tag:blogger.com,1999:blog-31314527526121681042024-03-14T20:49:58.438+02:00eishstudentbudget™eishstudentbudget is a personal finance blog that educates university students on their finances. Take the 'eish' out of student finances!™eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-3131452752612168104.post-60866034284704545772024-01-05T12:45:00.007+02:002024-01-09T19:44:00.316+02:009 Things to Leave Behind in the New Year | Build Better Financial Habits in 2024<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIXiKD3t-1hOweaVNKGQ9tL67oo9CacGzJUeHZE5UG4SADz7Ts4XFLutpa8b20cKJzA-kZsCXlXx8mA3_hHnUKIdKQPxur30kAKx_2SKhqro7P0JXoONDeMBHW0vXixV74hBhX8u9p_OLPWnYlMqZ2jjiw4BTYiTqVeHWQs84R6DSm8Irl4qcyi3KufSiO/s800/things-to-leave-behind-in-new-year-feature-image.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Feature image of fireworks." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIXiKD3t-1hOweaVNKGQ9tL67oo9CacGzJUeHZE5UG4SADz7Ts4XFLutpa8b20cKJzA-kZsCXlXx8mA3_hHnUKIdKQPxur30kAKx_2SKhqro7P0JXoONDeMBHW0vXixV74hBhX8u9p_OLPWnYlMqZ2jjiw4BTYiTqVeHWQs84R6DSm8Irl4qcyi3KufSiO/s16000/things-to-leave-behind-in-new-year-feature-image.jpg" /></a></div><p style="text-align: left;"><br /></p><p style="text-align: left;"></p><p class="MsoNormal" style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">Ready to start the new year on a fresh financial
note? You're not alone. No doubt 2023 was rough, and there are certain things
to leave behind in the new year. <o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">It's time to leave behind old financial habits
that no longer serve us and make room for better ones that will improve our
financial health. In this article, we will explore nine things that you should
leave behind in the new year to pave the way for a better financial future.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">Whether it's overspending, neglecting to save,
or failing to </span><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2021/09/how-expense-tracking-works.html" target="_blank"><span face=""Arial",sans-serif" style="color: #1155cc; mso-fareast-font-family: Arial;">track
your expenses</span></a></span><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">, it's time to bid these bad habits farewell.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"><br /></span></p><p style="text-align: left;"><span face=""Arial",sans-serif" lang="EN-US" style="line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Arial; mso-fareast-language: EN-ZA;">Read on to explore the
nine things to leave behind in the new year and embrace better <a href="https://www.eishstudentbudget.com/2023/01/finances-for-students-8-ways-to-manage.html" target="_blank">ways to manage our finances</a> for a brighter future.</span></p><p><span face=""Arial",sans-serif" lang="EN-US" style="line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Arial; mso-fareast-language: EN-ZA;"></span></p><h2><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrlOapU0O5DUakAirSXUNDIQ_20R6VYsyFe1rcCJmNyqQobMUWxXIgcCKzlf3vxMfwz6J46WVZQIc2EIr0lncJ6H1JcIgineJcbbtBLgO1rfo9qxqAXZN5f42cZIEgjNABKg5S2ZRAj9xIFRCc3N1WNWxacw-aiwz842kw5UXhuO9p9GO6XVMH_46doSTt/s800/things-to-leave-behind-in-the-new-year-celebrating-people.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: center;"><img alt="People cheering with glasses in the air." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrlOapU0O5DUakAirSXUNDIQ_20R6VYsyFe1rcCJmNyqQobMUWxXIgcCKzlf3vxMfwz6J46WVZQIc2EIr0lncJ6H1JcIgineJcbbtBLgO1rfo9qxqAXZN5f42cZIEgjNABKg5S2ZRAj9xIFRCc3N1WNWxacw-aiwz842kw5UXhuO9p9GO6XVMH_46doSTt/s16000/things-to-leave-behind-in-the-new-year-celebrating-people.jpg" /></a><span face=""Arial",sans-serif" lang="EN-US" style="font-weight: normal; mso-fareast-font-family: Arial;">Things to Leave Behind in the New Year</span></h2><div><span face=""Arial",sans-serif" lang="EN-US" style="font-weight: normal; mso-fareast-font-family: Arial;"><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US">By leaving behind these not-so-good financial practices and adopting healthier alternatives, you can set yourself
up for success in 2024. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US">We'll discuss practical tips and
strategies to help you make the necessary changes and achieve your financial
goals. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US">Let's get to it!<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"></span></p><h3><span lang="EN-US" style="font-weight: normal;">Not Assessing Your Financial Habits</span></h3><h3><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-TVF7BcUvD4RzspPB3iLmOhdXl1P7xe-m8v4230zzx0leX5XIPEHrV5kOs9TP9ICWZxV_ZN3A2jvX-cOdRCABy5MYvgEQrQbZlcAs0WNVCu6cdCYLJVclu7-qOVJi8qCkAEz0l2R8QkI6qE8rVxln-bq6vvU1VRV1tLfJPYN3hp8jPbLcHlbjjmYChXlS/s800/things-to-leave-behind-in-the-new-year-magnifying-glass.jpg" style="clear: left; float: left; font-weight: normal; margin-bottom: 1em; margin-right: 1em; text-align: center;"><img alt="Close up image of person holding magnifying glass to money." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-TVF7BcUvD4RzspPB3iLmOhdXl1P7xe-m8v4230zzx0leX5XIPEHrV5kOs9TP9ICWZxV_ZN3A2jvX-cOdRCABy5MYvgEQrQbZlcAs0WNVCu6cdCYLJVclu7-qOVJi8qCkAEz0l2R8QkI6qE8rVxln-bq6vvU1VRV1tLfJPYN3hp8jPbLcHlbjjmYChXlS/s16000/things-to-leave-behind-in-the-new-year-magnifying-glass.jpg" /></a></h3><div><div><br /></div>The first step in creating better
financial habits is to assess your current financial situation. Take a close
look at your income, expenses, and spending patterns. This will give you a
clear picture of where your money is going and help you identify areas for
improvement.</div><div><span lang="EN-US" style="font-weight: normal;"><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Start by tracking your expenses for
a month. Make a note of every purchase, whether it's a cup of coffee, some
snacks, or a new pair of shoes. You've got to track it. This will help you
identify any unnecessary spending and areas where you can cut back.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Next, review your budget. If you
don't have one, now is the time to create one. A budget will help you allocate
your income to different categories (i.e., food, travel, accommodation, etc)
and ensure that you're not overspending in any area. It will also help you
prioritize your financial goals and make informed decisions about your
spending.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Lastly, assess your saving habits.
Are you saving enough for emergencies, your retirement, or other long-term
goals? If not, it's time to make it a priority</span><span lang="EN-US"> and </span><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2022/11/httpswww.eishstudentbudget.com202211how-to-save-money-ways-to-save-money.html.html" target="_blank"><span style="color: #1155cc;">learn
how to save money</span></a></span><span lang="EN-US">. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">By taking the time to assess your
financial habits, you'll gain valuable insights into your current situation and
be better equipped to make positive changes. Don't underestimate the power of
this first step in improving your financial health 🤞.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><b><i><span lang="EN-US">Read more: </span></i></b><i><span lang="EN-US">Assessing your financial habits and
prioritizing your financial goals </span></i><i><span lang="EN-US">plays a huge role in </span></i><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2021/08/7-ways-to-practice-financial-self-care.html" target="_blank"><i><span style="color: #1155cc;">practicing</span></i></a><a href="https://www.eishstudentbudget.com/2021/08/7-ways-to-practice-financial-self-care.html"><i><span style="color: #1155cc;"> financial self-care</span></i></a></span><i><span lang="EN-US">. </span></i><span lang="EN-US"><o:p></o:p></span></p><h3 style="text-align: left;"><span lang="EN-US" style="font-weight: normal;">Impulsive Spending</span></h3><p style="text-align: left;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyhjBuKzGZ9LcOhn6uBFOAG9KvyfYS7LHFLImCfPPNaycsETmTRTUYFSNAcPMjJf3yG5TDtBBpMYsO07WfrG4CtmG1-kUVVR8yG1SIHu4DLyGqzr-Jmi2uNKO-6AuSKWUgmt5kTvFS-0D5gbf9m2ZhnL-n5jOUqI-7iMYLxOCNimG_cqa3Ju3lVUy0kmbN/s800/things-to-leave-behind-in-the-new-year-implusive-spending.jpg" style="clear: left; display: inline; float: left; font-weight: normal; margin-bottom: 1em; margin-right: 1em;"><img alt="Woman shopping on tablet with credit or debit card in hand." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyhjBuKzGZ9LcOhn6uBFOAG9KvyfYS7LHFLImCfPPNaycsETmTRTUYFSNAcPMjJf3yG5TDtBBpMYsO07WfrG4CtmG1-kUVVR8yG1SIHu4DLyGqzr-Jmi2uNKO-6AuSKWUgmt5kTvFS-0D5gbf9m2ZhnL-n5jOUqI-7iMYLxOCNimG_cqa3Ju3lVUy0kmbN/s16000/things-to-leave-behind-in-the-new-year-implusive-spending.jpg" /></a></p><div><span lang="EN-US" style="font-weight: normal;"><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">I know, I know. Who can resist that
row of snacks and sweets as you're waiting in a queue? But let's be real:
Impulsive spending can be a significant roadblock to achieving your financial
goals.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">It's easy to get caught up in the
desire for sweet, instant gratification or excitement of a sale. However,
giving in to these impulses (consistently, over a sustained period of time) can
have long-term consequences for your financial well-being.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">To break free from impulsive
spending, it may help to understand the underlying reasons behind it. Are you
trying to fill an emotional void with material possessions? Are you using
shopping to help relieve stress? Once you identify these triggers, you can find
healthier alternatives to satisfy your needs.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Personally, one effective strategy
I've found helpful is to implement a 24-hour rule. Before making any
non-essential purchase, I try to give myself 24 hours to think it over. This
"cooling-off period" allows me to evaluate whether I really "need"
to place that UberEATS or Checkers Sixty60 order or I'm just satisfying a
craving 🤷♀️.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Another helpful tip is to create a
list of your financial goals and refer to it whenever you feel the urge to
spend impulsively. Reminding yourself of the bigger picture can help you stay
focused on your priorities and resist the ensnaring trap of temptation.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Additionally, consider unsubscribing
from marketing emails and unfollowing social media influencers that promote
unnecessary spending. It may sound trivial, but these can largely influence our
spending habits. Replace these with practicing mindful consumption and adopting
a mindset of financial responsibility.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">
</span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">By letting go of impulsive spending,
you'll have more control over your finances. Plus, you'll be able to redirect
your resources towards achieving your long-term goals.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"></span></p><h3><span lang="EN-US" style="font-weight: normal;">Not Breaking Free From Credit Card Debt</span></h3><h3><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQxt6YXcO6TB973qj0QvnhoctwHdHellu7s3LCj2YoZ7qB4ukp5bkfp7zbhVQLs_AeJ5ahCRMyeDBSB-LwuLPwmrsvWPpv4a8ZlpHWRlZcRnrhGSeWyiD6CMSaYJwY8HOtaYvz48qbVyJH972l2h72FLUMyMgwi-pq49Z76vZjfWW3TUFmRh48neXeyviG/s800/things-to-leave-behind-in-the-new-year-credit-card-debt.jpg" style="clear: left; float: left; font-weight: normal; margin-bottom: 1em; margin-right: 1em; text-align: center;"><img alt="Close up image of a gold credit card." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQxt6YXcO6TB973qj0QvnhoctwHdHellu7s3LCj2YoZ7qB4ukp5bkfp7zbhVQLs_AeJ5ahCRMyeDBSB-LwuLPwmrsvWPpv4a8ZlpHWRlZcRnrhGSeWyiD6CMSaYJwY8HOtaYvz48qbVyJH972l2h72FLUMyMgwi-pq49Z76vZjfWW3TUFmRh48neXeyviG/s16000/things-to-leave-behind-in-the-new-year-credit-card-debt.jpg" /></a></h3><div><br /><span lang="EN-US" style="font-weight: normal;"><br /></span></div><div><span lang="EN-US" style="font-weight: normal;"><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Whether you're a university student
or a young professional, credit card debt can be a significant burden on your
financial well-being. Often, people find the high interest rates and fees associated
with credit cards can quickly spiral out of control if left unchecked. <o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">To regain control of your finances,
it's crucial to break free from credit card debt.<o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Thankfully, you can avoid (or mitigate) this by
assessing your credit card balances and interest rates. Make a list of your
debts, including the outstanding balance, interest rate, and minimum payment
due. This will give you a clear picture of the mountain you need to climb and
may make your ascent easier.<o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Next up, create a debt repayment
plan. There are two popular strategies you can implement to tackle credit card
debt: the snowball method and the avalanche method. <o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">With the snowball method, you focus
on paying off the smallest balance first, while with the avalanche method, you
tackle the debt with the highest interest rate first.<o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Choose the strategy that aligns with
your financial goals and motivates you to take action. I personally prefer the
snowball method. It's easier to do as you feel motivated when knocking out the
smaller debts first. <o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Whichever method you choose, it
helps to allocate as much money as possible towards your credit card payments
(within reason). Consider cutting back on discretionary expenses or finding
ways to increase your income to accelerate your debt repayment.<o:p></o:p></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Breaking free from credit card debt
requires discipline and commitment, but the freedom and peace of mind that come
with being debt-free? It's oh-so worth it. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><b><i><span lang="EN-US">Important Tip: </span></i></b><i><span lang="EN-US">It's </span></i><i><span lang="EN-US">crucial to try to avoid accumulating more credit card debt while you're
paying off existing balances.<o:p></o:p></span></i></p><h3><span lang="EN-US" style="font-weight: normal;">Not Saying Goodbye to Unnecessary Subscriptions</span></h3></span></div></span></div></span></div></span></div>
<div style="width: 100%;"><div style="height: 0px; padding-bottom: 56.25%; position: relative; width: 100%;"><iframe allowfullscreen="" frameborder="0" height="100%" src="https://giphy.com/embed/m7Q5L14Z3ZEpu7mvoo/video" style="left: 0; position: absolute; top: 0;" width="100%"></iframe></div><a href="https://giphy.com/channel/BlownAway" rel="noopener noreferrer" style="clear: both; display: inline-block; height: 36px; line-height: 18px; margin: 10px 0px; padding: 0px 0px 0px 44px; position: relative;" target="_blank"><img alt="" src="https://media4.giphy.com/avatars/BlownAway/jebEfNyegMLg/80h.jpg" style="height: 36px; left: 0px; position: absolute; top: 0px; width: 36px;" /><div style="font-size: 16px; font-weight: bold;">Blown Away</div><div style="font-size: 14px; font-weight: normal;">@BlownAway</div></a><p style="margin-top: 6px;"><strong>Bye</strong><br />Blown Away Clips</p><p style="margin-top: 6px;"><br /></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Subscription services have become a
ubiquitous part of our lives. From streaming platforms like Netflix to meal
delivery services, it's easy to end up with a long list of monthly subscriptions
without even realizing it. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">That said, these seemingly small
expenses can add up. Before you know it, they can drain your bank account without you even noticing.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">So, how do we solve this? I think it helps to set time aside for some reviewing. Go over all your subscriptions and evaluate their value. Do you use them regularly? Do they align with your financial goals and priorities? If not,
it may be time to say goodbye👋.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Canceling unnecessary subscriptions
can free up some much-needed money in your budget. Plus, you can redirect these funds toward
your emergency savings or debt repayment goals.</span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Don't want to say goodbye
entirely? <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Consider alternatives such as free
or lower-cost entertainment options. Or arrange for your friend group to pay for family subscription plans.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">To prevent future subscriptions from creeping up on you, be sure to be intentional. This can be as simple as noting down renewal dates in your calendar app. On the other hand, you could use budgeting apps that track
your subscriptions. It pays to know how much of your income goes towards subscriptions.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p style="margin-top: 6px;">
</p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Saying goodbye 🙋♀️to
unnecessary subscriptions can help you save money <i>and </i>regain control
over your finances.</span></p><h3><span face=""Arial",sans-serif" lang="EN-US" style="font-weight: normal; mso-fareast-font-family: Arial;">Keeping Up With the Joneses (or the Abantu Bazothini
Syndrome)</span></h3></div>
<div style="height: 0px; padding-bottom: 56%; position: relative; width: 100%;"><iframe allowfullscreen="" class="giphy-embed" frameborder="0" height="100%" src="https://giphy.com/embed/vKfAoAX2NGRRBu7Zvr" style="position: absolute;" width="100%"></iframe></div><p><a href="https://giphy.com/gifs/owntv-own-oprah-winfrey-network-belle-collective-vKfAoAX2NGRRBu7Zvr">via GIPHY</a></p><p><br /></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">The pressure to "keep up with
the Joneses" or worrying about what others will think/say (i.e., </span><span lang="EN-US"><a href="https://www.urbandictionary.com/define.php?term=Abantu%20bazothini" rel="nofollow" target="_blank"><i><span face=""Arial",sans-serif" style="color: #1155cc; mso-fareast-font-family: Arial;">abantu bazothini</span></i></a></span><span face="Arial, sans-serif" lang="EN-US">) can lead to a never-ending cycle of comparison and unnecessary
spending.</span><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"> Comparison, as they say, is the thief of joy (and your money!). Plus, trying to match
someone else's lifestyle or possessions can wreak financial havoc in your life.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">I know we say it all the time in the personal finance space, but it's true — everyone's financial situation is unique, and appearances can be deceiving.
Instead of comparing yourself to others, why not practice financial self-care and focus
on your own financial dreams?</span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">I've found that taking stock of the
things that bring me joy and fulfillment makes me happy. I'm also trying to
spend more on experiences and relationships rather than material possessions.
Ultimately, <i>true wealth</i> comes from financial freedom and peace of mind. It
doesn't come from owning the latest gadgets or [insert whatever your spending
vice is </span><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">😝].<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Personally, surrounding myself with
like-minded individuals who share my values and respect my financial journey
has yielded positive outcomes. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Abandoning the "keeping up with
the Joneses" mentality and the "Abantu Bazothini syndrome" may
take time and effort on your part, but it's essential for your financial
well-being. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Embrace your <i>own</i> path and celebrate your financial achievements, no matter how
small they may seem to outsiders.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p>
</p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><i><b><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">Read more:
</span></b><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">Taking stock of </span><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2021/04/urgent-vs-important-personal-finance.html"><span face=""Arial",sans-serif" style="color: #1155cc; mso-fareast-font-family: Arial;">what’s
important to you financially</span></a></span><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"> is key to
not keeping up with others or being overly concerned about what they’ll think
and say about your financial situation.<o:p></o:p></span></i></p><h3><span face=""Arial",sans-serif" lang="EN-US" style="font-weight: normal; mso-fareast-font-family: Arial;">Being Fearful of Budgeting</span></h3><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><i><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"></span></i></p><h3 dir="rtl" style="text-align: right;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyZ17rxj0Lq337bNxQ3eKGYsLCHDLbAHZQouzKNcDZ6GOh5kIPZ_ATyDMQ9xyzi3NAMQkXiB1QohsXCLetpQSG4wJPkwe4CRVfqxeXhbXn1UuUKLbcXLCtUDYOHSoUeBrhPhaQ_RfVDlR88Rn2NG-rp-XYuWRsGhdozC4Gf9rXIWDNOfoTIOlIvqI2LlMN/s800/things-to-leave-behind-in-the-new-year-budgeting.jpg" style="clear: left; display: inline; float: left; margin-bottom: 1em; margin-right: 1em; text-align: center;"><img alt="Lady working out budget with laptop, cash, and paper." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyZ17rxj0Lq337bNxQ3eKGYsLCHDLbAHZQouzKNcDZ6GOh5kIPZ_ATyDMQ9xyzi3NAMQkXiB1QohsXCLetpQSG4wJPkwe4CRVfqxeXhbXn1UuUKLbcXLCtUDYOHSoUeBrhPhaQ_RfVDlR88Rn2NG-rp-XYuWRsGhdozC4Gf9rXIWDNOfoTIOlIvqI2LlMN/s16000/things-to-leave-behind-in-the-new-year-budgeting.jpg" /></a><br /></h3><div><span face=""Arial",sans-serif" lang="EN-US" style="font-weight: normal; mso-fareast-font-family: Arial;"><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p><p class="MsoNormal" style="text-align: left;">Oh, boy. We know how people feel when it comes
to budgeting. It's often seen as restrictive and overwhelming, leading many to
avoid it altogether. However, budgeting is a powerful tool that can help you
take control of your finances and get closer to achieving your financial goals.</p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">To leave behind the fear of
budgeting, start by reframing your mindset. Instead of thinking of a budget as
a restriction, view it as a tool that equips you to make informed financial
decisions.</span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Look at tracking your spending to
see where your money is going. Then, create a budget that aligns with your
financial goals. I've got a post on </span><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2020/04/budgeting-for-beginners.html" target="_blank"><span style="color: #1155cc;">budgeting
for beginners</span></a></span><span lang="EN-US"> that's super helpful. Remember to
be realistic and flexible with your budget — it's not a prison sentence. You're
more than welcome to adjust it as needed to accommodate unexpected expenses or
changes in your income.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">Lastly, remember that budgeting is
not a one-time exercise. It requires regular review and adjustments to ensure
it remains effective and relevant. Schedule monthly or quarterly budget
check-ins to evaluate your progress and make any necessary changes.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US">By leaving behind the fear of
budgeting, you'll gain control over your finances and be able to make
intentional choices that align with your financial goals. Embrace budgeting as
a tool for financial empowerment and watch your financial health improve.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><span lang="EN-US"><br /></span></p>
<p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt; text-align: left;"><b><i><span lang="EN-US">Discover more:</span></i></b><i><span lang="EN-US"> Get your <a href="https://eishstudentbudget.gumroad.com/l/simplebudgettemplate" rel="nofollow" target="_blank">free simple budget template</a> to help you get started. A gift from me to you 🤗.</span></i><span lang="EN-US"><o:p></o:p></span></p><h3><span lang="EN-US" style="font-weight: normal;">Unhealthy Financial Relationships</span></h3></span></div>
<div style="width: 100%;"><div style="height: 0px; padding-bottom: 56.25%; position: relative; width: 100%;"><iframe allowfullscreen="" frameborder="0" height="100%" src="https://giphy.com/embed/614s5bxbmFPFgK9dDU/video" style="left: 0; position: absolute; top: 0;" width="100%"></iframe></div><a href="https://giphy.com/channel/rickandmorty" rel="noopener noreferrer" style="clear: both; display: inline-block; height: 36px; line-height: 18px; margin: 10px 0px; padding: 0px 0px 0px 44px; position: relative;" target="_blank"><img alt="" src="https://media3.giphy.com/avatars/rickandmorty/O2bBTAZhbxI0/80h.png" style="height: 36px; left: 0px; position: absolute; top: 0px; width: 36px;" /><div style="font-size: 16px; font-weight: bold;">Rick and Morty</div><div style="font-size: 14px; font-weight: normal;">@rickandmorty</div></a><p style="margin-top: 6px;"><strong>Don't Ask me For Money</strong><br /></p><p style="margin-top: 6px;"><strong><br /></strong></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Unhealthy financial relationships
can hinder your progress toward financial success. Whether it's a toxic
partnership, family members who always ask for (or <i>demand</i>) money, or friends who encourage reckless spending, it may
be time to re-evaluate these detrimental influences.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">In your personal life, you may need
to assess personal and professional relationships that have a negative impact
on your financial well-being. This could include a partner who is financially
irresponsible, a family member who constantly asks for money, or friends who
pressure you to spend beyond your means.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">While severing ties (</span><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;">perhaps creating some <i>distance</i>?) with
unhealthy financial relationships can be challenging, it's essential for your
financial growth and well-being. Set boundaries and try to have open and honest
(yet kind) conversations with the individuals involved. <o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face=""Arial",sans-serif" lang="EN-US" style="mso-fareast-font-family: Arial;"><br /></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Let them know where you stand, what
you require from them (i.e., respecting your financial choices), and what you'd
like moving forward. Be willing to hear their point of view, too.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"><br /></span></p><p style="margin-top: 6px;">
</p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US">Depending on your situation, you may
need to seek professional help or guidance from a financial advisor or a
licensed therapist. They can provide support and guidance during this process.<o:p></o:p></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span face="Arial, sans-serif" lang="EN-US"></span></p><h3><span face=""Arial",sans-serif" lang="EN-US" style="font-weight: normal; mso-fareast-font-family: Arial;">Not Embracing a Mindset of Financial Empowerment</span></h3></div>
<div style="width: 100%;"><div style="height: 0px; padding-bottom: 56.25%; position: relative; width: 100%;"><iframe allowfullscreen="" frameborder="0" height="100%" src="https://giphy.com/embed/DyZ4Aan1esEmDQzYgF/video" style="left: 0; position: absolute; top: 0;" width="100%"></iframe></div><a href="https://giphy.com/channel/therokuchannel" rel="noopener noreferrer" style="clear: both; display: inline-block; height: 36px; line-height: 18px; margin: 10px 0px; padding: 0px 0px 0px 44px; position: relative;" target="_blank"><img alt="" src="https://media4.giphy.com/avatars/therokuchannel/PVu2oTy4O27d/80h.png" style="height: 36px; left: 0px; position: absolute; top: 0px; width: 36px;" /><div style="font-size: 16px; font-weight: bold;">The Roku Channel</div><div style="font-size: 14px; font-weight: normal;">@therokuchannel</div></a><p style="margin-top: 6px;"><strong>Victim To Victor</strong><br /></p><p style="margin-top: 6px;"><strong><br /></strong></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span style="font-family: inherit;"><span lang="EN-US">To truly embrace better financial
habits in the new year, it's crucial to adopt a mindset of financial
empowerment. This mindset involves taking ownership of your financial
decisions, building confidence in </span><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2023/01/finances-for-students-8-ways-to-manage.html" target="_blank"><span style="color: #1155cc;">your
ability to manage money</span></a></span><span lang="EN-US">, and seeking
knowledge and education to improve your financial literacy.<o:p></o:p></span></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span style="font-family: inherit;"><span lang="EN-US"><br /></span></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"><span style="font-family: inherit;">Start by educating yourself about
personal finance. Read books, listen to podcasts, and follow reputable
financial experts who can provide you with valuable insights and guidance. The
more you know about personal finance, the better equipped you'll be to make
informed decisions.<o:p></o:p></span></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"><span style="font-family: inherit;"><br /></span></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span style="font-family: inherit;"><span lang="EN-US">Next, set clear financial goals and
create a plan to achieve them. Whether it's saving for a car deposit, paying
off a store card, or </span><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2020/08/emergency-funds-basics.html" target="_blank"><span style="color: #1155cc;">building
an emergency fund</span></a></span><span lang="EN-US">, having specific goals will help
give you direction and motivation.<o:p></o:p></span></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span style="font-family: inherit;"><span lang="EN-US"><br /></span></span></p><p class="MsoNormal" style="border: none; mso-border-shadow: yes; mso-padding-alt: 31.0pt 31.0pt 31.0pt 31.0pt;"><span lang="EN-US"><span style="font-family: inherit;">Oh, and don't forget to celebrate
your financial wins, no matter how small they may be. This could be paying off
a credit card, sticking to your budget for a month, or negotiating a lower
interest rate on a loan. Recognizing your progress and using it as motivation
can help you keep moving forward.</span><span face="Arial, sans-serif"><o:p></o:p></span></span></p><p style="margin-top: 6px;">
</p><h2><span style="font-family: inherit;"><a name="_yf6udd1y7a95"></a></span><span lang="EN-US" style="font-weight: normal;"><span style="font-family: inherit;">Frequently Asked Questions
About Financial Things to Leave Behind in the New Year</span><span face="Arial, sans-serif"><o:p></o:p></span></span></h2><p style="text-align: left;"><span lang="EN-US" style="font-weight: normal;"><span style="font-family: inherit;">Got more questions? No worries. Here are some
typically asked questions, and answers, people have.</span></span></p><div><span lang="EN-US" style="font-weight: normal;"><h3 style="text-align: left;"><span lang="EN-US" style="font-weight: normal;"><span style="font-family: inherit;">How Do You Plan a New Year Financially?<o:p></o:p></span></span></h3>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">You can do several things to make 2024 a better
financial year:<o:p></o:p></span></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><span style="font-family: inherit;"><br /></span></span></p>
<p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><!--[if !supportLists]--><span style="font-family: inherit;"><span lang="EN-US">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US">Go over your budget (or create one!)<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><!--[if !supportLists]--><span style="font-family: inherit;"><span lang="EN-US">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US">Build an emergency fund<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><!--[if !supportLists]--><span style="font-family: inherit;"><span lang="EN-US">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US">Pay off debt</span></span></p><p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><span style="font-family: inherit;"><span lang="EN-US" style="text-indent: -18pt;">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><span lang="EN-US" style="text-indent: -18pt;">Create and work towards your financial goals</span></span></p>
<h3 style="text-align: left;"><span style="font-family: inherit;"><a name="_ardglffo3tj0"></a></span><span lang="EN-US" style="font-weight: normal;"><span style="font-family: inherit;">What's the 50-20-30 Rule?</span><span face="Arial, sans-serif"><o:p></o:p></span></span></h3>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">The 50-20-30 rule is how one manages their
budget spending. It entails putting 20% of your money toward savings, 30%
toward your wants, and 50% toward your needs.</span><span face="Arial, sans-serif"><o:p></o:p></span></span></p>
<h3 style="text-align: left;"><span lang="EN-US" style="font-weight: normal;"><span style="font-family: inherit;">How Can I Save Money for the New Year?<o:p></o:p></span></span></h3>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">You can make it a goal (or your New Year’s
resolution) to:<o:p></o:p></span></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><span style="font-family: inherit;"><br /></span></span></p>
<p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><!--[if !supportLists]--><span style="font-family: inherit;"><span lang="EN-US">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US">Tackle your debt<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><!--[if !supportLists]--><span style="font-family: inherit;"><span lang="EN-US">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US">Find ways to cut down on spending</span></span></p><p class="MsoNormal" style="margin: 0cm 0cm 0cm 18pt; text-align: left; text-indent: -18pt;"><span style="font-family: inherit;"><span lang="EN-US" style="text-indent: -18pt;">●<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size: 7pt; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">
</span></span><span lang="EN-US" style="text-indent: -18pt;">Save more money</span></span></p>
<h3 style="text-align: left;"><span style="font-family: inherit;"><a name="_kfo7lpgzt3rp"></a><span lang="EN-US" style="font-weight: normal;">How Do You Create a Budget?<o:p></o:p></span></span></h3>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">First, identify your income. Then, track your
spending to see where your money’s going. You can then come up with financial
goals you’d like to achieve. After that, create a budget based on your
financial goals, and be sure to manage your spending. Lastly, review your
budget each month to assess if you’ve stuck to your budget.</span><span face="Arial, sans-serif"><o:p></o:p></span></span></p>
<h2 style="text-align: left;"><span lang="EN-US" style="font-weight: normal;"><span style="font-family: inherit;">Conclusion: Financial Things to Leave Behind in the
New Year<o:p></o:p></span></span></h2>
<p class="MsoNormal" style="border: none; text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">As we bid farewell to the old year
and welcome the new one, it's time to leave behind the financial habits that
hold us back and embrace better ones that will improve our financial health. <o:p></o:p></span></span></p><p class="MsoNormal" style="border: none; text-align: left;"><span lang="EN-US"><span style="font-family: inherit;"><br /></span></span></p>
<p class="MsoNormal" style="border: none; text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">By assessing our financial habits,
letting go of impulsive spending, and saying goodbye to the "abantu
bazothini" mentality, we can set ourselves up for success in the coming
year.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="border: none; text-align: left;"><span lang="EN-US"><span style="font-family: inherit;"><br /></span></span></p><p class="MsoNormal" style="border: none; text-align: left;"><span lang="EN-US"><span style="font-family: inherit;">Here's to better financial habits
and a prosperous new year!<o:p></o:p></span></span></p>
<p class="MsoNormal" style="border: none; text-align: left;"><span style="font-family: inherit;"><b><i><span lang="EN-US"><br /></span></i></b></span></p><p class="MsoNormal" style="border: none; text-align: left;"><span style="font-family: inherit;"><b><i><span lang="EN-US">Read more: </span></i></b><i><span lang="EN-US">Keen on making managing your credit better in 2024? Discover more about </span></i><span lang="EN-US"><a href="https://www.eishstudentbudget.com/2021/01/lets-talk-about-debt-baby-credit.html" target="_blank"><i><span style="color: #1155cc;">credit utilization ratios</span></i></a></span><i><span lang="EN-US">.</span></i></span></p>
<h2 style="text-align: left;"><i><span style="font-family: inherit;"><a name="_xb012d9h6o26"></a><span lang="EN-US" style="font-weight: normal;">Disclaimer:<o:p></o:p></span></span></i></h2>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><i><span style="font-family: inherit;">This blog post is for informational purposes
only and does not constitute financial advice. <o:p></o:p></span></i></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><i><span style="font-family: inherit;"><br /></span></i></span></p>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><i><span style="font-family: inherit;">The information presented herein is not a
substitute for and should never be relied upon for professional financial
advice.<o:p></o:p></span></i></span></p><p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><i><span style="font-family: inherit;"><br /></span></i></span></p>
<p class="MsoNormal" style="text-align: left;"><i><span style="font-family: inherit;"><span lang="EN-US">Always talk to your financial advisor about the
risks and benefits of any financial information shared. If you are looking for
financial advice, kindly speak to somebody who is certified and registered with
the </span><span lang="EN-US"><a href="https://www.fsca.co.za/Pages/Default.aspx" rel="nofollow" target="_blank"><span style="color: #1155cc;">Financial
Sector Conduct Authority (FSCA)</span></a></span><span lang="EN-US">.<o:p></o:p></span></span></i></p><p class="MsoNormal" style="text-align: left;"><i><span style="font-family: inherit;"><span lang="EN-US"><br /></span></span></i></p>
<p class="MsoNormal" style="text-align: left;"><span lang="EN-US"><i><span style="font-family: inherit;">eishstudentbudget™ and its owner(s) are not
liable for any loss, harm, or damage you may incur as a result of you using the
information presented here.</span><span face="Arial, sans-serif"><o:p></o:p></span></i></span></p><p class="MsoNormal" style="font-family: Arial, sans-serif; text-align: left;"></p><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgWLs2Jw-S-piRnwdGC6kcIYyqFYKHMr1hEea7PLZMqDgd9gd0DW20-cDAtHfsJhZujSfM13r0qmaWkrTHont4KCbWI3pWibOALOUmbcUgaM_BpdqikqPqTyE9Vfzu_OfsaNSfhmzkL2fjjlgJ-MxdyOHuDSvt-wCrLSJBGD3A8L0IQ8-Ody332nd6Zp08/s1200/eishstudentbudget%20Plutus%20Awards%20Showcase%20showcase-featured-bw2.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="eishstudentbudget™ has featured on the Plutus Awards Showcase. It celebrates excellence in financial media." border="0" data-original-height="742" data-original-width="1200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgWLs2Jw-S-piRnwdGC6kcIYyqFYKHMr1hEea7PLZMqDgd9gd0DW20-cDAtHfsJhZujSfM13r0qmaWkrTHont4KCbWI3pWibOALOUmbcUgaM_BpdqikqPqTyE9Vfzu_OfsaNSfhmzkL2fjjlgJ-MxdyOHuDSvt-wCrLSJBGD3A8L0IQ8-Ody332nd6Zp08/s16000/eishstudentbudget%20Plutus%20Awards%20Showcase%20showcase-featured-bw2.jpg" /></a></div><br /><span lang="EN-US"><br /></span><p style="text-align: left;"></p></span></div></div>
eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-13458622366300545742023-01-30T10:29:00.011+02:002023-11-08T20:58:41.214+02:00Finances for Students | 8 Ways to Manage Your Money<p> </p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh-A7QjVQOZlLh9RXSekTiX9B4IoMr-l57hoiXKWM7XB0_9IX7-DUBHlWgjQ7YSnGcAIWgtbfCDqI3d_2VIXJS4dl8_fFKfl6blIc7HT0mYz3E-6e8IxIIG8xSe2_K9Z4MVXuXjKQ5cXML5wXv-Wdqa4fCg6TGN_EvJqplNJC9dF1P-PVIpXffZ44X-qw" style="margin-left: auto; margin-right: auto;"><img data-original-height="610" data-original-width="975" src="https://blogger.googleusercontent.com/img/a/AVvXsEh-A7QjVQOZlLh9RXSekTiX9B4IoMr-l57hoiXKWM7XB0_9IX7-DUBHlWgjQ7YSnGcAIWgtbfCDqI3d_2VIXJS4dl8_fFKfl6blIc7HT0mYz3E-6e8IxIIG8xSe2_K9Z4MVXuXjKQ5cXML5wXv-Wdqa4fCg6TGN_EvJqplNJC9dF1P-PVIpXffZ44X-qw=s16000" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><br /></td></tr></tbody></table>College can be
one of the most expensive (yet fun) times in your life. From tuition fees to
accommodation and meals, textbooks, and everything in between, it’s important
to ensure you manage your student finances wisely.<div><br /><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">As cliché as
it may sound, properly managing your money is an act of <a href="https://www.eishstudentbudget.com/2021/12/5-ways-to-practice-financial-self-care.html" target="_blank"><span style="color: #1155cc;">financial self-care</span></a>. It may not sound (or <i>feel</i>) like it at first, but <a href="https://www.eishstudentbudget.com/2018/08/thankfultuesdays-3-money-truths-i-am.html" target="_blank"><span style="color: #1155cc;">you’ll thank yourself</span></a> later on. If you’re
worrying about how to handle your finances in uni or would like to discover
more tips, I’ve got you covered.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">I’ve been
there and understand the importance of managing your money well, so here are
eight tips that can help you make the most out of your student budget!<o:p></o:p></span></p><h2><span lang="EN-GB">1. Make and Stick to a Budget</span></h2><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh2SR2DI0ewLMarW3YAB1nVgyqLZZMhyi7mS9_ZPWyeW-iXZ6jQcZqaTtZtuPBYRI9Na6xLQBJ07HdcIe2zJikrh2runwpU85860gE5K2a2MApFeP00ShvRBJMlxnrrGLxj6fPh28iojKrk36hQmSciJjHtFDCKdFugcE5Llpi-peGOJ2SkO4LEFbycew" style="margin-left: auto; margin-right: auto;"><img alt="" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/a/AVvXsEh2SR2DI0ewLMarW3YAB1nVgyqLZZMhyi7mS9_ZPWyeW-iXZ6jQcZqaTtZtuPBYRI9Na6xLQBJ07HdcIe2zJikrh2runwpU85860gE5K2a2MApFeP00ShvRBJMlxnrrGLxj6fPh28iojKrk36hQmSciJjHtFDCKdFugcE5Llpi-peGOJ2SkO4LEFbycew=s16000" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/crop-anonymous-financier-planning-budget-writing-numbers-in-notebook-4386339/" style="text-align: left;"><span style="color: #1155cc;">Karolina Grabowska</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">“Students” and
“managing money” don’t sound like they belong in the same sentence, especially
if you’re unfamiliar with money management for students (or have witnessed
fellow students <i>blow money</i> — no
shade). This is why having a solid budget in place is essential. <o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">Create and
follow a <a href="https://www.eishstudentbudget.com/2020/04/budgeting-for-beginners.html" target="_blank"><span style="color: #1155cc;">basic budget</span></a> that’ll estimate how much you’ll
need each month for tuition, rent, books, food, and other living expenses. Then
set a spending limit for each of these categories.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">Make sure to
track your spending to ensure that you stay within your allowance. That way,
you can save money and possibly avoid going into debt.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">You won’t
always stick to your budget, so don’t beat yourself up if you don’t. But it
helps to aim for consistency in sticking to your budget for the long term.<o:p></o:p></span></p><h2 style="margin-bottom: 10pt;"><a name="_qkw2viie1y8i"></a><span lang="EN-GB">2.
