Savings

Cius said:
@AcidRazor: I track it with Microsoft Money. Thinking of converting to Nedbank's my financial life app though as then its automatic and I don't have to capture as many slips.
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I'm currently using it and I have to say it is pretty fantastic. The customization can be clunky at times but your options are nearly limitless in terms of calling things what you want to call them. Find it very convenient and low maintenance.
 
AlmightyBender said:
I'm currently using it and I have to say it is pretty fantastic. The customization can be clunky at times but your options are nearly limitless in terms of calling things what you want to call them. Find it very convenient and low maintenance.
Click to expand...

Thanks for the feedback. First person I have spoken to who has tried to customize it. Most people just let it run the pretty graphs for them. What I really need is the ability to let it auto-assign some transactions to a category, like my Telkom bill, and allow me to split up others. For instance I could spend R1000 at picknpay hyper and I want R800 to go to groceries and R200 to my gifts category. Does it allow something like that?
 
save more than you spend and you will be olrite!
 
Cius said:
Thanks for the feedback. First person I have spoken to who has tried to customize it. Most people just let it run the pretty graphs for them. What I really need is the ability to let it auto-assign some transactions to a category, like my Telkom bill, and allow me to split up others. For instance I could spend R1000 at picknpay hyper and I want R800 to go to groceries and R200 to my gifts category. Does it allow something like that?
Click to expand...

Yes! I split PnP purchases into 10 categories. Been using MS Money for 14 years.
 
Last edited:
yip!
do it a few times and you will get used to it.

no credit cards. no store accounts. no car payments.
yes bond. yes pension. yes RA. yes investments/savings.

you can do it!
 
pboy said:
yip!
do it a few times and you will get used to it.

no credit cards. no store accounts. no car payments.
yes bond. yes pension. yes RA. yes investments/savings.

you can do it!
Click to expand...

At the end of the month I will be "debt free" for the first time in 4 years. No car, no accounts. Just rent/electricity food and internets.

Still only manage to save 20% of salary after all general expenses :'(

Granted company already puts away
8% of gross for provident and matches it
High Profile Medical aid.

Wish they'd give me a housing subsidy
 
DrewChan said:
At the end of the month I will be "debt free" for the first time in 4 years. No car, no accounts. Just rent/electricity food and internets.

Still only manage to save 20% of salary after all general expenses :'(

Granted company already puts away
8% of gross for provident and matches it
High Profile Medical aid.

Wish they'd give me a housing subsidy
Click to expand...

Congrats. You are one of a few people that have that luxury. 18 million other people are not there yet. And I suspect the 9 million that are late( or no) payers, will never get out of it. Just be wise and invest that "extra" money instead of pushing up your lifestyle.
 
Cius said:
Thanks for the feedback. First person I have spoken to who has tried to customize it. Most people just let it run the pretty graphs for them. What I really need is the ability to let it auto-assign some transactions to a category, like my Telkom bill, and allow me to split up others. For instance I could spend R1000 at picknpay hyper and I want R800 to go to groceries and R200 to my gifts category. Does it allow something like that?
Click to expand...

Auto-Assign: yes it does this in two ways:
1) Once certain transactions reach critical mass they seem to be universally relabeled and auto-assigned e.g. go eat at Spur and it will be called "Spur" and assigned the restuarant label
2) You can set up your own rules based on a specific amount, or specific day, or specific text in the transaction details

Split Transactions: absolutely
 
DrewChan said:
At the end of the month I will be "debt free" for the first time in 4 years. No car, no accounts. Just rent/electricity food and internets.

Still only manage to save 20% of salary after all general expenses :'(

Granted company already puts away
8% of gross for provident and matches it
High Profile Medical aid.

Wish they'd give me a housing subsidy
Click to expand...

Dude that is plenty :) total savings of over 30% so you're doing great. Now stick to the plan and enjoy your life!
 
At the moment, I haven't managed to start saving. I paid off a large amount of debt last year with a year-end bonus. Yesterday I did open a Capitec account and have put some small change away. I plan on putting as much as I can into it every month.

It will become easier to do that as of next month though.:D
 
This thread has been very useful...so many things I never thought of and new ideas etc. Going to move things around and start walking forward instead of taking steps back...

Thanks for these tips here guys, awesome info! ;)
 
my savings sucked this month. need to still go analyze what happened. i smaak a newer car but i dont want the payment. have a bond and edgars. edgars is 6 months cash so i dont consider as 'debt'. but technically it is. think that may be just under/over 1k.

most disapointing aspect so far this year was my phone upgrade. did it for a purpose but i get pi$$ed off everytime i see whats it costing me. and when the SO saw my upgrade she got a similarly priced one so its pi$$ing me off x2.
 
My mandatory pension fund contributions work out to 14% of my CTC. Other than that I just put any spare cash I have into my bond at the moment. I think I have about 6 or 7 months salary tucked away there, but the last 6 months have been hectic so not much put into it recently.

I used to put about 5% of my salary straight into a unit trust but I stopped that when I moved as I wasn't sure what my expenses would be like. Need to start deliberately saving again!
 
AcidRaZor said:
I'm currently pumping every cent I have into debt. I know it's not a good idea, but the faster I pay this off the better / more I can save without having to worry about bull**** like interest. Again, I know it's not a good idea. (I do have retirement fund but it's not savings as in now)
Click to expand...

Paying off your debt in this manner isn't always a bad thing. The faster you can pay it off the better. Especially if the interest rates on the debt are high.
 
I downloaded and installed Microsoft Money Sunset Deluxe for Home & Business. The application is a bit overwhelming to grip...any tips you guys have for this application would help a load ;)
 
I track all my expiduture and savings in money dance! There is an app for ios and android as well which helps!

Currently saving 33% of my gross! I try not to waste my money! I'd rather work less and have more free time! So I spend less and hopefully one day will be able to work less haha!
 
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