Manage Your Own Personal Finance By Following These Easy Steps

Manage Your Own Personal Finance By Following These Easy Steps

At some point, individuals have to find ways to manage the money that they have. What makes it possible for a person earning minimum wage to be able to put their kids through school, while a young professional earning thousands of rands is always behind on payments due? Even though there are a number of unique factors that apply in each case, chances are that personal finance management habits form part of the problem.  

Having your own money requires effective ways to manage it. Many South Africans are familiar with comical assessments of poor money management by individuals in the middle class. “Mampara week” has become known as a staple in the monthly commentary of offices all over the country, not to mention on social media. For many working class individuals who experience this phenomenon, which is generally the week before payday, finding ways to manage personal finance can be a saving grace. 

How you can manage your own personal finance: 

Create your own personal budget 

A budget is a simple, yet effective tool for making it easy to manage your own personal finance. Creating one should also be complemented by setting attainable goals – making it easier to stick to the budget. If you know that you want to save a particular amount of money monthly, then knowing exactly how much you’re spending is a good start. Using the information in the budget can help you make changes wherever necessary. 

Develop your financial intelligence 

Knowing how your finances work is a good place to start. You need to have a positive mindset about how to manage your money. Track everything by using apps to gain better insight into your personal finance. 

Limit the number of cards you have 

If you have too many credit cards, you are more likely to overspend. If you rely on cash, you’re less likely to spend what you don’t have. 

Find new ways to earn money 

It’s important to keep exploring your skills and to use them in order to make more money. 


A good habit to adopt is to pay yourself first. The rule of thumb is to take 10% of your earnings and to put it into a savings account.

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