Track Your Spending<o:p></o:p></span></h2><p class="MsoNormal"></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgTNFPO47ObCRc1Sqk_4cvWzUKQtxu_ted-yccQ3srNhTHlUGc2TIDZ-XgpSEMTD1gj8FSIFjSDEBqbql5Z12IGfyLl6oVlKkdWB8xVoNByX58fOqUKbAdFFhQ3M6vacZMLvZwCnRM_3ntbU1dUqoNUWb-8n0VCWsrGhriutEcmxCyY4ksYijizzJnN6A" style="margin-left: auto; margin-right: auto;"><img alt="" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/a/AVvXsEgTNFPO47ObCRc1Sqk_4cvWzUKQtxu_ted-yccQ3srNhTHlUGc2TIDZ-XgpSEMTD1gj8FSIFjSDEBqbql5Z12IGfyLl6oVlKkdWB8xVoNByX58fOqUKbAdFFhQ3M6vacZMLvZwCnRM_3ntbU1dUqoNUWb-8n0VCWsrGhriutEcmxCyY4ksYijizzJnN6A=s16000" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/sticky-notes-and-plastic-numbers-on-table-7111517/" rel="nofollow" style="text-align: left;" target="_blank"><span style="color: #1155cc;">Tara Winstead</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table><p></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB"><a href="https://www.eishstudentbudget.com/2021/09/how-expense-tracking-works.html" target="_blank"><span style="color: #1155cc;">Keeping track of your expenses</span></a> is an important
part of managing your personal finances. With the help of online tools and
apps, it's now easier than ever to stay on top of your finances. These apps and
tools can help you track your spending, set budgets, monitor income and
expenses, and get reminders when bills are due. Some even help you track your
net worth. Pretty cool, huh?<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">Budgeting
apps, in particular, can be a great way for students to manage money while
ensuring enough is left over for fun activities. There are many free
money-tracking apps available that offer features such as organising your
expenses into different categories, setting up budget goals, and tracking your
progress toward those goals. <o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">By using these
apps to keep track of your spending habits, you can make sure you're learning
how to manage money while still having enough left over for the things you
enjoy most.<o:p></o:p></span></p><h2 style="margin-bottom: 0cm;"><a name="_uwiumqnf1z4f"></a><span lang="EN-GB">3.
Create an Emergency Fund<o:p></o:p></span></h2><p class="MsoNormal"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEg8wTU9I1Uncnu-DxOGTHyUv9FFfcg7dIDfM0ugL9iuqaavClz_1Q0rFZcl78jXA2kEKE0cRAQ_yZ4UH1MTbJAzSeafyz3DmD_UNrJzw9vS3SJ21nhg57CyT0iR8NaBqFvWAU6SIgApqWrGk3P0gcbKn-Vxe_nI1aQc0SG-tJMr6XEEYw84586xxPh52Q" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="500" data-original-width="800" height="1" src="https://blogger.googleusercontent.com/img/a/AVvXsEg8wTU9I1Uncnu-DxOGTHyUv9FFfcg7dIDfM0ugL9iuqaavClz_1Q0rFZcl78jXA2kEKE0cRAQ_yZ4UH1MTbJAzSeafyz3DmD_UNrJzw9vS3SJ21nhg57CyT0iR8NaBqFvWAU6SIgApqWrGk3P0gcbKn-Vxe_nI1aQc0SG-tJMr6XEEYw84586xxPh52Q" width="1" /></a></div><p></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIHOCxGblhC_cJVNZcXUObHRMrCgmLzSaMKXjKb5A45FMbe7zYul2mmCxgTtyyo2Ko34ADBSZhkmeBDa_kH8n9LPqdabCiVc6eUfwkHaOZeAq6VpbZxhlpNJwKR0nwKxy7CoA9sy2wVh1QZpxCff_uUZAzkd6aoOV8YE1hsE5bvNVxgF6zyKraC759Zw/s800/student-finances-emergency-fund.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIHOCxGblhC_cJVNZcXUObHRMrCgmLzSaMKXjKb5A45FMbe7zYul2mmCxgTtyyo2Ko34ADBSZhkmeBDa_kH8n9LPqdabCiVc6eUfwkHaOZeAq6VpbZxhlpNJwKR0nwKxy7CoA9sy2wVh1QZpxCff_uUZAzkd6aoOV8YE1hsE5bvNVxgF6zyKraC759Zw/s16000/student-finances-emergency-fund.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/person-putting-coin-in-a-piggy-bank-1602726/" rel="nofollow" style="text-align: left;" target="_blank"><span style="color: #1155cc;">maitree rimthong</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">One of the
most important tips for managing your finances is to create an <a href="https://www.eishstudentbudget.com/2020/08/emergency-funds-basics.html" target="_blank"><span style="color: #1155cc;">emergency fund</span></a>. This is vital because you may
find yourself in a situation that you didn’t prepare for, such as unexpected
medical bills and car repairs.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">Setting up an
emergency fund can help you cover these costs without having to worry about
taking out additional loans or using credit cards that may have high-interest
rates. Experts typically recommend having three to six months of your expenses
saved in an easily accessible account.<o:p></o:p></span></p><h2 style="margin-bottom: 10pt;"><a name="_3v58r81o9agq"></a><span lang="EN-GB">4.
Find Ways to Make Extra Money<o:p></o:p></span></h2><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinvs8epDYxV57dIEl8YPcnihNvzEvrArlrOCDCNLOPxJRfYt_EcrfsnsL8FsFT1GoXjsY6wLAG84P0N978TXdLx-ml7yoc-VdvwiaZyzrbIdBbzIJNe4S2jMCt5D-8IZ8JgeAK8NJ4hgQxJ5Q5NsE0CH0mxZDhXNTWtR0ycP4PL8bjT1h3TRt7w0hhWg/s800/student-finances-side-hustle.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinvs8epDYxV57dIEl8YPcnihNvzEvrArlrOCDCNLOPxJRfYt_EcrfsnsL8FsFT1GoXjsY6wLAG84P0N978TXdLx-ml7yoc-VdvwiaZyzrbIdBbzIJNe4S2jMCt5D-8IZ8JgeAK8NJ4hgQxJ5Q5NsE0CH0mxZDhXNTWtR0ycP4PL8bjT1h3TRt7w0hhWg/s16000/student-finances-side-hustle.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/woman-wearing-tank-top-sitting-by-the-window-920381/" rel="nofollow" style="text-align: left;" target="_blank"><span style="color: #1155cc;">Andrea Piacquadio</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table>College students often struggle to make
ends meet, and finding ways to generate additional income and save money is a
major challenge. Fortunately, there are many part-time job opportunities
available for you that can help you make the most of your college experience.<p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">From online freelancing gigs to on-campus
jobs, there are plenty of options for you to <a href="https://www.eishstudentbudget.com/2021/11/4-ways-to-make-extra-money-as-student.html" target="_blank"><span style="color: #1155cc;">make extra money</span></a> while also balancing your
studies. With careful time management, budgeting, and smart spending, you can
use these job opportunities to not only supplement your income but also save
money for your future.<o:p></o:p></span></p><h2><span lang="EN-GB">5. Take Advantage of Financial Resources for Students<o:p></o:p></span></h2><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvDvmvEd-BoKx5B7e0qqJm8ZwolhIllzHUTqzRVyI6zu4cqGIMfsKy2lXAiv_aA_4YdkAkSARoEJYjW7ZdbtPydlB-eaSwpCmeb1L1vqnrY0-LM88HD8f0UsaXGYf9Orwk1CsUCtiWerRgK3Tavo9A9Hflk6enDCeLLnz9HWhhrCCc3TEJzh-4lHdm-Q/s1000/scholarship-application-form-foundation-concept.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="667" data-original-width="1000" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvDvmvEd-BoKx5B7e0qqJm8ZwolhIllzHUTqzRVyI6zu4cqGIMfsKy2lXAiv_aA_4YdkAkSARoEJYjW7ZdbtPydlB-eaSwpCmeb1L1vqnrY0-LM88HD8f0UsaXGYf9Orwk1CsUCtiWerRgK3Tavo9A9Hflk6enDCeLLnz9HWhhrCCc3TEJzh-4lHdm-Q/s16000/scholarship-application-form-foundation-concept.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.freepik.com/free-photo/scholarship-application-form-foundation-concept_16459707.htm#query=bursary&position=7&from_view=search&track=sph" rel="nofollow" style="text-align: left;" target="_blank"><span style="color: #1155cc;">rawpixel.com</span></a><span style="text-align: left;"> on Freepik</span></td></tr></tbody></table><p class="MsoNormal">There are many
resources available specifically for students trying to manage their finances.
Look into <a href="https://www.zabursaries.co.za/student-loans/" rel="nofollow" target="_blank"><span style="color: #1155cc;">student loans and bursaries</span></a>, as well as
scholarships, work-study programs, and other financial aid options.</p><p class="MsoNormal"><br /></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">If you’re in
need of student funding, you can speak to your college’s financial aid office
to find out what your options are.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">Some
universities even host budgeting and money management programs from financial
institutions and organisations to help you make the most of your student
budget. Why not take some time to find out what’s available where you study so
that you don’t miss out on any potential savings or support?<o:p></o:p></span></p><h2 style="margin-bottom: 10pt;"><a name="_m8m77s2j3bu2"></a><span lang="EN-GB">6.
Use Student Discounts & Offers<o:p></o:p></span></h2><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhk4_-7tMIXObN1IhZdiY--ckGPwPCLV56rBsT-Q1i098htc7EX9jsORQJzoh0eZFh8EXqtwVChoCXAYRVrcdYxFqkO7nyzsh5LiJLI8gg3QZPkj9OILT3h7s9V5OPx9JvfgVUUleVzRmBwbP8Oz1-uXxFRNYNSNXZIWGxKcffFXlz8DYd5ufs7WLF0fg/s800/student-finances-student-discount.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhk4_-7tMIXObN1IhZdiY--ckGPwPCLV56rBsT-Q1i098htc7EX9jsORQJzoh0eZFh8EXqtwVChoCXAYRVrcdYxFqkO7nyzsh5LiJLI8gg3QZPkj9OILT3h7s9V5OPx9JvfgVUUleVzRmBwbP8Oz1-uXxFRNYNSNXZIWGxKcffFXlz8DYd5ufs7WLF0fg/s16000/student-finances-student-discount.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/sale-cards-on-beige-background-5650026/" rel="nofollow" style="text-align: left;" target="_blank"><span style="color: #1155cc;">Karolina Grabowska</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table><p class="MsoNormal">Student discounts and offers are a great
way for you to save money when shopping or travelling. Whether you’re planning
a trip with friends or family (a trip to the mall counts), student discounts
can help you get the most out of your budget.</p><p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">It’s easy for you to find ways to save
money while still having an amazing experience, thanks to student deals on
shopping, flights, and hotels, as well as discounts on attractions,
entertainment, and more.<o:p></o:p></span></p><h2><span lang="EN-GB">7. Regularly Monitor Your Credit Score & Report<o:p></o:p></span></h2><p class="MsoNormal"></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhksO5vwq-JsmMmh0CqtRaTIxcZeGRNiqevYFsdm4RdsuCGt8UJnhzYKsAMsY2dDUNfL_9Y38qDiZ95kHRAQD-IkQTlL-Cmxau4Xrn4C-jxoLNt29woIqb0XkQcV0ZLzjy2vGKeG7fNPJ3YzIQg89dTJdUEPtoCp-Ebb7ka00kGOEz_TqxCvYtifVWErg/s800/student-finances-credit-report.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhksO5vwq-JsmMmh0CqtRaTIxcZeGRNiqevYFsdm4RdsuCGt8UJnhzYKsAMsY2dDUNfL_9Y38qDiZ95kHRAQD-IkQTlL-Cmxau4Xrn4C-jxoLNt29woIqb0XkQcV0ZLzjy2vGKeG7fNPJ3YzIQg89dTJdUEPtoCp-Ebb7ka00kGOEz_TqxCvYtifVWErg/s16000/student-finances-credit-report.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/problematic-young-woman-holding-tax-papers-6963027/" rel="nofollow" style="text-align: left;" target="_blank"><span style="color: #1155cc;">Mikhail Nilov</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table><a href="https://www.clearscore.com/" rel="nofollow" target="_blank"><span style="color: #1155cc;">Credit scores
and reports</span></a> play a large role when it comes to your financial health
as a student. Frequently monitoring your credit score and staying on top of any
changes will help you keep your finances in check. Make sure that all of your
accounts are up-to-date and if there are any discrepancies, address them
immediately.<p></p><p class="MsoNormal"><br /></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">You can obtain
a free copy of your credit report each year from the three major credit
bureaus: Experian, TransUnion, and Equifax. Having a good credit score can help
minimise the cost of borrowing to purchase a vehicle or home later on.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><b><i><span lang="EN-GB">Did you know? </span></i></b><i><span lang="EN-GB">Your </span></i><span lang="EN-GB"><a href="https://www.eishstudentbudget.com/2021/01/lets-talk-about-debt-baby-credit.html" target="_blank"><i><span style="color: #1155cc;">credit-utilisation
ratio</span></i></a><i> is estimated to
count up to 30% (yes, 30%) of your credit score.<o:p></o:p></i></span></p><h2><span lang="EN-GB">8. Automate Payments and Set Reminders for Bills<o:p></o:p></span></h2><p class="MsoNormal"></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqoXUJvmS4XVACU8NnA6hPvlawkMgoKPCx-ZDZnUziM7H3VQidt9U0ehi4IglvttYjLRox_IAPidDN8-CLdjGzWUHf7D9RF4DVa5ujaG2nHleIM4Op8ArJkvOByZgNBQsWPLT_zDeG4kCvBlRtaHb0sG4V_ITi-PkiYDgF5CJIkU23gxCNgy3k1_VUSA/s800/student-finances-calendar-reminder.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqoXUJvmS4XVACU8NnA6hPvlawkMgoKPCx-ZDZnUziM7H3VQidt9U0ehi4IglvttYjLRox_IAPidDN8-CLdjGzWUHf7D9RF4DVa5ujaG2nHleIM4Op8ArJkvOByZgNBQsWPLT_zDeG4kCvBlRtaHb0sG4V_ITi-PkiYDgF5CJIkU23gxCNgy3k1_VUSA/s16000/student-finances-calendar-reminder.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="text-align: left;">Image by </span><a href="https://www.pexels.com/photo/crop-woman-making-schedule-in-calendar-5239795/" style="text-align: left;" target="_blank"><span style="color: #1155cc;">Anete Lusina</span></a><span style="text-align: left;"> on Pexels</span></td></tr></tbody></table>If you’ve ever
wondered, “How do I go about managing my finances and expenses without going
crazy?” look no further than setting automatic payments.<p></p><p class="MsoNormal"><br /></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">One of the
best ways to remain on top of your finances as a student is to automate
payments for bills. Doing this can help ensure that you never miss a payment,
thus avoiding any late fees and penalties. Additionally, be sure to also set
reminders for all due dates so that you can pay bills in a timely manner.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom: 10pt;"><b><span lang="EN-GB">P.S.: </span></b><span lang="EN-GB">Remember to cancel
those subscriptions before your free trial ends.
</span></p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CE5nkp1gH8U/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14" style="background: rgb(255, 255, 255); border-radius: 3px; border: 0px; box-shadow: rgba(0, 0, 0, 0.5) 0px 0px 1px 0px, rgba(0, 0, 0, 0.15) 0px 1px 10px 0px; margin: 1px; max-width: 540px; min-width: 326px; padding: 0px; width: calc(100% - 2px);"><div style="padding: 16px;"><span lang="EN-GB"> <a href="https://www.instagram.com/p/CE5nkp1gH8U/?utm_source=ig_embed&utm_campaign=loading" style="background: rgb(255, 255, 255); line-height: 0; padding: 0px; text-align: center; text-decoration: none; width: 100%;" target="_blank"> <div style="align-items: center; display: flex; flex-direction: row;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div></div></div><div style="padding: 19% 0px;"></div> <div style="display: block; height: 50px; margin: 0px auto 12px; width: 50px;"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns:xlink="https://www.w3.org/1999/xlink" xmlns="https://www.w3.org/2000/svg"><g fill-rule="evenodd" fill="none" stroke-width="1" stroke="none"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></div><div style="padding-top: 8px;"> <div style="color: #3897f0; 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line-height: 17px; margin-bottom: 0px; margin-top: 8px; overflow: hidden; padding: 8px 0px 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.instagram.com/p/CE5nkp1gH8U/?utm_source=ig_embed&utm_campaign=loading" style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" target="_blank">A post shared by eishstudentbudget™ (@eishstudentbudget)</a></p></span></div></blockquote><span lang="EN-GB"> <script async="" src="//www.instagram.com/embed.js"></script>
</span><p></p><p class="MsoNormal" style="margin-bottom: 10pt;"><span lang="EN-GB">You could use
Google Calendar or write reminders in your notes app or actual diary. This way,
you'll always know exactly when each bill needs to be paid.<o:p></o:p></span></p><h2 style="margin-bottom: 10pt;"><a name="_3gtnwtjtsaea"></a><span lang="EN-GB">Final
Thoughts on Managing Your Student Finances<o:p></o:p></span></h2><p class="MsoNormal"><span lang="EN-GB">Managing money well is essential for
anyone's financial success, especially yours as a student. While it can be a
daunting task, with the right tools and strategies, you can learn to manage
your money and still enjoy yourself at college.<o:p></o:p></span></p><p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">In addition, there are a plethora of
resources available to help you budget, save money, and make smart financial
decisions. This can be in the form of reading professional finance websites or
attending personal finance workshops. But ultimately, speaking to a financial
advisor is best.<o:p></o:p></span></p><p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">Now that you have an idea of the importance
of managing student finances, why not read up on the difference between what's <a href="https://www.eishstudentbudget.com/2021/04/urgent-vs-important-personal-finance.html" target="_blank"><span style="color: #1155cc;">important and urgent</span></a> financially?<o:p></o:p></span></p><h2 style="text-align: left;"><span lang="EN-GB">FAQS ON HOW TO MANAGE MONEY AS
A STUDENT</span></h2><h3><a name="_kq11mo89v0t4"></a></h3><h3 style="text-align: left;"><span lang="EN-GB">Why Is It Important for a
Student to Learn How to Manage Finances?</span></h3><h4 style="text-align: left;"><a name="_6fxktk9nvgu"></a></h4><p style="text-align: left;"><span lang="EN-GB">Learning how to manage your finances as a
student can help you avoid debt and plan for future expenses, learn budgeting
skills and financial responsibility, prioritise spending and saving, and
prepare you for financial independence and stability in adulthood.</span></p><h3 style="text-align: left;"><span lang="EN-GB">How Can I, as a Student,
Properly Manage My Personal Finances?</span></h3><h4><a name="_1rh9vi78bjvi"></a></h4><p class="MsoNormal" style="text-align: left;"><span lang="EN-GB">You can follow the tips in this blog post
and speak to a registered financial advisor about managing finances properly.<o:p></o:p></span></p><h3 style="text-align: left;"><span lang="EN-GB">What Does It Mean to Manage
One’s Finances?</span></h3><p style="text-align: left;">Managing your finances essentially means
taking control of your income and expenses to achieve financial stability and
reach your long-term financial goals.</p><h2><a name="_ltqywo3jzqs"></a><span lang="EN-GB">Disclaimer<o:p></o:p></span></h2><p class="MsoNormal"><span lang="EN-GB">This blog post is for informational
purposes only and does not constitute financial advice. <o:p></o:p></span></p><p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">The information presented herein is not a
substitute for and should never be relied upon for professional financial
advice.<o:p></o:p></span></p><p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">Always talk to your financial advisor about
the risks and benefits of any financial information shared. If you are looking
for financial advice, kindly speak to somebody who is certified and registered
with the <a href="https://www.fsca.co.za/Pages/Default.aspx" rel="nofollow" target="_blank"><span style="color: #1155cc;">Financial Sector Conduct Authority (FSCA)</span></a>.<o:p></o:p></span></p><p class="MsoNormal"><span lang="EN-GB"> </span></p><p class="MsoNormal"><span lang="EN-GB">eishstudentbudget™ and its owner(s) are not
liable for any loss, harm, or damage you may incur as a result of your using
the information presented here.</span></p><br /></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0Johannesburg, South Africa-26.2041028 28.0473051-54.514336636178847 -7.1089449000000009 2.1061310361788443 63.2035551tag:blogger.com,1999:blog-3131452752612168104.post-81120971484141941962022-11-12T19:09:00.002+02:002022-11-12T22:19:03.245+02:00How to Save Money | 7 Ways to Save Money as a Student<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEinVyso6rog275qHrj33GOBuaVT2aP8Gkn5dWH9juPfI_sGqc6_tt5OSg548MrTooybL3GeSX5hKEEiFRAlkdxFLpFZXumhaJGJp7sTtc6s7p-eQmqhCHdQM6DlLgsGkj1hOXvmK7B9QuUNzEjWs9uymLYX7qsB9w-3ooLfJvJOtdiBo_gLH53SwRCXoQ" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of man adding a coin to his piggybank to save money." data-original-height="594" data-original-width="975" src="https://blogger.googleusercontent.com/img/a/AVvXsEinVyso6rog275qHrj33GOBuaVT2aP8Gkn5dWH9juPfI_sGqc6_tt5OSg548MrTooybL3GeSX5hKEEiFRAlkdxFLpFZXumhaJGJp7sTtc6s7p-eQmqhCHdQM6DlLgsGkj1hOXvmK7B9QuUNzEjWs9uymLYX7qsB9w-3ooLfJvJOtdiBo_gLH53SwRCXoQ=s16000" /></a></div><br /><p></p><div style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">University (or "college" to
some) is supposed to be the time of your life. And why wouldn't it be? From fun
parties to being able to buy whatever groceries you'd like, college is the time
when you have the <i>most</i> amount of
freedom with the <i>least</i> amount of responsibility.</span></span></div><div style="margin: 12pt 0cm; text-align: left;"><span style="font-family: inherit;"><span lang="EN-GB"><span>With that being said, being a
university student does come with its own set of challenges. Take being broke,
for instance.</span></span></span></div><div style="margin: 12pt 0cm; text-align: left;"><span style="font-family: inherit;"><span lang="EN-GB"><span>Despite getting more money than you've
probably seen in your entire schooling career, you're always left with little
to nothing to show for it. We've all been there. It sucks.</span></span></span></div><div style="margin: 12pt 0cm; text-align: left;"><span style="font-family: inherit;"><span lang="EN-GB" style="line-height: 115%;"><span>Thankfully, I've created this guide to help you
save money fast as a student. After all, saving money is part of<a href="https://www.eishstudentbudget.com/2021/12/5-ways-to-practice-financial-self-care.html"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://www.eishstudentbudget.com/2021/12/5-ways-to-practice-financial-self-care.html" target="_blank"><span style="color: #1155cc;">financial self-care</span></a> and is super important.
Let's dive right in!</span></span></span></div><p><span face=""Arial",sans-serif" lang="EN-GB" style="font-size: 11pt; line-height: 115%; mso-ansi-language: EN-GB; mso-bidi-language: AR-SA; mso-fareast-font-family: Arial; mso-fareast-language: EN-ZA;"></span></p><h2 style="break-after: auto; margin-bottom: 4pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 17pt; line-height: 115%;"><span style="font-family: inherit;">How to Save
Money and Achieve Your Savings Goals</span><o:p></o:p></span></h2><div><span lang="EN-GB" style="line-height: 115%;"><div class="separator" style="clear: both; font-size: 17pt; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEisk6CuvnarCDg4HsrouW_62tna3lLr_sXiJ-yW_VHjeflLD054pR7VqFL-L87b1mVUgx4kT9V_TL6pLHi52zTbPlSo3P2d8IEyr2YhMNmSBmzmta7VA-jN3uPkVVziAfwvbPGDpgyp7O83pXfL8PNmKRiHCfokQJ2dL2mEwY6maNFLBqzA6ROGU7Z7TQ" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of a dart near the centre of a target in blog post of "How to save money."" data-original-height="594" data-original-width="975" src="https://blogger.googleusercontent.com/img/a/AVvXsEisk6CuvnarCDg4HsrouW_62tna3lLr_sXiJ-yW_VHjeflLD054pR7VqFL-L87b1mVUgx4kT9V_TL6pLHi52zTbPlSo3P2d8IEyr2YhMNmSBmzmta7VA-jN3uPkVVziAfwvbPGDpgyp7O83pXfL8PNmKRiHCfokQJ2dL2mEwY6maNFLBqzA6ROGU7Z7TQ=s16000" /></a></div><br /><div style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB" style="font-family: inherit;">There are numerous ways for you to
save money. Here are some key money-saving tips.</span></div><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Set a Monthly
Budget With a Savings Plan</span><o:p></o:p></span></h3><div><p class="MsoNormal" style="margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 12.0pt; margin: 12pt 0cm;"><span lang="EN-GB" style="font-family: inherit;">Creating and following a budget helps
you keep track of your finances. It's also a great way to check if your
financial decisions are in line with your savings plan.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 12.0pt; margin: 12pt 0cm;"><span lang="EN-GB" style="font-family: inherit;">It's probably the first time you've
been given money and have had to pay for your cell phone plan and clothing, for
example. So, it makes sense that<a href="https://www.eishstudentbudget.com/2020/04/budgeting-for-beginners.html"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://www.eishstudentbudget.com/2020/04/budgeting-for-beginners.html" target="_blank"><span style="color: #1155cc;">budgeting as a beginner</span></a> may seem intimidating.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom: 12.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 12.0pt; margin: 12pt 0cm;"><span lang="EN-GB" style="font-family: inherit;">Keep in mind that the more you
practise, the better you'll get. It's not necessarily about sticking to it 100%
of the time (although that would be great, wouldn't it? 😅). But it's
about forming good habits for your financial future.<o:p></o:p></span></p>
<span lang="EN-GB" style="font-family: inherit; line-height: 115%; mso-ansi-language: EN-GB; mso-bidi-language: AR-SA; mso-fareast-font-family: Arial; mso-fareast-language: EN-ZA;">P.S. Check out my<a href="https://eishstudentbudget.gumroad.com/l/simplebudgettemplate"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://eishstudentbudget.gumroad.com/l/simplebudgettemplate" rel="nofollow" target="_blank"><span style="color: #1155cc;">simple budget template</span></a> if you'd like to get
started.</span></div><div><span lang="EN-GB" style="line-height: 115%;"><h3 style="break-after: auto; font-size: 11pt; margin-top: 14pt;"><span lang="EN-GB" style="font-family: inherit; font-size: 13pt; line-height: 115%;">Keep Your
Living Expenses Low<o:p></o:p></span></h3><div><span lang="EN-GB" style="line-height: 115%;"><div class="separator" style="clear: both; font-family: Arial, sans-serif; font-size: 13pt; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjcJ_orcjtdfqI3M7Mg0XpEQtvlFFs6ENKHBmgK81Wk1UvHDw9uD2AiLk5zNgObMyatNvWaErsM91jDdcG3bkyt6vw3FZJWM7sVyoSZlVDk7SSxBZ0K1z_6vLfTGyOt5NaxsqqgH9uSFIjNGDmSZzGUTmAeY3NTEQixqA8r10FbAmA4nVJ5wKm8etRrcw" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of flatlay with a notepad saying, "expenses," with stationary, coffee, glasses, and a keyboard nearby." data-original-height="594" data-original-width="975" src="https://blogger.googleusercontent.com/img/a/AVvXsEjcJ_orcjtdfqI3M7Mg0XpEQtvlFFs6ENKHBmgK81Wk1UvHDw9uD2AiLk5zNgObMyatNvWaErsM91jDdcG3bkyt6vw3FZJWM7sVyoSZlVDk7SSxBZ0K1z_6vLfTGyOt5NaxsqqgH9uSFIjNGDmSZzGUTmAeY3NTEQixqA8r10FbAmA4nVJ5wKm8etRrcw=s16000" /></a></div><br /><p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">Naturally, keeping your expenses low
(both fixed costs and variable costs) helps you save money. The more you keep
your expenses lower than your income, the more money you'll have left over.<o:p></o:p></span></span></p>
</span><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;">You can use this extra money to contribute to
your<a href="https://www.eishstudentbudget.com/2020/08/emergency-funds-basics.html"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://www.eishstudentbudget.com/2020/08/emergency-funds-basics.html" target="_blank"><span style="color: #1155cc;">emergency fund</span></a> or your investments. Either
way, you'll have more options (thanks to more money).</span></span></span></p><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"></span></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Track Your
Expenses</span><o:p></o:p></span></h3><div><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">While this won't necessarily help you
save money fast, it is one of the best ways to save money over time.<o:p></o:p></span></p>
<span lang="EN-GB" style="line-height: 115%;"><a href="https://www.eishstudentbudget.com/2021/09/how-expense-tracking-works.html" target="_blank"><span style="color: #1155cc;">Tracking your expenses</span></a> can help you find out <i>exactly</i> where your money is going. Over
time, you'll be able to figure out what the money suckers are and spend money
more mindfully.</span></span></span></div><div><span lang="EN-GB" style="line-height: 115%;"><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Buy Used
Textbooks (or Visit the Library)</span><o:p></o:p></span></h3><div><span lang="EN-GB" style="line-height: 115%;"><div class="separator" style="clear: both; font-size: 13pt; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjrLCGFrIul9AvI9cjv9oWhtXHgBf4m5gUJ4mXMhBQ3qOPs6pMWvvpay2m-nX_lKidnFR7RxH0UXlgwYuvgt58jLLY5pgcsvPZE-bprYiLKXAqqEayVebmKx7JYuLfppGDkfmceUbpASR0kv0aMwgkpq08wh3gMN7mOBoBxvqhcW0mksAJzRPahnPgd1A" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of open books laid on top of one another on a desk." data-original-height="594" data-original-width="975" src="https://blogger.googleusercontent.com/img/a/AVvXsEjrLCGFrIul9AvI9cjv9oWhtXHgBf4m5gUJ4mXMhBQ3qOPs6pMWvvpay2m-nX_lKidnFR7RxH0UXlgwYuvgt58jLLY5pgcsvPZE-bprYiLKXAqqEayVebmKx7JYuLfppGDkfmceUbpASR0kv0aMwgkpq08wh3gMN7mOBoBxvqhcW0mksAJzRPahnPgd1A=s16000" /></a></div><br /><p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">Saying that<a href="https://www.uopeople.edu/blog/why-are-textbooks-so-expensive/"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://www.uopeople.edu/blog/why-are-textbooks-so-expensive/" rel="nofollow" target="_blank"><span style="color: #1155cc;">textbooks are expensive</span></a> is an understatement.
