Financial tips

Women doing it for themselves – useful financial tips to help you take control of our finances

In celebration of women’s month, we share a few simple financial tips that you, as a financially independent woman, can implement as part of your journey towards financial wellness:

  • Take charge of your finances: Taking control of your finances and making important financial decisions is not always easy and it might seem easier to just pass this big responsibility on to your spouse or family member like a brother or father. However, you will feel more in control and empowered if you can manage your finances all by yourself.
  • Create a budget: A budget helps you to track your income and expenses so that you know exactly how much you earn and what you spend your money on. It also helps you to keep track of your debt re-payments so that you do not fall behind on re-paying your loan accounts. Remember to stick to your budget and to update it on a monthly basis.  
  • Where to save and where to splurge: It is not easy to  cut expenses from your budget. Start by including your essential expenses such as rent, medical aid, insurance, vehicle finance re-payments and any other loan accounts. You can contact your financial service providers, like your medical aid, to enquire regarding cheaper options available to you. In terms of your variable costs, such as groceries, make a list of all the items you bought during the month and have a look at which items you can leave out of your shopping basket next month.
  • Invest wisely: Start investing wisely now and your future self will thank you for it. Make sure that you have a retirement annuity and investment plan. Iemas Insurance Brokers, a wholly owned subsidiary of Iemas Financial Services, offers various savings and investment plans (including retirement annuities) that will meet your needs and help you reach your goals.
  • Start a side hustle: Want to make extra cash?Start by looking for opportunities online, there are many companies looking for part-time consultants or sales representatives. Think cosmetic brands, online tutoring or even your own side hustle like baking or repairing clothes.

Live Financially Well with Iemas Rewards

Did you know that by taking up an Iemas product you automatically sign up for our rewards programme? You earn points for each qualifying product you take up with us as well as for financial behaviours. The more points you have, the higher your rewards level and the more your cashback will be. Earn your cashback quarterly when you have an Iemas Purchase Card. Click here to find out more. Alternatively you can contact us on: 0861 043 627, rewards@iemas.co.za, or visit iemas.co.za.

Source: https://economictimes.indiatimes.com/8-money-tips-for-women-in-the-new-year/tomorrowmakersshow/70275040.cms

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