Budgeting can save you from financial ruin

INTRODUCTION

$9( you ever tried to use a voucher in a store only to be told that it’s no good for your items? It’s not a good feeling.

is the best way taondcornetarcohl your sfpineanndciinagl

UDGETING

goals. Here’s a guide to get started. Bciuadl cgoeltlianpgsceain tshaevedyifofiucufrltofminfaincainaǦl timveesrwybeolidvye ins.feeling the pinch of higher food and fuel prices and lteiovfeefsintnytdlheiest. mdiifdfidclueltcltaossafifsosrtdatrhtienigr

Seeing advice from owethu sSpimaceel,asnhee, wsahidoǣiDzs finyothuepfuitnaynoucer bsoumdegtehtinignywourcitainnugs,eitobpelacnomhoews muocnhthy.oulwthiloluspgehnidt caannd smavaeevyeoruy ty“ouusitahevaeavyetaolsiuttflrteoomdorfnainewya,nuitcpisaalnbreuucidensg”s.eatriyf thSihneg atdodredmtehmabt ethr eisimthpaotrytoaunrt bhuodngeest wabilol uotnylyowurorinciof myoeuaanrde ešpenses.

Her advice on steps to draw up

Before you start, get

a budget:

all your financial documents,

◗ Gather all your financial documents:

BThat’s exactly how it feels when you sign a contract to buy a car or a home.

Afterward, you realise there were hidden fees and terms in

◗ sutacthemaseynotus,risnavleasrtymselinpts,sbt atneǦ ments, recent water and elecǦ ctsrtaairctlieotmyanesntaatnstde, smstlaeitpnesmtfsoe, rcnrptesudfroictrhycaaosruedsr mtlaotogeenytthhoeu. r saovethragteyeošupceannsecsalpceurǦ

alǦ cfuylaotuerymouornmtholnytihnlcyoimnceomisea. Calculate your income: normal salary paid monthly after taš was deducted, use the net amount, but if you wor the fine print. Avoiding reading the fine print can lead to costly mistakes.

In our lead today we share why it is important to read the fine

◗ mfoeraynosuorfsienlfcomr ael,souchhavaes motahienrǦ tenance for a child, add that and ibwnercioatemusiete.dyofowyuonwuaorsrinyocfourmr ymeoovunarstrheiellyfs, uhasveetheaersnmedalinleastmaomnothu.nt you are compulsory pSaeytmpeanytms ethnatst

Determine your set and variable

usually stay the same that you expenses:

have to pay every month, such as your bond or rent, car loan, internet, water and electricity seornio’tutsaheeanltyhcchoannscee“suaenndcaesǦǨ sunmowe ayboouutnthoewparloldtuhcetrbeeifsotroe maing the decision to buy. reading the fine print mayhiinleǦ istoiuallǦydrbaeinaintgimperoccoenssu, mit icnagn,

Save time and money:

acntduamlloynseayvȄe ypooutevnaltui alblyleltairmge sums of money. f you’ve ever asiggrneemd eandtofocruamloeannt,syuocuh’reaspuatnǦ ting yourself at ris for agreeing uthopecyoeovmuerpnretontmhdaiotsfeytoyhuoeudarogranesoestmehtesoniltnd. foorrloeašnasmcopnleta, imn parnoyvicsoionntsrathcatst fsutalltyettahe owtheartepvaertmy coanneyritghhetyǦ tfeoe. l thaeye asruerereyaosuonanbolwy eenštaitclteldy print in any contractual agreement no matter how small.

We can never over emphasise the importance of budgeting in such difficult economic times.

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◗ eor smchoonothl flyeepsa. ymlsoenatdsdtahnayt sotahyǦ the same. ariable ešpenses tscauhiacnhnmgaeesnfgtrroaomncdemrgioiefnstst, h.futelosl,omeaondntdetrhaǦ, cweasrtteehagaotrhcyafvnoorhceawmpipetrehgnye“onucyircebšulpydeagnesdtǦ. maolcnuthlaltyeohnoweamchucahtyeoguorsypaend use your documents to confirm the figure.

Calculate the total for your

wsuhraptritsheastdeonwtanitlshetoroaavdo.id any

monthly income and expenses:

eoǦ poflerseiagsnocnosn, twrahcettshfeorrtahlel ysoarrtes

Protect yourself legally:

ionpgefnoirnag carbedanitcarcdc,opuunrtc, haapspilnygǦ bhuosminee, scsaer,“ouriphmeaelntht, oinrsburyaincgea. gnuitdheloinrye,seavreerydecsoingtnreadctt’so lpergoaǦl tect both parties, though they faarveouorf tehne pinarityiatlhlaytspresweendtstito.

ote that sometimes, contracts ompuoarinytthbseetomnbeuegttuoteatrliabrteefndlecofitntasncoedfrhbtoantinhǦ spoamrteieths.infgytohuat’rceoangtraeinesinagltoot “ofuciotemupnledšetersrmtasntdh,adt yoonu’tdŒouns’t wornitseidtheermhiroifnf gasanunaitmtopronretyanotr.

Find tips to help you start if you haven’t.

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By Vumile Mavimbela.

f your income is more than tyousrtaerštp. enosuesc,aint ius saegothoed epšlatcrae

mfasotneeryotroypoauycoanff syaovueridt.ebotus ocaf nǮͷaͲlǦs͵oͲuǦsʹeͲt’htehabturdeg“eutifroersmthualat ewšiptheonuste, shtohualtdymoauecaunpnͷoͲtpdeor cent of your budget. špenses on other categories must mae up ͵Ͳ and your savings and dHeobwtepveary,mifeynoutsr ʹešͲppenersecseanrte. more than your income, which iysoouftsepnenthdetcoaosemnuocwh,aint dmheanves to cut bac on your ešpenses.

hen your ešpenses ešceed your inǦ come, you have to find places

Change your expenses:

cinhaynogueryboudrgveatriwabhlerpeayomuecnatsn. spinedndcalteesgso, rsiuecshwahseereatyionug coaunt less or scrap categories such aešsepraciysienagtfhoormgye.m and rather avnanofrdtitahhibenelcgeloapepmšmpbeeeuintcswsheveset.ronyoycobuhuiwagrnoeogušrelpdiefytnyohsoeuenusr have a lot of debt, it will probably probably have to cut the set ešǦ penses or increase your income to yegonousaulermaeruynos. ut rbbeutdogsept ebnaldanlecess. thoaunr owthaetr iltegaall mcoeuannsselatnoddešcipplhaeinr it in terms that mae sense to myoius.unhdiserwsitlal npdreinvegnot ryoaussfurommǦ cinogntarnacyt hanindgwciollnstavieneydouinfrtohme getting burned in theffcuotursee., at toheennodwoaf nthdetdhaoyr,oiut’gs himlypuonrdtaenrtǦ

Know your rights:

stand your rights before signing atonysitghninagn.ytohuinagryeonu’t doobnli’tgafutelldy agree with, and should never oyalorloucwoaeryreconeud’rtsicenoltfomtdof obrientagpbralenesyswtuhiritnehdg. tRreaacdtsi,naggtrheemfiennetps,rai ntdibnecfonreǦ tbhueyhinegadparcohdeuacntsdchaansslaevoefydoeuǦ faesnsedtisngorohrecaolmthpirnotmheisfiuntguryeo.ur

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◗ and feedback

(Courtesy pic) If your expenses are more than your income, which is often the case, it means you spend too much and have to cut back on your expenses.