Depending on your courses, you can find yourself spending a handsome amount of
money on books.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">Thankfully, there are online
marketplaces specifically for buying and selling pre-loved textbooks. How
awesome is that?<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">If you prefer getting an up-and-close
look at a textbook before buying, you can always check out the second-hand
booksellers on campus.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">Another way to save money is to spend
some quality time in the library. You'll probably spend quite a bit of time
studying there, so why not borrow textbooks? It doesn't cost a dime (unless you
return the books late), saving you money on your savings journey.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span style="font-family: inherit;">Being a little patient and resourceful
in this area can lead to big savings.<o:p></o:p></span></span></p>
</span><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;"><b><span lang="EN-GB" style="line-height: 115%;">Tip:
</span></b><span lang="EN-GB" style="line-height: 115%;">Second-hand textbooks
from fellow students are cheaper than second-hand bookstores.</span></span></span></p><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-family: inherit; font-size: 13pt; line-height: 115%;">Clever Grocery
Shopping</span></h3></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj27_kHPxE2Bas4Qr-0opvBr6DiwOCHUcaaLaoEihD5wkZ_GAaaEJ7txUagW-2OLliUa6ARI0PLEb_sgNS8DUWe7pKJBrxR7cX5CJNvo3nV_2VJGqPl6Hk65WlYlwKH4M-mxzA8AGi2x0SaLvYTu1v8NBM35PvvcFKp-9GSEqhxU8vbrUIpCqRzxhFDhw/s624/Image%20of%20woman%20wearing%20a%20mask%20doing%20grocery%20shopping.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of woman wearing a mask, holding a pineapple, and doing grocery shopping." border="0" data-original-height="380" data-original-width="624" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj27_kHPxE2Bas4Qr-0opvBr6DiwOCHUcaaLaoEihD5wkZ_GAaaEJ7txUagW-2OLliUa6ARI0PLEb_sgNS8DUWe7pKJBrxR7cX5CJNvo3nV_2VJGqPl6Hk65WlYlwKH4M-mxzA8AGi2x0SaLvYTu1v8NBM35PvvcFKp-9GSEqhxU8vbrUIpCqRzxhFDhw/s16000/Image%20of%20woman%20wearing%20a%20mask%20doing%20grocery%20shopping.jpg" /></a></div><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><br /></span></div><div><span lang="EN-GB" style="font-family: inherit; line-height: 115%;"><p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span>Whether you're doing a bit of online
shopping or popping into your favourite grocery store, ensure you check and
compare prices online first.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm; text-align: left;"><span lang="EN-GB"><span>This way, you'll have an idea of which
store is more affordable for you. I <i>love </i>checking
prices online because I can make sure I get the best price (in-store or
online).<o:p></o:p></span></span></p>
</span><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;">Do this by first writing your shopping list and
then comparing the prices for the products online. I usually shop at three to
four stores in the same mall and buy the cheapest groceries from each. I don't
necessarily have a <i>favourite </i>grocery
store, but I know what my checking account likes — saving money.</span></span></span></p><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"></span></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Get a Student
Cheque and Checking Account</span><o:p></o:p></span></h3><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgE906KRqA7AwtoVra8olXu0i4RzJ3-2CkNro38F9CFcL4g4qN5_C_mLD9gMi4IFfI2IrQ2idFn5YPpOBpnSg_N11nzCZF4y6D98JdORwWVTT8dSwyHZCJXZaooghbj42qL7p-0N1RkPEh1iW1d2misCrbe63zVhv2HYf94ALgf_hYzjsLyyp-wZWkQhQ/s624/Image%20of%20Visa%20and%20Mastercard%20bank%20cards%20next%20to%20cash.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of Visa and Mastercard with cash next to it." border="0" data-original-height="380" data-original-width="624" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgE906KRqA7AwtoVra8olXu0i4RzJ3-2CkNro38F9CFcL4g4qN5_C_mLD9gMi4IFfI2IrQ2idFn5YPpOBpnSg_N11nzCZF4y6D98JdORwWVTT8dSwyHZCJXZaooghbj42qL7p-0N1RkPEh1iW1d2misCrbe63zVhv2HYf94ALgf_hYzjsLyyp-wZWkQhQ/s16000/Image%20of%20Visa%20and%20Mastercard%20bank%20cards%20next%20to%20cash.jpg" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div></div><div><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;">You can open a student bank account
with lower monthly fees than regular accounts. Depending on your habits, you
may choose between a pay-as-you-go option or an unlimited transaction fixed fee
account.</span></span></div><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;">
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">I personally chose the fixed fee
unlimited transactions account because I knew I'd use my bank account for many
things. I don't withdraw cash once in a while and make deposits once in a blue
moon. If I did, I think a pay-as-you-go option would be reasonable (and
cheaper).<o:p></o:p></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">If you're someone who's a
"heavy" account user and requires more from a bank account, then the
fixed fee account may be your best bet.<o:p></o:p></span></p>
</span></span><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;">Whichever option you choose, it has to make
financial sense and suit your lifestyle.</span></span></span></p><p style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"></span></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Open an
Interest-Bearing Savings Account</span><o:p></o:p></span></h3></div><div style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Would you save your money under your
pillow or in a drawer? <i>No. </i>So, check
out the different banks and see which one offers a savings account with a good
interest rate.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Some banks offer fixed savings
accounts (i.e., a fixed deposit account) where you save for a fixed period
(say, three to six months).<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">If you think you'll need access to
your money immediately, it may be helpful to sign up for a normal savings
account. This is incredibly helpful in emergencies and unexpected expenses.</span><span style="font-size: 13pt;"><o:p></o:p></span></span></p><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Have Different
Bank Accounts</span><o:p></o:p></span></h3><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNBU-EWPdioLVWBLO38OLB5E8evVUFI5G-JtjCDEnBg8C48SzoDNEE31A6cq0LCkeH_R5ew4h7KACQdJrNnMNJB4UIayUfy4kTwVoPcwo6AlOk118vdQAInmuUoh3-UcHCmoGxzHPfVDugS6YBRFCDkUFHAqs5cJ223cC2zJTaVkLQZRB1qM1AYqi9tA/s624/Image-of-bank-sign.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of bank sign." border="0" data-original-height="380" data-original-width="624" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNBU-EWPdioLVWBLO38OLB5E8evVUFI5G-JtjCDEnBg8C48SzoDNEE31A6cq0LCkeH_R5ew4h7KACQdJrNnMNJB4UIayUfy4kTwVoPcwo6AlOk118vdQAInmuUoh3-UcHCmoGxzHPfVDugS6YBRFCDkUFHAqs5cJ223cC2zJTaVkLQZRB1qM1AYqi9tA/s16000/Image-of-bank-sign.jpg" /></a></div><br /><span lang="EN-GB" style="line-height: 115%;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Having a separate savings account (at
another bank) can help you track your savings better. You may find this
incredibly useful if you can't resist transferring your savings to your
checking (cheque) account.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Another great benefit is that it helps
you avoid being overly dependent on one bank. Online banking being down for
scheduled maintenance is not uncommon, so it helps to be able to transact
without worry.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">You can even have one account
specifically for long-term savings and another for your emergency fund. I think
it's quite handy for one's savings journey.</span><span style="font-size: 13pt;"><o:p></o:p></span></span></p><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Sign Up for
Store Loyalty Programs</span><o:p></o:p></span></h3><div style="text-align: left;"><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">Ooh, don't get me started on<a href="https://study.com/learn/lesson/customer-loyalty-program-purpose-examples.html"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://study.com/learn/lesson/customer-loyalty-program-purpose-examples.html" rel="nofollow" target="_blank"><span style="color: #1155cc;">loyalty programs</span></a>. I've subscribed to so many
(at no cost, because we're smart like that), I've lost count — just kidding.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">But on a serious note: I make sure all
my loyalty cards are in one place, so I can swipe up some points at the till.
Last I checked, most of my loyalty cards give me cash back. This allows me to
pay for much-needed purchases with my loyalty card.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">It's come in handy quite a few times,
especially when I needed to save money fast but <i>still </i>buy essentials.<o:p></o:p></span></p>
</span></span><p><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;">Apart from getting cash back, you can also get
some sweet discounts. Some stores have promotions, especially for members or loyalty cardholders. Sign up for a few and start saving money with these right
away.</span></span></span></p><p><span lang="EN-GB" style="line-height: 115%;"><span lang="EN-GB" style="line-height: 115%;"></span></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;">Visit Your
Campus Clinic<o:p></o:p></span></h3><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihuFtI_Y3d-JOiWTvQGt8mvB-rp0A6V0KYMPsqxNZs5DZ9YAHPdyRNbJXbz-d3ocXYT-19VnkBR_oDHXk-hj6hAAGL0JGKElTBmRdFS1VLXDr5eI5wEePl2m6KF-SrPxbeeUXcHOusAn4s9vu8hdF7eI0FLX_ub0iiF7-whejpiZYNa-MXYwrExrlhUg/s624/woman-seeing-doctor.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of lady saving money by seeing a campus doctor." border="0" data-original-height="380" data-original-width="624" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihuFtI_Y3d-JOiWTvQGt8mvB-rp0A6V0KYMPsqxNZs5DZ9YAHPdyRNbJXbz-d3ocXYT-19VnkBR_oDHXk-hj6hAAGL0JGKElTBmRdFS1VLXDr5eI5wEePl2m6KF-SrPxbeeUXcHOusAn4s9vu8hdF7eI0FLX_ub0iiF7-whejpiZYNa-MXYwrExrlhUg/s16000/woman-seeing-doctor.jpg" /></a></div><br /><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">You may be on your parent's medical
aid (or have your own if you're an international student) and prefer to seek
private medical care. But you don't necessarily have to if you're a student.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">In South Africa, some universities
have a campus clinic where you can seek medical attention. From nurses to
clinical psychiatrists, they may offer free admission*.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">This can be helpful if you fall ill on
campus and need to see a general practitioner.<o:p></o:p></span></p>
<i><span lang="EN-GB" style="line-height: 115%;">*Check
in with your college or university for more information on this. You may have
to pay a consultation fee to see a medical expert at your campus clinic.</span></i></span></span></div><div><span lang="EN-GB" style="line-height: 115%;"><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Buy Generic
Drugs vs Prescription Drugs</span><o:p></o:p></span></h3><div><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">One of the best ways to save money is
to buy generic medication (generic drugs) instead of brand-name prescription
drugs.<o:p></o:p></span></p>
<span lang="EN-GB" style="line-height: 115%;">Generally speaking, generic medication is
cheaper than its brand-name counterparts. They still contain the active
ingredient(s) to help you heal, but they're more affordable.</span></span></span></div><div><span lang="EN-GB" style="line-height: 115%;"><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;">Cut Down on
Premium Subscriptions<o:p></o:p></span></h3><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFgZHF_p9UTXdE169wyBE_Zu-VqcBFXStGBbIPjLUPyqm6_FAYz9qAgFbP9sQDyudsTCrSB-FXWZtlBvN09cC6doWT_QbIlU1uwWW9xgQXGlvgMcq2AFm8_-Uj0BgIKHOjPLfik_1JWRTw1ycjEW68m_xTd26alpuBtgAgjB_eJn7JD8Gc4z0v0WfbtQ/s624/woman-eating-popcorn-watching-subscription-service.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of woman with popcorn watching a movie on her laptop." border="0" data-original-height="380" data-original-width="624" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFgZHF_p9UTXdE169wyBE_Zu-VqcBFXStGBbIPjLUPyqm6_FAYz9qAgFbP9sQDyudsTCrSB-FXWZtlBvN09cC6doWT_QbIlU1uwWW9xgQXGlvgMcq2AFm8_-Uj0BgIKHOjPLfik_1JWRTw1ycjEW68m_xTd26alpuBtgAgjB_eJn7JD8Gc4z0v0WfbtQ/s16000/woman-eating-popcorn-watching-subscription-service.jpg" /></a></div><br /><span lang="EN-GB" style="line-height: 115%;"><span style="font-family: inherit;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB">I know, I know. You can't live without
[name subscription service], but hear me out.<o:p></o:p></span></p>
<span lang="EN-GB" style="line-height: 115%;">Streaming services and other recurring monthly
bills can really eat into your bank balance. If you want to keep your streaming
services, consider family and group plans. This way, you can split the monthly
cost and save money. <i>Grab your popcorn!</i></span></span></span></div><div><span lang="EN-GB" style="line-height: 115%;"><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Don't Spend
Money (or at Least Try Not to)</span><o:p></o:p></span></h3><div><span lang="EN-GB" style="line-height: 115%;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">I know this sounds (and actually is)
difficult, especially when it feels like one has to pay just for breathing. But
let's be honest: how <i>many times</i> have
you spent money when you could've avoided it? This is a no-judgment zone —
we've <i>all </i>been there.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">One of the easiest ways to save money
is just not to spend it.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Are sales in email newsletters too
irresistible? You can unsubscribe from marketing emails to avoid the temptation
of shopping online.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">A major benefit of this is that you
can see and understand your spending habits better. Going on a spending freeze
for a certain period of time can help you avoid outflows from your account. You
may even find you have extra cash to put towards credit card debt (or store
accounts).</span><span style="font-size: 13pt;"><o:p></o:p></span></span></p><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"></span></p><h3 style="break-after: auto; margin-top: 14pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 13pt; line-height: 115%;"><span style="font-family: inherit;">Avoid
Unnecessary Debt</span><o:p></o:p></span></h3><div><span lang="EN-GB" style="line-height: 115%;"><div class="separator" style="clear: both; font-size: 13pt; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhiYEfortexCpRplpngNPAbhmEMUWxi2-dNxvuV0BjwZgl5xkAdq47IUxwFk2BIQAeOYQvGIk_fb3uRIPNqH64Q_UfxVxH0ysRuZ3fJNioxzSPQY5qaqU9vGUmaafL8chRrUb0riDZ5XiMCD8f3F5iBQTMcnaMry3p4sGufYjNACd5oTy9dzTspZQFZ3g/s624/Debt-jar-money.jpg" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of a jar with cash notes and coins labelled "Debt"." border="0" data-original-height="380" data-original-width="624" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhiYEfortexCpRplpngNPAbhmEMUWxi2-dNxvuV0BjwZgl5xkAdq47IUxwFk2BIQAeOYQvGIk_fb3uRIPNqH64Q_UfxVxH0ysRuZ3fJNioxzSPQY5qaqU9vGUmaafL8chRrUb0riDZ5XiMCD8f3F5iBQTMcnaMry3p4sGufYjNACd5oTy9dzTspZQFZ3g/s16000/Debt-jar-money.jpg" /></a></div><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Speaking of which, you can save money
by not going into unnecessary debt in the first place. This is especially true
for consumer debt, which is the debt you take on to purchase goods.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Whether it's credit card debt or
credit balances on your store account, unnecessary debt can negatively affect
your ability to save money. This is because the interest rates on this type of
debt can be quite high (compared to personal loans, for example).<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;"><span style="font-family: inherit;">Plus, it's <i>way better </i>to use your extra money to save or invest instead of
making debt payments.</span><o:p></o:p></span></span></p><h2 style="break-after: auto; margin-bottom: 4pt; mso-pagination: widow-orphan; page-break-after: auto;"><span lang="EN-GB" style="font-size: 17pt; line-height: 115%;"><span style="font-family: inherit;">Final Thoughts
on Saving Money as a Student</span><o:p></o:p></span></h2><div><span lang="EN-GB" style="line-height: 115%;"><p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">As a student, you can save money in
many ways. From taking advantage of student discounts to buying used textbooks,
you can start saving for your future. Making the right financial decisions now
can put you in a better position tomorrow.<o:p></o:p></span></span></p>
<p class="MsoNormal" style="margin: 12pt 0cm;"><span lang="EN-GB"><span style="font-family: inherit;">Looking for ways to<a href="https://www.eishstudentbudget.com/2021/11/4-ways-to-make-extra-money-as-student.html"><span color="windowtext" style="text-decoration-line: none;"> </span></a><a href="https://www.eishstudentbudget.com/2021/11/4-ways-to-make-extra-money-as-student.html" target="_blank"><span style="color: #1155cc;">make extra money</span></a>? Check out this blog post
next!</span><span style="font-size: 17pt;"><o:p></o:p></span></span></p></span></div></span></div></span></div></span></div></span></div></span></div></div></span></div></span></div></span></div></div></span></div></span></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-2593793425422330442021-12-16T17:11:00.001+02:002021-12-16T17:11:39.198+02:005 Ways to Practice Financial Self-Care This Holiday Season<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiDwRpVXuky36sq3-ua1teUKP9n5PRgL92eg4zwtaQi5jMnEApFFgRBIgAW63HSP8ZRQVe6Jmrp1UAHvR-_TvrUVLI2ZLZnehHKmYS6c1l8PeGTkKvlaswqN_p76EUdW_L5uCzgl3KPMRctC73XxxbwKcALgw8nN0B8GY4zou5nPax0j9Yylfr_f0_R3Q=s2048" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" height="360" src="https://blogger.googleusercontent.com/img/a/AVvXsEiDwRpVXuky36sq3-ua1teUKP9n5PRgL92eg4zwtaQi5jMnEApFFgRBIgAW63HSP8ZRQVe6Jmrp1UAHvR-_TvrUVLI2ZLZnehHKmYS6c1l8PeGTkKvlaswqN_p76EUdW_L5uCzgl3KPMRctC73XxxbwKcALgw8nN0B8GY4zou5nPax0j9Yylfr_f0_R3Q=w640-h360" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><p></p><p style="text-align: justify;">The festive season is upon us and it's easy to get carried with our spending during this time. Many people receive their salary <i>and </i>13th cheque (or bonus) around December. This can be both a blessing and curse, as some people are able to pay off their debt while others use their money less constructively.</p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"> <a href="https://blogger.googleusercontent.com/img/a/AVvXsEhGldaLBSy4JyRBXwR0SfUy1pVPzgCeHtb8hLhRO0dygRRsj8C9-5WOKc0Cf3WfEqhWq0nNn1ibbaRvNUfxvM06xAVy4vzrRbrR1zqm4oPbPe9sojCWdUD7VKeb6hnad2ZxsoCOpMenHXHzyh46QYKJRAM4ZmPwvpgPMkCWrXqxTkPjYGoIULZIgsWfOg=s480" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="270" data-original-width="480" src="https://blogger.googleusercontent.com/img/a/AVvXsEhGldaLBSy4JyRBXwR0SfUy1pVPzgCeHtb8hLhRO0dygRRsj8C9-5WOKc0Cf3WfEqhWq0nNn1ibbaRvNUfxvM06xAVy4vzrRbrR1zqm4oPbPe9sojCWdUD7VKeb6hnad2ZxsoCOpMenHXHzyh46QYKJRAM4ZmPwvpgPMkCWrXqxTkPjYGoIULZIgsWfOg=s16000" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: <a href="https://giphy.com/gifs/5hrYy1UEgCkvgX6BBL" target="_blank">Baronnes von Sketch Show</a> via <a href="https://giphy.com/" target="_blank">GIPHY</a></td></tr></tbody></table><p style="text-align: justify;"><i>Ke December, Boss! </i>("It's December, Boss!") is a term that is sometimes used to justify (or even promote!) spending frivolously in December.</p><p><br /></p>
<blockquote class="twitter-tweet"><p dir="ltr" lang="en">Me making plans is easy but my budget be like <a href="https://twitter.com/hashtag/KeDezembaBoss?src=hash&ref_src=twsrc%5Etfw">#KeDezembaBoss</a> <a href="https://t.co/XZ5hPElgn0">pic.twitter.com/XZ5hPElgn0</a></p>— Jesus Christ is King (@TSUSIEN) <a href="https://twitter.com/TSUSIEN/status/936519852327661568?ref_src=twsrc%5Etfw">December 1, 2017</a></blockquote><p><br /></p><p>How do we avoid falling into the <a href="https://eishstudentbudget.blogspot.com/2020/12/how-to-avoid-janu-worry-blues.html" target="_blank">Janu-worry blues</a>, yet still <i>Dezemba </i>properly?</p><p><br /></p><p>Well, let's look at practicing <a href="https://eishstudentbudget.blogspot.com/2021/08/7-ways-to-practice-financial-self-care.html" target="_blank">financial self-care</a> this holiday season.</p><p><br /></p><p>As shared in <i><a href="https://eishstudentbudget.blogspot.com/2021/08/7-ways-to-practice-financial-self-care.html" target="_blank">Top 7 Ways To Practice Financial Self-Care</a></i>, financial self-care is the act of attending to one's financial wellness, generally without professional finance consultation. </p><p><br /></p><div style="text-align: justify;"><b><span style="font-size: large;">Here are 5 Ways to Practice Financial Self-care This Holiday Season</span></b></div><div style="text-align: justify;"><b><span style="font-size: large;"><br /></span></b></div><p style="text-align: justify;"><b><span style="font-size: medium;">1. Set a <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">Budget</a></span></b></p><p style="text-align: justify;"><b><br /></b></p><p style="text-align: justify;"><a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">Budgeting </a>is an activity that is often seen as restrictive and boring (and it can feel like it, at times), but when <a href="https://www.investopedia.com/financial-edge/1109/6-reasons-why-you-need-a-budget.aspx" target="_blank">used correctly</a> it can help one find space to create more financial room. What is a budget? Well, a budget is basically a plan of your income and expenses for a specific period of time. Budgets act as a road-map – that you design – to help you stay on course and achieve your goals. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">A top goal for many is to make it through <i>Dezemba</i>, so they won't experience <i><a href="https://eishstudentbudget.blogspot.com/2020/12/how-to-avoid-janu-worry-blues.html" target="_blank">Janu-worry</a>.</i></p><p style="text-align: justify;"><i><br /></i></p> <script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>
<blockquote class="twitter-tweet"><p dir="ltr" lang="en">Remember that December salary needs to last you through the 5 weeks of Januworry.</p>— Khanya Thembane (@noksy_k) <a href="https://twitter.com/noksy_k/status/1470781313372372996?ref_src=twsrc%5Etfw">December 14, 2021</a></blockquote><p><br /></p><p style="text-align: justify;">By budgeting your money this <i>Dezemba</i>, it can help you ensure you pay your bills on time and have money set aside for fun.</p><p><br /></p><p style="text-align: left;"><b><span style="font-size: medium;">2. Set Money Aside for Fun</span></b></p><p style="text-align: left;"><b><span style="font-size: medium;"><br /></span></b></p> <script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>
<div style="width: 100%;"><div style="height: 0px; padding-bottom: 42.5%; position: relative; width: 100%;"><iframe allowfullscreen="" frameborder="0" height="100%" src="https://giphy.com/embed/GLjyq0rZ9X13NaAJHA/video" style="left: 0; position: absolute; top: 0;" width="100%"></iframe></div></div><div><br /></div><div style="text-align: justify;">Okay, so maybe you won't have that much fun money. But let's get real: budgeting for fun and going out is better than not budgeting for it at all. Why? When you set money aside for entertainment and going out (<i>get your free Simple Budget Template that includes an entertainment expense category <a href="http://eishstudentbudget.gumroad.com/l/simplebudgettemplate" target="_blank">here</a>) </i>it's money for which you don't have to dig into your <a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" target="_blank">emergency fund</a> or <i>*gasps* </i>use your credit card. </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><b><span style="font-size: medium;">3. Spend Your Salary or 13th Cheque Wisely</span></b></div><div style="text-align: justify;"><b><span style="font-size: medium;"><br /></span></b></div><div style="text-align: justify;"><span><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="font-weight: bold; margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjoNdbsa1tg28dPIXuvQcvkb7LOJYVluIvrE2MTCr4L4wm7Hho-stN8yq6dS6Fkv3qTJ8bh2Ouh1DcRtE8nopgnda5LMpe0PSxkaFGrs1yrVcZQgeRb8Fcy2PxUfq_0-w0H8JoYjEXB_HgWE83JxZ3-sOvMV1zfASimHaHQBo-OCOVKa0KY_CYwbLsm9A=s480" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="198" data-original-width="480" src="https://blogger.googleusercontent.com/img/a/AVvXsEjoNdbsa1tg28dPIXuvQcvkb7LOJYVluIvrE2MTCr4L4wm7Hho-stN8yq6dS6Fkv3qTJ8bh2Ouh1DcRtE8nopgnda5LMpe0PSxkaFGrs1yrVcZQgeRb8Fcy2PxUfq_0-w0H8JoYjEXB_HgWE83JxZ3-sOvMV1zfASimHaHQBo-OCOVKa0KY_CYwbLsm9A=s16000" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><p style="text-align: center;"><span style="font-weight: normal;">Source: <a href="https://giphy.com/gifs/youngboynba-youngboy-never-broke-again-l1J9EZEsT79Bbe16E" target="_blank">YoungBoy Never Broke Again</a> via <a href="https://giphy.com/" target="_blank">GIPHY</a></span></p></td></tr></tbody></table></span></div><p style="text-align: justify;">It's easy to feel <i>rich</i> when you receive your bonus (or 13th cheque) and salary in December. Although employees know they'll receive a salary <i>and </i>bonus at year-end, one could say it's <a href="https://www.abc15.com/news/state/curse-of-the-lottery-the-tragic-stories-of-big-jackpot-winners" target="_blank">spent like an unexpected lottery win</a>. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">An <a href="https://www.moneyweb.co.za/financial-advisor-views/four-ways-to-use-your-13th-cheque-responsibly/" target="_blank">article </a>on Moneyweb by <a href="https://www.moneyweb.co.za/financial-advisor/thulisile-nkomo/" target="_blank">Thulisile Nkomo (CFP)</a> discusses various ways to spend one's salary or 13th cheque wisely. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><a href="https://www.moneyweb.co.za/financial-advisor/thulisile-nkomo/" target="_blank">She </a>shared the following <a href="https://www.moneyweb.co.za/financial-advisor-views/four-ways-to-use-your-13th-cheque-responsibly/" target="_blank">methods</a> for spending one's salary or 13th cheque responsibly:</p><p style="text-align: justify;"></p><ul><li>Pay off your debts</li><li>Pay off your mortgage</li><li>Pay school fees in advance</li><li>Invest more</li></ul><div><br /></div><div><b><span style="font-size: medium;">4. Don't Make Promises to Pay for Anyone's Tab</span></b></div><div><b><span style="font-size: medium;"><br /></span></b></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEg6NHiou0VUQBLo0byLgzxBXJ2cnhMFp9OKyOz3DcbwRYPyLdBfiMcZhiRgDkIbCjA_-8u-3ifdJzkZHkwJ6k5JAnpGeG9_IGkAHPhOkxFsIED9lNMaOwKfa5hMGXSb8zbkZtitCVC13KSwWXXRXJdpu2eXNyXdd03A1H1ULxoy0xwm33s3xg-mg14cPQ=s350" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="250" data-original-width="350" src="https://blogger.googleusercontent.com/img/a/AVvXsEg6NHiou0VUQBLo0byLgzxBXJ2cnhMFp9OKyOz3DcbwRYPyLdBfiMcZhiRgDkIbCjA_-8u-3ifdJzkZHkwJ6k5JAnpGeG9_IGkAHPhOkxFsIED9lNMaOwKfa5hMGXSb8zbkZtitCVC13KSwWXXRXJdpu2eXNyXdd03A1H1ULxoy0xwm33s3xg-mg14cPQ=s16000" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><p>Source: <a href="https://giphy.com/gifs/hbo-veep-selinameyer-julialouisdreyfus-xTiTnD7v2PyuAnEHBK" target="_blank">Veep HBO</a> via <a href="https://giphy.com/" target="_blank">GIPHY</a></p></td></tr></tbody></table><div>Linked to the 3rd point above – part of spending money wisely involves not promising to take care of others' expenses. It's <i>sorta </i>that simple. You may have extra money because of your bonus or 13th cheque, but that does not mean you have to pay for others' drinks (or anything else). Your money should be yours to keep. </div><div><br /></div><div><b><span style="font-size: medium;">5. Manage Your Family's Expectations</span></b></div><div><b><span style="font-size: medium;"><br /></span></b></div><p style="text-align: justify;">This is a tricky one because almost everyone has been there. December rolls around and suddenly everyone remembers you and <a href="http://www.702.co.za/articles/307442/black-tax-working-hard-earning-well-but-struggling-financially" target="_blank">requests your financial assistance</a>. There is nothing wrong with helping others here and there, but it should not come at the expense of you achieving your financial goals. Like <a href="http://www.702.co.za/articles/307442/black-tax-working-hard-earning-well-but-struggling-financially" target="_blank">this article</a> suggests, consider having an honest conversation with your family members about your financial contributions.</p><p style="text-align: justify;"><br /></p><div style="text-align: left;"><b><span style="font-size: large;">Wrap-up</span></b></div><div style="text-align: left;"><b><span style="font-size: large;"><br /></span></b></div><div style="text-align: justify;">Thank you for taking the time to read this blog post. I hope you enjoyed reading it as much as I did writing it.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">The festive season is a great time to spend with loved ones and have fun, but we should not neglect financial self-care during this time. What are other ways you can think of to practice financial self-care this holiday season? Let us know in the comments section below.</div><div style="text-align: justify;"><br /></div><p></p><p style="text-align: justify;">Till next time!</p><div class="separator" style="clear: both; text-align: left;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgVzUX3Jbx_BZJj5guKXfohORhv-nDs4dCUn10Dh5i2pcykelJqNF5J_dSCuzeXCG1uMKVUydUrY5XL7WUeYO7Ybv5nN84s_HGuOi8lsrM8zDM0hKRFKFHImGkUyu0m6RAVleJLt56eQHmGe92hUeJDwCTyBrSw-qD-ZuLzIGGNLAWp6TBXDp5v7uypNA=s424" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="124" data-original-width="424" height="59" src="https://blogger.googleusercontent.com/img/a/AVvXsEgVzUX3Jbx_BZJj5guKXfohORhv-nDs4dCUn10Dh5i2pcykelJqNF5J_dSCuzeXCG1uMKVUydUrY5XL7WUeYO7Ybv5nN84s_HGuOi8lsrM8zDM0hKRFKFHImGkUyu0m6RAVleJLt56eQHmGe92hUeJDwCTyBrSw-qD-ZuLzIGGNLAWp6TBXDp5v7uypNA=w200-h59" width="200" /></a></div><br /><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><br /></p><span></span><p style="text-align: justify;"><br /></p><div><span style="font-family: "Playfair Display";"><i>Disclaimer:</i></span></div><div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></i></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><i><br /></i></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><i>The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</i></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></i></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></i></div></div><p style="text-align: justify;"><br /></p><p></p>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com4tag:blogger.com,1999:blog-3131452752612168104.post-40572006883903067452021-12-03T22:11:00.004+02:002023-01-15T11:14:59.676+02:00eishstudentbudget™ Disclaimer<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiu1QmfF3zKFPSuXDPk3EMp_rIvfiCMeLlDsrfPKq81J1vHz1knP_Zsi5_G4XhJMC7W1cfBvT1yqyOpFM7Tvr-KS0Ms4yPMKJZiQzOaDxTsQcFGRgBhxoqmpCqkc4Sgz1aieOaHLG1HEpBGQI-0317bEzhRLD-mwyqy4nuwazve69EFNMLvoh2VoZpMCQ=s2048" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" src="https://blogger.googleusercontent.com/img/a/AVvXsEiu1QmfF3zKFPSuXDPk3EMp_rIvfiCMeLlDsrfPKq81J1vHz1knP_Zsi5_G4XhJMC7W1cfBvT1yqyOpFM7Tvr-KS0Ms4yPMKJZiQzOaDxTsQcFGRgBhxoqmpCqkc4Sgz1aieOaHLG1HEpBGQI-0317bEzhRLD-mwyqy4nuwazve69EFNMLvoh2VoZpMCQ=s16000" /></a></div><p style="text-align: justify;"><br /></p><p style="text-align: justify;">This blog is for informational purposes only and does not constitute financial advice. This blog contains general information only, and neither eishstudentbudget™ nor its owner(s) is, through this blog, rendering professional advice or services.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the <a href="https://www.fsca.co.za/Pages/Default.aspx" rel="nofollow" target="_blank">Financial Sector Conduct Authority (FSCA)</a>.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented here.</p>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-81940444641969518812021-11-03T20:54:00.021+02:002023-02-14T17:10:18.838+02:004 Ways to Make Extra Money as a Student This Holiday Season<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjmUe5g6QXcpc1AQ8exSNHD97EOblNomeQw7ZyuUQLFRdv0oZ1BN-ZiFzjasuBATrhb3PTiEibi9mexWZKSI4UGRh72d4Xs0Fo1PW8FuvK_LWb4b_Ch4hxrH59cK1qhHj8p3qHAqMcCljHUY4YuhaWgIkqQxXrTCXYiL7EOhEivgH2ptGp8-jBVTsUtUQ=s2048" style="margin-left: 1em; margin-right: 1em;"><img alt=""4 Ways To Make Extra Money As A Student This Holiday Season" blog post banner with a group of young adults smiling and laughing with sunny, cloudy skies amidst green trees in the background." border="0" data-original-height="1152" data-original-width="2048" height="360" src="https://blogger.googleusercontent.com/img/a/AVvXsEjmUe5g6QXcpc1AQ8exSNHD97EOblNomeQw7ZyuUQLFRdv0oZ1BN-ZiFzjasuBATrhb3PTiEibi9mexWZKSI4UGRh72d4Xs0Fo1PW8FuvK_LWb4b_Ch4hxrH59cK1qhHj8p3qHAqMcCljHUY4YuhaWgIkqQxXrTCXYiL7EOhEivgH2ptGp8-jBVTsUtUQ=w640-h360" title="4 Ways To Make Extra Money As A Student This Holiday Season" width="640" /></a></div><p style="text-align: justify;"><br /></p><p style="text-align: justify;">We've all been there: being done with exams and ready for the holiday season. But what if you are looking to not hang out with friends or chill at home, but instead make some money during the holiday season? If your financial goal is to learn about the different ways to make extra money this festive season, you've come to the right place! </p><h3 style="text-align: justify;">The Issue</h3><p style="text-align: justify;">The issue with being a university student is that there aren't that many high-paying jobs for someone who doesn't have a degree yet (isn't "qualified") or isn't certified in some way (has <a href="https://www.entrepreneur.com/article/346287" target="_blank">certifications</a>). </p><p style="text-align: justify;">Plus, the jobs that could pay you enough to be <i>comfortable — </i>or as comfortable as a student could be<i> — </i>require you to work full-time. Now, I don't know about you, but unless you're superhuman it can be incredibly challenging to work <i>and </i>study full-time.