Money Diaries: a month in the life of someone who earns R31 000

Last updated on 12th December, 2018 at 09:05 am

We asked real South Africans to share their money diary for a month with us. Why? So that you can see how real people earn, spend and save – and how they can save more with just tiny (almost painless!) lifestyle tweaks. Here, one month’s money diary from a 34-year-old Senior Designer from Cape Town.

*Values rounded up to nearest rand.

Monthly income (after tax)

R31 885

Monthly expenses

Rent: R8 000

Utilities: R950

Groceries: R3 000

Petrol: R1 800

Medical aid: R1 900

Cell phone: R595

Internet: R720

Bank charges: R150

Gym: R189

Toiletries, medication etc: R320

Student loan repayment: R3 000

Cleaner, twice a month: R500

Clothing: R1 000

Car expenses (ad hoc): R550

Entertainment: R1 500

Credit card repayments: R250

Gap cover: R369

Work coffees and lunches: R1 020

Loyalty programmes: R195

Income protection: R162

Car repayments: R5 700

Money left at the end of the month: R15

What I learnt

“I normally buy coffee on my way into the office two to three times a week. And because I’m so busy at work, I also often buy lunch – like a wrap or sandwich, which is around R45 – from the café in our office building. But realising that I spend over R1 000 a month on coffee and take-out lunches is crazy! I didn’t realise how quickly just those two things added up to until I kept a money diary for the month. That’s definitely the easiest way for me to save an extra R500 a month. If I cut my coffees to two a week, and my bought lunches to one a week – for those really hectic days – I’ll already saved about R600.

“I’m still paying off quite a bit of debt, from my car and my credit card to my student loan. My monthly money diary has also shown me if I cut out fancy coffees and pre-made café lunches entirely, I could save R500 a month and put an extra R500 a month into paying off my debt faster. Definitely time to start making my own lunches on a Sunday for the week!”

What should you do with the money left over each month? Consider an investment, so that you’re working to secure your financial future. Speak to a qualified financial planner to find the best options to suit you – request a meeting here. And remember: as a Sanlam Reality member, you can get up to 100% off primary asset management fees with Sanlam Investment’s flagship funds. Find out more, here.