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Spring clean your finances

Finance & Money September 10, 2024 By Budget Insurance

Top of FormEvery year most of us participate in some form of “spring cleaning”, this symbolizes a fresh start after the winter months. The Proteas and the Gerbera Daisies are blooming, it’s a time to shake off the dust of colder months and prepare for the newness and the freshness that Spring brings.

 

This year we want to challenge you to do things a little differently Budget Bozza’s by spring cleaning more than just your physical environment but your finances as well.

 

 How to Spring clean your finances?

1. Review 

Have a detailed look at where you stand financially, from your bank accounts, debts, assets, and money owed. Knowing this helps you plan better.

2. Set Goals 

Clear goals help you stay focused and remember what you’re working towards. It could be saving for something special or paying off debts.

3. Make a Budget

List your income, expenses, saving and/ or investments. This helps you get a clear picture of where your money is going.  

4. Sort Out Your Debts

If you have debts, like credit cards or loans, think about how you can pay them off faster. Start with the ones that charge the most interest.

5. Check Your Credit Score

This shows you, how you handle your credit. This score has an impact on your ability to borrow money.  

6. Save For Rainy Days

Having an emergency fund is important, this is made up of 3 to 6 months of your essential living expenses.   

7. Review Your Insurance

Make sure you’re saving where you can with your insurance, with Budget you can get cover from as little as R6 a day.  

8. Plan for Retirement

It may seem like it’s far away but start saving for retirement now.

9. Keep Track of Your Progress

Check your savings, debts and investments regularly. To see if your money is growing and you’re on track with your goals.

10. Get Help 

If you’re not sure about something, ask for advice from professionals.  

 

These are our 10 tips to make this Spring-cleaning season different from any other. Enjoy the warmer days and a little extra cash in your pocket with affordable insurance from Budget Insurance.

 

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