</p><h3 style="text-align: justify;">The Solution</h3><p style="text-align: left;">Working seasonally, particularly during the holiday season, is a great way to work full-time without worrying about keeping up with your coursework. </p><p style="text-align: left;"><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhrWSERGq5vwuUsGj0X36aGVT9Ln4hm3fmFsuoStgK6v7xKkHx39Oh8qNWQ3-WiXAvn88y8liIJhgLFA_4q1jc35KHA_zBObUy7U5LewZQdbQe-guVBRxcUJzvAl4p0YecDof9OhbqSHkVnnQCnkdZmisl_2Q0hXLrhSlBLY8rCpj73rDbyoBEpcSh9Qw=s480" style="margin-left: auto; margin-right: auto;"><img alt="Gif of Trevor Noah, host of The Daily Show with Trevor Noah, saying, "Problem solved." and pointing his index finger to his head and pointing to the audience." border="0" data-original-height="480" data-original-width="480" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEhrWSERGq5vwuUsGj0X36aGVT9Ln4hm3fmFsuoStgK6v7xKkHx39Oh8qNWQ3-WiXAvn88y8liIJhgLFA_4q1jc35KHA_zBObUy7U5LewZQdbQe-guVBRxcUJzvAl4p0YecDof9OhbqSHkVnnQCnkdZmisl_2Q0hXLrhSlBLY8rCpj73rDbyoBEpcSh9Qw=w320-h320" title="4 Ways to Make Extra Money as a Student This Holiday Season" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: <a href="https://giphy.com/thedailyshow/" target="_blank">The Daily Show with Trevor Noah</a> via <a href="https://giphy.com/" target="_blank">GIPHY</a></td></tr></tbody></table><p style="text-align: justify;">Now that we've figured out that working during the holiday season is the optimal time to work as a student, let's look at four ways to make extra money as a student.</p><div><h2 style="text-align: left;">4 Ways to Make Extra Money as a Student This Holiday Season</h2><p style="text-align: left;"><b>1. Work as a Sales Assistant</b> </p><p style="text-align: left;"><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgM3I9ZlCj3r8t2b8rYRYw0_sc5qfsYv5yl0aNwTXZsjCrfp4y9v22_iv_Lpuk0tcIQ0_x1yBlz7kvD29bU6fnDCNnB4ViCSlsZFk09jU9jGs_aQ2d4jGkmA8ERPcYRqWbgVO8vJlfhEfcr_y4vCBP6vmV7E2eoGADxuJ3DntoXVEOMsmANHW9QscJIrw=s500" style="margin-left: auto; margin-right: auto;"><img alt="Smiling cashier assisting lady at the counter to pay for goods." border="0" data-original-height="334" data-original-width="500" height="214" src="https://blogger.googleusercontent.com/img/a/AVvXsEgM3I9ZlCj3r8t2b8rYRYw0_sc5qfsYv5yl0aNwTXZsjCrfp4y9v22_iv_Lpuk0tcIQ0_x1yBlz7kvD29bU6fnDCNnB4ViCSlsZFk09jU9jGs_aQ2d4jGkmA8ERPcYRqWbgVO8vJlfhEfcr_y4vCBP6vmV7E2eoGADxuJ3DntoXVEOMsmANHW9QscJIrw=w320-h214" title="4 Ways to Make Extra Money as a Student This Holiday Season" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Photo by <a href="https://unsplash.com/@claybanks" target="_blank">Clay Banks</a> on <a href="http://www.unsplash.com" target="_blank">Unsplash</a></td></tr></tbody></table><p style="text-align: justify;">Many retailers advertise posts and have increased demand for sales assistants during the holiday season. This is because many people will be shopping for gifts, clothes, gadgets, etc. With employees receiving their bonuses (13th cheque), they will have more disposable income around this time. Retailers anticipate and prepare for this by hiring more sales assistants during the festive season.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Sales assistants work on the sales floor and assist customers by answering inquiries, assisting them with item selection, and so on. If you have great interpersonal skills and don't mind being on your feet all day, this could be a great option for you. According to <a href="https://za.indeed.com/career/sales-assistant/salaries" target="_blank">Indeed.com</a>, the average salary for a sales assistant in South Africa is R4 140 per month. Please alter the search to reflect the average salary in your location.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Retailers are not only looking for sales assistants. They are also looking for:</p><p style="text-align: justify;">- Shelf packers</p><p style="text-align: justify;">- Cashiers</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><b>2. Sell your Skills</b></p><p style="text-align: justify;"><b><br /></b></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhNr9hhqbqwKZXtzR7c6jt4t62EQ9A7Wg9NCVDEjdRIbDgFPk7gT91ERFR99hob9zTnMxZtVKSkpDruYQ7L2niObjATIUZHhIE47qodBx-IYo-dKYR6yne6SQxLKXKvBmLU8Q4KqD_7jGhRpyUIxG6k3OUdrqA-sFrFwCoch_P6iqMjYW-Nz73QccWZtQ=s2048" style="margin-left: auto; margin-right: auto;"><img alt="Image of Muslim female student in the library reading a book with a camera in front of her and a coffee drink beside her on the desk." border="0" data-original-height="1365" data-original-width="2048" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEhNr9hhqbqwKZXtzR7c6jt4t62EQ9A7Wg9NCVDEjdRIbDgFPk7gT91ERFR99hob9zTnMxZtVKSkpDruYQ7L2niObjATIUZHhIE47qodBx-IYo-dKYR6yne6SQxLKXKvBmLU8Q4KqD_7jGhRpyUIxG6k3OUdrqA-sFrFwCoch_P6iqMjYW-Nz73QccWZtQ=w320-h213" title="4 Ways to Make Extra Money as a Student This Holiday Season" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Photo by<span style="font-family: inherit;"> <a class="N2odk RZQOk Vk1a0 AsGGe pgmwB KHq0c" href="https://unsplash.com/@pantiumforce" style="background-color: white; box-sizing: border-box; display: inline; line-height: 1.35; overflow: hidden; text-align: start; text-decoration-line: none; text-decoration-skip-ink: auto; text-overflow: ellipsis; transition: color 0.1s ease-in-out 0s, opacity 0.1s ease-in-out 0s; white-space: nowrap;" target="_blank">Muhammad Haikal Sjukri</a> on </span><a href="http://www.unsplash.com" target="_blank"><span style="font-family: inherit;">U</span>nsplash</a></td></tr></tbody></table><p style="text-align: justify;">If you have a skill such as photography, baking, knowledge on a specific topic (for tutoring), etc, you can sell these skills to people in your community and people online.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">You can take pictures of people at weddings and other events, bake scones and cupcakes for sale to people in your neighborhood, and tutor students online from different parts of the world.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Generally speaking, the pay depends on the number of hours you work and how you set your price. If you are tutoring online, the pay depends on what the tutoring company sets the rates at. If you're tutoring as an independent tutor, you can set your own rate per hour. Just make sure you're pricing your services well to factor in transportation costs to and from the student (if tutoring in person), as well as keeping in line with the average/market rate. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Ensure you are following the COVID-19 safety regulations in your area when doing these jobs.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><b>3. Complete Online Surveys or Participate in Research Studies</b></p></div><p style="text-align: justify;"><br /></p><div style="width: 100%;"><div style="height: 0px; padding-bottom: 56.25%; position: relative; width: 100%;"><iframe allowfullscreen="" frameborder="0" height="100%" src="https://giphy.com/embed/fGucWRNnJiE0jLDIbf/video" style="left: 0; position: absolute; top: 0;" width="100%"></iframe></div><a href="https://giphy.com/channel/parksandrec" rel="noopener noreferrer" style="clear: both; display: inline-block; height: 36px; line-height: 18px; margin: 10px 0px; padding: 0px 0px 0px 44px; position: relative;" target="_blank"><img alt="" src="https://media3.giphy.com/avatars/parksandrec/OBmuvx7w00dT/80h.jpg" style="height: 36px; left: 0px; position: absolute; top: 0px; width: 36px;" /><div style="font-size: 16px; font-weight: bold;">Parks and Recreation</div><div style="font-size: 14px; font-weight: normal;">@parksandrec</div></a><p style="margin-top: 6px;"><strong>Are You Having Fun?</strong><br />Clips from Parks and Recreation</p><p style="margin-top: 6px;"><br /></p></div><p style="text-align: justify;">
Now, some surveys do ask boring questions like Amy Poehler's character does in the clip above, but some survey sites ask you interesting questions about research and products you've never heard before. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Survey sites like <a href="https://app.prolific.co/" target="_blank">Prolific</a> have surveys based on research done by masters and Phd students, marketers, etc. These cover industries such as Medical, Education, etc. Sometimes you get to play games and your responses and moves you make are used in research. It's pretty interesting! </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">So far, I've earned £25.63 (approximately R538.33 at the time of writing) by completing surveys on <a href="https://app.prolific.co/" target="_blank">Prolific </a>part-time. I joined them on 31 August 2021. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"></p><p style="-webkit-text-stroke-width: 0px; color: black; font-family: "Times New Roman"; font-size: medium; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></p><p></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="-webkit-text-stroke-width: 0px; font-family: "Times New Roman"; letter-spacing: normal; margin-left: auto; margin-right: auto; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-transform: none; widows: 2; word-spacing: 0px;"><tbody><tr><td style="text-align: center;"><a href="https://lh3.googleusercontent.com/-9ZuTgx6ahOc/YYHLqDD9aFI/AAAAAAAABjE/wq1G0iDUylYzCXCr6i-Px6EZ3Y_XWuyAwCLcBGAsYHQ/image.png" style="margin-left: auto; margin-right: auto; text-align: center;"><img alt="Screenshot of Prolific earnings since 31 August 2021" data-original-height="165" data-original-width="1163" height="91" src="https://lh3.googleusercontent.com/-9ZuTgx6ahOc/YYHLqDD9aFI/AAAAAAAABjE/wq1G0iDUylYzCXCr6i-Px6EZ3Y_XWuyAwCLcBGAsYHQ/w640-h91/image.png" style="cursor: move;" title="4 Ways To Make Extra Money As A Student This Holiday Season" width="640" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Prolific earnings since 31 August 2021</td></tr></tbody></table><p style="text-align: justify;">You could probably make more than that if you do it full-time during the holiday season. Be sure to install their Prolific Assistant on your <a href="https://chrome.google.com/webstore/detail/prolific-assistant/ocfncbnofopjedoepmekajbgdenadepp" target="_blank">Chrome </a>or <a href="https://addons.mozilla.org/en-US/firefox/addon/prolific-assistant/" target="_blank">Firefox </a>browser. Once you have configured it to your liking, it will send you notifications of new studies on their site. This way you're more likely to complete more studies and get paid more. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">It's not a guarantee that you'll get a spot in the study that's on their site because spots fill up quickly. But it does help you keep an eye out for more studies.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Another great site or app is <a href="https://dscout.com" target="_blank">dscout</a>. <a href="https://dscout.com" target="_blank">dscout </a>is an app that allows you to participate in user research. You'll partake in research that asks about your experience using certain products, for example. It usually involves answering multiple-choice questions, short and long questions, and video responses. Sometimes the research requires you to take pictures and videos of the product the research is about. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">So far, I've made $110 (approximately R1 696.76 at the time of writing) on the app. I joined the app in early September 2021.</p><br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEia63yy83zYa7mYVSVhdfjkNrUkqMD8DRJjhn5TF1Q-BScUzLYHtg6FsNfeRSwI0Z0C_c3_yDWymJbz444aym0pFe8eNptm_bk-qhzEEud3KPhHuN3sa1W0aB4pkRxVRgp02w13FiFwsdqW1FK63GxsxwdVNip-_NcMFZC4sIQE4092u5TVcrDcCSk03g=s1080" style="margin-left: auto; margin-right: auto;"><img alt="Screenshot of $110 earnings on dscout app." border="0" data-original-height="915" data-original-width="1080" height="339" src="https://blogger.googleusercontent.com/img/a/AVvXsEia63yy83zYa7mYVSVhdfjkNrUkqMD8DRJjhn5TF1Q-BScUzLYHtg6FsNfeRSwI0Z0C_c3_yDWymJbz444aym0pFe8eNptm_bk-qhzEEud3KPhHuN3sa1W0aB4pkRxVRgp02w13FiFwsdqW1FK63GxsxwdVNip-_NcMFZC4sIQE4092u5TVcrDcCSk03g=w400-h339" title="4 Ways To Make Extra Money As A Student This Holiday Season" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Overall earnings to date on dscout app.</td></tr></tbody></table><br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhe1gdX8ICv3NJSGvWFHyopYjYz6-4YrCaAO6MCroayiQXbk07PVYL7kuTyU8q54df44o3wjneVZFBU2TlzZ_y_yb81szO1I1yAQagof5WAiGv4zWProM9tqiH4e8pbGwS7W06DnksqVq7Hw2FBPMeJAN7C-QBfHiFrBkoJBNLodXreXGlKLtCJ1iQEIQ=s1080" style="margin-left: auto; margin-right: auto;"><img alt="Screenshot of breakdown of earnings from dscout." border="0" data-original-height="892" data-original-width="1080" height="330" src="https://blogger.googleusercontent.com/img/a/AVvXsEhe1gdX8ICv3NJSGvWFHyopYjYz6-4YrCaAO6MCroayiQXbk07PVYL7kuTyU8q54df44o3wjneVZFBU2TlzZ_y_yb81szO1I1yAQagof5WAiGv4zWProM9tqiH4e8pbGwS7W06DnksqVq7Hw2FBPMeJAN7C-QBfHiFrBkoJBNLodXreXGlKLtCJ1iQEIQ=w400-h330" title="4 Ways to Make Extra Money as a Student This Holiday Season" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Breakdown of $110 earnings on dscout app.</td></tr></tbody></table><div>Last but not least, we have <a href="https://surveytime.io/how-it-works" target="_blank">Surveytime</a>. </div><div><br /></div><p style="text-align: justify;"></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiRxWeIMg66AeIsTIoY6hxV3NtNJcp-NSm4ybfYCVio6AKO9XYH3nec6qEFUcpVReSNpZTwDZes28IiaQrRfO59H3faG-1XqGxmvUiQpOlT-JHPJumZZtZbj-EkIW94mb8-UN1ryTmMvbjepY1GUhOLncmkpdDNBjZifhpdfZtkPvMOsDmBnKmyNLiRXg=s344" style="margin-left: auto; margin-right: auto;"><img alt="Surveytime.io logo" border="0" data-original-height="344" data-original-width="344" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEiRxWeIMg66AeIsTIoY6hxV3NtNJcp-NSm4ybfYCVio6AKO9XYH3nec6qEFUcpVReSNpZTwDZes28IiaQrRfO59H3faG-1XqGxmvUiQpOlT-JHPJumZZtZbj-EkIW94mb8-UN1ryTmMvbjepY1GUhOLncmkpdDNBjZifhpdfZtkPvMOsDmBnKmyNLiRXg=w320-h320" title="4 Ways to Make Extra Money as a Student This Holiday Season" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><a href="http://www.surveytime.io" target="_blank">Surveytime </a>logo. © <a href="http://Surveytime.io" target="_blank">Surveytime.io</a>. All rights reserved.</td></tr></tbody></table><p style="text-align: left;">Surveytime is a website where you can earn $1 for every survey you complete. The surveys range from a few minutes to more than 30 minutes at a time. Also, when there are no $1 surveys available, sometimes they'll have $0.50 surveys available for you to complete.</p><p></p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">So far, I've earned $9.50 (approximately R147.03) so far. I signed up in late September 2021. </p><p style="text-align: justify;"><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiv51-YF1XU-6HpL83I2MA5-VRUDcaQwiDe3WRRDy2dOCaYsc1bF2PLghprvQF6k3ZwABSW-vn115RSOMGz-TpclnYzlCQAvbWhlscOkLLBBAh4M_m3c2rLKhIlI2kuYIkbPi_-bLaQUzYv2rUZQCJ7O7b8Ynskl5LagCWJr1qQvIW7OhKb1kQ4UMLKgg=s480" style="margin-left: auto; margin-right: auto;"><img alt="Video screenshot converted to gif of earnings from Surveytime.io since 28 September 2021." border="0" data-original-height="480" data-original-width="480" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEiv51-YF1XU-6HpL83I2MA5-VRUDcaQwiDe3WRRDy2dOCaYsc1bF2PLghprvQF6k3ZwABSW-vn115RSOMGz-TpclnYzlCQAvbWhlscOkLLBBAh4M_m3c2rLKhIlI2kuYIkbPi_-bLaQUzYv2rUZQCJ7O7b8Ynskl5LagCWJr1qQvIW7OhKb1kQ4UMLKgg=w320-h320" title="4 Ways to Make Extra Money as A student This Holiday Season" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">My earnings on <a href="http://surveytime.io" target="_blank">Surveytime </a>from 28 September 2021</td></tr></tbody></table><div><p style="text-align: justify;">It's worth noting that I completed only 12 surveys: 7 were $1 surveys, and the rest were $0.50 surveys. You could probably earn more if you spent more time on them. Surveytime allows you to set up desktop and email notifications, so you don't miss new surveys. They also have an <a href="https://ambassador.surveytime.io/" target="_blank">affiliate program</a> you can apply to & sign up for if you are an "influencer, blogger, vlogger, and media channel manager with an engaged and active audience who has an interest in generating additional income and working from home." according to their website.</p><p style="text-align: justify;"><br /></p><div style="text-align: justify;"><b>4. Manage the Social Media and/or Content Creation of Small Businesses or Brands</b></div><div style="text-align: justify;"><b><br /></b></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiivGnahPbM8WmIOxHcQrEfrI74Ho-ChdK9_0U20Ls7QCboEt8erYGejwLBMMdeOQSu8GAiZZ95r5jykKuVcqjramXiHvh-v8BtOEKlO1PnL1ulpnymgJ24BwgxgaIaFwjId6Jx9fpuR-70VE8GvdZ1Kx4wxiP4o6k6lo85XOqHpzfwe5-OBSaD2NYdWw=s500" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="333" data-original-width="500" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEiivGnahPbM8WmIOxHcQrEfrI74Ho-ChdK9_0U20Ls7QCboEt8erYGejwLBMMdeOQSu8GAiZZ95r5jykKuVcqjramXiHvh-v8BtOEKlO1PnL1ulpnymgJ24BwgxgaIaFwjId6Jx9fpuR-70VE8GvdZ1Kx4wxiP4o6k6lo85XOqHpzfwe5-OBSaD2NYdWw=s320" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Photo by <a href="https://unsplash.com/@austindistel" target="_blank">Austin Distel</a> on <a href="http://www.unsplash.com" target="_blank">Unsplash</a></td></tr></tbody></table><span style="text-align: justify;">A great way to earn extra money as a student this holiday season is to manage the social media and/or content creation of a small business or brand. </span><p style="text-align: justify;"><br /></p><p style="text-align: justify;">You can find a small business in your area (by visiting the mall, walking or driving around your area, for example) and determine if they have a social media presence. If not, you can offer to provide social media management and content creation services for them. </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">The <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjQzJ_e0fzzAhXCilwKHZtzBA0QFnoECAQQAw&url=https%3A%2F%2Fwww.jobted.co.za%2Fsalary%2Fsocial-media-manager%23%3A~%3Atext%3DThe%2520average%2520salary%2520for%2520a%2Ccan%2520exceed%2520R%2520602%2520800.&usg=AOvVaw0X7lifXd7b7FLA010eQ91T" target="_blank">average salary</a> of a social media manager in South Africa is R13 670 per month (gross amount before tax and any deductions or contributions). Considering that you're offering your services to small businesses (who are often experiencing <a href="https://ftp.iza.org/dp12936.pdf" target="_blank">financial constraints</a>), you may want to offer your services at a lower charge and negotiate the terms (posts per week, social media channels managed, and hours worked). </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Alternatively, <a href="https://www.upwork.com/" target="_blank">Upwork</a>, <a href="https://www.fiverr.com" target="_blank">Fiverr </a>and <a href="https://www.freelancer.com/" target="_blank">Freelancer </a>are some of the platforms you can use to be a freelance social media manager and content creator.</p><p style="text-align: justify;"><br /></p><p style="text-align: left;"><span style="font-size: large;"><b>Wrap-up</b></span></p><p style="text-align: left;"><span style="font-size: large;"><b><br /></b></span></p><p style="text-align: justify;">Thank you for taking the time to read this blog post. I hope you enjoyed reading it as much as I did writing it.</p><div style="text-align: justify;"><br /></div><p style="text-align: justify;">The festive season is a great time to make extra money as a student, especially since you usually have a lot of free time. What are some extra ways you can think of to make extra money as a student this holiday season? Let us know in the comments section below.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Till next time!</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><br />Take care,</p><p></p></div><div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><img border="0" data-original-height="124" data-original-width="424" height="56" src="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/w200-h56/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="200" /></a><a href="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><br /></a><a href="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><br /></a></div></div></div><div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-left: 1em; text-align: justify;"></a><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjrkd70Gk3VYZDY1v_MnH9ZBmimM6O45AIdyZqkx_J6Sbu_2AYOYTidAduJ6HKTFkStjoKED9S1fQtX-YI46Y4wXyQbzMS3Tx8lATzwFIu3deS2Sr7ikKSUGbfmDjhajbgdHNKUPimgcamMcCWIMcRRNhfr2zeaypk1ORdlvVtSPO0id3YhnQ0MbPaZ5A=s1200" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: left;"><img border="0" data-original-height="742" data-original-width="1200" height="196" src="https://blogger.googleusercontent.com/img/a/AVvXsEjrkd70Gk3VYZDY1v_MnH9ZBmimM6O45AIdyZqkx_J6Sbu_2AYOYTidAduJ6HKTFkStjoKED9S1fQtX-YI46Y4wXyQbzMS3Tx8lATzwFIu3deS2Sr7ikKSUGbfmDjhajbgdHNKUPimgcamMcCWIMcRRNhfr2zeaypk1ORdlvVtSPO0id3YhnQ0MbPaZ5A=w320-h196" width="320" /></a></div></div></div><div><div><span style="background-color: white; font-family: "Playfair Display";"><br /></span><p><br /></p><p><br /></p><p><br /></p><p><br /></p><br /><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><span style="background-color: white; font-family: "Playfair Display";"><hr /><div style="font-family: "Times New Roman";"><span style="font-family: "Playfair Display";"><i>Disclaimer:</i></span></div><div style="font-family: "Times New Roman";"><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></i></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><i><br /></i></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><i>The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</i></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></i></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></i></div></div></span></div><p></p></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0Johannesburg, South Africa-26.2041028 28.0473051-77.765517396605517 -112.5776949 25.357311796605515 168.6723051tag:blogger.com,1999:blog-3131452752612168104.post-43691723689396296272021-09-30T10:45:00.003+02:002021-11-17T10:44:53.446+02:00How Expense Tracking WorksExpense tracking is something spoken about quite a bit in the personal finance space. What is it and why is it important?<div><br /></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-m_FNGUqoO_E/YUjoW6B8gkI/AAAAAAAABes/-RkQQxXWht0hRRd9sh22oiqo-hQEbBf2gCLcBGAsYHQ/s2048/expense%2Btracking%2Bkelly-sikkema-3-Tc_5LROrM-unsplash.jpg" style="margin-left: auto; margin-right: auto;"><img alt="How expense tracking works, person holding phone and using calculator app to add expenses." border="0" data-original-height="1365" data-original-width="2048" height="213" src="https://1.bp.blogspot.com/-m_FNGUqoO_E/YUjoW6B8gkI/AAAAAAAABes/-RkQQxXWht0hRRd9sh22oiqo-hQEbBf2gCLcBGAsYHQ/w320-h213/expense%2Btracking%2Bkelly-sikkema-3-Tc_5LROrM-unsplash.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: <a href="https://unsplash.com/@kellysikkema" target="_blank">Kelly Sikkema</a> via <a href="https://unsplash.com" target="_blank">Unsplash</a></td></tr></tbody></table><h3>What is expense tracking?</h3>Expense tracking is tracking the money you spend. It involves mindfully keeping tabs on what you spend money on.<div> <blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CUN4sZ6KcxZ/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="13" style="background: rgb(255, 255, 255); border-radius: 3px; border: 0px; box-shadow: rgba(0, 0, 0, 0.5) 0px 0px 1px 0px, rgba(0, 0, 0, 0.15) 0px 1px 10px 0px; margin: 1px; max-width: 540px; min-width: 326px; padding: 0px; width: calc(100% - 2px);"><div style="padding: 16px;"> <a href="https://www.instagram.com/p/CUN4sZ6KcxZ/?utm_source=ig_embed&utm_campaign=loading" style="background: rgb(255, 255, 255); line-height: 0; padding: 0px; text-align: center; text-decoration: none; width: 100%;" target="_blank"><div style="align-items: center; display: flex; flex-direction: row;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div></div></div><div style="padding: 19% 0px;"></div> <div style="display: block; height: 50px; margin: 0px auto 12px; width: 50px;"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns:xlink="https://www.w3.org/1999/xlink" xmlns="https://www.w3.org/2000/svg"><g fill-rule="evenodd" fill="none" stroke-width="1" stroke="none"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></div><div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;"> View this post on Instagram</div></div><div style="padding: 12.5% 0px;"></div> <div style="align-items: center; display: flex; flex-direction: row; margin-bottom: 14px;"><div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(0px) translateY(7px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12.5px; margin-left: 2px; margin-right: 14px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(9px) translateY(-18px); width: 12.5px;"></div></div><div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"></div> <div style="border-bottom: 2px solid transparent; border-left: 6px solid rgb(244, 244, 244); border-top: 2px solid transparent; height: 0px; transform: translateX(16px) translateY(-4px) rotate(30deg); width: 0px;"></div></div><div style="margin-left: auto;"> <div style="border-right: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); transform: translateY(16px); width: 0px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; transform: translateY(-4px); width: 16px;"></div> <div style="border-left: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); height: 0px; transform: translateY(-4px) translateX(8px); width: 0px;"></div></div></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div></div></a><p style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0px; margin-top: 8px; overflow: hidden; padding: 8px 0px 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.instagram.com/p/CUN4sZ6KcxZ/?utm_source=ig_embed&utm_campaign=loading" style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" target="_blank">A post shared by eishstudentbudget™ (@eishstudentbudget)</a></p></div></blockquote><div><h3 style="text-align: left;">What role does expense tracking play in one's finances?</h3><div>Tracking your spending plays an important role in knowing where your money is going. It can help you stick to your <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget</a> and keep your expenses low, so you can have more control of your finances. </div><h3 style="text-align: left;">The importance of expense tracking</h3><div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-_0xl_R-_mPE/YVVY2moSpzI/AAAAAAAABe8/qYZ6Pm0KFjY4HsYP2cX2jQk4xAveNkQegCLcBGAsYHQ/s480/expense%2Btracking%2Bstress%2Bgiphy.gif" style="margin-left: auto; margin-right: auto;"><img alt="How expense tracking works, Robert E Blackmon gif of man stressed out typing expense report" border="0" data-original-height="270" data-original-width="480" height="225" src="https://1.bp.blogspot.com/-_0xl_R-_mPE/YVVY2moSpzI/AAAAAAAABe8/qYZ6Pm0KFjY4HsYP2cX2jQk4xAveNkQegCLcBGAsYHQ/w400-h225/expense%2Btracking%2Bstress%2Bgiphy.gif" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Via <a href="https://giphy.com/RobertEBlackmon/" target="_blank">Robert E Blackmon</a> on <a href="https://giphy.com/gifs/RobertEBlackmon-reactions-calculator-expense-report-YqnXaLTb68GAJ8ZHFR" target="_blank">GIPHY</a></td></tr></tbody></table><div class="separator" style="clear: both; text-align: center;"><br /></div>As stated above, tracking your expenses plays an important role in your finances. It can help you figure out where you're spending your money and where you need to cut back on to lower your expenses. </div><h3 style="text-align: left;">How to track your expenses</h3><div style="text-align: left;">How expense tracking works is that you record all your expenses and calculate the total thereof. This can be done perpetually (after each and every expense, e.g. taking note of what you spent at the grocery store one afternoon using the notes app on your phone), or periodically (at the end of the week, month, etc). </div></div></div><div style="text-align: left;"><br /></div><div style="text-align: left;">This can be done in several ways:</div><div style="text-align: left;">- Using the notes app on your phone to track your expenses</div><div style="text-align: left;">- Writing down your expenses on a notepad (pen & paper method)</div><div style="text-align: left;">- Making use of a spreadsheet like Excel, Google Sheets, or Numbers by Apple</div><div style="text-align: left;">- Using an online budgeting and finance app </div><h3 style="text-align: left;">Benefits of expense tracking</h3>
<blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CUCKvQGqJYZ/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="13" style="background: rgb(255, 255, 255); border-radius: 3px; border: 0px; box-shadow: rgba(0, 0, 0, 0.5) 0px 0px 1px 0px, rgba(0, 0, 0, 0.15) 0px 1px 10px 0px; margin: 1px; max-width: 540px; min-width: 326px; padding: 0px; width: calc(100% - 2px);"><div style="padding: 16px;"> <a href="https://www.instagram.com/p/CUCKvQGqJYZ/?utm_source=ig_embed&utm_campaign=loading" style="background: rgb(255, 255, 255); line-height: 0; padding: 0px; text-align: center; text-decoration: none; width: 100%;" target="_blank"> <div style="align-items: center; display: flex; flex-direction: row;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div></div></div><div style="padding: 19% 0px;"></div> <div style="display: block; height: 50px; margin: 0px auto 12px; width: 50px;"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns:xlink="https://www.w3.org/1999/xlink" xmlns="https://www.w3.org/2000/svg"><g fill-rule="evenodd" fill="none" stroke-width="1" stroke="none"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></div><div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;"> View this post on Instagram</div></div><div style="padding: 12.5% 0px;"></div> <div style="align-items: center; display: flex; flex-direction: row; margin-bottom: 14px;"><div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(0px) translateY(7px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12.5px; margin-left: 2px; margin-right: 14px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(9px) translateY(-18px); width: 12.5px;"></div></div><div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"></div> <div style="border-bottom: 2px solid transparent; border-left: 6px solid rgb(244, 244, 244); border-top: 2px solid transparent; height: 0px; transform: translateX(16px) translateY(-4px) rotate(30deg); width: 0px;"></div></div><div style="margin-left: auto;"> <div style="border-right: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); transform: translateY(16px); width: 0px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; transform: translateY(-4px); width: 16px;"></div> <div style="border-left: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); height: 0px; transform: translateY(-4px) translateX(8px); width: 0px;"></div></div></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div></div></a><p style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0px; margin-top: 8px; overflow: hidden; padding: 8px 0px 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.instagram.com/p/CUCKvQGqJYZ/?utm_source=ig_embed&utm_campaign=loading" style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" target="_blank">A post shared by eishstudentbudget™ (@eishstudentbudget)</a></p></div></blockquote><div style="text-align: left;"><br /></div><div style="text-align: left;">Benefits of tracking your spending include:<br />- Spending less<br />- Tracking your expenses<br />- Identifying areas for improvement <br />- Spending money mindfully <br />- Controlling credit card spending </div><h4 style="text-align: left;">Spending less</h4><div>Tracking your spending can help you spend less because when you keep track of what you're spending money on it is a lot easier to identify what you need to cut back on.</div><h4 style="text-align: left;">Tracking your expenses</h4><div>By tracking your expenses, you are able to identify what you are spending money on and how much it is you are spending on that item or service. This can be useful when evaluating if you have adhered to your <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget</a>. </div><h4 style="text-align: left;">Identifying areas for improvement</h4><div>Keeping track of your expenses might help you uncover areas where you can save money. This is when you realize you have overspent on a certain expense line item (monthly subscriptions, for example) and wish to cut back to a more manageable level of spending (e.g. instead of monthly subscriptions being R500pm, cut them down to R250pm). You can decide what is an acceptable amount for you to spend in each category of expenses.</div><h4 style="text-align: left;">Spending money mindfully</h4><div>When you track your spending, you are more aware of where your money is going and how much of it you are spending. This can be helpful when you set a financial goal to spend less and stick to a <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget</a>.</div><h4 style="text-align: left;">Controlling credit card spending</h4><div>You are more likely to know what your upcoming expenses are if you keep track of your spending. This might assist you in anticipating potential expenses so that you are not caught off guard and forced to use your credit card.</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-SofJnHW6VxM/YVV124nPOzI/AAAAAAAABfU/w1kQoLFBpdwjxXV3s-n_NPoL33yFdZzaQCLcBGAsYHQ/s480/i%2Bput%2Bit%2Bon%2Bmy%2Bcredit%2Bcard%2Bgiphy.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="270" data-original-width="480" height="225" src="https://1.bp.blogspot.com/-SofJnHW6VxM/YVV124nPOzI/AAAAAAAABfU/w1kQoLFBpdwjxXV3s-n_NPoL33yFdZzaQCLcBGAsYHQ/w400-h225/i%2Bput%2Bit%2Bon%2Bmy%2Bcredit%2Bcard%2Bgiphy.gif" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Via <a href="https://giphy.com/fetishseries/" target="_blank">Fetish Series</a> on <a href="https://giphy.com/gifs/broke-credit-card-put-it-on-my-J59NXfCqsdFTIaKoLL" target="_blank">GIPHY</a></td></tr></tbody></table><p>Tracking your expenses can help you figure out what you're spending your money on, how much you're spending, and how to reach set financial goals.</p><h3 style="text-align: left;">Wrap-up</h3><div>Thank you for taking the time to read this blog post. I hope you enjoyed reading it as much as I did writing it.</div><div><br /></div><div>Expense tracking is important because it helps us to be mindful of our spending habits and can assist us in getting control of our finances. Hopefully this blog post helped you learn the importance of expense tracking and how expense tracking works. What do you think about expense tracking and what is your favourite way to track your spending? Share your thoughts in the comments section below.</div><div><br /></div><div>Till next time!</div><div><br /></div><div>Take care,</div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: left;"><img border="0" data-original-height="124" data-original-width="424" height="59" src="https://1.bp.blogspot.com/-cW40ol7whJE/YVVn4f9UR-I/AAAAAAAABfE/y8ovMmXHkFIhpdl5645qWZ95EFJKLOlYQCLcBGAsYHQ/w200-h59/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="200" /></a></div><div><span style="background-color: white; font-family: "Playfair Display";">
<br /><br /></span><p style="text-align: left;"><br /></p><span style="background-color: white; font-family: "Playfair Display";"><hr /><div style="font-family: "Times New Roman";"><span style="font-family: "Playfair Display";">Disclaimer:</span></div><div style="font-family: "Times New Roman";"><div style="font-family: "Playfair Display"; line-height: 1.4;"><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;">The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></div></div></span></div> <script async="" src="//www.instagram.com/embed.js"></script>
eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com1tag:blogger.com,1999:blog-3131452752612168104.post-48937881489764142132021-08-10T23:27:00.015+02:002022-03-06T09:29:28.411+02:00Top 7 Ways to Practice Financial Self-care<p>When we hear the term, "self-care", we typically think of manicures and pedicures, going to the salon or barber, and "spoiling [ourselves]".</p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-ORy-06ehqkw/YKQROcEWgAI/AAAAAAAABaI/MwtwqJ_SH84IaQzQM9yMeVxxEwZfav2MACLcBGAsYHQ/s356/treat%2Byo%2Bself%2Bself%2Bcare%2Bgif.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="200" data-original-width="356" height="225" src="https://1.bp.blogspot.com/-ORy-06ehqkw/YKQROcEWgAI/AAAAAAAABaI/MwtwqJ_SH84IaQzQM9yMeVxxEwZfav2MACLcBGAsYHQ/w400-h225/treat%2Byo%2Bself%2Bself%2Bcare%2Bgif.gif" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Via <a href="https://giphy.com/RobertEBlackmon/" rel="nofollow" target="_blank">Robert E Blackmon</a> on <a href="https://media.giphy.com/media/3o6nV02vYPaSUmJ2XS/giphy.gif" rel="nofollow" target="_blank">GIPHY</a></td></tr></tbody></table><div style="text-align: justify;">While there's nothing inherently wrong with this, it is not the entire picture.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Self-care has been a popular term in the culture for some time now — and for good reason, too. With the surge in "hustle culture" and burnout, people have noted the importance of practicing self-care. </div><h2 style="text-align: left;">What is "self-care"?</h2><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CK9Z_0erFPq/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="13" style="background: rgb(255, 255, 255); border-radius: 3px; border: 0px; box-shadow: rgba(0, 0, 0, 0.5) 0px 0px 1px 0px, rgba(0, 0, 0, 0.15) 0px 1px 10px 0px; margin: 1px; max-width: 540px; min-width: 326px; padding: 0px; width: calc(100% - 2px);"><div style="padding: 16px;"> <a href="https://www.instagram.com/p/CK9Z_0erFPq/?utm_source=ig_embed&utm_campaign=loading" style="background: rgb(255, 255, 255); line-height: 0; padding: 0px; text-align: center; text-decoration: none; width: 100%;" target="_blank"> <div style="align-items: center; display: flex; flex-direction: row;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div></div></div><div style="padding: 19% 0px;"></div> <div style="display: block; height: 50px; margin: 0px auto 12px; width: 50px;"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns:xlink="https://www.w3.org/1999/xlink" xmlns="https://www.w3.org/2000/svg"><g fill-rule="evenodd" fill="none" stroke-width="1" stroke="none"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></div><div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;"> View this post on Instagram</div></div><div style="padding: 12.5% 0px;"></div> <div style="align-items: center; display: flex; flex-direction: row; margin-bottom: 14px;"><div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(0px) translateY(7px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12.5px; margin-left: 2px; margin-right: 14px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(9px) translateY(-18px); width: 12.5px;"></div></div><div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"></div> <div style="border-bottom: 2px solid transparent; border-left: 6px solid rgb(244, 244, 244); border-top: 2px solid transparent; height: 0px; transform: translateX(16px) translateY(-4px) rotate(30deg); width: 0px;"></div></div><div style="margin-left: auto;"> <div style="border-right: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); transform: translateY(16px); width: 0px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; transform: translateY(-4px); width: 16px;"></div> <div style="border-left: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); height: 0px; transform: translateY(-4px) translateX(8px); width: 0px;"></div></div></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div></div></a><p style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0px; margin-top: 8px; overflow: hidden; padding: 8px 0px 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.instagram.com/p/CK9Z_0erFPq/?utm_source=ig_embed&utm_campaign=loading" style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" target="_blank">A post shared by eishstudentbudget™ (@eishstudentbudget)</a></p></div></blockquote><p> </p><p style="text-align: justify;">As can be seen in the Instagram post above, self-care is defined by <a href="https://www.dictionary.com/browse/self-care" target="_blank">Dictionary.com</a> as "the act of attending to one's physical or mental health, generally without medical or other professional consultation (often used attributively)." </p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">It basically means taking care of yourself and attending to your emotional and physical needs. There are different ways to practice self-care (exercising, getting enough sleep, practicing mindfulness, etc), but we'll be looking at ways to practice financial self-care.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Before we can look at the different ways to practice financial self-care, we first have to understand what it means. </p><h2 style="text-align: left;">What is "financial self-care"?</h2> <script async="" src="//www.instagram.com/embed.js"></script><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CLCCYOAA6R8/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="13" style="background: rgb(255, 255, 255); border-radius: 3px; border: 0px; box-shadow: rgba(0, 0, 0, 0.5) 0px 0px 1px 0px, rgba(0, 0, 0, 0.15) 0px 1px 10px 0px; margin: 1px; max-width: 540px; min-width: 326px; padding: 0px; width: calc(100% - 2px);"><div style="padding: 16px;"> <a href="https://www.instagram.com/p/CLCCYOAA6R8/?utm_source=ig_embed&utm_campaign=loading" style="background: rgb(255, 255, 255); line-height: 0; padding: 0px; text-align: center; text-decoration: none; width: 100%;" target="_blank"> <div style="align-items: center; display: flex; flex-direction: row;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div></div></div><div style="padding: 19% 0px;"></div> <div style="display: block; height: 50px; margin: 0px auto 12px; width: 50px;"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns:xlink="https://www.w3.org/1999/xlink" xmlns="https://www.w3.org/2000/svg"><g fill-rule="evenodd" fill="none" stroke-width="1" stroke="none"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></div><div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;"> View this post on Instagram</div></div><div style="padding: 12.5% 0px;"></div> <div style="align-items: center; display: flex; flex-direction: row; margin-bottom: 14px;"><div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(0px) translateY(7px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12.5px; margin-left: 2px; margin-right: 14px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px;"></div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; transform: translateX(9px) translateY(-18px); width: 12.5px;"></div></div><div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"></div> <div style="border-bottom: 2px solid transparent; border-left: 6px solid rgb(244, 244, 244); border-top: 2px solid transparent; height: 0px; transform: translateX(16px) translateY(-4px) rotate(30deg); width: 0px;"></div></div><div style="margin-left: auto;"> <div style="border-right: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); transform: translateY(16px); width: 0px;"></div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; transform: translateY(-4px); width: 16px;"></div> <div style="border-left: 8px solid transparent; border-top: 8px solid rgb(244, 244, 244); height: 0px; transform: translateY(-4px) translateX(8px); width: 0px;"></div></div></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div></div></a><p style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0px; margin-top: 8px; overflow: hidden; padding: 8px 0px 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.instagram.com/p/CLCCYOAA6R8/?utm_source=ig_embed&utm_campaign=loading" style="color: #c9c8cd; font-family: Arial, sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" target="_blank">A post shared by eishstudentbudget™ (@eishstudentbudget)</a></p></div></blockquote><p>Financial self-care is "the act of attending to one's financial wellness, generally without professional consultation."</p><p><br /></p><p>See how I just changed some of the words to change the meaning? </p><p><br /></p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-pb0UN4iq6QM/YQ5lsOJkIGI/AAAAAAAABd0/IDbo5Ul7XawanG5ojMPjr8MFt059jlR7QCLcBGAsYHQ/s480/Thinking%2BGIF.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="264" data-original-width="480" height="220" src="https://1.bp.blogspot.com/-pb0UN4iq6QM/YQ5lsOJkIGI/AAAAAAAABd0/IDbo5Ul7XawanG5ojMPjr8MFt059jlR7QCLcBGAsYHQ/w400-h220/Thinking%2BGIF.gif" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Via <a href="https://giphy.com/channel/Identity" target="_blank">Identity </a>on <a href="https://giphy.com/gifs/culture--think-hmm-d3mlE7uhX8KFgEmY" target="_blank">GIPHY</a></td></tr></tbody></table><div style="text-align: justify;">Financial self-care is about taking care of your financial self. It involves making financial decisions that will improve your finances. Let's take a look at top seven different ways to practice financial self-care.</div><h2 style="text-align: left;"><span style="font-size: large;"><b>Top 7 Ways to Practice Financial Self-care</b></span></h2><h3 style="text-align: left;"><b>1. Create a budget</b></h3><div style="text-align: justify;">Creating a <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget </a>will help you identify your planned income and expenses. A budget can help you achieve your financial goals, and can guide you on what you can and can't spend money on. One key benefit of sticking to a <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget </a>is that it helps you track your expenses and minimise unnecessary spending.</div><h3 style="text-align: left;"><b>2. Track your expenses</b></h3><div style="text-align: justify;">An easy and quick way to track your expenses is to use the notes app on your phone. This can be done each time you make a purchase. Seeing that we're on our phones 24/7, it doesn't hurt to put it to good use. I write the day, date, and type the item purchased and the price at which it was bought. </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Another way to track your expenses (if you mostly use your card to pay) is to download your monthly bank statement and see how much you've spent. It can be really eye-opening because <i>everything </i>is there in black and white. You see which stores you frequent and certain repeat expenditures like fast-food delivery and monthly subscriptions. For some, using a good old-fashioned pen and paper does the trick.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">It helps to categorise your expenses to decide which ones are a <a href="https://eishstudentbudget.blogspot.com/2021/04/urgent-vs-important-personal-finance.html" target="_blank">priority </a>and which ones aren't important. By tracking your expenses, you're able to see where most of your money goes and what you need to cut back on, if necessary.</div><h3 style="text-align: left;"><b>3. Save money</b></h3><div>Saving money entails puting money aside for future use. You can do this by regularly saving a percentage of your income each month, saving any unexpected money you make, etc. Money saved up can be used for many reasons: to buy planned items, make a lump-sum investment or save towards an emergency fund.</div><h3 style="text-align: left;"><b>4. Build an emergency fund</b></h3><div style="text-align: justify;"><i>"Save your money and one day your money will save you." </i></div><div style="text-align: justify;"><i><br /></i></div><div style="text-align: justify;"><span style="font-family: inherit;">This is an oft-quoted phrase in the personal finance space, and for good reason! An <a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" target="_blank">emergency fund</a> <span style="background-color: white;">is money you have set aside in case of emergencies. It covers unexpected expenses and/or <a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" target="_blank">emergencies </a>you may face. These emergencies include medical expenses, major home repairs, car repairs, etc. It is usually recommended that one saves up to <a href="https://www.sanlam.co.za/personal/financialplanning/Pages/emergency-fund.aspx" target="_blank">three times their monthly expenses.</a> Having an emergency fund can help one avoid having to rely on debt in emergencies.</span></span></div><div style="text-align: justify;"><span style="font-family: inherit;"><span style="background-color: white;"><br /></span></span></div><div style="text-align: justify;"><span style="font-family: inherit;"><span style="background-color: white;">With <a href="https://businesstech.co.za/news/finance/507322/south-africans-are-spending-75-of-their-take-home-pay-on-debt/" target="_blank">"South Africans spending 75% of their take-home pay on debt"</a>, who wouldn't see the value in trying to build an emergency fund? </span></span></div><div><span style="font-family: inherit;"><span style="background-color: white;"><br /></span></span></div><div><span style="font-family: inherit;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-sNfPiHCpPm8/YRLrvfXCd-I/AAAAAAAABeE/aasxOQV3yn4C90CHpZLGZQowNosp8NeoQCLcBGAsYHQ/s480/when%2Byou%2Bget%2Ban%2Bunexpected%2Bbill%2Bgif%2Bgiphy.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="302" data-original-width="480" height="251" src="https://1.bp.blogspot.com/-sNfPiHCpPm8/YRLrvfXCd-I/AAAAAAAABeE/aasxOQV3yn4C90CHpZLGZQowNosp8NeoQCLcBGAsYHQ/w400-h251/when%2Byou%2Bget%2Ban%2Bunexpected%2Bbill%2Bgif%2Bgiphy.gif" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Via <a href="https://giphy.com/thefinancialgym/" target="_blank">Financial Gym</a> on <a href="https://media.giphy.com/media/1XvnU508yvh2tMdP9A/giphy.gif" target="_blank">GIPHY</a></td></tr></tbody></table></span></div><h3 style="text-align: left;"><span style="font-family: inherit;"><span style="background-color: white;"><b>5. Invest</b></span></span></h3><div style="text-align: justify;"><span style="font-family: inherit;"><span style="background-color: white;">Investing is putting money into financial assets with the expectation that you'll make a profit and the aim thereof is to build wealth. This is achieved in the long-term. There are different ways to invest. You can invest in asset classes such as shares, ETFs, unit trusts, cryptocurrency, property, etc.</span></span></div><h3 style="text-align: left;"><span style="font-family: inherit;"><span style="background-color: white;"><b>6. Get insurance</b></span></span></h3><div style="text-align: justify;"><span style="font-family: inherit;"><span style="background-color: white;">Insurance is a way to protect yourself against financial loss. It involves paying a monthly premium to your insurer who will indemnify you in the event of a specified (covered) loss.</span></span></div><div style="text-align: justify;"><span style="font-family: inherit;"><span style="background-color: white;"><br /></span></span></div><div style="text-align: justify;"><span style="font-family: inherit;"><span style="background-color: white;">There are different types of insurance available. Some of them are:</span></span></div><div style="text-align: justify;"><ul><li><span style="background-color: white;">Health insurance</span></li><li><span style="background-color: white;">Home insurance</span></li><li><span style="background-color: white;">Life insurance</span></li><li><span style="background-color: white;">Car insurance</span></li></ul></div><h3 style="text-align: left;"><span style="font-family: inherit;"><span style="background-color: white;"><b>7. Look at getting a financial planner or financial adviser</b></span></span></h3><div><span style="font-family: inherit;"><span style="background-color: white;"><a href="https://www.investopedia.com/articles/personal-finance/040215/financial-advisor-vs-financial-planner.asp" target="_blank">Investopedia.com</a> defines a financial planner as <i>"a professional who helps companies and individuals create a program to meet long-term financial goals". </i>A financial planner can be helpful when it comes to creating a financial plan to help you achieve certain financial goals. They consider life goals and events such as retirement, marriage, education, etc that affect one's finances. </span></span></div><h2 style="text-align: left;"><b><span style="font-size: large;">Wrap-up</span></b></h2><div><span style="background-color: white; text-align: justify;">Thank you for taking the time to read this blog post. I hope you enjoyed reading it as much as I did writing it. </span></div><div><span style="font-family: inherit;"><br /></span></div><div><span style="font-family: inherit;">Self-care is all the rage these days, and it is easy to see why. But there is one aspect of self-care that we tend to neglect — our finances. Hopefully, this blog post helped you learn the importance of practicing financial self-care. What do you think about financial self-care? Share your thoughts in the comments section below.</span></div><div><span style="font-family: inherit;"><br /></span></div><div><p style="background-color: white; text-align: justify;"><span style="font-family: inherit;">Till next time!</span></p><p style="background-color: white; text-align: justify;"><span style="font-family: inherit;"><br /></span></p><p style="background-color: white; text-align: justify;"><span style="font-family: inherit;">Take care,</span></p><div class="separator" style="background-color: white; clear: both; font-family: "Playfair Display"; font-size: 19px; text-align: center;"><a href="https://1.bp.blogspot.com/-N9d2mL1W3y8/YHSF_cBj3FI/AAAAAAAABZM/CR1jCIGol286GbYbZWKkwwRXMTRwxYaygCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="background: transparent; clear: left; color: #b7410e; cursor: pointer; float: left; margin-bottom: 1em; margin-right: 1em; text-decoration-line: none;"><span style="font-family: inherit;"><img alt="eishstudentbudget sign off signature, eishstudentbudget Top 7 Ways to Practice Financial Self-care" border="0" data-original-height="124" data-original-width="424" height="78" src="https://1.bp.blogspot.com/-N9d2mL1W3y8/YHSF_cBj3FI/AAAAAAAABZM/CR1jCIGol286GbYbZWKkwwRXMTRwxYaygCLcBGAsYHQ/w200-h78/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="border: 0px; 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font-family: "Playfair Display"; font-size: 19px; text-align: justify;"><br /></p><p style="background-color: white; font-family: "Playfair Display"; font-size: 19px; text-align: justify;"><br /></p><p style="background-color: white; font-family: "Playfair Display"; font-size: 19px; text-align: justify;"><br /></p><p style="background-color: white; font-family: "Playfair Display"; font-size: 19px; text-align: justify;"><br /></p><div style="background-color: white; font-family: "Playfair Display"; font-size: 19px;"><span style="font-family: inherit;"><hr style="box-sizing: content-box; height: 0px;" /></span><div style="font-family: "Times New Roman"; font-size: medium;"><span style="font-family: "Playfair Display";"><i>Disclaimer:</i></span></div><div style="font-family: "Times New Roman"; font-size: medium;"><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></i></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><i><br /></i></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><i>The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</i></span></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></i></div><div style="font-family: "Playfair Display"; line-height: 1.4;"><i><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></i></div></div></div></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0Johannesburg, South Africa-26.2041028 28.0473051-89.544141889468719 -112.57769490000003 37.135936289468717 168.67230510000002tag:blogger.com,1999:blog-3131452752612168104.post-53980279970626086192021-04-12T21:11:00.004+02:002021-11-17T10:45:49.125+02:00Urgent vs Important | Personal Finance Edition<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;">
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We've all been there: feeling like we've done so much, but not really
accomplishing much. This is a feeling many of us can resonate with.
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Well, I've been reading up on how to improve my productivity and I came across
the "Eisenhower Matrix."
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<h3 style="text-align: justify;">What is the Eisenhower Matrix?</h3>
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View this post on Instagram
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</blockquote>
<p style="text-align: justify;">
As you can see in the Instagram post above, the Eisenhower Matrix is "<span style="text-align: left;">a decision-making tool that helps you decide on and prioritize tasks by
urgency and importance, sorting out less urgent and important tasks which
you should either delegate or not do at all."(1)</span>
</p>
<p style="text-align: justify;">
<span style="text-align: left;">The Eisenhower Matrix is named after Dwight David Eisenhower. He was an
American army general and statesman. Furthermore, he was the 34th President
of the United States.(2) He used the Eisenhower Matrix to decide which tasks
he would focus on. This decision was based on matters of importance vs
urgency. </span>
</p>
<p style="text-align: left;">
The Eisenhower Matrix is also known as the "Urgent-Important Matrix."(3)
</p>
<h3 style="text-align: left;">Why is the Eisenhower Matrix Important?</h3>
<p style="text-align: justify;">
In this hyper-connected world we live in, we are bombarded by things that
constantly call for our attention. Notifications on our smartphones,
personalised ads as we mindlessly scroll through social media, the news, our
emails, etc. Literally everything begs for our attention. “Attention is the
new currency,” people say. How do we determine what we should focus on to
improve our productivity and make the best use of our time? That’s where the
Eisenhower Matrix comes into play.
</p>
<p style="text-align: justify;">
We can use the Eisenhower Matrix to identify tasks that:
</p>
<p style="text-align: justify;"></p>
<ul>
<li>Should be done first (Quadrant 1);</li>
<li>We should schedule (Quadrant 2);</li>
<li>We should delegate (Quadrant 3); and </li>
<li>We should not do (Quadrant 4).</li>
</ul>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-dDlhhRjgUYc/YG3EJw-EM2I/AAAAAAAABYc/LG7NuEoplDAyOyUMuARX_omojD5JYZLQACLcBGAsYHQ/s1080/64038439-0B67-43CE-A9BB-6FD2FAC5B8A9.png" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="1080" data-original-width="1080" height="400" src="https://1.bp.blogspot.com/-dDlhhRjgUYc/YG3EJw-EM2I/AAAAAAAABYc/LG7NuEoplDAyOyUMuARX_omojD5JYZLQACLcBGAsYHQ/w400-h400/64038439-0B67-43CE-A9BB-6FD2FAC5B8A9.png" width="400" /></a>
</div>
<p style="clear: both; text-align: justify;">
As can be seen in the matrix above, the tasks we should <i>"do first"</i> are
both urgent and important. The tasks we shouldn't concern ourselves too much
with are less urgent and less important. These are the tasks we "<i>shouldn't do." </i>In between these two types of tasks, we have the tasks that are less urgent,
but important. These are the tasks we should <i>"schedule." </i>Lastly, we
have tasks that are urgent, but less important. We should consider
<i>"delegating" </i>these tasks.
</p>
<p style="clear: both; text-align: justify;">
According to the Eisenhower Matrix, urgent tasks are tasks that usually have
an immediate deadline, whereas important tasks do not necessarily have an
immediate deadline. Urgent tasks rarely contribute to you achieving a
long-term objective or goal. Conversely, important tasks usually contribute to
you achieving a long term objective or goal.
</p>
<div></div>
<p></p>
<h3 style="text-align: justify;">
How Does the Eisenhower Matrix Relate to Our Personal Finances?
</h3>
<p style="text-align: justify;">
The Eisenhower Matrix can improve our decision-making when it comes to our
spending. We can also use it to decide which financial decisions must be
prioritised.
</p>
<p style="text-align: justify;">
Let's take a look at four different <i>financial </i>tasks that fall within
different quadrants of the Eisenhower Matrix.
</p>
<h4 style="text-align: justify;">Urgent and Important</h4>
<p style="text-align: justify;">
Having to buy textbooks for your lectures that begin within the next few days
is both urgent and important. It is urgent, because you have a short window of
time to purchase the textbooks and pre-read them before lectures. It's also
important, because reading your textbooks and doing the examples within them
is crucial to your academic success. It helps to buy the textbooks as soon as
you can. Use that money for the textbooks; don't spend it frivolously. After
having purchased the books, you can dedicate yourself to diligently reading
them.
</p>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;">
<tbody>
<tr>
<td style="text-align: center;">
<a href="https://1.bp.blogspot.com/-ecsWxSGjsnw/YHRnAZT_LlI/AAAAAAAABY0/LQcUH3Wxz4AXQvGihJ-67Q96OedLfzmNQCLcBGAsYHQ/s480/you%2Bbetter%2Bbe%2Bdedicated%2Bgiphy.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="261" data-original-width="480" src="https://1.bp.blogspot.com/-ecsWxSGjsnw/YHRnAZT_LlI/AAAAAAAABY0/LQcUH3Wxz4AXQvGihJ-67Q96OedLfzmNQCLcBGAsYHQ/s16000/you%2Bbetter%2Bbe%2Bdedicated%2Bgiphy.gif" /></a>
</td>
</tr>
<tr>
<td class="tr-caption" style="text-align: center;">
Source:
<a href="http://www.tonyawards.com" rel="nofollow" target="_blank">Tony Awards</a>
on
<a href="<iframe src="https://giphy.com/embed/RkR6yjXV8a90E2agl0" width="480" height="261" frameBorder="0" class="giphy-embed" allowFullScreen></iframe><p><a href="https://giphy.com/gifs/tonyawards-red-carpet-tony-awards-2019-RkR6yjXV8a90E2agl0">via GIPHY</a></p>" rel="nofollow" target="_blank">GIPHY</a>
</td>
</tr>
</tbody>
</table>
<p style="text-align: justify;">
Besides getting all your textbooks when starting a new academic year at
university, you need to also buy stationery. This is important, but less
urgent as you'll usually have stationery left over from your last year of high
school or the previous tertiary academic year. Students usually sort this out
after the first week of university, if they haven't gotten all their materials
beforehand. You need to buy stationery to write notes, create flashcards, etc.
This purchase is usually <i>scheduled </i>to take place when
students have a bit more free time — over the weekend.</p>
<p style="text-align: justify;">
Another example would be picking up your laptop from IT when you've just
started a new job. You'll be required to provide your details to them (email
address, cell phone number, etc) and choose a password before you are provided with a company laptop. You need the laptop to do your job and it's important
to get your laptop sorted out within your first few days of starting the new
job.
</p>
<h4 style="text-align: justify;">Less Urgent and Important</h4>
<p style="text-align: justify;">
A task that does not seem to require your immediate action, but is incredibly
important is setting up an
<a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" rel="nofollow" target="_blank">emergency fund</a>. It's not urgent when you're not facing a financial crisis, but it is
everything when in one. Unexpected medical costs, home repairs, and helping
out relatives are some events that require the buffer of an
<a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" target="_blank">emergency fund</a>. Regularly contributing towards an emergency fund may not seem like
something you need to be getting started with ASAP, but it is vitally
important. Not only can having an emergency fund help you in times of
financial distress, it can help lessen the financial pressure.
</p>
<h4 style="text-align: justify;">Urgent and Less Important</h4>
<p style="text-align: justify;">
Examples of urgent but less important tasks are meetings and events. People
tend to complain about meetings taking too much of their time and not
accomplishing much. While this is
<a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiQqMSQivnvAhU8QkEAHbTYDiAQFjAKegQIFBAD&url=https%3A%2F%2Fhbr.org%2F2017%2F07%2Fstop-the-meeting-madness&usg=AOvVaw38SPTvdCIipw0YWUDAkfRW" rel="nofollow" target="_blank">often true</a>, what some people fail to realise is that they can decide to book a
conference room (pre-covid) to get work done quietly. A more current option
(due to remote work) would be to block out time in your work calendar and mark
it as <i>"Busy." </i>This is so your co-workers know that you aren't available
to join meetings. You can even send out an email to your team sharing the
times you'll be available.
</p>
<p style="text-align: justify;">
Campus activations and events are another time suck. Oxford Languages defines
a "time suck" as "an inefficient or unproductive activity, process, etc." and
"a waste of time." <br />
</p>
<p style="text-align: justify;">
You may finding yourself enticed by the freebies and sales pitches by campus
activators and decide to wait in line to get a freebie or sign up for a
service, club or membership. Kindly note that the novelty of getting a freebie
wears off when you realise there's a bill you have to pay every month or so.
<i>Yikes!</i>
</p>
<p style="text-align: justify;">
These tasks are urgent because you don't know when the activation team will be
back on campus again, so it's time-sensitive. On the other hand, campus
activations and events are not important because they take away time from
achieving your main objective at university — passing and graduating.
</p>
<p style="text-align: justify;">
You can choose to <i>delegate </i>this task by splitting up with your friends
and each visiting different stalls to get freebies for the others. This way,
you save time and get more freebies!
</p>
<p style="text-align: justify;">
<i>P.S. If there's a free trial to the service, club or membership you've
joined, don't forget to cancel the your subscription before the billing
date. That way you're really getting stuff for free!</i>
</p>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;">
<tbody>
<tr>
<td style="text-align: center;">
<a href="https://1.bp.blogspot.com/-RF799q0lOaM/YHR8-j4GBmI/AAAAAAAABZE/RSy7FTTFx2oDeEVk39eSQb3nI5_CVQosgCLcBGAsYHQ/s480/free%2Bdiff%2Bsize%2Bmaybe.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="360" data-original-width="480" height="300" src="https://1.bp.blogspot.com/-RF799q0lOaM/YHR8-j4GBmI/AAAAAAAABZE/RSy7FTTFx2oDeEVk39eSQb3nI5_CVQosgCLcBGAsYHQ/w400-h300/free%2Bdiff%2Bsize%2Bmaybe.gif" width="400" /></a>
</td>
</tr>
<tr>
<td class="tr-caption" style="text-align: center;">
Source:
<a href="http://nicksplat.com" rel="nofollow" target="_blank">Hey Arnold</a>
on
<a href="https://media.giphy.com/media/3o6nUW9tNEEdNM8Rq0/giphy.gif" rel="nofollow" target="_blank">GIPHY</a>
</td>
</tr>
</tbody>
</table>
<h4 style="text-align: justify;">Less Urgent and Less Important</h4>
<p style="text-align: justify;">
Tasks that fall within this final category are those that don't contribute to
you achieving a long-term objective or goal.
</p>
<p style="text-align: justify;">
A classic example of this is scrolling through social media and mindlessly
scrolling the web. Not only do these activities waste time, but they can be
costly. Apps like Instagram
<a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjD95fUq_nvAhUMZMAKHWa-BI4QFjAQegQIFxAD&url=https%3A%2F%2Fwww.cnet.com%2Fhow-to%2Fapps-that-use-the-most-data%2F&usg=AOvVaw1uPItURtaTXUWaQOtW494a" target="_blank">consume a lot of data</a>
and depending on where you live, data can be quite expensive. Data costs are so
high in South Africa that there's an online petition called
<a href="https://awethu.amandla.mobi/petitions/bring-the-cost-of-data-down" rel="nofollow" target="_blank">#DataMustFall</a>. It has even been reported that data prices in South Africa are
<a href="https://www.businessinsider.co.za/how-sas-data-prices-compare-with-the-rest-of-the-world-2020-5#:~:text=South%20Africa%20ranks%20at%20148,t%20afford%20bulk%20data%20packages." rel="nofollow" target="_blank">among the highest in Africa.</a> Unless you have uncapped fibre or can use free public WiFi, spending
more time on social media will cost you more.
</p>
<h3 style="text-align: justify;">Wrap up</h3>
<p style="text-align: justify;">
<span style="font-family: inherit;">Thank you for taking the time to read this blog post. I hope you enjoyed
reading it as much as I did writing it. </span>
</p>
<p style="text-align: justify;">
<span style="font-family: inherit;">What do you think of the Eisenhower Matrix? Is this the first time you've
heard about it? Share your thoughts in the comments section below.</span>
</p>
<p style="text-align: justify;">
<span style="font-family: inherit;">Till next time!</span>
</p>
<p style="text-align: justify;">
<span style="font-family: inherit;">Take care,</span>
</p>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-N9d2mL1W3y8/YHSF_cBj3FI/AAAAAAAABZM/CR1jCIGol286GbYbZWKkwwRXMTRwxYaygCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: inherit;"><img border="0" data-original-height="124" data-original-width="424" height="59" src="https://1.bp.blogspot.com/-N9d2mL1W3y8/YHSF_cBj3FI/AAAAAAAABZM/CR1jCIGol286GbYbZWKkwwRXMTRwxYaygCLcBGAsYHQ/w200-h59/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="200" /></span></a>
</div>
<p style="text-align: justify;">
<span style="font-family: inherit;"><br /></span>
</p>
<div style="text-align: left;">
<span style="font-family: inherit;"><br /></span>
</div>
<div style="text-align: left;">
<span style="font-family: inherit;"><br /></span>
</div>
<div style="text-align: left;">
<span style="font-family: inherit;"><br /></span>
</div>
<div style="text-align: left;">
<span style="font-family: inherit;">
<hr /></span><div><span style="background-color: white; font-family: "Playfair Display";">Disclaimer:</span></div><div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;">The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></div></div></div>
<p style="text-align: justify;">
<span style="font-family: inherit;">List of sources consulted:</span>
</p>
<div style="text-align: left;">
<span style="font-family: inherit;">1. Eisenhower.me. [Sa]. <i>Introducing the Eisenhower Matrix</i>.
[O].<br />Available: www.eisenhower.me/eisenhower-matrix/<br />Accessed on
2021/04/10</span>
</div>
<div style="text-align: left;">
<span style="font-family: inherit;"><br /></span>
</div>
<div style="text-align: left;">
<span style="font-family: inherit;">2. Luxafor.com. [Sa].
<i>The Eisenhower Matrix: Time and Task Management Made Simple. </i>[O].<br />Available: https://luxafor.com/the-eisenhower-matrix/<br />Accessed
on 2021/04/10</span>
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<div style="text-align: left;">
<span style="font-family: inherit;"><br /></span>
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<div style="text-align: left;">
<span style="font-family: inherit;">3. Eisenhower.me. [Sa]. <i>Introducing the Eisenhower Matrix</i>.
