How To Set Up A Budget In South Africa | Money Saving Tips For South Africans | Money Marx

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If you ask any successful person that had reached financial freedom early in life, they will tell you that setting up a budget and following it religiously, truly is the core principle of true financial success. But the word “budget” seemed to have gotten a bad rap and does seem like a really daunting task that discourages many people to even try it out.

If you do a simple search on Google, you will find hundreds and thousands of different ways to set up a budget and although the principle behind it is fairly simple, many people don’t actually know where to even start and will therefore just leave it altogether.

So in this video, I will be showing you a really simple, straightforward way to set up a budget that anyone can follow and that really helped me take control of the steering wheel of my own personal finances and indirectly helped me to save thousands every month!

To quote one of the giants in the personal finance world: “A budget is telling your money where to go instead of wondering where it went. You must gain control over your money, or the lack of it will forever control you.” – Dave Ramsey.

So please make me proud and take the first fundamental step towards your financial freedom and start by tracking your expenses and setting up your budget. If you are done with this, please watch my “Financial goals for 2021” video to see what you need to do next in order to climb the ladder to financial success this year.

Let me know down in the comments how your budgeting journey has gone so far and how you compare with the national average?

Here is a breakdown of the info covered in this video:

00:00 Introduction
01:00 1) Track Your Expenses
01:42 2) Categorize Your Expenses
03:32 3) Set UP Your Budget
06:07 4) Compare Your Budget
08:28 Take Home Message

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My name is Dr. Pieter Marx de Villiers, and I'm a Veterinarian turned Financial Advisor from South Africa who aims to retire by the age of 35. Follow me in my journey towards Financial Freedom in (hopefully) just 10 years! :)

This channel will help you achieve your Personal Financial Goals through the things I’ve learned and researched to improve my own Financial Health.

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DISCLAIMER

Whilst I am a Registered Financial Advisor under the FSCA as of June 2023, the content on this YouTube Channel and all of my other Social Media Platforms are for Educational Purposes only and should not be taken for Financial Advice. You and only you are responsible for your financial decisions and must therefore conduct your own research and seek the advice of a licensed Financial Advisor where necessary.

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