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Are you reaching your savings goals?

By: Natasha Archary

your savings goals
Image: Adobe Stock

We’re two months into 2024 and after surviving “Janu-worry”, the real question is how are your savings plans going?

The more important question is, do you have enough saved up for December 2024, or are you banking on receiving a bonus at the end of the year?

If there’s one thing Thomas and Skhumba have learnt over the years, it’s to always be prepared for that rainy day…today.

This is why they wanted to know if listeners were confident they would reach their savings goals this year.

Listen to the conversation on Kaya Drive:

Here are a few tips to guide you to reach your savings goals:

Build an emergency fund – This cannot be stressed enough, especially if you don’t have medical aid, insurance, and funeral policies. You need to have money put away somewhere as your emergency funds.

Budget, Budget, budget – Nothing beats planning how you spend your money. Learn to accept that when money is gone, it’s gone. Don’t force overspending. it’s really unnecessary.

Have saving goals – What are you saving for in the short-term and the future? It’s important to know this to make your life easier, avoid mixing up the two. Have a saving plan for your children’s university’s expenses, retirement, or vacations and give all of them all category.

 Force yourself to save – Make a debit order that goes out instantly into a savings account when you get paid, ignore it and have peace of mind.

Get your retirement goals sorted out – Start saving for your retirement as early as possible. Very few people get rich through their salaries alone.

Don’t spend your bonuses and tax refunds – When you receive a work bonus, inheritance, contest winnings, or tax refund, you need to settle your debts and save a big portion of it.

Also read: How much are South Africans paying for streaming services?

Written by: Natasha



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THIS PRIVACY STATEMENT FORMS PART OF KAYA 959’S TERMS OF USE POLICY. IF YOU DO NOT AGREE WITH ANY TERM OF THIS PRIVACY STATEMENT, YOU MUST CEASE YOUR ACCESS OF THIS WEBSITE IMMEDIATELY. 

POPIA ActTo promote the protection of personal information processed by public and private bodies; to introduce certain conditions so as to establish minimum requirements for the processing of personal information; to provide for the establishment of an Information Regulator to exercise certain powers and to perform certain duties and functions in terms of this Act and the Promotion of Access to Information Act, 2000; to provide for the issuing of codes of conduct; to provide for the rights of persons regarding unsolicited electronic communications and automated decision making; to regulate the flow of personal information across the borders of the Republic; and to provide for matters connected therewith.

RECOGNISING THAT—

  • section 14 of the Constitution of the Republic of South Africa, 1996, provides that everyone has the right to privacy;
  • the right to privacy includes a right to protection against the unlawful collection, retention, dissemination and use of personal information;
  • the State must respect, protect, promote and fulfil the rights in the Bill of Rights;

AND BEARING IN MIND THAT—

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AND IN ORDER TO—

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1.1.“Personal Information” means information relating to an identifiable, living, natural person and where it is applicable, identifiable, existing juristic person, including all information as defined in the Protection of Personal Information Act 4 of 2013. 

1.2  Parliament assented to POPIA on 19 November 2013. The commencement date of section 1Part A of Chapter 5section 112 and section 113 was 11 April 2014. The commencement date of the other sections was 1 July 2020 (with the exception of section 110 and 114(4). The President of South Africa has proclaimed the POPI commencement date to be 1 July 2020.

 
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4.2.2.4. URLs of internal pages visited; and 

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  1. Queries

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