[O]. </span>
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<div style="text-align: left;">
<span style="font-family: inherit;">Available: www.eisenhower.me/eisenhower-matrix/</span>
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<span style="font-family: inherit;">Accessed on 2021/04/10</span><script async="" src="//www.instagram.com/embed.js"></script>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0Johannesburg, South Africa-26.2041028 28.0473051-26.2043434552917 28.04703687909851 -26.203862144708303 28.047573320901488tag:blogger.com,1999:blog-3131452752612168104.post-66341968516248060962021-02-13T22:01:00.006+02:002021-11-17T10:46:12.540+02:005 Affordable Valentine's Day Ideas | Love Languages Edition<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-qMwhEYuTfKs/YCh5nbAiAmI/AAAAAAAABV4/EnIeqCTOhqMzIGImX0Rah1iBeMhSnybqgCLcBGAsYHQ/s2048/8749085D-739A-487B-897A-0C67B8220D39.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" src="https://1.bp.blogspot.com/-qMwhEYuTfKs/YCh5nbAiAmI/AAAAAAAABV4/EnIeqCTOhqMzIGImX0Rah1iBeMhSnybqgCLcBGAsYHQ/s16000/8749085D-739A-487B-897A-0C67B8220D39.png" /></a></div><p style="clear: both; text-align: justify;">COVID-19 affected the way we live, work, and play. Therefore, we had to celebrate special occasions a bit differently. Valentine's Day is no different. Seeing that this is the case, we are presented with the opportunity to celebrate the holiday using a bit of creativity and ingenuity. A fun and creative way to celebrate the month of love would be to incorporate the <i>5 Love Languages </i>into doing so.</p><h3 style="clear: both; text-align: justify;">What are the 5 Love Languages?</h3><p style="text-align: left;"><i>The 5 Love Languages: How to Express Heartfelt Commitment to Your Mate </i>(most commonly referred to as <i>The 5 Love Languages) </i>is a book by Dr. Gary Chapman that looks at how to best express your love and appreciation for your lover based on their love language.</p><p style="text-align: left;">The <i>5 Love Languages</i> are:</p><p style="text-align: left;"></p><ol style="text-align: left;"><li>Words of Affirmation</li><li>Gifts</li><li>Acts of Service</li><li>Quality Time</li><li>Physical Touch</li></ol><p></p><p style="text-align: left;">Let's take a look at 5 Affordable Valentine's Day Ideas based on the <i>5 Love Languages.</i></p><h4 style="text-align: left;">Words of Affirmation</h4><p style="text-align: left;">Words of affirmation involves the use of verbal communication to express how much you care or feel about a person. Examples include saying, "Thank you for cleaning up the kitchen last night. I really appreciate it." </p><p style="text-align: left;">You can express your care and appreciation for your partner in different ways. This can be done by congratulating, or affirming your partner. The example stated above is a verbal expression of thanks.</p><p style="text-align: left;">Cost: Free. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-F82HEzYEVDg/YCgr1wtNCgI/AAAAAAAABUw/c5OD5keER6cP0UIUwggizA07aDH-YklzQCLcBGAsYHQ/s500/proud.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="213" data-original-width="500" src="https://1.bp.blogspot.com/-F82HEzYEVDg/YCgr1wtNCgI/AAAAAAAABUw/c5OD5keER6cP0UIUwggizA07aDH-YklzQCLcBGAsYHQ/s320/proud.gif" width="320" /></a></div><h4 style="text-align: left;">Gifts</h4><p style="text-align: left;">This love language involves the expression of love and affection towards one's partner via gift-giving. These gifts can be tangible (physical items you can see and touch) or intangible (something you cannot see and touch). An example of a tangible gift is presenting a card to your lover on Valentine's Day, whereas an example of an intangible gift is buying them an affordable ETF (exchange traded fund).</p><p style="text-align: left;">You can give your lover a gift that makes them feel loved, seen, and appreciated. Another example of a gift is gifting your partner a fully-paid online course they've been eyeing for a while. Online courses are quite affordable and massive open online course (MOOCs) providers usually run sales on their courses.</p><p style="text-align: left;">Cost: Varies. </p><p style="text-align: left;">Tip: If you're planning on buying your partner a gift that is affordable, consider setting a <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget</a>. You can set an amount beyond which you are unwilling to spend. This will help you rein in your spending. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-CXQwU2pSqB4/YCgrHTSZ_4I/AAAAAAAABUk/hRv3Bi6DdsMywvKQ7oDPPh86kmx9PqzPACLcBGAsYHQ/s500/Hey%2BI%2Bgot%2Byou%2Ba%2Bpresent.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="288" data-original-width="500" src="https://1.bp.blogspot.com/-CXQwU2pSqB4/YCgrHTSZ_4I/AAAAAAAABUk/hRv3Bi6DdsMywvKQ7oDPPh86kmx9PqzPACLcBGAsYHQ/s320/Hey%2BI%2Bgot%2Byou%2Ba%2Bpresent.gif" width="320" /></a></div><h4 style="text-align: left;">Acts of Service</h4><p style="text-align: left;">Acts of service involve "doing something that is kind or helpful for your partner." (1) This means doing something for your partner that could solve a particular problem for them.</p><p style="text-align: left;">This could be running a few errands for your partner who is incredibly busy meeting work deadlines at the moment. You have to be in tune with your partner and know them really well to do this.</p><p style="text-align: left;">Cost: Usually free, however the cost of fuel (to drive around) or energy (physical exertion) cannot be ignored. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-7CMXbSZPBYA/YCgqtii2AXI/AAAAAAAABUc/5Smy4H8wqZw5YXRPczDUCPtH-Ry47Hm4QCLcBGAsYHQ/s480/help_large.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="240" data-original-width="480" src="https://1.bp.blogspot.com/-7CMXbSZPBYA/YCgqtii2AXI/AAAAAAAABUc/5Smy4H8wqZw5YXRPczDUCPtH-Ry47Hm4QCLcBGAsYHQ/s320/help_large.gif" width="320" /></a></div><h4 style="text-align: left;">Quality Time</h4><p style="text-align: left;">Spending quality time with your partner means doing something you both like together, without any distractions. Examples include spending time at the museum together, seeing a play, or walking the dog. Just make sure you adhere to the COVID-19 regulations in your area when doing so.</p><p style="text-align: left;">You can spend quality time with your partner by regularly communicating with and carving out time to spend with them. This can be done via one-on-one conversations, Google calendar, etc. </p><p style="text-align: left;">Cost: Usually free, but if it involves an activity it may come at a fee. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-XxnKFRjKMZ0/YCgpnzQuNfI/AAAAAAAABUQ/JXMFLLT6QpAfvqfwJxLTbeu7y47JxBNaQCLcBGAsYHQ/s480/let%2Bme%2Bcheck%2Bmy%2Bschedule%2Bgiphy.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="366" data-original-width="480" src="https://1.bp.blogspot.com/-XxnKFRjKMZ0/YCgpnzQuNfI/AAAAAAAABUQ/JXMFLLT6QpAfvqfwJxLTbeu7y47JxBNaQCLcBGAsYHQ/s320/let%2Bme%2Bcheck%2Bmy%2Bschedule%2Bgiphy.gif" width="320" /></a></div><h4 style="text-align: left;">Physical Touch</h4><p style="text-align: left;">Physical touch involves expressions of love by touch. This can be expressed via hugs, hand-holding, kisses, and more. The great thing about physical touch? It's absolutely free!</p><p style="text-align: left;"><br />Cost: Free</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-LrEOKZ7bvA8/YCgs4fE56wI/AAAAAAAABVI/aLUL-o5fajU6XsZwvt5RzjSG0CxYeJ1fQCLcBGAsYHQ/s498/phys%2Bgif.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="209" data-original-width="498" src="https://1.bp.blogspot.com/-LrEOKZ7bvA8/YCgs4fE56wI/AAAAAAAABVI/aLUL-o5fajU6XsZwvt5RzjSG0CxYeJ1fQCLcBGAsYHQ/s320/phys%2Bgif.gif" width="320" /></a></div><h3 style="text-align: left;">Closing</h3><p style="text-align: left;">If you've been looking for a creative yet affordable way to celebrate your partner this Valentine's Day, think about incorporating the <i>5 Love Languages </i>while doing so. It will be a new experience for you (if you haven't done it before) and it will show your partner that you pay attention their needs.</p><p style="text-align: justify;">Thank you for taking the time to read this blog post. I hope you enjoyed reading it as much as I did writing it.</p><p style="text-align: justify;">Take care,</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-oeIpvMELpQ8/YCgnK7cshoI/AAAAAAAABT0/ARP0FTIOIpQnT3tLXTeUrWa80T_ieCrxQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: left;"><img border="0" data-original-height="124" data-original-width="424" height="59" src="https://1.bp.blogspot.com/-oeIpvMELpQ8/YCgnK7cshoI/AAAAAAAABT0/ARP0FTIOIpQnT3tLXTeUrWa80T_ieCrxQCLcBGAsYHQ/w200-h59/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="200" /></a></div><br /><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><br /></p><p style="text-align: left;">__________<br /><br /></p><p style="text-align: left;"><u>List of sources consulted:</u></p><div style="font-family: "YACgEXGeOnk 0", _fb_, auto; font-size: 13.571px; line-height: 1.4; text-align: left;"><span>1. </span><span class="JsGRdQ" style="font-family: "YACgEXGeOnk 0", _fb_, auto; font-size: 13.571px; text-align: center;">Earley, B. 2019. </span><span class="JsGRdQ" style="font-family: "YACgEXGeOnk 0", _fb_, auto; font-size: 13.571px; font-style: italic; text-align: center;">The 5 Love Languages, Explained.<br /></span><span class="JsGRdQ">[O]. Available: https://www.oprahmag.com/life/relationships-love/a28084004/five-love-languages-summary/ </span><span style="font-size: 13.571px; text-align: center;">Accessed on 2021/02/12</span></div><div style="font-family: "YACgEXGeOnk 0", _fb_, auto; font-size: 13.571px; line-height: 1.4; text-align: left;"><br /></div><div style="font-family: "YACgEXGeOnk 0", _fb_, auto; font-size: 13.571px; line-height: 1.4; text-align: left;"><h4 style="font-family: "Times New Roman"; font-size: medium; text-align: justify;"><div style="font-weight: 400; text-align: left;"><span style="background-color: white; font-family: "Playfair Display";">Disclaimer:</span></div><div style="font-weight: 400; text-align: left;"><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;">The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></div></div></h4></div></div><p></p>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com2tag:blogger.com,1999:blog-3131452752612168104.post-56985226566239366722021-01-23T23:56:00.051+02:002021-11-17T10:47:11.640+02:00Credit Utilization Ratio | The Basics<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-HFJre9zgDYU/YCh_EEKka6I/AAAAAAAABWk/LUoyLMuQX5AGhaJ623GnTMU5KCP8eGr5gCLcBGAsYHQ/s2048/DE39C271-BDD6-4F61-8E12-C57A24506197.webp" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1152" data-original-width="2048" src="https://1.bp.blogspot.com/-HFJre9zgDYU/YCh_EEKka6I/AAAAAAAABWk/LUoyLMuQX5AGhaJ623GnTMU5KCP8eGr5gCLcBGAsYHQ/s16000/DE39C271-BDD6-4F61-8E12-C57A24506197.webp" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: Avery Evans via <a href="https://unsplash.com/photos/RJQE64NmC_o" target="_blank">Unsplash</a> </td></tr></tbody></table><div class="separator" style="clear: both; text-align: center;"><br /></div><p style="clear: both; text-align: justify;">Our <a href="https://eishstudentbudget.blogspot.com/2021/01/lets-talk-about-debt-baby-part-1-basics.html" target="_blank">last blog post </a>was a brief introduction to debt and focused on the debt-to-income ratio. We used Lebo's financial situation as an illustrative example. In this blog post we'll analyse and interpret his credit-utilisation ratio, but before we do so let's first understand what a credit utilisation ratio (CUR) is.</p><h3 style="clear: both; text-align: justify;">Credit Utilisation Ratio</h3><p style="text-align: justify;">A credit utilisation ratio shows how much (the percentage) of their available credit a debtor has used. </p><p style="text-align: justify;">It adds up your debt (balances on credit cards, store cards, etc) and divides it by the total credit limit. Debt is<i> <a href="https://eishstudentbudget.blogspot.com/2021/01/lets-talk-about-debt-baby-part-1-basics.html" target="_blank">the money you owe</a>.</i> Your total credit limit is <i>the total amount of credit made available to you by your creditors.</i> For example, you have an account with ABC Clothing. The total available credit they've made available to you is R10 000. You buy clothes worth R2 350 on account. Assuming you don't have any other debt or accounts, your total debt is R2 350 and your total credit limit is R10 000.</p><p style="text-align: justify;">The debt the credit utilisation ratio takes into consideration is credit such as store accounts, credit cards, overdrafts, revolving loans, etc. Debt excluded from the credit utilisation ratio is home loans and vehicle finance.</p><p style="text-align: justify;">The credit utilisation ratio formula is as follows:</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-yzagUZpNq2g/YAyjraJ9VgI/AAAAAAAABRI/5n-l24wiGFg5lF5YCWRjEHkbQfPAjRFNACLcBGAsYHQ/s1599/Credit%2BUtilisation%2BRatio%2BFormula%2Bwith%2Bcredit%2Blimit%2Bcrop.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="291" data-original-width="1599" height="116" src="https://1.bp.blogspot.com/-yzagUZpNq2g/YAyjraJ9VgI/AAAAAAAABRI/5n-l24wiGFg5lF5YCWRjEHkbQfPAjRFNACLcBGAsYHQ/w640-h116/Credit%2BUtilisation%2BRatio%2BFormula%2Bwith%2Bcredit%2Blimit%2Bcrop.png" width="640" /></a></div><p style="clear: both; text-align: justify;">Let's continue with the illustrative example of Lebo's personal finances. Lebo has the following debt balances and credit limits:</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-aBiezb6rEh0/YAnyle6QUQI/AAAAAAAABPc/yTKnnMzYEdQbQ6qz4G6GLJnMWAk4gAbzQCLcBGAsYHQ/s1808/Lebo%2527s%2Btotal%2Bdebt%2Band%2Bcredit%2Blimit%2Blarger%2Bcrop.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="655" data-original-width="1808" height="232" src="https://1.bp.blogspot.com/-aBiezb6rEh0/YAnyle6QUQI/AAAAAAAABPc/yTKnnMzYEdQbQ6qz4G6GLJnMWAk4gAbzQCLcBGAsYHQ/w640-h232/Lebo%2527s%2Btotal%2Bdebt%2Band%2Bcredit%2Blimit%2Blarger%2Bcrop.png" width="640" /></a></div><p style="text-align: justify;">As can be seen above, Lebo's total debt balance is R8 750 and his total credit limit is R57 000. We're going to substitute these amounts into the credit utilisation ratio formula to calculate Lebo's credit utilisation ratio:</p>CUR %<span> </span><div><span>=</span> (R8 750/R57 000) * 100</div><div>= 0.154 * 100</div><div>= 15.4%<br /><p style="text-align: left;"><span><span>Lebo's credit utilisation ratio is 15.4%. This means that he has used 15.4% of the credit made available to him by his creditors. What does this mean? Is this good or bad? </span></span></p><h4 style="text-align: justify;"><span><span>Recommended credit utilisation ratio</span></span></h4><p style="text-align: justify;"><span>It is usually recommended that individuals have have a credit utilisation ratio less than 30%.(1) This is because it lets lenders and creditor know that you are a responsible borrower. In addition, it shows that you do not use up all the credit made available to you (you have credit available). </span></p><p style="text-align: justify;"><span>Lebo's credit utilisation ratio is 15.4%. This is within the recommended credit utilisation ratio of 30% or less. Furthermore, this means that Lebo still has credit of 84.6% (100% - 15.4%) available to him. This lets lenders know he is a responsible credit user. </span></p><p style="text-align: justify;"><span>From the above analysis, it can be said that Lebo's credit utilisation ratio is good. Lenders may view him as a borrower who does not overspend and manages his credit well. (2) </span></p><h4 style="text-align: justify;">Benefits of having a low Credit Utilisation Ratio</h4><p style="text-align: justify;">There are numerous benefits to having a low credit utilisation ratio, namely (3):</p><p style="text-align: justify;"></p><ul><li><span style="text-align: left;">Possibly improved credit score</span></li><li><span style="text-align: left;">Borrower has more credit available</span></li><li><span style="text-align: left;">Ability to access additional credit if needed</span></li></ul><p><u>Possibly improved credit score</u></p><p>If an individual has a low credit utilisation ratio, it may help them improve their credit score. This is because having a low credit utilisation ratio accounts for as much as 30% of a person's credit score. (4) By keeping one's credit score within the recommended limit of <30%, an individual can improve their credit score. </p><p>All other things being equal, Lebo's credit utilisation ratio of 15.4% (which is less than 30%) positively contributes towards his credit score. </p><p><u>Borrower has more credit available</u></p><p>Having more credit available can help the borrower in situations where they may need to make use of credit (in the event that one does not have <a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" rel="nofollow" target="_blank">emergency savings</a>). However, it is usually recommended that consumers build an emergency fund so they do not have to rely on debt when faced with an emergency. (5) </p><p>Lebo has used R8 750 of his credit limit (credit made available to him by creditors). This means that the credit he has available is R48 250 (R57 000 - R8 750). Should Lebo need to use the credit he has available—in lieu of <a href="https://eishstudentbudget.blogspot.com/2020/08/emergency-funds-basics.html" rel="nofollow" target="_blank">emergency funds</a> he may not have available—he can do so.</p><p><u>Ability to access additional credit if needed</u></p><p>If a consumer has a low credit utilisation ratio this means they are using less of their credit limit. Creditors may see this as the consumer managing their credit well by not using too much of it. The consumer thus looks responsible in the creditors' eyes. This behaviour of not using too much of the credit made available to the borrower can help the borrower improve their credit score. An improved credit score can help a consumer obtain additional credit if needed. This can be helpful with securing home loans, vehicle finance, etc.</p><p>Lebo has used only 15.4% of his credit limit. This is almost half the recommended credit utilisation ratio of 30%. His creditors may view him as managing his credit well because he does not overspend. Therefore, Lebo may be viewed as responsible in his creditors' eyes. This can result in Lebo's credit score improving. An improved credit score can help Lebo secure additional credit if needed. This an be helpful should Lebo want to obtain a home loan or vehicle finance in the future.</p><p>Please note that the credit utilisation ratio is <a href="https://eishstudentbudget.blogspot.com/2021/01/lets-talk-about-debt-baby-part-1-basics.html" target="_blank">not the only thing</a> a creditor looks at when deciding to provide finance to a borrower.</p><h4 style="text-align: justify;">How to improve one's credit utilisation ratio</h4><p style="text-align: justify;">Now that the benefits of having a low credit utilisation ratio have been discussed, let's look how one can improve their credit utilisation ratio.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-hoPM7EJNQK8/YAy3nc4iwGI/AAAAAAAABRk/C73eO7NXpAYDacOWUPsdPpGc0OIujvoPwCLcBGAsYHQ/s220/do%2Bbetter%2Bimprove%2Bblack-ish%2Bgif.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="123" data-original-width="220" height="224" src="https://1.bp.blogspot.com/-hoPM7EJNQK8/YAy3nc4iwGI/AAAAAAAABRk/C73eO7NXpAYDacOWUPsdPpGc0OIujvoPwCLcBGAsYHQ/w400-h224/do%2Bbetter%2Bimprove%2Bblack-ish%2Bgif.gif" width="400" /></a></div><p style="text-align: justify;">Consumers can do the following to improve their credit utilisation ratio (6):</p><ul><li>Opening a new credit account</li><li>Applying for a credit limit increase</li><li>Paying the balance of a credit account in full every month</li><li>Paying off the balance on an account and keeping the account open</li></ul><p style="text-align: justify;"><u>Opening a new credit account</u></p><p style="text-align: justify;">Opening a new credit account (and not using the credit on it) can help lower the borrower's credit utilisation ratio. This is due to the fact that the opening of a new credit account will lead to an increased credit limit while the total debt used has remained the same (remember the CUR formula?). However, the borrower should take care to ensure they do not open too many credit accounts in a short period of time because this can negatively affect their credit score in the short term. Furthermore, the borrower must exercise care when using the new credit account.</p><p style="text-align: justify;"><u>Applying for a credit limit increase</u></p><p style="text-align: justify;">The borrower can apply for a credit limit increase on one of their credit accounts (for example, a credit card). This can help lower the borrower's credit utilisation ratio if the borrower does not make use of the additional credit. This is because the credit limit (the denominator in the CUR formula) has increased, while the debt (the numerator in the CUR formula) has remained the same. </p><p><u>Paying off the balance on an account and keeping the account</u></p><p></p><p style="text-align: justify;">By paying off the balance on an account and keeping the account, the borrower has kept that account balance at nil while the credit limit remains what it was. This keeps the credit utilisation of that account to nil, which falls within the recommended less than 30% credit utilisation ratio.</p><p style="text-align: justify;">These tips, alone or in combination, can help a consumer lower their credit utilisation ratio. Moreover, they can help the consumer improve their credit score.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-6YfBYfkkzvs/YAyTiZrWS5I/AAAAAAAABQc/azurUTUUtzMu3-2hMsBuXpsedTmhHKtlwCLcBGAsYHQ/s356/I%2Blike%2Bthe%2Bsound%2Bof%2Bthat%2Bgif.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="200" data-original-width="356" height="225" src="https://1.bp.blogspot.com/-6YfBYfkkzvs/YAyTiZrWS5I/AAAAAAAABQc/azurUTUUtzMu3-2hMsBuXpsedTmhHKtlwCLcBGAsYHQ/w400-h225/I%2Blike%2Bthe%2Bsound%2Bof%2Bthat%2Bgif.gif" width="400" /></a></div><h3 style="text-align: left;">Closing</h3><p style="text-align: justify;">The credit utilisation ratio (CUR) is an important ratio that helps consumers know how much of their total credit limit they have used. The formula of the CUR was given, as well as the types of debt included and excluded therefrom. In addition, we looked at what the recommended credit utilisation ratio is and the benefits of having a low CUR. Lastly, various tips were given on how to lower one's credit utilisation ratio.</p><p style="text-align: justify;">Thank you for taking the time to read this blog post. I hope you enjoyed reading it as much as I did writing it.</p><p style="text-align: justify;">Take care,</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Gd6YoUgALuU/YAyd1AxH7cI/AAAAAAAABQ4/3QyOGO91aVEbcDw0c6pSr_4Sn2WrlxXTQCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="124" data-original-width="424" height="59" src="https://1.bp.blogspot.com/-Gd6YoUgALuU/YAyd1AxH7cI/AAAAAAAABQ4/3QyOGO91aVEbcDw0c6pSr_4Sn2WrlxXTQCLcBGAsYHQ/w200-h59/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="200" /></a></div><p style="text-align: justify;"><u><br /></u></p><p style="text-align: justify;"><u style="text-align: left;"><br /></u></p><p style="text-align: justify;"><u style="text-align: left;"><br /></u></p><p style="text-align: left;"><u> </u><u style="font-family: "YACgEVR7RtU 0", _fb_, auto;"> </u><u style="font-family: "YACgEVR7RtU 0", _fb_, auto;"> </u><u style="font-family: "YACgEVR7RtU 0", _fb_, auto;"> </u><u style="font-family: "YACgEVR7RtU 0", _fb_, auto;"> </u><u style="font-family: "YACgEVR7RtU 0", _fb_, auto;"> </u></p><p style="text-align: justify;"><u style="text-align: left;">List of sources consulted:</u></p><p style="text-align: justify;"><span style="text-align: left;">1. </span><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto; text-align: left;">Fiano, L. 2019. <i>Credit score myths that might be holding you back from improving your credit.</i> </span><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto; text-align: left;">[O].<i> </i></span><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto; text-align: left;">Available: </span></p><div style="text-align: left;"><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto;">https://www.consumerfinance.gov/about-us/blog/credit-score-myths-might-be-holding-you-back-improving-your-credit/</span><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto; font-style: italic;"> </span><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto;">Accessed 2021/01/23</span></div><div style="text-align: left;"><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto; font-size: 18.6667px;"> </span></div><div style="text-align: left;"><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto;">2. What is a Credit Utilisation Rate? [Sa]. [O]. Available: <br /></span><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto;">https://www.experian.com/blogs/ask-experian/credit-education/score-basics/credit-utilization-rate/ Accessed 2021/01/23</span></div><div style="text-align: left;"><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto;"><br /></span></div><div style="text-align: left;"><span class="JsGRdQ" style="font-family: "YACgEVR7RtU 0", _fb_, auto;">3. </span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">What is a Credit Utilisation Rate? [Sa].</span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;"> </span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">[O]. </span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">Available: <br /></span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">https://www.experian.com/blogs/ask-experian/credit-education/score-basics/credit-</span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">utilization-rate/ Accessed 2021/01/23</span></div><div style="text-align: left;"><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;"><br /></span></div><div style="text-align: left;"><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">4. What factors affect your credit score? 2020. <span><span>[O]. Available: <br /></span></span></span><span style="font-family: YACgEVR7RtU 0, _fb_, auto;">https://www.africanbank.co.za/en/home/blog-landing/credit-score-factors/Accessed<span> </span>2021/01/23</span></div><div style="text-align: left;"><span style="font-family: YACgEVR7RtU 0, _fb_, auto;"><br /></span></div><div style="text-align: left;"><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">5. The urgency of an emergency fund [Sa]. <span>[O]. </span></span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">Available: <br /></span><span style="font-family: YACgEVR7RtU 0, _fb_, auto;">https://www.life-force.co.za/the-urgency-of-an-emergency-fund/Accessed 2021/01/23</span></div><div style="text-align: left;"><span style="font-family: YACgEVR7RtU 0, _fb_, auto;"><br /></span></div><div style="text-align: left;"><span style="font-family: YACgEVR7RtU 0, _fb_, auto;">6. </span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">What is a Credit Utilisation Rate? [Sa]. </span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">[O]. </span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">Available: <br /></span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">https://www.experian.com/blogs/ask-experian/credit-education/score-</span><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;">basics/credit-utilization-rate/ Accessed 2021/01/23</span></div><div style="text-align: left;"><span style="font-family: "YACgEVR7RtU 0", _fb_, auto;"><h4 style="font-family: "Times New Roman"; text-align: justify;"><div style="font-weight: 400; text-align: left;"><span style="background-color: white; font-family: "Playfair Display";">Disclaimer:</span></div><div style="font-weight: 400; text-align: left;"><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><br /><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;">The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></div></div></h4></span></div></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com2tag:blogger.com,1999:blog-3131452752612168104.post-57509445155605011712021-01-08T04:01:00.013+02:002021-11-17T10:55:32.509+02:00Debt-to-income Ratio | The Basics<div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-I5lrJT6MYVw/YCiC-l6J1XI/AAAAAAAABXA/C2Re459AV_YWI-9ds2t4FeBdLKPOlX6twCLcBGAsYHQ/s2048/CCF650F1-1C86-4A87-926E-5E26F1CB077F.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" src="https://1.bp.blogspot.com/-I5lrJT6MYVw/YCiC-l6J1XI/AAAAAAAABXA/C2Re459AV_YWI-9ds2t4FeBdLKPOlX6twCLcBGAsYHQ/s16000/CCF650F1-1C86-4A87-926E-5E26F1CB077F.png" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><p style="clear: both; text-align: justify;">Debt is one of those things we <i>hate, </i>but can't seem to live without. We use debt to purchase our cars, homes, fund our studies, and in some cases, pay for food and clothing. These days people are using debt more and more to fund their lifestyles.</p><h3 style="text-align: left;">The dreaded D-word: Debt</h3><div>Depending on who you ask, debt has different meanings and elicits different responses. The Oxford Dictionary of English defines debt as "a sum of money that is owed or due." Debt is incurred when an individual receives something (usually cash) now and promises to pay it back at a later date. Paying back the amount borrowed usually involves paying interest as well.</div><div><br /></div><div>There are several things to consider when looking at debt:</div><div>• Interest</div><div>• Payment period</div><div>• Minimum instalment due</div><div>• Debt-to-income ratio before and after taking on debt</div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-1f_Q7OFC7Vg/YAmDakfYApI/AAAAAAAABNE/88a8oC_24dEVTQpevIgo_C37FqVhlCibgCLcBGAsYHQ/s1080/Things%2Bto%2Bconsider%2Bwhen%2Busing%2Bdebt.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1080" src="https://1.bp.blogspot.com/-1f_Q7OFC7Vg/YAmDakfYApI/AAAAAAAABNE/88a8oC_24dEVTQpevIgo_C37FqVhlCibgCLcBGAsYHQ/s16000/Things%2Bto%2Bconsider%2Bwhen%2Busing%2Bdebt.png" /></a></div><br /><div><br /></div><h4 style="text-align: left;">Interest</h4><div>Interest is the expense (or finance charge) for taking on debt. The interest is usually calculated based on the percentage of the loan. The borrower will have to repay the lender what they borrowed. In addition, the borrower will pay the lender more than what they borrowed. This excess is interest (excluding penalties and/or other costs). Interest is paid to compensate the lender for the risk of lending to the borrower. Furthermore, the interest the borrower pays is to compensate the lender for being unable to use the money they lent the borrower.</div><div><br /></div><h4 style="text-align: left;">Payment period</h4><div>The payment period stipulates how long the borrower has to pay off the amount due. A payment period starts from the time the borrower takes on the debt until they pay it off. Examples of payment periods include six months interest-free accounts and twelve months interest-bearing accounts. </div><div><br /></div><h4 style="text-align: left;">Minimum instalment due</h4><div>The minimum instalment due is the minimum amount the borrower has to pay at the agreed-upon payment date. The borrower will have to make this payment at each agreed-upon payment date until the debt is paid off. </div><div><br /></div><h4 style="text-align: left;">Debt-to-income ratio</h4><div>A person's debt-to-income ratio is the percentage of their income that goes towards paying for debt. It helps to look at one's debt-to-income ratio before taking on debt because it can help an individual assess whether they can afford to take on the debt. Calculating what one's debt-to-income ratio will look like <i>after </i>they take on the debt can help them see if they'll be overindebted after taking on the additional liability.</div><div><br /></div><div>We'll take a further look at the debt-to-income ratio and what it means to an individual's finances below.</div><h3 style="text-align: justify;"><b>Debt-to-income Ratio</b></h3><div style="text-align: justify;">A debt-to-income ratio is the comparison of an individual's monthly debt payments to their monthly gross income. </div><p></p><p style="clear: both; text-align: justify;">Therefore, it does not come as a surprise that <a href="https://tradingeconomics.com/south-africa/households-debt-to-income" target="_blank">"Households Debt in South Africa increased to 72.80 percent of gross income in 2019 from 71.90 percent in 2018."</a> (Trading Economics). This means that almost three quarters of South African households' gross income goes towards making monthly debt payments. </p><p style="clear: both; text-align: justify;">How does one calculate what percentage of their gross income goes towards making monthly debt payments? They calculate this by working out their debt-to-income ratio and multiplying it by 100.</p><h4 style="clear: both; text-align: justify;"><b><br /></b></h4><h4 style="clear: both; text-align: justify;"><b>Debt-to-income ratio formula</b></h4><p style="clear: both; text-align: justify;">An individual's debt-to-income ratio (DTI %) is calculated as follows:</p><p style="clear: both; text-align: justify;">DTI % = (Your Total Monthly Debt Payments) / (Monthly Gross Income) * 100</p><p style="clear: both; text-align: justify;">It is generally understood that <i><a href="https://creditreportsa.co.za/debt-to-income-ratio.php" rel="nofollow" target="_blank">the lower, the better</a> </i>when it comes to one's debt-to-income ratio.<i> </i>This is because consumers with a low debt-to-income ratio are <a href="https://www.investopedia.com/terms/d/dti.asp" rel="nofollow" target="_blank">attractive </a>and are perceived as less likely to fail at managing their monthly payments. The consumer in this instance is perceived to be a lower risk than a consumer with a higher debt-to-income ratio (all other things being equal). However, this is <a href="https://www.experian.com/blogs/ask-experian/what-is-debt-to-income-ratio-and-why-does-it-matter/" rel="nofollow" target="_blank">not the only factor</a> lenders look at when an individual applies to them for a loan.</p><p style="clear: both; text-align: justify;"> <a href="https://1.bp.blogspot.com/-EYZjIm3lVdQ/X_Oi0kziOVI/AAAAAAAABIs/m3B9d0I8yAIut_cDggU9wTfsg6MKrWzaACLcBGAsYHQ/s1599/Debt-to-Income%2BFormula%2B1600%2Bpx%2Bby%2B1%2B200%2Bpx%2BFormat%2B2.png" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img alt="The debt-to-income ratio formula." border="0" data-original-height="308" data-original-width="1599" height="125" src="https://1.bp.blogspot.com/-EYZjIm3lVdQ/X_Oi0kziOVI/AAAAAAAABIs/m3B9d0I8yAIut_cDggU9wTfsg6MKrWzaACLcBGAsYHQ/w640-h125/Debt-to-Income%2BFormula%2B1600%2Bpx%2Bby%2B1%2B200%2Bpx%2BFormat%2B2.png" title="An individual's debt-to-income ratio is calculated by adding up all their monthly debt payments and dividing it by their monthly gross income." width="640" /></a></p><div class="separator" style="clear: both; text-align: left;">Let's make use of an illustrative example.</div><div class="separator" style="clear: both; text-align: left;"><br /></div><div class="separator" style="clear: both; text-align: left;">Take Lebo, for instance. Lebo's monthly gross income is R20 000. His monthly debt payments* are as follows:</div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-oqv89BCS_8Y/X_Yr42bqcdI/AAAAAAAABLI/TrIxJVfjwSc4RS0phj1Lxs7PV8AgJrHGQCLcBGAsYHQ/s968/Lebo%2527s%2Bmonthly%2Bdebt%2Bpayments.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="533" data-original-width="968" src="https://1.bp.blogspot.com/-oqv89BCS_8Y/X_Yr42bqcdI/AAAAAAAABLI/TrIxJVfjwSc4RS0phj1Lxs7PV8AgJrHGQCLcBGAsYHQ/s320/Lebo%2527s%2Bmonthly%2Bdebt%2Bpayments.png" width="320" /></a></div><p style="clear: both; text-align: left;">Based on the information given above, Lebo's debt-to-income ratio can be calculated as follows:</p><p style="clear: both; text-align: left;">DTI % = (R13 500/R20 000) * 100<br /><span> </span><span> </span><span> = 0.675 * 100<br /></span><span><span> </span><span> </span><span> = 67.5%</span></span></p><p style="clear: both; text-align: left;"><span>This means that 67.5% of Lebo's monthly gross income goes towards paying his debts. That's just over two-thirds of his monthly gross income. <i>Yikes! </i></span></p><div class="separator" style="clear: both; text-align: left;"><span><i><br /></i></span></div><div class="separator" style="clear: both; text-align: left;"><span><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-YWAoRquZbZY/X_Tf8928trI/AAAAAAAABJI/P6lHzEGi-FE1HSKAJDuk0GR0coqqEar9ACLcBGAsYHQ/s350/Jay%2BZ%2Byikes%2Bgif.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="210" data-original-width="350" src="https://1.bp.blogspot.com/-YWAoRquZbZY/X_Tf8928trI/AAAAAAAABJI/P6lHzEGi-FE1HSKAJDuk0GR0coqqEar9ACLcBGAsYHQ/s320/Jay%2BZ%2Byikes%2Bgif.gif" width="320" /></a></div></span><p style="text-align: justify;"><i>*Please note that this is only an illustrative example, and as such does not necessarily reflect any individual's actual monthly debt payments and/or monthly gross income. </i></p><p style="text-align: justify;">So, how does one work out whether or not their debt-to-income ratio is good?</p></div><p style="clear: both; text-align: left;"></p><div style="text-align: justify;">TransUnion (a consumer credit reporting agency) <a href="https://www.transunion.co.za/archives-article/whats-the-state-of-your-credit" target="_blank">has the following ranges</a> against which it compares your debt-to-income ratio:</div><p></p><ul style="text-align: left;"><li>0 to 20% is considered <span style="background-color: #7ed957;">good</span></li></ul><ul style="text-align: left;"><li>21 to 40% is evaluated as <span style="background-color: #ffde59;">fair</span></li></ul><ul style="text-align: left;"><li>41 to 60% is seen to be at <span style="background-color: #ff9a3c;">risk</span></li></ul><ul style="text-align: left;"><li>60%+ can be considered <span style="background-color: red;">over extended</span></li></ul><p></p><div class="separator" style="clear: both; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-dQQQPMx7uU8/X_YR9_3McMI/AAAAAAAABJk/YAAZ1ATXj08kqEWVXeATPYMMMefNH5AzACLcBGAsYHQ/s1080/Debt-to-income%2BTransUnion%2BRanges.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1080" height="640" src="https://1.bp.blogspot.com/-dQQQPMx7uU8/X_YR9_3McMI/AAAAAAAABJk/YAAZ1ATXj08kqEWVXeATPYMMMefNH5AzACLcBGAsYHQ/w640-h640/Debt-to-income%2BTransUnion%2BRanges.png" width="640" /></a></div><p style="text-align: justify;">Based on the above, Lebo can be considered over extended (67.5% > 60%). This is because his debt-to-income ratio is within the 60%+ range.</p><h4 style="text-align: justify;"><br /></h4><h4 style="text-align: justify;">Overextended</h4><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-3ue17t8SHQg/X_e7aTbBFKI/AAAAAAAABLs/RmqN5x4oXTE8IADEvnS8L6F25z8MC9EKQCLcBGAsYHQ/s270/too%2Bheavy%2Bbricks.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="270" data-original-width="220" src="https://1.bp.blogspot.com/-3ue17t8SHQg/X_e7aTbBFKI/AAAAAAAABLs/RmqN5x4oXTE8IADEvnS8L6F25z8MC9EKQCLcBGAsYHQ/s0/too%2Bheavy%2Bbricks.gif" /></a></div><div><span style="text-align: justify;">An individual is considered to be overextended when they have more debt than they can pay. This can put a strain on a person's finances. Financial strain can have </span><a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwi1yPf4jovuAhVdSBUIHdBaChkQFjADegQICBAC&url=https%3A%2F%2Fwww.helpguide.org%2Farticles%2Fstress%2Fcoping-with-financial-stress.htm&usg=AOvVaw0YkDVVPKyskjKuk6ek5B94" rel="nofollow" style="text-align: justify;" target="_blank">negative mental, physical and social effects</a><span style="text-align: justify;">. Furthermore, being overextended poses a problem when one is faced with life emergencies such as unexpected medical bills, unemployment, and divorce.</span></div><p style="text-align: justify;">It can be said that Lebo is financially overextended and should consider ways to minimise his debt levels and increase his income in order to improve his debt-to-income ratio.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">Closing</h4><p style="text-align: justify;">This blog post took a look at what to consider when taking on debt and the debt-to-income ratio. Next week, we'll take a further look at Lebo's debt. I hope you enjoyed reading this blog post and learned about debt, particularly the debt-to-income ratio, and the effect this can have on one's finances.</p><p style="text-align: justify;">Take care,</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-LfcXKbNioN8/X_e8IXIRe9I/AAAAAAAABL0/l01ibloTpFUPaAGHIbgCfcUAHbfoIpvQgCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="124" data-original-width="424" height="59" src="https://1.bp.blogspot.com/-LfcXKbNioN8/X_e8IXIRe9I/AAAAAAAABL0/l01ibloTpFUPaAGHIbgCfcUAHbfoIpvQgCLcBGAsYHQ/w200-h59/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="200" /></a></div><br /><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><span style="background-color: white; font-family: "Playfair Display"; text-align: left;"><br /></span></p><p style="text-align: justify;"><span style="background-color: white; font-family: "Playfair Display"; text-align: left;">Disclaimer:</span></p><h4 style="text-align: justify;"><div style="font-weight: 400; text-align: left;"><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;">This blog post is for informational purposes only and does not constitute financial advice. </span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;">The information presented herein is not a substitute for and should never be relied upon for professional financial advice.</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;">Always talk to your financial advisor about the risks and benefits of any financial information shared. If you are looking for financial advice, kindly speak to somebody who is certified and registered with the Financial Sector Conduct Authority (FSCA).</span></div><div style="background-color: white; font-family: "Playfair Display"; line-height: 1.4;"><span class="JsGRdQ" style="font-family: inherit;"><br /></span><span class="JsGRdQ" style="font-family: inherit;"><span face="YALBszUSD-E 0, _fb_, auto">eishstudentbudget™ and its owner(s) are not liable for any loss, harm, or damage you may incur as a result of you using the information presented </span>here<span face="YALBszUSD-E 0, _fb_, auto">.</span></span></div></div></h4></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com2tag:blogger.com,1999:blog-3131452752612168104.post-7481814530597718212020-12-28T17:44:00.014+02:002023-01-14T19:39:05.888+02:003 Easy Ways to Avoid the Janu-Worry Blues<div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Vasi_bzMtGA/X-oCPoQsOWI/AAAAAAAABHs/Z19xgCZc-4IUlu5h-SuOnFKlVfYlvW6aACLcBGAsYHQ/s1200/How%2Bto%2Bavoid%2Bthe%2Bjanu-worry%2Bblue%2Bblog%2Bgraphic%2Bno%2Bquote.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1200" data-original-width="800" height="320" src="https://1.bp.blogspot.com/-Vasi_bzMtGA/X-oCPoQsOWI/AAAAAAAABHs/Z19xgCZc-4IUlu5h-SuOnFKlVfYlvW6aACLcBGAsYHQ/s320/How%2Bto%2Bavoid%2Bthe%2Bjanu-worry%2Bblue%2Bblog%2Bgraphic%2Bno%2Bquote.png" /></a></div><br /><p><span style="text-align: justify;">It's been quite an eventful year, to say the least. 