Taking control of your finances has a profound impact on your overall wellbeing, resulting in reduced stress, improved relationships, and better self-esteem. Writing up a budget, tracking your spending, and creating a debt repayment plan will not...
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Listen: How I transformed my relationship with money
The power of taking back control of your finances Maya speaks to Zihle, the runner-up in the 2023 Absa City Press Money Makeover Challenge, about her personal journey and how – with the help of her financial adviser Anton Battiss – she has...
And the winner is…
The winner of the 2023 Money Makeover Challenge has been chosen. The 2023 Absa City Press Money Makeover boot camp has come to an end and once again, all of our candidates have shown what is possible in just six months. They are proof that the...
Funding your start-up
When Sello entered the Money Makeover Challenge, he was establishing a start-up business to manufacture eco-friendly straws for restaurants and retailers. He had taken out personal loans to purchase manufacturing equipment to produce the prototype....
Supporting a family through self-employment
When a Money Makeover candidate has a small enterprise, we always start with separating business finances from personal finances. This is the only way to understand whether the business is making money and where the weaknesses are. Raymond’s...
Setting your financial priorities
We may all have several financial goals and aspirations, but how do we decide how to order our financial priorities? Should we pay off debt or build an emergency fund? Should we be saving for our children’s education or for our retirement? A...
A will to protect your family
One of the most important tasks that the Absa/City Press Money Makeover candidates need to fulfil, is to write up a will. We spend so much time and energy on our families and making many sacrifices for them, yet most parents have not taken the time...
Planning to own a home
For most young people buying a home is a financial priority, but a home is a significant purchase and it’s important to get your finances in order first. Two of the Absa/City Press Money Makeover contestants are preparing for this big step. Molefi...
Managing family expectations
Managing family expectations may include having tough conversations with parents and relatives before you agree to help them financially. Setting boundaries with family members is always difficult, but if you do not look after your own finances...
Financial independence needs a plan
While financial independence is a goal many people aspire to, it means different things to different people. For some people, financial independence means having enough capital to provide an income that covers their expenses. This is the goal...
Previous Articles
A budget for your first paycheque
Before you spend your first paycheque on luxuries, make sure you draw up a budget. Once you graduate and start working, it may feel like you have won the lotto. You go from struggling student to having your first paycheque. This novel feeling of wealth is often short...
How to break the cycle of debt
A strong theme that emerged in the Money Makeover Challenge this year was the extent to which applicants have built up large amounts of debt in a short period of time. This phenomenon is driven by the rising cost of living and increasing interest rates. As households...
How to keep track of your spending
If your debt keeps increasing, then you are spending more than you earn. The first step to financial freedom is to keep track of your spending. Every year, the first task our Money Makeover candidates undertake is to see where their money is going – to take a detailed...
Listen: Six-month journey to financial health
The 2023 City Press/Absa Money Makeover Challenge has begun. This is the seventh year where I will work together with a team of Absa financial advisers to coach six contestants on their six-month journey to financial health. In this podcast I chat to Sarah Nkwana of...
The Money Makeover Class of 2023
Follow six ordinary South Africans as they take up the City Press/Absa Money Makeover Challenge and undergo a money makeover boot camp. I will be sharing their stories with you and hopefully inspire you to start your own money journey. Meet the Money Makeover Class of...
Money Makeover: Create your own financial freedom plan
This year has been undoubtedly the most challenging for contestants as they grappled with fallout of COVID-19 and the lockdown. Four of our contestants experienced a drop in household income, yet they still managed to meet all their goals set out in January. They are...
Listen: Money Makeover: How we reached our goals in just six months
In the final episode of our Money Makeover Challenge podcast, Maya (@mayaonmoney) and Mapalo (@womanandfinance) chat to the two winners Catherien and Nono about their journey and how they turned their finances around. In just six months these women paid off debt,...
Money Makeover: Making plans for bigger dreams
“Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.” – Earl Nightingale The true motivation behind financial freedom is to have the money to live our dreams – we just need a plan to get us there. While our...
Money Makeover: Planning for when you’re no longer around
Our Money Makeover candidates are all parents, so estate planning is a particularly important part of their financial plan. Read this article to get tips on what to look for when drawing up your will and making sure you have tax-effective estate planning. Follow the...
Listen: Money Makeover: Mistakes to avoid with your own business
In this, our fifth Money Makeover podcast, we chat to Elton Govender, senior enterprise development specialist at Absa, to provide some tips to those of us who are self employed or running our own businesses. Elton shares the guidance and tools he developed to help...