Money Diaries: a month in the life of someone who earns R43 000

Last updated on 5th December, 2018 at 12:42 pm

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 is one month’s money diary from a 34-year-old software developer from Pretoria.

*Values rounded up to nearest rand.

Monthly income (after tax): R43 336

Monthly expenses

Tithes: R4 300

Bond: R9 500

Utilities: R1 500

Groceries: R2 500

Bank charges: R171

Toiletries: R1 500

Medical aid: R1 900

Car: R5 000

Car insurance: R1 200

Life Cover: R670

Clothing and clothing accounts: R3 500

Entertainment and ad hoc costs (work lunches, coffee etc): R4 000 (roughly)

School fees: R2 000

School transport: R500

After-school activities for my daughter: R600

General savings: R1 000

Retirement annuity: R800

Monthly deposit to my mother: R1 500

Money left at the end of the month: R1 195

“What I learnt”

“I cannot believe I spend so much on clothes and entertainment! I am a little disappointed in myself because I had promised to be more cautious with my spending and do things differently from when I had just started working (I wasted a lot of money on going out with friends).

“I also realised that I haven’t had time to properly sit down with my bank statement and go through my monthly spending. I tend to assume that as long as my family is taken care of and I have met my church commitments (I strongly believe in tithes), everything should be fine. But now I can see that I have no financial planning for the future besides my retirement annuity and a general savings account.

“I have decided to cut down on my shopping and from now on I will definitely split the bill when I go out with friends! I also need to visit a financial planner so I can work towards making smart financial decisions so I can do more to ensure that my daughter and I’s future is financially secure.”

Need help getting your finances in order? Contact a financial planner today and work towards a financially healthier you!