It’s no secret that South Africans are generally bad at saving, and as spending pressure intensifies, it ultimately becomes harder.
However a savings challenge can be both manageable and enjoyable for a family.
The 52 week challenge encourages participants to save R10 for every week of the year.
Alternatively try Bright Khumalo’s “10c challenge”. Each day he sets aside an amount equal to the day of the year, times 10c. Today, for example, he would save R20.10 – Day 201 of 2019 x 10c.
Over a year the rand challenge saves close to R14,000, while the 10c one falls just short of R7,000.
It takes 21 days to make or break a habit, savings should be a daily one.
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