Financial Planning

Mid-year goals check-in: 10 Smart steps to kickstart your savings

In an unpredictable economy, learning to save is not just wise; it can be life changing. Regardless of your income level, mastering the art of saving can set you up for a more secure, confident future.

Get practical

Here is how to make saving work for you:

1. Start with a goal

Whether it is an emergency fund or a dream holiday, a clear savings goal helps you stay focused. Not sure where you stand? Use tools like the Sanlam Financial Check tool to get your bearings.

2. Budget like a pro

A budget gives you control over your money. Track your income and expenses, then treat your savings like a must-pay bill each month.

3. Make saving automatic

Start small if you need to, but stay consistent. Automate your savings with a debit order so it happens without thinking.

4. Use the 50/30/20 rule

A general budget rule is to spend 50% on needs, 30% on wants, and 20% on savings or debt. This helps you enjoy life while building your financial future.

5. Cut the extras

Limit impulse buys, takeaways and subscriptions you do not use. Redirect that cash to your savings account.

6. Tap into discounts

Take advantage of loyalty programmes and discounts, like those offered by Sanlam Reality, to stretch your money further.

7. Earn more, save more

From freelancing to selling your skills online, side hustles can supercharge your savings.

8. Dodge the debt trap

Understand your credit and tackle high-interest debt early. Use dashboards to monitor your credit health.

9. Think long-term

Once you have built an emergency fund, explore low-risk investments. A financial adviser can help align them with your goals.

1. Start with a goal

Whether it is an emergency fund or a dream holiday, a clear savings goal helps you stay focused. Not sure where you stand? Use tools like the Sanlam Financial Check tool to get your bearings.

2. Budget like a pro

A budget gives you control over your money. Track your income and expenses, then treat your savings like a must-pay bill each month.

3. Make saving automatic

Start small if you need to, but stay consistent. Automate your savings with a debit order so it happens without thinking.

4. Use the 50/30/20 rule

A general budget rule is to spend 50% on needs, 30% on wants, and 20% on savings or debt. This helps you enjoy life while building your financial future.

5. Cut the extras

Limit impulse buys, takeaways and subscriptions you do not use. Redirect that cash to your savings account.

6. Tap into discounts

Take advantage of loyalty programmes and discounts, like those offered by Sanlam Reality, to stretch your money further.

7. Earn more, save more

From freelancing to selling your skills online, side hustles can supercharge your savings.

8. Dodge the debt trap

Understand your credit and tackle high-interest debt early. Use dashboards to monitor your credit health.

9. Think long-term

Once you have built an emergency fund, explore low-risk investments. A financial adviser can help align them with your goals.

TOOLS

Try these helpful tools to support your savings journey

Create a Budget Discover your Money Personality

Every Step Counts

10. Celebrate progress

Mark your milestones. It keeps motivation high without derailing your budget.

Ready to start saving?

Get in touch

Saving is not about sacrifice, it is about freedom.

Contact your Sanlam financial adviser to help you on your journey and build the life you want, one step at a time.

Mandla Dlamini
Sanlam Financial Planner
0781894413
Make contact on my digital business card

By clicking on “Submit”, you acknowledge having read our privacy policy .

Looking for expert advice?

Speak to a financial planner

05158346

Mandla Dlamini
Sanlam Financial Adviser
0781894413
Make contact on my digital business card

Liked this article?

Share on social media