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...
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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...
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...
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...
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...
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...
The Money Makeover Challenge is looking for you!
The City Press Money Makeover Challenge is once again open for applications. There are only six places available so only the most committed applicants will be considered. If your debt keeps you awake at night and your money is running out long...
Listen: Find the courage to change your financial situation
2022 Money Makeover runner-up Zinzy says that when she entered the money bootcamp six months ago, she needed to find the courage to have difficult discussions with people who owed her money. In this podcast discussion, Maya (@mayaonmoney) is joined...
Listen: Six months to turn you finances around
It is possible to fix your finances in just six months. The Money Makeover Challenge has proven this over and again. The stories from the candidates who enter the Challenge are testament to the fact that financial freedom is not about miracles. It...
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...
Previous Articles
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...
Money Makeover: Common mistakes entrepreneurs make
While Bellah is never short of new ideas, the problem has always been the financial management of her businesses and her cash flow. Last year her construction business had a turnover of R1.3 million, but she had no idea whether she was making a profit. Her business...
Money Makeover: Use a side gig to meet those money goals
A side gig where you offer your skills or services can be a great way to earn some extra cash to settle debts, start investing, or provide for those luxuries. However before you start, you need to do your homework and make sure you understand whether this is going to...
Listen: Money Makeover: How to invest in property
Have you fallen into property investing by accident? Are you an existing property investor looking to consolidate, or planning on buying your first property? In this podcast Maya (@mayaonmoney) chats to Miguel Martins of Absa Home Loans, a property investor himself,...
Money Makeover: Lessons in planning a successful property portfolio
Like many ad-hoc property investors, Colen has largely fallen into property investment by accident, grabbing opportunities as they arose. He has built a property portfolio of five properties which has put him under financial pressure. His Money Makeover journey has...
Money Makeover: Talking money so that your partner will listen
Any financial journey cannot progress unless your partner is on board. If you share a household, you share your finances. Money is a highly emotional topic; it is cited as the number one reason for divorce. So, having a relationship where you can speak openly about...
Money Makeover: Adapting financial plans for the lockdown
For our Absa/City Press Money Makeover candidates, the COVID-19 lockdown has been an unexpected obstacle on their journey to financial freedom. While Mishack has lost out on overtime pay, Colen is worried about his investment properties and Bellah’s construction...