If you are a working person in South Africa right now you are feeling the pinch of the 3 interest rate increases, the 7 petrol price increases, the Eskom increase of 9.61%, all your annual subscriptions have gone up the average 10%. Suddenly you have less disposable income. This tells me 1 thing. Your expenses have gone up and your income has remained the same.

If you don’t re look and re do your budget to cater for these additional expenses, you will very quickly start spending more than you earn. When you spend more than you earn you will get into debt very quickly.

South Africa is a buy-now, pay-later society. The effects on young people’s financial literacy are thus characterised by the same behaviour patterns as parents and society as a whole. These are high credit and high consumer behaviour with very little savings, and in turn high social risk behaviour. MSK is working to change this disastrous pattern.

You have started your first job. It’s the end of month one and you just received your first salary. I can see the look of glee on your face as you ponder on how best to spend your hard-earned cash. I see the thought bubbles “Apple watch”, “A new phone”, “New work wardrobe”. Stop!

You worked hard to earn that money, right? Why throw it away on purchases you don’t really need? You are probably thinking, “You sounds like my parents”.

We all know that life during COVID 19 is filled with countless unavoidable worries of the financial kind. Some may feel it more than others, but we all feel it non-the-less. We are losing our jobs, taking salary cuts and closing our once thriving business. Basically, we go into level 1 of survival mode when it comes to our finances due to the crunch we feel. Here are 5 Tips to get you to the next level of survival mode.