Life seems to be getting expensive with every year. We find ourselves struggling to set aside money as the standard of living just keeps evolving. Maintaining a lifestyle has become superior to living within your means. I’ve heard people say that even if you earn less than R5000 you should still be able to save irrespective of your responsibilities.
People make ways to stretch their salaries every month to achieve certain financial goals. An entertainment section in your monthly budget is significantly cut short when you obtain bigger assets. As young people we all want to feel a sense of achievement with buying our first car or finally moving out. On an entry level salary depending on which industry you work in, it is advisable to take on one big thing at a time.
But looking at the bigger picture, is it a matter of prioritizing or learning how to save for what we want? Patience and competition do not work well together, we aren’t at the same levels. So the question is, can we really save and are we motivated to? The first thing a young person will say is that they don’t earn enough? How true is this though?
Saving is actually a double edged sword looking at it carefully. Young people believe if your going to save it has to be a big amount, not realizing that it can start from small amounts. There’s no amount set or guideline for saving, if you want to do it then it’s as easy as commitment to the cause. We must also remember that sometimes putting away R50 every month for no reason could actually help in the long run when you might need it.