2020 brought with it a pandemic that shook the very ground we're on. We have had to plan, adjust, and re-adjust <a href="https://www.eishstudentbudget.com/2020/04/budgeting-for-beginners.html" target="_blank">our budgets</a>. This year has taught us the importance of financial preparedness, which involves planning how to avoid the Janu-worry blues.</span></p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Part of financial preparedness is planning for seasons of drought where one expects money to be tight. One of these seasons is Janu-worry (January).</p><h2 style="text-align: justify;"><span style="font-size: large;">What Is "Janu-Worry?"</span></h2><p style="text-align: justify;">Janu-worry is another word for January. It's a combination of and play on the words "January" and "worry." January feels like the longest month because payday in January is so far from payday in December of the previous year.</p><h2 style="text-align: justify;"><span style="font-size: large;">Why?</span></h2><p style="text-align: justify;">Well, in December, South African workers are usually paid earlier (than the usual date) in the month. This December salary can include a bonus or a 13th cheque.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">This, together with the festive season, has consumers spending a lot more because they have more money at their disposal. Consumers tend to spend on gift buying, Christmas decorations, festive plans, settling debts and sending money to loved ones.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Although the <a href="https://www.who.int/emergencies/diseases/novel-coronavirus-2019" rel="nofollow" target="_blank">COVID-19 pandemic</a> has people spending less this festive season, all the festive spending can put pressure on consumers' finances. Due to all the festivities and the pressure on consumers' finances, some forget to budget for January's expenses/commitments and find themselves in financial trouble.</p><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><span face="-apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif" style="background-color: white; color: #262626; font-size: 14px; text-align: left;"><table cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-s_NpMjdDqtI/X-nsVpaMVKI/AAAAAAAABGI/dCfPbY8n7WQtT0U7SBNFU_BUtQTNAT6PQCLcBGAsYHQ/s1080/When%2Byou%2Bcheck%2Byour%2Bwallet%2Bafter%2B_enjoying_%2Bthe%2Bfestive%2Bseason.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1080" data-original-width="1080" height="320" src="https://1.bp.blogspot.com/-s_NpMjdDqtI/X-nsVpaMVKI/AAAAAAAABGI/dCfPbY8n7WQtT0U7SBNFU_BUtQTNAT6PQCLcBGAsYHQ/w320-h320/When%2Byou%2Bcheck%2Byour%2Bwallet%2Bafter%2B_enjoying_%2Bthe%2Bfestive%2Bseason.gif" title="Don't let Janu-worry catch you slipping!" width="320" /></a><br /><br /></td></tr><tr><td class="tr-caption" style="text-align: center;"><br /></td></tr></tbody></table></span><h2><span style="font-size: large;">How to Avoid Janu-Worry</span></h2><p><span>There are a few ways to prevent Janu-worry, and they all boil down to financial preparedness. <br /></span><span>Financial preparedness is defined as being prepared for events that can impact your finances. </span>This includes education, emergencies, marriage, birth, purchase of a new vehicle, ill health, etc.</p><p><span style="font-size: medium;"><br /></span><span>The following are tips to avoid falling into Janu-worry:</span></p><p><span>1. Making and sticking to a budget for and before Janu-worry<br /></span><span>2. Cutting out unnecessary expenses before Janu-worry<br /></span><span>3. Set money aside for Janu-worry expenses</span></p><h3><span style="font-size: large;">Making and Sticking to a Budget for and Before Janu-Worry</span></h3><p><span>A budget is a plan of your income and expenses for a specified period of time. Budgets act as a <a href="https://www.productplan.com/learn/roadmap-basics/" rel="nofollow" target="_blank">road map</a> – that you design </span><span>– to help you stay on course and achieve your goals. </span></p><h3><span style="font-size: large;">Cutting Out Unnecessary Expenses Before Janu-Worry</span></h3><p><span>This sounds so cliché because it is mentioned all the time! It can be annoying to hear — I understand. But it is repeated so often because it is true (and because it is not observed).</span><span><br /></span><span><br /></span></p><p><span>Those "small" expenses here and there add up, and before you know it, you're out of money for the rest of the month. </span></p><div><span style="font-size: large;"><br /></span></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-tTIzGofKpM8/X-n4Q8tnh8I/AAAAAAAABGs/-KpHc5Bqt2YbIyG3rEq4F-he_pFf2PcigCLcBGAsYHQ/s595/R50s%2Bhere%2Band%2Bthere.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="263" data-original-width="595" src="https://1.bp.blogspot.com/-tTIzGofKpM8/X-n4Q8tnh8I/AAAAAAAABGs/-KpHc5Bqt2YbIyG3rEq4F-he_pFf2PcigCLcBGAsYHQ/s320/R50s%2Bhere%2Band%2Bthere.png" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><i>Source: <a href="<blockquote class="twitter-tweet"><p lang="en" dir="ltr">It&#39;s not even R300&#39;s and R500&#39;s, the R50 here, R72 there, R19 here and there and boom, R3k gone <a href="https://t.co/2tuev8OWNe">https://t.co/2tuev8OWNe</a></p>&mdash; wannabeislandgyal (@saskeeyaahh) <a href="https://twitter.com/saskeeyaahh/status/1303041404084662275?ref_src=twsrc%5Etfw">September 7, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>" rel="nofollow" target="_blank">@saskeeyaahh</a> on Twitter</i></div><div><span style="font-size: large;"><br /></span></div><p><span><a href="https://www.eishstudentbudget.com/2021/09/how-expense-tracking-works.html" target="_blank">Tracking your spending</a> – no matter how "small" – can reveal a lot about your spending habits. When you track your spending, you can measure it, and this, in turn, helps to highlight what you need to cut back on.</span></p><h3><span style="font-size: large;">Set Money Aside for Janu-Worry Expenses</span></h3></div><p><span>In order to do this, you need to have an idea of what you usually spend in January. This includes expenses such as rent, water and electricity, car payments, textbooks, groceries, fuel, cell phone bills, etc. Try to include some funds on top of that to add some wiggle room.</span></p><p><span><br /></span></p><p><span>Setting money aside for January expenses helps you breathe easier. You'll be less stressed and may not even have to rely on asking for money from relatives and friends or using your credit card for those January expenses.</span></p><h2><span style="font-size: large;">Let's Wrap It Up</span></h2><div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-GPvTYYbLFvw/X-n5OryYflI/AAAAAAAABG0/lL-2xdfLJIY8STlyFg-6u_KdU-8Sho-UACLcBGAsYHQ/s640/wrap%2Bit%2Bup.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="360" data-original-width="640" src="https://1.bp.blogspot.com/-GPvTYYbLFvw/X-n5OryYflI/AAAAAAAABG0/lL-2xdfLJIY8STlyFg-6u_KdU-8Sho-UACLcBGAsYHQ/s320/wrap%2Bit%2Bup.gif" width="320" /></a></div><br /><span style="font-size: medium;"><br /></span></div><p><span>Janu-worry doesn't have to be something you need to deal with come January. Through careful planning, spending, and self-restraint, you can minimise or eliminate the Janu-worry blues. While you're at it, here are <a href="https://www.eishstudentbudget.com/2021/08/7-ways-to-practice-financial-self-care.html" target="_blank">ways to practice financial self-care</a>, so you don't struggle in Janu-worry.</span></p><p><span><br /></span></p><p><span>Take care, and thank you for taking the time to read this blog post! </span></p><div><br /></div><p>Warm regards,</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-qdbvrUkB2Es/X-n60TWN6ZI/AAAAAAAABHA/XiIa3HbLMgM16RFg6la7qdUDfRD41yoawCLcBGAsYHQ/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="124" data-original-width="424" src="https://1.bp.blogspot.com/-qdbvrUkB2Es/X-n60TWN6ZI/AAAAAAAABHA/XiIa3HbLMgM16RFg6la7qdUDfRD41yoawCLcBGAsYHQ/s320/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="320" /></a></div><br /><div><br /></div><div><br /></div><div><br /></div></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com6Johannesburg, South Africa-26.2041028 28.0473051-26.694420764039826 27.49798869375 -25.713784835960176 28.59662150625tag:blogger.com,1999:blog-3131452752612168104.post-63314540641993823392020-08-03T20:27:00.015+02:002021-04-28T10:11:45.227+02:00Emergency Funds | The Basics<div style="text-align: left;">An emergency fund is money you have set aside in case of emergencies. It covers unexpected expenses and/or emergencies you may face.</div><div style="text-align: left;"><br /></div><div style="text-align: left;"><br /></div><div style="text-align: center;"><a href="https://1.bp.blogspot.com/-pfxwQFWtvJ4/XvIWqRYLgCI/AAAAAAAAA5Q/o8w853YcHmQS0gQDTyPGmbmsf1AblJ_oACK4BGAsYHg/s1200/emergency%2Bfunds%2Bblogger%2Bgraphic.png"><img alt="Blog graphic of coins poured out of a glass jar laying on wooden flooring. Text saying, "The Basics. Emergency Funds" is on the image."By eishstudentbudget™. Photo by Josh Appel on Unsplash." border="0" data-original-height="1200" data-original-width="800" height="320" src="https://1.bp.blogspot.com/-pfxwQFWtvJ4/XvIWqRYLgCI/AAAAAAAAA5Q/o8w853YcHmQS0gQDTyPGmbmsf1AblJ_oACK4BGAsYHg/w213-h320/emergency%2Bfunds%2Bblogger%2Bgraphic.png" title="Emergency Funds | The Basics blog by eishstudentbudget™" width="213" /></a></div><div style="text-align: center;"><br /></div><h3 style="text-align: left;">Why it is important to have an emergency fund</h3><div>It is necessary to have an emergency fund because no one knows what the future holds, but we all know that emergencies can — and often do — occur. Having an emergency fund can help one pay for emergencies and unexpected expenses without having to borrow money. This includes borrowing money from friends, family, the bank, and loan sharks (<i>eek!</i>). In some cases, having an emergency fund can prevent one from having to liquidate their investments (e.g. sell their ETFs and shares). In severe cases, having an emergency fund can prevent one from having to withdraw funds from their retirement.</div><div><br /></div><h3 style="text-align: left;">Definition of an emergency fund</h3><div>According to Investopedia, an emergency fund is defined as<i> <a href="https://www.investopedia.com/terms/e/emergency_fund.asp#:~:text=An%20emergency%20fund%20is%20a,the%20coronavirus%20pandemic%20has%20created." target="_blank">"A readily available source of assets to help people navigate financial dilemmas, such as the loss of a job, a debilitating illness, a major repair to home or car — not to mention the kind of major national crisis the coronavirus pandemic has created."</a></i></div><div><i><br /></i></div><h3 style="text-align: left;">Purpose of an emergency fund</h3><div>Simply put, the purpose of an emergency fund is to improve one's financial security <a href="https://www.investopedia.com/terms/e/emergency_fund.asp#:~:text=An%20emergency%20fund%20is%20a,the%20coronavirus%20pandemic%20has%20created." target="_blank">"by creating a safety net of cash or other highly liquid assets that can be used to meet emergency expenses."</a></div><div><br /></div><h3 style="text-align: left;">What expenses an emergency fund can cover</h3><div>An emergency fund can cover any of the following expenses:</div><div><ul style="text-align: left;"><li><span>medical expenses</span></li><li><span><span>major home repairs</span></span></li><li><span><span><span>major car repairs</span></span></span></li><li><span><span><span><span>income for 3 – 6 months</span></span></span></span></li><li><span><span><span><span><span>anything you can think of</span></span></span></span></span></li></ul></div><div><br /></div><div>The thing is, an emergency fund can cover <i>anything </i>you deem an emergency expense. </div><div><br /></div><div>Someone who does not have a car will not have to pay for car repairs, but they will probably pay for <a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwi15ZjitPzpAhXBYMAKHSIwCwMQ0PADegQICRAH&url=https%3A%2F%2Fewn.co.za%2F2020%2F06%2F12%2Fsantaco-announces-taxi-fare-increase-of-between-10-and-25-nationwide&usg=AOvVaw3NV7Mz3J_pRbqH252fh_v5" target="_blank">unexpected increases in public transport fares.</a> </div><div><br /></div><div>As with a <a href="https://eishstudentbudget.blogspot.com/2020/04/budgeting-for-beginners.html" target="_blank">budget</a>, an individual's emergency fund will not necessarily be the same as the next person's. This means that emergency funds differ per person because our circumstances are different. The budget for my emergency fund is not a lot, because I do not have as many responsibilities as, say, a married father of three. </div><div><br /></div><div>What I can say for sure: is that not budgeting for an emergency fund can disadvantage you.</div><div><br /></div><div>A fellow student could not buy the prescribed [redacted] textbooks because she had to pay for a replacement of the battery of her car. I overheard this conversation she had with another student while waiting for our [redacted] tutorial to begin. This was in 2019.</div><div><br /></div><div><i>Kindly note: I was not eavesdropping. She said this loud enough that everyone in that tutorial venue could hear her. I was seated behind her and her friends and overheard this conversation. </i></div><div><i><br /></i></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Htai75FwFlw/XyLMYwYNFJI/AAAAAAAAA-E/MLWCnzgcGp4uToyneZ7fPr_YfNxg5zT5gCLcBGAsYHQ/s245/my-own-business.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="230" data-original-width="245" src="https://1.bp.blogspot.com/-Htai75FwFlw/XyLMYwYNFJI/AAAAAAAAA-E/MLWCnzgcGp4uToyneZ7fPr_YfNxg5zT5gCLcBGAsYHQ/s0/my-own-business.gif" /></a></div><i><br /></i></div><div><i><br /></i></div><div>When I look at the textbook list for [redacted], the prescribed textbooks cost approximately R1 689.</div><div><span><span><br /></span></span></div><div><span><span>I found it unfortunate that my peer could not afford to pay for both the battery of her car and her [redacted] prescribed textbooks. The library had those prescribed textbooks available, so it was not the end of the world. However, one of the textbooks has different laws and regulations in it that one has to refer to in tests and examinations. The nature of the course is such that it is beneficial to have that particular textbook on hand to use (i.e. highlight, flag and underline) when completing tutorials. </span></span></div><div><span><span><br /></span></span></div><div><span><span>That event reminded me how important it is to regularly save money and have an emergency fund. To be fair, I do not know her financial situation or her socio-economic background. Therefore, I think it would be rude to question why she didn't have extra money to replace her car's battery and buy her textbooks.</span></span></div><div><span><span><br /></span></span></div><div><span><span>I'm sharing this story to highlight the importance of having an emergency fund. </span></span></div><div><span><span><br /></span></span></div><div><span><span>Another anecdote would be the time I accidentally dropped someone's calculator, and the part where the batteries are housed broke off. It was one of those Casio scientific calculators like the one below.</span></span></div><div><span><span><br /></span></span></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-CXhEkDY0eMc/Xut5Bd1G38I/AAAAAAAAA4Q/IIB82LV4HqEHTcYybHvyxoQ7_U4RU-r3gCK4BGAsYHg/s566/casio-82za-1.jpg" style="margin-left: auto; margin-right: auto;"><img alt="Image of the Casio FX-82ZA Plus Scientific Calculator." border="0" data-original-height="566" data-original-width="566" height="320" src="https://1.bp.blogspot.com/-CXhEkDY0eMc/Xut5Bd1G38I/AAAAAAAAA4Q/IIB82LV4HqEHTcYybHvyxoQ7_U4RU-r3gCK4BGAsYHg/w320-h320/casio-82za-1.jpg" title="The Casio FX-82ZA Plus Scientific Calculator." width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Photo by <a href="https://www.calculatorshop.co.za/product/casio-fx82za-plus/" target="_blank">Calculator Shop</a></td></tr></tbody></table><div><span><span><br /></span></span></div><div><span><span>Because I had money in my emergency fund, I was able to buy a new calculator with no worries. The person whose calculator I damaged was using the calculator to prepare for exams. If I was not able to replace the calculator the person's studies could have been negatively affected. </span></span></div><div><span><span><br /></span></span></div><div><span><span>If I didn't have money in my emergency savings account, I may have had to borrow the money from somewhere. Who knows?</span></span></div><div><br /></div><div>It's not helpful not having an emergency fund. Failing to save or provide for emergencies can negatively impact one's finances. When an emergency does occur: </div><div><ul style="text-align: left;"><li><span>One may be tempted to get into debt; and</span></li><li><span><span>If one already has debt, it can increase the debt one has as they may borrow more (money).</span></span></li></ul></div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-aiNbIONA2x8/XvSnhMM59_I/AAAAAAAAA6M/ny7D6-jq_PoUSTOnsq2zqUaWm1zhHCCaQCK4BGAsYHg/s1920/How-to-save-while-paying-of-debt-GIF-1.gif" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="768" data-original-width="1920" src="https://1.bp.blogspot.com/-aiNbIONA2x8/XvSnhMM59_I/AAAAAAAAA6M/ny7D6-jq_PoUSTOnsq2zqUaWm1zhHCCaQCK4BGAsYHg/s320/How-to-save-while-paying-of-debt-GIF-1.gif" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: <a href="https://debtrescue.co.za/blog/budget-saving-26-07-2019-tricks-to-save-while-paying-off-debt/how-to-save-while-paying-of-debt-gif-2/" target="_blank">Debt Rescue</a><br /></td></tr></tbody></table><div><br /></div><div><br /></div><div>Let's move onto something less gloomy: the benefits of having an emergency fund.</div><div><br /></div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-9aHtUJ5Q2QU/XyhOCVVI_QI/AAAAAAAAA-w/Ndcq9Il7Vz0sJfvzEezEcLKqsEVWZDaYACLcBGAsYHQ/s1102/Emergency%2BFund%2BBenefits%2BPinterest.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1102" data-original-width="735" height="640" src="https://1.bp.blogspot.com/-9aHtUJ5Q2QU/XyhOCVVI_QI/AAAAAAAAA-w/Ndcq9Il7Vz0sJfvzEezEcLKqsEVWZDaYACLcBGAsYHQ/s640/Emergency%2BFund%2BBenefits%2BPinterest.png" /></a></div><div><br /></div><div><br /></div><h3 style="text-align: left;">The benefits of having an emergency fund</h3><p style="text-align: left;">There are several benefits to having an emergency fund, namely:</p><p style="text-align: left;"></p><ul style="text-align: left;"><li>Peace of mind</li><li>Less reliance on debt</li><li>Ability to pay for emergencies</li></ul><h4 style="text-align: left;">Peace of mind</h4><div>According to <a href="https://eu-assets.contentstack.com/v3/assets/blt0554f48052bb4620/blt25fec939c6e0ce33/5f1011ec487ff139051165ee/C1793_OMSIM_COVID19_TOP_10_KEY_FINDINGS_A4_V2.pdf" target="_blank">Old Mutual's Savings and Investment Monitor COVID-19 Special Report</a>, 58% of respondents "feel highly stressed about their financial situation." The report indicates that "this is up by 20% since 2019." The increase shows that more people are worried and stressed out about their finances. This could have been exacerbated by people's concerns about their livelihoods in the midst of the COVID-19 pandemic.</div><div><br /></div><div>When you are financially secure (and have money set aside in case of emergencies) there's a level of peace of mind you experience, as opposed to <a href="https://www.iol.co.za/personal-finance/my-money/spending-wisely/many-suffering-debt-stress-17684808">experiencing financial strain.</a> This comes from knowing that you can take care of emergencies as and when they arise. </div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-OBpvT2czDBI/XyLMzUIfgkI/AAAAAAAAA-M/qh3-S55-jko5Al4tmN8-LCjB0U1YQjwjgCLcBGAsYHQ/s500/homer%2Brelaxed.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="375" data-original-width="500" src="https://1.bp.blogspot.com/-OBpvT2czDBI/XyLMzUIfgkI/AAAAAAAAA-M/qh3-S55-jko5Al4tmN8-LCjB0U1YQjwjgCLcBGAsYHQ/s320/homer%2Brelaxed.gif" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><h4 style="text-align: left;">Less reliance on debt</h4><div>People who have an emergency fund are less reliant on debt because they have money saved up to pay for these emergencies. </div><div><br /></div><div>When one has an emergency fund this fund may become their first port of call when addressing a financial emergency. This can help to avoid having to take out loans or covering expenses with a credit card.</div><div><br /></div><h4 style="text-align: left;">Ability to pay for emergencies</h4><div>As the heading suggests, a benefit to having an emergency fund is being able to use it to pay for emergencies.</div><div><br /></div><div>Given that <a href="https://moneymarketing.co.za/52-of-south-africans-not-saving-for-a-rainy-day/">52% of South Africans are unable to "cover an unexpected expense of R10 000,"</a> it is clear that many South Africans are unable to pay for emergencies. Being able to pay for emergencies helps to achieve the two benefits stated above: peace of mind and less reliance on debt.</div><h4 style="text-align: left;"><span><span>Wrap-up</span></span></h4><div><span><span>While emergencies are a random, yet given feature of our lives, they do not need to knock us off (financial) course or lead to our financial ruin. </span></span>I hope this blog post was informative and helped you understand the importance of emergency funds.</div><div><span><span><br /></span></span></div><div><span><span>Thank you for taking the time to read this blog post.</span></span></div><div><span><span><br /></span></span></div><div><span><span>Much love,</span></span></div><div><a href="https://1.bp.blogspot.com/-hQOgWJ3_RJw/Xuo0D8MmgOI/AAAAAAAAA3E/qZZNVs855AE15dlmv3iMXgcMYH4TXtQ7gCK4BGAsYHg/s424/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; display: inline; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="124" data-original-width="424" height="60" src="https://1.bp.blogspot.com/-hQOgWJ3_RJw/Xuo0D8MmgOI/AAAAAAAAA3E/qZZNVs855AE15dlmv3iMXgcMYH4TXtQ7gCK4BGAsYHg/w205-h60/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" width="205" /></a></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div><div><br /></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-27269830040917017082020-06-27T17:34:00.001+02:002020-06-27T17:35:49.643+02:00I'll be taking a short break | Updates<span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0" style="background-color: white; border: 0px solid black; box-sizing: border-box; color: #14171a; display: inline; font-size: 23px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.3125; margin: 0px; min-width: 0px; overflow-wrap: break-word; padding: 0px; white-space: pre-wrap;">Dear Friends,
I'll be taking a short break from 27 June 2020 and will be back on 20 July 2020.</span><div><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0" style="background-color: white; border: 0px solid black; box-sizing: border-box; color: #14171a; display: inline; font-size: 23px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.3125; margin: 0px; min-width: 0px; overflow-wrap: break-word; padding: 0px; white-space: pre-wrap;"><br /></span></div><div><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0" style="background-color: white; border: 0px solid black; box-sizing: border-box; color: #14171a; display: inline; font-size: 23px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.3125; margin: 0px; min-width: 0px; overflow-wrap: break-word; padding: 0px; white-space: pre-wrap;"><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-0yGX7BZQsbw/XvdnUYq60lI/AAAAAAAAA7Y/AJQBlFGcbT0LaD704PxR9nviCQ8WZQaEQCK4BGAsYHg/s1200/Blog%2BGraphic%2BCopy%2Bof%2BDear%2BFriends.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1200" data-original-width="800" height="320" src="https://1.bp.blogspot.com/-0yGX7BZQsbw/XvdnUYq60lI/AAAAAAAAA7Y/AJQBlFGcbT0LaD704PxR9nviCQ8WZQaEQCK4BGAsYHg/s320/Blog%2BGraphic%2BCopy%2Bof%2BDear%2BFriends.png" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div>
Take care,
eishstudentbudget™ </span><span class="css-901oao css-16my406 r-4qtqp9 r-ip8ujx r-sjv1od r-zw8f10 r-bnwqim r-h9hxbl" dir="auto" style="background-color: white; border: 0px solid black; box-sizing: border-box; color: #14171a; display: inline-block; font-size: 23px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; height: 1em; line-height: inherit; margin: 0px 0.075em; overflow-wrap: break-word; padding: 0px; position: relative; white-space: pre-wrap; width: 1.2em;"><div aria-label="Yellow heart" class="r-xoduu5 r-1mlwlqe r-1d2f490 r-1udh08x r-u8s1d r-h9hxbl r-417010 css-1dbjc4n" style="-webkit-box-align: stretch; -webkit-box-direction: normal; -webkit-box-orient: vertical; align-items: stretch; border: 0px solid black; box-sizing: border-box; display: inline-flex; flex-basis: auto; flex-direction: column; flex-shrink: 0; height: 1.2em; left: 0px; margin: 0px; min-height: 0px; min-width: 0px; overflow: hidden; padding: 0px; position: absolute; width: 1.2em; z-index: 0;" title="Yellow heart"><div class="css-1dbjc4n r-1niwhzg r-vvn4in r-u6sd8q r-x3cy2q r-1p0dtai r-xoduu5 r-1pi2tsx r-1d2f490 r-u8s1d r-zchlnj r-ipm5af r-13qz1uu r-1wyyakw" style="-webkit-box-align: stretch; -webkit-box-direction: normal; -webkit-box-orient: vertical; align-items: stretch; background-color: rgba(0, 0, 0, 0); background-image: url("https://abs-0.twimg.com/emoji/v2/svg/1f49b.svg"); background-position: 50% 50%; background-repeat: no-repeat; background-size: 100% 100%; border: 0px solid black; bottom: 0px; box-sizing: border-box; display: inline-flex; flex-basis: auto; flex-direction: column; flex-shrink: 0; height: 27.5938px; left: 0px; margin: 0px; min-height: 0px; min-width: 0px; padding: 0px; position: absolute; right: 0px; top: 0px; width: 27.5938px; z-index: -1;"></div><img alt="Yellow heart" class="css-9pa8cd" src="https://abs-0.twimg.com/emoji/v2/svg/1f49b.svg" style="bottom: 0px; height: 27.5938px; left: 0px; opacity: 0; position: absolute; right: 0px; top: 0px; width: 27.5938px; z-index: -1;" /></div></span></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-75339808566113509992020-04-28T13:39:00.022+02:002023-03-31T23:08:57.414+02:00Budgeting for Beginners | The Basics <div style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<i style="font-family: georgia, "times new roman", serif; white-space: pre-wrap;">"The simplest definition of a budget is "telling your money where to go."" </i><span style="font-family: georgia, "times new roman", serif; white-space: pre-wrap;">Tsh Oxenreider.</span><span style="font-family: georgia, "times new roman", serif; white-space: pre-wrap;"><br /></span>
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiGXUSN0gLhCxohSclTYxSdH-Xch-Dr0iagJFOEabG5Txy-ZufE7Q8lVEtpYA22Q2uoMZdipmY5Qa4eme9aEjOUk612XxZK9LhN5UbjLWdKXPhm85K1uSOhWwwHuycGPN8O4D15wBGQNiLH8ESrzDudAst-WrSdEcgT7iDvJj6Ac3o9Fv70VnknoRBcHw=s2048" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" height="360" src="https://blogger.googleusercontent.com/img/a/AVvXsEiGXUSN0gLhCxohSclTYxSdH-Xch-Dr0iagJFOEabG5Txy-ZufE7Q8lVEtpYA22Q2uoMZdipmY5Qa4eme9aEjOUk612XxZK9LhN5UbjLWdKXPhm85K1uSOhWwwHuycGPN8O4D15wBGQNiLH8ESrzDudAst-WrSdEcgT7iDvJj6Ac3o9Fv70VnknoRBcHw=w640-h360" width="640" /></a></div></div><div style="text-align: left;"><div style="text-align: justify;"><div><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Oftentimes we find ourselves thinking, <i>"Where did all my money go?" </i>One day we have lots of money and the next it seems like it has vanished into thin air. This usually happens when we don't keep track of our money. We need to know what we plan to do with our money in order to make the best use of it.</span></span></div><div><span style="font-family: inherit;"><span face="arial, helvetica, sans-serif"><span style="white-space: pre-wrap;"><br /></span></span><span face="arial, helvetica, sans-serif"><span style="white-space: pre-wrap;">This is where a budget comes in.</span></span></span></div></div>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: justify;"><tbody>
<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-4k8ALfalSfc/XqgPF1JVRpI/AAAAAAAAAp8/UO9roQbRmkADmeXdaApyBf-3gPUrpRkyQCLcBGAsYHQ/s1600/simpsons%2Bspending%2Bgif.gif" style="margin-left: auto; margin-right: auto;"><span style="font-family: georgia, "times new roman", serif;"><img alt="Homer Simpson from The Simpsons spent $9 000 on donuts. His wife reads this out to him from a dark grey book, presumably a budget." border="0" data-original-height="151" data-original-width="200" height="240" src="https://1.bp.blogspot.com/-4k8ALfalSfc/XqgPF1JVRpI/AAAAAAAAAp8/UO9roQbRmkADmeXdaApyBf-3gPUrpRkyQCLcBGAsYHQ/s320/simpsons%2Bspending%2Bgif.gif" title="Homer Simpson spent money on Donuts gif" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><i><span style="font-family: georgia, "times new roman", serif; font-size: small;">"Where did all my money go?"</span></i></td></tr>
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<h2 style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>What is a Budget?</b></span></span></h2>
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<div style="text-align: justify;"><span style="font-family: inherit;"><span style="white-space: pre-wrap;">A budget is basically a plan of your income and expenses for a specific period of time. Budgets act as a road-map – that you design </span><span style="white-space: pre-wrap;">– to help you stay on course and achieve your goals.</span></span></div><p style="text-align: justify;"><span style="font-family: georgia, "times new roman", serif;"><span style="white-space: pre-wrap;"><br /></span></span></p></div>
<h3 style="text-align: justify;"><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>Plan</b></span></h3>
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<div style="text-align: justify;"><span style="font-family: inherit; white-space: pre-wrap;">Having a plan (also known as "goal-setting") can improve the likelihood of achieving goals. According to a 2015 study by Gail Matthews, a psychologist, people who wrote down their goals were 33% more likely to achieve their goals than those who formulated outcomes in their head (Price-Mitchell 2018).</span></div><p style="text-align: justify;"><span style="font-family: georgia, "times new roman", serif; white-space: pre-wrap;"><br /></span></p></div>
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<p style="text-align: justify;"><span style="font-family: inherit;"><span style="white-space: pre-wrap;">Writing down your budget, or typing it out, can help you achieve your financial goals. It's important to know what one's limitations are </span><span style="white-space: pre-wrap;">– what you can and cannot spend money on. But before we can expand on what we can spend money on, we have to look at what money is coming in.</span></span></p><p style="text-align: justify;"><span style="font-family: georgia, "times new roman", serif;"><span style="white-space: pre-wrap;"><br /></span></span></p></div>
<h3 style="text-align: justify;"><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>Income</b></span></h3>
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<div style="text-align: justify;"><span style="font-family: inherit; white-space: pre-wrap;">Your income is the money coming in. It is the money you receive, usually on a regular basis.</span></div><div style="text-align: justify;"><span style="font-family: inherit;"><span style="white-space: pre-wrap;"><br /></span><span style="white-space: pre-wrap;">A few examples of income are:</span></span><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Salaries and wages</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Interest income</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Dividend income</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Allowances received from parents and/or a bursary/scholarship</span></span></li></ul><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Once you've identified how much money you'll be receiving, you can plan on how to spend it.</span></span></div></div>
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<h3 style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>Expenses</b></span></span></h3>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-JVW0f_bFIA8/Xqf_zxqci1I/AAAAAAAAApk/cLArH2F7e5gzgvdjbvkLH1wXEBq7TYggwCEwYBhgL/s1600/771AF760-5406-4404-BA7F-E18D31F45BAA.GIF" style="margin-left: auto; margin-right: auto;"><span style="font-family: georgia, "times new roman", serif;"><img alt="Youngest kids in Blackish series make it rain with dollar bills. Gif representing expenses. eishstudentbudget used this gif to demontrate how money is often spent." border="0" data-original-height="270" data-original-width="360" height="240" src="https://1.bp.blogspot.com/-JVW0f_bFIA8/Xqf_zxqci1I/AAAAAAAAApk/cLArH2F7e5gzgvdjbvkLH1wXEBq7TYggwCEwYBhgL/s320/771AF760-5406-4404-BA7F-E18D31F45BAA.GIF" title="Kids making it rain with dollars" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><i><span style="font-family: georgia, "times new roman", serif; font-size: small;">Spend it all, or not.</span></i></td></tr>
</tbody></table><div><p style="text-align: justify;"></p><p style="text-align: justify;"><span style="font-family: inherit;"><span face="arial, helvetica, sans-serif"><span style="white-space: pre-wrap;">Expenses are those things we spend money on. These can be regular or once-off expenses. This includes things such as:</span></span><span face="arial, helvetica, sans-serif"><span style="white-space: pre-wrap;"><br /></span></span></span></p><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Groceries</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Cellphone contracts</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Water and electricity</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Transportation costs</span></span></li></ul><ul><li style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">Entertainment expenses</span></span></li></ul><div><span style="font-family: georgia, times new roman, serif;"><span style="white-space: pre-wrap;"><br /></span></span></div><p></p><p></p></div><div>
<h3 style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>Budget Time-frame</b></span></span></h3>
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<p style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">A budget typically covers a certain period, such as a week, month, year, etc. Budgets can also be prepared quarterly (every three months or four times a year). You can decide what works best for you.</span></span></p><p style="text-align: justify;"><span face="arial, helvetica, sans-serif"><span style="font-family: inherit; white-space: pre-wrap;">It may make sense for someone who receives a weekly wage to prepare a budget weekly, but someone who gets a monthly allowance will probably prepare a monthly budget. As you can see, personal budgets are usually prepared according the frequency of income received and expenses paid.</span></span></p>
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<tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-4beLxr9MrDU/XqgVSZs_84I/AAAAAAAAAqY/lhGsVHPKOc8OHVuSHQCEIsCcQJ9AmSZ6gCLcBGAsYHQ/s1600/68acf8525f7bdff2b6a35cf3dd0c148c_amazing-cliparts-today1580836399-year-calendar-animation-_800-600.gif" style="margin-left: auto; margin-right: auto;"><span style="font-family: georgia, "times new roman", serif;"><img alt="Month of January days flipping in blue and white calendar." border="0" data-original-height="600" data-original-width="800" height="240" src="https://1.bp.blogspot.com/-4beLxr9MrDU/XqgVSZs_84I/AAAAAAAAAqY/lhGsVHPKOc8OHVuSHQCEIsCcQJ9AmSZ6gCLcBGAsYHQ/s320/68acf8525f7bdff2b6a35cf3dd0c148c_amazing-cliparts-today1580836399-year-calendar-animation-_800-600.gif" title="Month of January Calendar" width="320" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><i><span style="font-family: georgia, "times new roman", serif; font-size: small;">Budgets can be weekly, monthly, or yearly.</span></i></td></tr>
</tbody></table><div style="text-align: justify;"><h2><span style="font-family: inherit; font-size: large;"><b>When is the best time to draw up a Budget?</b></span></h2>
<div><span style="font-family: inherit;">The best time to draw up a budget is NOW. </span></div><div><span style="font-family: inherit;"><span><br /></span><span>You can draw up a budget at any time. The sooner you do it, the better. Because you'll have an estimate of where you are financially. </span></span></div><div><span style="font-family: inherit;"><span><br /></span><span>I prefer drawing up (and <i>revising!</i>) my budget when I get my income and when I pay my bills. This is usually at month-end. I then see if I kept to my budget and make adjustments as necessary. </span><span>Not everyone receives their income at month-end. Some receive them weekly, quarterly (four times a year), or even bi-annually (twice a year)!</span></span></div><div><span style="font-family: inherit;"><span><br /></span><span>We're all different, and our personal budgets will reflect that.</span></span></div><p><span style="font-family: georgia, "times new roman", serif;"><br /></span></p>
<h2><span style="font-family: inherit; font-size: large;"><b>The benefits of drawing up a budget</b></span></h2>
<p><span style="font-family: inherit;">There are a number of benefits to drawing up a budget. Below are some of them.</span></p>
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<h3><span style="font-family: georgia, "times new roman", serif;"><b>Goal-setting</b></span></h3>
<div><span style="font-family: inherit;"><span>Drawing up a budget can help you set and achieve financial goals. A budget allows you to identify your income and expenses, and it allows you to modify it to achieve these goals.</span></span></div><div><span style="font-family: inherit;"><span><br /></span><span>Say you want to save up money to buy a mountain bike. You can analyse your budget to determine what expenses you can cut out to save money, or you can see that your income is not enough and decide to increase your income to save more.</span></span></div><div><span style="font-family: inherit;"><span><br /></span><span>You may even find that by drawing up a budget, you recognise that your income is not enough to cover your expenses, and that may inspire you to look at developing additional streams of income.</span></span></div>
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<h3><span style="font-family: georgia, "times new roman", serif;"><b>Control spending</b></span></h3>
<div><span style="font-family: inherit;"><span>Analysing your budget may reveal where you are spending a lot of money (and what to cut back on!). </span><span><br /></span><span>Personally speaking, I realised that since the lockdown commenced, I haven't spent that much money on Uber trips or UberEATS (don't get me wrong: I <i>love </i>Uber!). </span></span></div><div><span style="font-family: inherit;"><br /></span></div><div><span style="font-family: inherit;"><span>While I have made a few trips here and there (within their reduced operational hours), I have spent a fraction of what I used to spend on Uber trips. And if you look at UberEATS </span><span style="text-align: start; white-space: pre-wrap;"><span>– my goodness! I haven't spent a cent on UberEATS since the lockdown. </span></span></span></div><div><span style="font-family: inherit;"><span style="text-align: start; white-space: pre-wrap;"><span><br /></span></span><span style="text-align: start; white-space: pre-wrap;"><span>Preparing and/or cooking food at home is more affordable.</span></span></span></div>
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<h3><span style="text-align: start; white-space: pre-wrap;"><span style="font-family: georgia, "times new roman", serif;"><b>Identify spending habits</b></span></span></h3><div style="text-align: justify;"><span style="font-family: inherit; text-align: start; white-space: pre-wrap;">Linked to the point above, drawing up a budget can help you identify your spending habits. Your spending habits can be explained as what you usually spend money on. By identifying your spending habits, you can determine what expenses are frivolous vs necessary. </span></div>
<span style="text-align: start;"><div style="text-align: justify;"><span style="font-family: inherit; white-space: pre-wrap;"><br /></span></div></span><div style="text-align: justify;"><span style="font-family: inherit; text-align: start; white-space: pre-wrap;">I noticed I spent quite a bit on Uber and airtime. Both of these reflect a lack of discipline on my part, which is definitely an area for improvement.</span></div>
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<h3><span style="text-align: start;"><span><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>Identify areas for improvement</b></span></span></span></h3>
<div style="text-align: justify;"><span style="text-align: start;"><span><span style="font-family: inherit; white-space: pre-wrap;">Drawing up a budget can help you determine what you need to improve on. This can help you reach your financial goals because if you know what needs to be fixed you can <i>fix it </i>easier than someone who doesn't know what needs to be worked on.</span></span></span></div><p style="text-align: justify;"><span style="text-align: start;"><span style="font-family: georgia, "times new roman", serif;"><span style="white-space: pre-wrap;"><br /></span></span></span></p>
<h2><span style="text-align: start;"><span><span style="font-family: inherit; font-size: large; white-space: pre-wrap;"><b>Wrap-up</b></span></span></span></h2>
<p></p><div style="text-align: justify;"><span style="font-family: inherit; text-align: start; white-space: pre-wrap;">Budgets play an important role in helping one achieve their financial goals. By analysing our income and expenses, we can identify what we need to address to achieve these goals.</span></div><span style="font-family: inherit; text-align: start;"><div style="text-align: justify; white-space: pre-wrap;"><br /></div></span><p></p><p style="text-align: justify;"><span style="text-align: start;"><span><span style="font-family: inherit; white-space: pre-wrap;">Thanks for taking the time to read this blog post.</span></span></span></p><p></p><div style="text-align: justify;"><span style="font-family: inherit; white-space: pre-wrap;"><br /></span></div><span style="text-align: start;"><div style="text-align: justify;"><span style="font-family: inherit; white-space: pre-wrap;">Much love, </span></div></span><p></p></div></div><div style="text-align: left;"><div style="text-align: justify;"><div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-qE1_IyKKFIk/XqgrBaLTYlI/AAAAAAAAAsQ/hjTEwKXOyZs0eG4jMJwB3AmGnNc35WnIwCLcBGAsYHQ/s1600/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" style="clear: left; float: left; margin-bottom: 1em; margin-left: 1em; text-align: left;"><img alt="eishstudentbudget Budgeting for Beginners | The Basics" border="0" data-original-height="124" data-original-width="424" height="58" src="https://1.bp.blogspot.com/-qE1_IyKKFIk/XqgrBaLTYlI/AAAAAAAAAsQ/hjTEwKXOyZs0eG4jMJwB3AmGnNc35WnIwCLcBGAsYHQ/w200-h58/better%2Bneater%2Beishstudentbudget%2Bsign%2Boff%2Bsignature%2B.png" title="eishstudentbudget sign off signature" width="200" /></a></div></div></div></div><div><div style="text-align: justify;">
