Page 10 - TODAY Magazine Issue 1 2022 - Old Mutual

YOUR MONEY BEING SAVVY
Clever money moves at each life stage
Your budget is simply a plan for managing your money and it’s perfectly okay to tweak it as things change. Personal finance blogger Brendan Dale looks at the broad guidelines that will help you to stay on top of your financial goals.
OOne thing about life, and our money, is that nothing stays the same. Think about how your income
and expenses have changed over the years. Perhaps you got married, started a family, bought a car, invested in property or are assisting your parents financially.
STARTING IN YOUR 20s
It’s a good idea to establish healthy financial habits as early as possible. As you finish your studies and start your career you should be mindful
of the student debt you may already have, as well as the pressures and expectations placed on you by your friends and co-workers.
Focus your budget on maintaining a stable cash flow and follow the golden rule of budgeting: spend less than you earn. Making sure that you always have some money left over at the end of the month will set you up for success.
GOAL
> Put away 10% of your income each month.
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8 | ISSUE ONE 2022