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)
Rent: R8 000
Groceries: R3 000
Petrol: R1 800
Medical aid: R1 900
Cell phone: R595
Bank charges: R150
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.
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