Despite South Africa being one of the leading economic powerhouses in Africa, 2019 has seen a downturn in economic growth with greater pressure being placed on the end consumer.

The added pressure has dampened consumer spending and, according to reports released by the South African Reserve Bank, has left total consumer debt figures sitting at an estimated R1.73-trillion.

While many South Africans have the best intentions at the beginning of the year to cut back on spending and try to save more, being able to take full control of their budgets can sometimes be easier said than done.

According to Vera Nagtegaal, executive head of online financial comparison website,, when it comes to saving, a written budget is essential for managing your hard-earned cash and working towards short-and-long-term goals – including paying off unnecessary debt.


“There are many common mistakes people make when it comes to budgeting, which can easily be avoided.”