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Iz­i­man­gal­iso & Jas­tine

Based on rec­om­men­da­tions by Mo­men­tum fi­nan­cial ad­viser Jas­tine Mu­sonza, fi­nance di­rec­tor Iz­i­man­gal­iso’s Tru­worths ac­count has been set­tled and she is pay­ing the ex­tra R750 a month into her credit card.

“The bud­get­ing ex­er­cise helped Iz­i­man­gal­iso to get to grips with where cuts could be made,” says Jas­tine.

Fur­ther cuts have been made to vari­able ex­penses such as elec­tric­ity and ve­hi­cle track­ing, free­ing up R1 000 a month, so fi­nan­cial di­rec­tor Iz­i­man­gal­iso even had a bud­get sur­plus.

Un­for­tu­nately, an un­ex­pected death in the fam­ily has slightly de­railed her plan, high­light­ing the need for emer­gency sav­ings.

“We had to ar­range a fu­neral and I ended up with a to­tal cost of about R5 000, so this has put a dent in my Novem­ber ex­penses,” says Iz­i­man­gal­iso. Tumelo & Mduduzi

Mo­men­tum fi­nan­cial ad­viser Mduduzi Mpusula says that the bud­get­ing ex­er­cise helped com­mu­nity phar­ma­cist Tumelo to track most of her ex­penses and es­tab­lish spend­ing trends.

“This has re­sulted in psy­cho­log­i­cal wins, such as pay­ing off and clos­ing her re­tail store ac­count and can­celling an un­der­used gym con­tract,” says Mduduzi.

This has im­proved Tumelo’s monthly cash flow by R700. In ad­di­tion, there was a 30% drop in cell­phone costs from R2 000 in July to R1 400 in Oc­to­ber, and Tumelo is com­mit­ted to shop­ping wisely for mo­bile data to re­duce these costs fur­ther. So, Tumelo has found an ex­tra R1 300 a month in her bud­get.

“I of­ten look at re­duc­ing my ma­jor costs, but I’ve come to re­alise that small changes make a big dif­fer­ence,” says Tumelo.

TUMELO

IZ­IMAN­GAL­ISO

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