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Tips to improve your financial management

TIPS AND TRICKS  |  DEC 31, 2022


Manage your finances with these institutions and tips from Clearwater Mall so you can breathe easy knowing you’re investing in your future with the help of the experts. 

Simple budgeting tips 

Before paying the finance experts a visit, it’s always a good idea to get a gauge of where you are when it comes to your finances. We recommend coming up with a budget so you are armed and ready to hit the ground running with all the facts when you visit Clearwater Mall. This way, you’ll be able to know exactly how much disposable income you are working with and what areas need improving so you can find the perfect financial solution that’s tailored to you and your budget. Take a look below at how to quickly and simply put a budget together for your household.

Calculate your net income 

The first step and the foundation of every effective budget is your net income, which is the total amount of money you’re left with after your salary minus all the deductions such as taxes, retirement plan, health insurance and so on. You need to use your net income instead of your total salary when budgeting because if you use your salary, it could lead to overspending due to you thinking you have more money available than you really do. 

Track your spending 

Once you know how much money you have to work with every month, the next step is to figure out where it’s going every month. Track and categorise your expenses so you can see how much and where you are spending your money. This will make it easier to cut out unnecessary expenses, as you’ll be shocked to see how much money you spend frivolously every month. 

Begin by listing your monthly expenses, such as your rent, utilities, car payments, and any other expenses you have on a monthly basis. Next, start listing your other expenses that may vary from month to month, such as your grocery bill, petrol expenses, entertainment, and hobby expenses. This is where you’ll find the opportunity to cut back on spending. 

Set realistic goals 

Now that you have all the information available to you, it’s time to start setting budget goals but be aware of the risk of setting unrealistic goals, as this may lead to a total failure in the budget when you don’t even come close to meeting your target. Rather start slow and cut out a few frivolous expenses every month so you can see how easy it can be and then work up from there. Another thing to note is that if you set a realistic goal to save up for, such as a holiday for the family, you’ll be more inclined to stick to your budget. 

Make a plan and adjust your spending to stay on budget 

This is where everything comes together; what you’re actually spending vs what you want to spend. Once you know the numbers, it’ll be easier to adjust your spending to stay on budget. And always remember that the smallest savings can add up to a lot of money, and you might be surprised at how much extra money you’ll be saving by making a few minor adjustments. 

Simple financial management tips 

Now that you know how much disposable income you have every month, it’s on to the next stage, financial management. When it comes to financial planning and financial management tips, it’s always best to speak to the experts. Visit these financial institutions in Clearwater Mall to see how you can make your finances last longer and invest in a better future for both you and your family.

Absa is one of South Africa’s largest financial services organisations that services personal, commercial, and corporate customers. Offering bank accounts, loans, and other general banking services, Absa always offers fast and convenient services to their customers. Visit the Absa branch in Clearwater Mall today to open an account and get advice on how to best invest in your future. 

African Bank is continually innovating financial solutions that are more valuable and accessible for the people than ever before, and this they call humanity through banking. Placing an emphasis on their values of transparency, African Bank is committed to providing open and honest banking solutions to all the people of Africa. Offering financial products and services to an array of consumers, African Bank in Clearwater Mall is ready to welcome you and give you the advice you need to make a better life for yourself through clever financing solutions. 

When it comes to simplicity in banking, Capitec is the name that springs to mind. Offering flexible savings, transparent fees, affordable credit options and no hidden costs, Capitec makes banking simple. Pop into the Capitec branch in Clearwater Mall to transact, save, and insure with a bank you can trust. 

The oldest bank in South Africa, FNB prides themselves on their South African roots and offers affordable banking solutions for everyone. From corporate banking to private banking, FNB offers an array of financial services that can help you build a better future. Visit the branch in Clearwater Mall to start saving today. 

See money differently when you bank at Nedbank and see for yourself how well-managed money can make a real difference. Visit the Nedbank branch in Clearwater Mall to set up a bank account, loan, credit card, or find financing for your business. Speak to one of their friendly advisers and get expert advice that’ll help you set yourself up for the future. 

Let Old Mutual help you invest in your future when you visit the Clearwater Mall branch and find financial solutions that are tailored to you and your needs. Because they understand that everyone has goals and want to help all their customers turn their dreams into a reality. Speak to the experts today to see how they can help you. 

Standard Bank offers loans, finance support and other financial solutions at highly affordable rates, and they are always ready to help you invest in your future. Speak to one of their friendly advisors today so you can start preparing for a better future tomorrow. 

Final words 

Visit Clearwater Mall to speak to the finance experts and find tailored financial solutions for you. No matter if you’re searching for personal or business loans, Clearwater Mall in Roodepoort has an array of financial institutions that can help you turn your dreams into a reality.

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