Cleaning Up Your Finances

Managing money isn’t just about how much you earn, it’s about how well you use what you already have. With the cost of living rising across South Africa, a growing number of households are embracing the concept of a financial spring-clean; a simple practice that helps identify wasteful spending and frees up extra cash.

The idea is simple: three times a year, take a day to go through your finances in detail, just as you would clean your home before a big holiday or family event. By doing this in March, July, and October, you can build smart habits and even set aside savings in time for December’s festive costs.

Here’s how a financial spring-clean works:

1. Audit your bank statements

Go through at least three months’ worth of bank or mobile money statements. Highlight debit orders or charges you don’t recognise or need. You’d be surprised how many people forget about an old app subscription or fitness membership they no longer use.

2. Cancel unused subscriptions

Look at subscriptions like DSTV and Netflix, data bundles, or delivery clubs. Do you really need all of them? Cancelling just one or two could save you R200–R300 a month.

3. Renegotiate contracts

Call your bank, mobile network, employer or supplier and ask for better deals. Comparing packages and switching suppliers can reduce your costs, often by hundreds of rands each month.

4. Close dormant accounts

If you have bank accounts or store cards you no longer use, close them. Many accounts have monthly fees even if you’re not using them.

By taking these simple steps, you could save over R1 000 per month; money that could go towards holiday spending, school uniforms, or an emergency fund. The key is to treat this like a regular routine, not a once-off event.

With a bit of time and attention, you can clean up your finances and head into December with less stress and more peace of mind. Because when your money is in order, the rest of life feels a little lighter.