safeguards against fraud , consolidating your debts and updating your financial literacy. ALSO READ: Proper budgeting can save you from financial ruin – here’s how Start with the basics for your finances: your budget No matter where you are in your financial journey, a solid budget is the foundation of smart money management, Van Brakel says. “That is why your first step in a finan.