Publish Date: 07/03/2019
When I started working, I was in my third year at University. I worked as a junior accountant in a family business. I earned a total of R3 500 per month! Although it was not a lot of money, for a student with little responsibilities, it felt like a lot!
Even though I did not have a grand goal for my money, I knew that I had to save. My mother had told me to! So, from my little riches, I started saving 10% (R350) every month. By the end of the year, I had put away R4 200, not counting the interest I had earned.
You are probably asking yourself why I am telling you about my first job and what I used to make? It’s because I often think about the lessons I learned from that experience and I like to tell the story at my speaking engagements or workshops.
Can you save money? Is it easy to do so? The answers to the two questions are: yes and yes!
Don’t get me wrong, I know our financial decisions are also informed by what’s happening in our lives. There are many reasons why a lot of people feel they cannot save. Perhaps you have a big family to take care of, or you are working and funding your own studies. That’s why it pays to make saving a part of your life, instead of viewing it as just another expense.
Lessons from my experience:
Regardless of your situation, having savings is an important part of our financial lives and building the habit of saving, is priceless.
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.