By Krantz Mwantepele
Be in control of your money—where it comes
from, how you use it and how it makes you feel. Only in the past few months
have I realised what financial freedom truly means to me: enough money to pay
for my basic needs (including fun), plus enough in the bank to float my family
in case of an emergency, and savings for the future as I elaborated on in my
previous post Change Small Habits To Maximise Savings
But I was raised to think that money (or the lack of it) was in
control. I grew up with
the understanding that earning money is always very, very hard. There was also
a message that money would make everything better.
My sense of financial empowerment continues to evolve. Over the
past four months, while participating in the savings challenge, I gradually
understand that saving today creates a better future.
Since I started this savings journey, I’ve realised that this is
life changing. Now, when I get bonuses and raises, I’m not tempted to spend the
money. I take at least half of this newfound cash and put it into a savings
account.
Although I have savings goals and I’m on track with those, I’ve
also realised I have big dreams I’d like to fulfill. I’d like to travel the
world with my family and invest in startup companies.
When it comes to my retirement savings, my 40s are a great time
to sit down with a financial planner and take a look at my complete savings
picture.How much of a shortfall is there? What are the setbacks? What are the
most effective ways Ican grow your money?
Again, it all comes down to maximizing my contributions. Now
that my children are older, my expenses may have changed, so it's a good idea
to go through mybudget line by line and identify places where I can cut back. I
can then take any additional money and put it directly into my saving account
No matter where you
are on your financial journey, you need to know that it’s possible for anyone
to turn their financial life around. Sometimes all it takes is that first step
in the right direction to get things moving in your favour. But, as with most things,
sometimes that very first step is the hardest part.
This is the fifth article in a series of sponsored posts for the
Barclays Savings Challenge. Follow the discussion on Twitter and Facebook and
share your own experience by using #AfricaSaves.
Visit the Barclays website for more information on the savings
accounts available to you.CLICK HERE for more information.
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