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eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-65637869107332670342018-11-26T14:17:00.014+02:002023-03-31T22:52:07.656+02:00Cyber Monday Deals | How to Survive #CyberMonday<div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">Hello, everyone!</span></span></div>
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<span style="font-family: inherit;"><span style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">I hope you (</span><span style="background-color: transparent; color: black; font-style: italic; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">and your pockets!) </span><span style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">survived #BlackFridayWeekend. </span></span></div>
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<span style="background-color: transparent; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">It may be tempting to blow through a bank account this Cyber Monday, given that it is often believed that Cyber Monday offers better deals than Black Friday. However, it is important to <a href="https://www.eishstudentbudget.com/2021/12/5-ways-to-practice-financial-self-care.html" target="_blank">practice financial self-care</a> to manage your finances well and not give in to the hype.</span></span></div><h2 style="text-align: left;"><span><span style="font-family: inherit; font-size: large;">Surviving #CyberMonday</span></span></h2>
<span style="font-family: inherit;"><b style="font-weight: normal;"><span>Without further ado, let's check out 5 ways to </span></b><span style="white-space: pre-wrap;">survive #CyberMonday and the plethora of deals that'll be coming your way.</span></span><div>
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<h3 style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit; font-size: large;">1. Perform a Needs Assessment</span></span></h3>
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<span style="font-family: inherit;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">A needs assessment is defined by Study.com as “a process used by organisations to determine priorities, make organizational improvements, or to allocate resources.” In addition to this, “i</span><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">t involves determining the needs, or gaps, between where the organization envisions itself in the future and the organization's current state.”</span></span></div>
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<span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">This can be applied to individuals, too. Establish where you are financially and where you would like to be in the future, then assess whether the purchases you wish to make on Cyber Monday will prevent you from achieving your financial goals or help you to reach them.</span></span></div>
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<span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">Ask yourself if you really need to buy that item. Will you be able to go about your day-to-day activities without that item? Will you need to incur debt to purchase the said item? If you've answered yes to any of these questions, you probably shouldn't buy it. </span></span></div>
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<h3 style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit; font-size: large;">2. Plan Your Budget</span></span></h3>
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<span style="font-family: inherit;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">After you h</span><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">ave</span><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> identified the items you do need, it is time to compile a budget.</span></span></div>
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<span style="font-family: inherit;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Simply put, a budget is “</span><span style="background-color: white; color: #222222; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">an estimate of income and expenditure for a set period of time.” A budget can be set for any period of time: a week, a month, or even a year.</span></span></div>
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<span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">It is important to set and stick to a budget to avoid spending more than you have. Remember, you can amend your budget to reflect deviations from the plan.</span></span></div>
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<span style="font-family: inherit;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Create a list of all the items you </span><span style="background-color: white; color: black; font-style: italic; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">need</span><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> to buy. You can do this on a notepad or on the notes app on your phone. It's important to do this so you don't impulse-buy (even on </span><span style="background-color: white; color: black; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><i>deals</i></span><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">) on Cyber Monday.</span></span></div>
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<h3 style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit; font-size: large;">3. Shop Online</span></span></h3>
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<div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">Shopping online has its pros. You avoid the huge Cyber Monday crowds scouring for deals, and you can get better deals online (promotional codes, increased discounts, etc). Some websites even have free shipping. This will help you save even more money.</span></span></div>
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<h3 style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit; font-size: large;">4. Know Your Options</span></span></h3>
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<span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;">This ties in with point 3 above. Shopping online allows you to compare prices of similar products at different stores. The result of this is that you can select the best deal for your pocket .</span></span></div>
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<h3 style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit; font-size: large;">5. Cash is King</span></span></h3><div><span style="background-color: white; color: black; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;"><br /></span></span></div>
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<span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;">Sadly, some consumers find themselves falling into the trap of purchasing </span><a href="https://www.instagram.com/explore/tags/blackfridayweekend/" style="text-decoration-line: none; white-space: normal;"><span style="color: #003569; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">#BlackFridayWeekend</span></a><span style="font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"> and </span><a href="https://www.instagram.com/explore/tags/cybermonday/" style="text-decoration-line: none; white-space: normal;"><span style="color: #003569; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">#CyberMonday</span></a><span style="font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"> deals on credit. This results in increased debt levels. When the euphoria has died down, many consumers are often left with buyer's remorse. </span></span></span></div><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"><br /></span></span></span></div><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; color: black; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-family: inherit;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;">It is best to opt to take advantage of deals with the cash already saved. What if you don't have cash saved up? Rather opt to prepare for the next year; plan how much you may spend in the following year and draft a plan to execute your savings strategy. </span><span style="font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"> </span></span></span></div>
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<h2 style="text-align: left;"><span style="font-family: inherit; font-size: large;">Final Thoughts on Surviving Cyber Monday Deals</span></h2><div><span><div><span style="font-family: inherit;">While Cyber Monday can be a great time to get deals online, it can also lead you to making bad financial choices. To survive the onslaught of Cyber Monday deals, I've shared some key things to keep in mind. </span></div><div><span style="font-family: inherit;"><br /></span></div><div><span style="font-family: inherit;">From performing a needs assessment to opting to only make cash purchases, these tips will help you make the most out of your Cyber Monday shopping experience. Plus, the money you <i>don't</i> spend is the <a href="https://www.eishstudentbudget.com/2022/11/httpswww.eishstudentbudget.com202211how-to-save-money-ways-to-save-money.html.html" target="_blank">money you save</a> as a student.</span></div><div style="font-style: italic;"><br /></div></span></div><div><i><span style="font-family: inherit;">Are you planning on shopping this #CyberMonday? What are you planning on buying? Do you have other ways you're planning to survive #CyberMonday? Let me know what you think of this blog post below! </span></i><br /><br /></div><div><span style="font-family: inherit;"><span style="box-sizing: border-box;"><b style="background-color: white; font-style: italic;">
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eishstudentbudget</b><span style="background-color: white; font-style: italic;"> was started in 2015 by a South African university student who is passionate about saving and making money and wants to educate others to do the same.</span><span style="background-color: white; font-style: italic;"> The mission? To educate</span></span><i style="background-color: white;"><span style="color: #262626;"> university students on their finances. Take the 'eish' out of student finances!</span></i></span></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-36264443701323311192018-09-04T23:31:00.003+02:002023-03-30T04:31:21.953+02:00Top Money Lessons Beyonce Taught Us | #BeyDay<div class="separator" style="clear: both; text-align: center;">
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<span style="font-family: inherit; font-size: small; font-weight: normal;">All hail the queen (who turns 37 today)! #BeyDay</span></h2>
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<tr><td class="tr-caption" style="text-align: center;">Source: https://goo.gl/pciRyu</td></tr>
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<span style="font-family: inherit;"><br />Beyonce certainly bows down to no one when it comes to her finances, so why should you? The superstar, who is worth $350 million and counting, can teach us a thing or two about money.</span><div><h2 style="text-align: left;">Top Money Lessons Beyoncé Taught Us</h2>
<span style="font-family: inherit;">Here are the Top Money Lessons Beyonce Taught Us.</span><span style="font-family: inherit;"><span style="font-family: inherit;"><br /></span>
</span><h3 style="text-align: left;"><span><b><span style="font-family: inherit; font-size: large;">1. Be Financially Independent</span></b></span></h3>
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<span style="font-family: inherit;">Beyonce had this to say in an interview with <i>GQ Magazine:</i></span></span><br />
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<span style="background-color: white; color: #333333;"><i>"You know, equality is a myth, and for some reason, everyone accepts the fact that women don't make as much money as men do. I don't understand that. Why do we have to take a backseat? I truly believe that women should be financially independent from their men. And let's face it, money gives men the power to run the show. It gives men the power to define value. They define what's sexy. And men define what's feminine. It's ridiculous."</i></span></span><br />
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<span style="color: #333333; font-family: "elizabethserif" , "georgia" , serif;"><span style="background-color: white;">This is similar to the premise of financial independence -- that you get to define what you value. For some, it is time spent with their children. For others, it is time spent on a passion project. Whatever your <i>why </i>may be, being financially independent gives you the ability to control how you spend your time. It is more than just money. It gives you the power to control your destiny. </span></span></span><br />
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</span><h3 style="text-align: left;"><span><b><span style="font-family: inherit; font-size: large;">2. Take Control</span></b></span></h3>
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<span style="font-family: inherit;">Beyonce controls every aspect of her career -- from her styling, social media presence, and accessibility, Beyonce is one woman in control. She has proven that being in control of your work and brand can prove to be beneficial. The same is true for your finances.</span></span><br />
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<span style="font-family: inherit;">Take a look at what you earn/receive every month and analyse your expenditure. Note where your money goes and identify unnecessary spending. Aim to reduce or eliminate unnecessary expenditures and save that money instead. Or use it to pay off debt. As long as you are in control of your money, you decide what to do with it. </span></span><br /><span style="font-family: inherit;"><span style="font-family: inherit;"><br /></span>
</span><h3 style="text-align: left;"><span><b><span style="font-family: inherit; font-size: large;">3. Invest Wisely</span></b></span></h3>
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<tr><td class="tr-caption" style="text-align: center;"><i>“Gimme my check. Put some respeck on my check. Or pay me in equity, pay me in equity, and watch me reverse out of debt.”</i></td></tr>
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Speaking of taking control of her finances, Beyonce has made wise financial decisions. In an interview with the <i>UK Mirror </i>in 2009, the mogul said:</span><br />
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<span style="background-color: white;"><span style="font-family: inherit;"><i>"I have a lot of property. I've invested my money and I don't have to make any more, thank God, because I'm set," she told the UK Mirror in 2009. "I'm now able really to be free and just do things that make me happy."</i></span></span><br />
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<span style="background-color: white;"><span style="font-family: inherit;">Investing her money wisely gave Beyonce the freedom to do things that made her happy. She has been able to take risks in her career in terms of artistic direction and how she releases albums, which were enhanced by her being in a secure financial position. </span></span></span><br />
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<span style="background-color: white;">Common, yet wise, investments include:</span></span><br />
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<li><span style="font-family: inherit;">Investing in property;</span></li>
<li><span style="font-family: inherit;">Investing in shares/stocks;</span></li>
<li><span style="font-family: inherit;">Investing in Unit Trusts;</span></li>
<li><span style="font-family: inherit;">Investing in ETFs;</span></li>
<li><span style="font-family: inherit;">Etcetera</span></li>
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<span style="font-family: inherit;">Take the time to research investing and learn about the different types and their associated risks. Speak to a financial advisor to help you make the right financial decisions for your future.</span><br />
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<h3 style="text-align: left;"><b><span style="font-family: inherit; font-size: large;">4. Diversify, Diversify, Diversify</span></b></h3>
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The queen, as she is affectionately known, is not only a singer but an actress, entrepreneur, producer, songwriter, and dancer. She has many skills and roles. Beyonce leveraged her fame as a singer to catapult her into other arenas of success. Diversifying (until a certain point) provides the most return for the lowest amount of risk. Beyonce's success has proven this to be true.<br />
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<tr><td class="tr-caption" style="text-align: center;"><i>Be on the lookout for ways to diversify your investments. </i></td></tr>
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<br /></div><h2 style="text-align: left;">Final Thoughts on Top Money Lessons Beyoncé Taught Us</h2><div>
Beyonce has inspired millions around the globe to follow their dreams and achieve excellence in their chosen paths. I hope this blog post inspires you to take steps toward financial independence.<br />
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<span style="background-color: white;"><i>What did you think of this blog post? Have you been inspired to take control of your money and make sound financial decisions? Are there other money lessons you can think of? Let me know in the comments section below! Take care.</i></span><br />
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<span style="font-family: inherit;"><span style="background-color: white; box-sizing: border-box;"><i><b>eishstudentbudget</b> was started in 2015 by a South African university student who is passionate about saving and making money, and wants to educate others to do the same. </i></span><i><a href="https://www.instagram.com/explore/tags/eishstudentbudget/" style="background-color: #fafafa; border: 0px; color: #003569; font-stretch: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">#eishstudentbudget</a><span style="background-color: #fafafa; color: #262626;"> is a personal finance blog that educates university students on their finances. Take the 'eish' out of student finances!</span></i></span></div>
</div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-37960502544635619592018-08-21T10:27:00.002+02:002023-03-30T04:24:59.423+02:00#ThankfulTuesdays: 3 Money Truths I Am Thanful ForIt is a wonderful Tuesday morning in Johannesburg. The sun is out, birds are chirping, and I am feeling pretty excited about tackling the rest of the week. Although the pressures of school, work, and life beat down on us from time to time, there is a lot to be grateful for.<br />
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<tr><td class="tr-caption" style="text-align: center;"><i>Photo by <a href="https://unsplash.com/photos/mdbO16vIDVQ?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Justyn Warner</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/thankful?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a></i></td></tr>
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<br /><h2 style="text-align: left;">3 Money Truths I'm Thankful For</h2>
Here are <i>"3 Money Truths I Am Thankful For."</i><i><br /></i>
<h3 style="text-align: left;"><b>1. You Need to Budget</b></h3>
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<tr><td class="tr-caption" style="text-align: center;"><i>Photo by <a href="https://unsplash.com/photos/mdbO16vIDVQ?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Justyn Warner</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/thankful?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a></i></td></tr>
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This goes without saying, but there are some people who do not believe they should budget. To them, "money comes and goes." Unfortunately, not having a <a href="https://bit.ly/2Ple6L4" target="_blank">purpose </a>for your money can and often does result in not using it correctly or just spending it all.<br />
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A budget simply tells one where their money comes from (income) and what it should be spent on (expenses). The following <a href="https://www.quicken.com/most-recommended-household-budget-items" target="_blank">items </a>usually feature on a household budget.<br />
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<li class="TrT0Xe" style="border: 0px; list-style-type: disc; margin: 0px 0px 4px; padding: 0px;">Income</li>
<li>Housing Costs (mortgage, maintenance, and repairs, etc)</li>
<li>Emergency Fund</li>
<li>Savings (cash savings and investments)</li>
<li>Utilities</li>
<li>Healthcare</li>
<li>Consumer Debt</li>
<li>Food and Groceries</li>
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If you are a student, your budget will probably feature these items:</div>
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<li>Income (allowances from bursaries or your parents)</li>
<li>Food and Groceries</li>
<li>Transport (Taxis, Uber, Gautrain, etc)</li>
<li>Petrol (if you drive a car)</li>
<li>Entertainment (includes money for eating out)</li>
<li>Savings (cash savings and investments)</li>
<li>Consumer Debt </li>
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Try to spend less when it comes to your budget. When your expenses are more than your income, you are over budget. When your expenses are less than your income, you are within your budget. </div>
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Budgeting has taught me how to be purposeful with my money. There were times when I felt overwhelmed by compiling my budget, but it is now liberating to know what I am doing with my money. I always "feel" like I have <i>more </i>money simply because I can account for it.</div>
<h3 style="text-align: left;"><b>2. Settle Your Debts as Soon as Practicable</b></h3>
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<tr><td class="tr-caption" style="text-align: center;"><i>Photo by <a href="https://unsplash.com/photos/FlHdnPO6dlw?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Jon Tyson</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/time?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a><br /></i></td></tr>
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Studies have shown that paying off debt may <a href="https://www.psychologytoday.com/us/blog/what-mentally-strong-people-dont-do/201509/the-psychological-trick-will-help-you-pay-debt-fast" target="_blank">reduce your stress and psychological well-being.</a> It follows that not paying off debt and accumulating more can increase your stress levels and have a negative effect on your psychological well-being.<br />
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In addition to the emotional and mental effects above, there are financial costs to not settling your debts on time. Increased interest expense and an impaired credit score are the effects of not paying your debts on time. The interest rate on debt, particularly consumer debt, is usually more than the interest banks offer on savings accounts. That is why it is sometimes recommended to focus on aggressively paying off debt first and saving some money,<br />
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I have learned that settling my debts as soon as practicable has made me feel unrestrained and have more options when it comes to how I spend my money. Assess your financial situation and see if you can put more money towards settling your debts. The more you get rid of debt, the more options you have.<br />
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<h3 style="text-align: left;"><b>3. You Need to Save Money (Read "Save and Invest" Money) </b></h3>
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<tr><td class="tr-caption" style="text-align: center;"><i>Photo by <a href="https://unsplash.com/photos/pElSkGRA2NU?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Fabian Blank</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/save-money?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a></i></td></tr>
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<i>"Save me today, and I'll save you tomorrow"</i> is a quote repeated so many times in the personal finance community. I am sure everyone knows it by heart!<br />
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This is my favourite money truth because I have seen it play out in my life. From having to pay for an unexpected expense to be able to pay for more expensive (yet convenient) transportation, saving money has always proven to be worth it.<br />
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You may need to pay for repairs for your car or pay for extra lessons for your child that is struggling with a particular subject. Having money saved for emergencies (and not having to rely on debt) will give you immense peace of mind. You may have to spend hundreds and/or thousands on these, but it will be better to spend cash on these necessities than acquiring debt (and possibly adding more debt to the one you have).<br />
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Your car will be fixed, and you will be able to get to work to make money.<br />
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Your child will improve their marks and have better self-esteem.<br />
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Having money saved in case of emergencies puts you in a better position than had you not saved the money. You and your family will be thankful.<br />
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If you are a student and need money to buy airtime and data or to print lecture handouts at the library — money will always save you. <i>Literally</i>. Staying late on campus and you do not have a ride home? Having money saved up will give you the option of using the <i>Gautrain</i> (if you are based in Gauteng) and/or taking an Uber home. It is a lot safer to use these services as opposed to taking a taxi home at night.<br />
<br /><h2 style="text-align: left;">Final Thoughts on Money Truths I'm Thankful For</h2>
Money has saved me many times because I chose to save it <i>first</i>. Choose to save money today, so it will save you tomorrow.<br />
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<a name='more'></a><span style="font-family: inherit;"><span style="background-color: white; box-sizing: border-box;"><i><b>eishstudentbudget</b> was started in 2015 by a South African university student who is passionate about saving and making money. </i></span><i><a href="https://www.instagram.com/explore/tags/eishstudentbudget/" style="background-color: #fafafa; border: 0px; color: #003569; font-stretch: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">#eishstudentbudget</a><span style="background-color: #fafafa; color: #262626;"> is a personal finance blog that educates university students on their finances. Take the 'eish' out of student finances!</span></i></span>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-54191921700497018742018-08-09T18:22:00.003+02:002023-03-30T04:18:55.497+02:00Top 3 Ways You Can Save Money This Long Weekend <div style="text-align: justify;">
HAPPY WOMEN'S DAY, SOUTH AFRICA!<br />
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<tr><td style="text-align: center;"><a href="https://3.bp.blogspot.com/-OFdCvZtBa-s/W2xGqiwerXI/AAAAAAAAADI/n2XkgmmJQlsQsGaxfh5g2gwsht1cC2T4ACLcBGAs/s1600/National-Womens-Day-Fedsaw.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="210" data-original-width="300" src="https://3.bp.blogspot.com/-OFdCvZtBa-s/W2xGqiwerXI/AAAAAAAAADI/n2XkgmmJQlsQsGaxfh5g2gwsht1cC2T4ACLcBGAs/s1600/National-Womens-Day-Fedsaw.jpg" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><i>From left to right: Rahima Moosa, Lilian Ngoyi, Helen Joseph and Sophia Williams-De Bruyn. </i></td></tr>
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Our female predecessors worked hard and sacrificed much so that we may enjoy the freedoms we have today. The march of 9 August 1956 sought to protest against a discriminatory Apartheid law that required those defined as "black" (black, Indian, and coloured) under The Population Registration Act to carry "passes," which restricted their movement.<br />
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Thanks to Lillian Ngoyi, Helen Joseph, Rahima Moosa, Sophia Williams, and thousands of women, we are no longer subject to such a law.<br />
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While we enjoy physical freedom, many of us do not enjoy financial freedom. Living beyond one's means, high consumer debt, and a low savings rate are some of the main reasons many South Africans do not enjoy financial freedom.<br />
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As many South Africans plan to go out this long weekend to celebrate their loved ones, read on to learn about a few ways you can save money this long weekend.<br />
<br /><h2>Ways to Save Money This Long Weekend</h2><div>Without further ado, here are three ways to save money on this special long weekend.</div>
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<h3><b><span style="font-family: inherit; font-size: large;">1. Watch a Movie at Home Instead of Going to the Movies</span></b></h3>
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<tr><td class="tr-caption" style="text-align: center;">Photo by <a href="https://unsplash.com/photos/ngMtsE5r9eI?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Jens Kreuter</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/watch-movie-at-home?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a></td></tr>
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It is far cheaper to watch a movie at home than to go see one at the movies. Depending on the cinema tier or location, you can expect to pay up to <a href="https://www.iol.co.za/business-report/economy/ster-kinekor-nu-metro-just-hiked-up-their-prices-but-you-can-cheat-the-system-15156254" target="_blank">R158</a> to see a 2D movie at Ster Kinekor. The lowest 2D movie at a Ster Kinekor cinema is <a href="https://www.iol.co.za/business-report/economy/ster-kinekor-nu-metro-just-hiked-up-their-prices-but-you-can-cheat-the-system-15156254" target="_blank">R31</a> at Ster Kinekor Sterland. A Cinema Nouveau movie ticket costs R81. Let us assume the average person buys a Cinema Nouveau ticket at R81 to see a 2D movie. Add to that the cost of popcorn, sweets, and drinks, and you are looking at well over R200. According to an <a href="http://www.moneybags.co.za/article/is-ster-kinekor-ripping-us-off/" target="_blank">article </a>written by <a href="http://www.moneybags.co.za/" target="_blank">Moneybags </a>, the total cost of snacks and drinks cost R95.80 at "local Ster Kinekor." </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">That was in 2016. If we increase that amount by the <a href="https://www.statista.com/statistics/370515/inflation-rate-in-south-africa/" target="_blank">inflation rate</a> of 2017 (5.27%) and 2018 (5.26% estimate) and the Value Added Tax Increase in 2018 (from 14% to 15%), we are looking at a cost of R113.58. The total cost (movie ticket and snacks) is now R194.58! This is just for one person and does not take into account the cost of driving to see the movie.</div>
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It is more affordable to watch a movie at home, make some popcorn homemade popcorn and enjoy a movie on the couch! </div>
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<h3 style="text-align: justify;"><b><span style="font-family: inherit; font-size: large;">2. Make Presents for the Special Women in Your Life</span></b></h3>
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<tr><td class="tr-caption" style="text-align: center;">Photo by <a href="https://unsplash.com/photos/nREv5-El0M4?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">JESHOOTS.COM</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/homemade-gift?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a></td></tr>
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You may want to splurge on expensive gifts to show you care about and love the women in your life, but homemade gifts do just fine. Add a personal touch with words of thanks, handwritten cards, pictures, and some sweets (or <i>"candy"</i>). You can find affordable boxes, gift wraps, and art supplies that will make your present stand out!<br />
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<h3 style="text-align: left;"><b><span style="font-family: inherit; font-size: large;">3. Make Use of Travel Discount Apps</span></b></h3>
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<tr><td class="tr-caption" style="text-align: center;">Photo by <a href="https://unsplash.com/photos/HGLCvGWujGE?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Fikri Rasyid</a><span face=", "blinkmacsystemfont" , "san francisco" , "helvetica neue" , "helvetica" , "ubuntu" , "roboto" , "noto" , "segoe ui" , "arial" , sans-serif" style="background-color: whitesmoke; color: #111111; font-size: 14px; white-space: nowrap;"> on </span><a href="https://unsplash.com/search/photos/travel-app?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText" style="background-color: whitesmoke; box-sizing: border-box; color: #999999; font-family: -apple-system, BlinkMacSystemFont, "San Francisco", "Helvetica Neue", Helvetica, Ubuntu, Roboto, Noto, "Segoe UI", Arial, sans-serif; font-size: 14px; text-align: start; transition: color 0.2s ease-in-out 0s, opacity 0.2s ease-in-out 0s; white-space: nowrap;">Unsplash</a></td></tr>
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Planning on going on a girls' trip this long weekend? Many travel and hotel comparison apps exist so you can find the most competitive prices on travel and accommodation. Do a Google search of "hotel comparison websites" and "travel discounts South Africa" to find the best deals online. </div><div><br /></div><div>If you are thinking of flying, it is more affordable to purchase tickets well in advance (sorry!), but you can still search for Women's Day travel deals online. If you are a student, you can make use of student deals that offer students discounts.</div><div><br /></div><div>What is usually required is your student card (proof that you are a student) and/or signing up for the student club at your university. You can always save for the following year's Women's Day travel plans and purchase plane tickets early next year. Save money, and think ahead.</div><h2 style="text-align: left;">Final Thoughts on Saving Money During the Long Weekend</h2>
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That wraps up the Top 3 Ways You Can Save Money This Long Weekend! What other ideas do you have? <i>Are you planning on traveling? Staying at home/the university residence to catch up on work? Let me know your thoughts in the comment section below. </i></div>
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<a name='more'></a><span style="font-family: inherit;"><em style="background-color: white; box-sizing: border-box;"><b>eishstudentbudget</b> was started in 2015 by a South African university student who is passionate about saving and making money. </em><i><a href="https://www.instagram.com/explore/tags/eishstudentbudget/" style="background-color: #fafafa; border: 0px; color: #003569; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; vertical-align: baseline;">#eishstudentbudget</a><span face=", "blinkmacsystemfont" , "segoe ui" , "roboto" , "helvetica" , "arial" , sans-serif" style="background-color: #fafafa; color: #262626;"> is a personal finance blog that educates university students on their finances. Take the 'eish' out of student finances!</span></i></span></div>
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eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com1tag:blogger.com,1999:blog-3131452752612168104.post-72029652354041797342018-08-09T10:45:00.003+02:002023-03-30T04:10:54.737+02:00Why “eishstudentbudget?”<div style="background-color: rgba(255, 255, 255, 0.95); box-sizing: border-box; color: #3c362e; font-family: Alegreya, serif; margin-bottom: 1.5em;">
<em style="box-sizing: border-box;">eishstudentbudget</em> captures the essence of being a South African university student.</div>
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It depicts a reality that is exciting, yet financially taxing on most. You know, the word “eish” is a simple word that changes meaning depending on the context.</div>
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<span style="color: #959595; font-family: vollkorn, georgia, serif;"><blockquote>"Used in South African English and Afrikaans to express exasperation or disbelief, the word was first transliterated from the Xhosa language to Afrikaans, and then into South African English."</blockquote></span></div>
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Like, when you want to go out with friends and you check your bank balance using cellphone banking (’cause you fancy like that). Only to find that not only do you have no money, but your balance is negative. You owe the bank money!</div>
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<em style="box-sizing: border-box;">Eish!</em></div>
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eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com2tag:blogger.com,1999:blog-3131452752612168104.post-45159196598580375832018-07-15T11:56:00.003+02:002023-03-30T04:03:30.891+02:00Money Quote of the Day 💸<br />
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<br />"If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed." Edmund Burke<div> <br />
<div dir="ltr">We may be unable to control many things in life, but what we can control is our spending. We can dictate where our money goes and how much we save (and invest). If we do not do this, we risk not knowing "where" our money went, and we risk not meeting our financial obligations. </div>
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One of the problems facing many consumers is not budgeting (and if we do, we do not do it well) and saving. This can lead to acquiring unnecessary debt, further putting oneself in financial harm's way.</div>
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<h2 style="text-align: left;"><span style="font-family: inherit; font-size: large; font-weight: normal;">Learn How to Create and Stick to a Budget and Cut Out Unnecessary Expenditures</span></h2>
It may be tempting to buy a R35 (approx. $2,63) cappuccino on a cold Johannesburg morning, but layer on warm clothing instead. A warm scarf, a beanie, and a pair of gloves will keep you warmer for longer. And at a lower cost in the long run.</div>
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<i>Skip the cappuccino; layer up instead. </i></div>
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<i>What are some of the ways you're commanding your money? Do you think you are not doing a good job of managing your money– how can you improve? Let me know in the comments section below!</i><br />
</div><br /></div>eishstudentbudget™http://www.blogger.com/profile/12801313576853848913noreply@blogger.com0tag:blogger.com,1999:blog-3131452752612168104.post-85738874590691607042018-07-12T02:51:00.012+02:002023-03-25T21:06:47.133+02:00Welcome to eishstudentbudget™ | Student Personal Finances<p style="background-color: rgba(255, 255, 255, 0.95); box-sizing: border-box; color: #3c362e; font-family: Alegreya, serif; margin-bottom: 1.5em; text-align: left;">
Welcome to the relaunch of <em style="box-sizing: border-box;">eishstudentbudget</em>!</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhN19l0De7jO-JLUHGO4JTb9I53LMWYBoMFXZ9bmkoAHErPDPDp0RfoGvX9KF5iSvlkTv2KJXsQ3XS7cGJAn4Uh9XaPQCMVoUSIqkgfLg8vvP5fSFNjCBb_UzQDa6dlB6fcS-vOq0StddmZQs_EQN25f4A3l1UNKtprsw8W9qPCDGMjY5euut0Rg8B2nQ/s800/eishstudentbudget-welcome-feature-image.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Image of cursive white welcome sign on a wooden handle on an open door." border="0" data-original-height="500" data-original-width="800" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhN19l0De7jO-JLUHGO4JTb9I53LMWYBoMFXZ9bmkoAHErPDPDp0RfoGvX9KF5iSvlkTv2KJXsQ3XS7cGJAn4Uh9XaPQCMVoUSIqkgfLg8vvP5fSFNjCBb_UzQDa6dlB6fcS-vOq0StddmZQs_EQN25f4A3l1UNKtprsw8W9qPCDGMjY5euut0Rg8B2nQ/s16000/eishstudentbudget-welcome-feature-image.jpg" title="eishstudentbudget-welcome-feature-image" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div>
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It is exciting to join the #FIRE community.</div><h2 style="background-color: rgba(255, 255, 255, 0.95); box-sizing: border-box; color: #3c362e; font-family: Alegreya, serif; margin-bottom: 1.5em; text-align: left;">Aims</h2>
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First things first. <em style="box-sizing: border-box;">eishstudentbudget </em>aims to achieve the following objectives:</div>
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<li style="box-sizing: border-box; margin-bottom: 0.375em;">Educate university students (hereafter referred to as “students”) on their finances;</li>
<li style="box-sizing: border-box; margin-bottom: 0.375em;">Bust fallacies that endanger students’ financial success;</li>
<li style="box-sizing: border-box; margin-bottom: 0.375em;">Be fun and entertaining; and</li>
<li style="box-sizing: border-box; margin-bottom: 0.375em;">Inspire students to secure their financial position.</li>
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Readers are encouraged to leave feedback in the comments section. Constructive criticism is welcome; it helps one to learn and improve!</div>
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Disclaimer</h2>
<div style="background-color: rgba(255, 255, 255, 0.95); box-sizing: border-box; margin-bottom: 1.5em;"><span style="color: #3c362e; font-family: Alegreya, serif;">Suggestions and/or information shared on this website by its author should not be taken as professional advice. The author of eishstudentbudget is not a registered financial services provider. As such, eishstudentbudget and its owner accept no liability whatsoever for any losses, damages, or pain incurred as the result of applying the advice given here. Information correct at the time of publication.</span></div>
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<em style="box-sizing: border-box;">What do you think of this first post? Provide feedback in the comments section below.</em></div>
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<em style="box-sizing: border-box;">Follow eishstudentbudget on these social media platforms:</em></div>
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