We have to make plans all the time. Maybe there is a taxi strike, so you must make an alternative plan to get to university or work, alternatively or your want to save for a special goal.

But very often we neglect to plan how to use our money wisely. If you receive an income, whether that is through a salary, a social grant or a stipend, or a combination of these, then you should have a plan for how to spend it.

Saving is something we hear a lot about. We all know we should be saving for our financial goals such as: emergencies, buying a home or a car and retirement but often getting started is difficult. 

WHAT IS CREDIT?

Credit refers to an agreement to buy goods or services with the express promise to pay for it later, with interest. You may have lent someone something and had the unfortunate experience of the item being returned in a poor condition, late or never returned at all. Not returning goods on time or returning them in a worn state, is like borrowing money and either not making the repayments on time or not paying the interest on time.

One of the most common financial mistakes that people make is failing to plan for the risks that we all face in life. There are many risks that we can expect:

If you drive a car, you are likely to get a flat tyre at some point, as a driver you plan for this eventuality by having a spare tyre and a jack to change the flat tyre when it happens.

In our financial lives we can take similar precautions by planning for some of the risks we will all face to reduce the financial shock.

When you start working and earning a salary, you will get a payslip. You will notice some deductions and new terms which you need to be aware of. Knowing what to expect will help you budget better and be financially capable as well as ease some of the stress you may experience.

Mental health includes our emotional, psychological, and social wellbeing. It affects how we think, feel, and act. It also helps determine how we handle stress, relate to others, and make decisions. Mental health is important at every stage of life, from childhood through to adulthood.

In South Africa, we have consumer protection laws which means that you have rights and there are ways to exercise these rights.

Having a poor experience with a financial institution or person can be overwhelming and you may not know where to turn. Knowing what to do and who to talk to can relieve some of this stress.

Managing your money doesn't have to be hard. We want to make things simple for you -use our helpful tools and resources to stay on top of your finances and start growing your wealth.

Catch up on the previous radio talk show and stay in the know. Browse our past our past radio talk show section to Listen to insightful discussions from experts. 

The L+EARN Webinar series is packed with topics on managing your money. The webinars are interactive and feature young people and expert guests.

The global pandemic has taught us the value of having income coming in from different directions. Hustlers are clear on having a diversified form of income to ensure that your resourcefulness enables you to be financially resilient. 

Some of us enjoy the opportunity that comes with exploring the challenges before us. We see these obstacles as a reason to have enthusiasm for the world around us because we see an opportunity to make some money.  This is driven by a mindset that is focused on finding solutions to the problems that surround your environment. It is informed by a curious mind. The ability to take the solution from concept to profitability is what is called an entrepreneurial mindset.