Financial Planning

Have a Personal Finance Day every month

By: FNB
Just as we all enjoy a day to ourselves; be it for shopping or a day at the spa – everyone should have a Personal Finance Day.
What is a personal finance day? “A Personal Finance day is a day set aside each month to sort out your personal finance needs. This will help you better manage your finances and help you ascertain your budgeting goals, expenses and savings for the month ahead. Eventually this practice will become a habit, which will make your life much easier,” says Ester Ochse, FNB Financial Advisory Product Specialist.
She adds that, “This day should be circled in your calendar and should be adhered to diligently to ensure that you better manage your finances for the month. It’s not difficult; it just needs commitment and dedication to ensure that you meet your financial objectives and goals every month.”
Ochse says that “It’s never too late to get started with your finances. Decide on a date each month and stick to it. Sort, label and categorise your excel budget sheets according to your finances, personal or business expenses, savings and entertainment. Ensure that you keep your monthly bills, invoices and receipts in a personal finance box. Alternatively; you can access all your expenses and payments via your online statements.”
Managing your finances can be tedious for some; but it also gives you the opportunity to tap into your creative side.  Draw up a personal finance journal which will help make budgeting a fun and easy process. Use colour pens, markers, sticky notes, creative icons to make it even more fun.  
“Managing your finances is the first step to financial wellness and success. It also helps determine whether you have enough money for your retirement; your child’s school excursion or even that mid-term holiday break to Cape Town
We live in a changing economy where the cost of living continues to rise. The bottom line is that we need to manage our finances now. Being over budget or left with no money can put a huge strain on our pockets which could impact on our health,” concludes Ochse.







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