Meet Fulufhelani Mashapha, the Finance Guru Helping SA Budget on a R10K Salary

• Fulufhelani Mashapha, an Actuarial Specialist and influencer, is using YouTube and TikTok to teach South Africans how to manage their money
• The former Limpopo top matric showed netizens how to budget on different salaries, including R10 000 and R25 000 earnings
• Talking to Briefly News, the financial guru shed some light on her own personal growth and how other people can follow in her footsteps

Fulufhelani Mashapha is the influencer we all need. The Actuarial Specialist and One Young World Ambassador is using her skills to teach South Africans how to manage their finances better.

It's 2024 - we live in a post-COVID-19 pandemic world. Economies are still rebuilding, the cost of living is soaring and South Africans are grappling with the consequences.

That's where Fulufhelani Mashapha's guidance becomes invaluable. While she does not have the power to alter the country's economic state or reduce the prices of petrol, she can equip South Africans with the tools to optimise their incomes.

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Navigating financial struggles during COVID-19

The COVID-19 pandemic feels like a bad dream now. But, over four years ago, the world was thrown into a healthcare and financial crisis. The virus took more than lives - it cost people their jobs, caused businesses to shut down and devastated economies.

Fulufhelani saw the overwhelming financial burden associated with the pandemic first-hand.

"A story that's close to home: my sister's employer cut their salaries by 50% during COVID-19 and it was a tough time for her. We started exploring different avenues, from credit life insurance to negotiating debt repayments to help her survive the rough patch."

Mashapha's sister encouraged her to share her knowledge with the rest of the country, leading to the birth of her YouTube channel.

From top matric to author and financial guru

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Thousands of South Africans have benefited from Mashapha's tips. The YouTuber has always been dedicated and hard-working. In January 2016, Mashapha was named Limpopo's top 2015 matric pupil with seven distinctions.

Mashapha has always been a numbers girl, getting 100% in mathematics in the final matric exams. She also got 100% in physical science.

Her upbringing instilled a sense of responsibility:

"I grew up in a family that valued education, hard work and independence."

She went on to study Actuarial Sciences at the University of Cape Town. Aside from working as an Actuarial Scientist and growing a social media presence, Mashapha also added 'author' to her impressive resume.

She published a book Mind Your Cents, which aims to help people identify financial goals and the budget skills to reach those goals:

"It also discusses extensively the topic of credit scores and how one can maintain a good credit record as well as methods one can use to get out of debt and their advantages and disadvantages."

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How to budget on R10 000 monthly salary

Mashapha has broadened her social media reach to TikTok, posting helpful money management videos on the popular social media platform.

In one of her videos, Mashapha helps people earning R10 000 a month make the most of their income.

Check out Mashapha's video below:

Speaking to Briefly News, Mashapha revealed that budgeting is not a one-size-fits-all approach.

"I think budgeting is personal. We may earn R10 000, but due to our different circumstances, we end up with completely different budgets. One rule of thumb one can use as a start is the 50/30/20 rule, where 50% goes towards your needs, 30% towards wants and 20% towards financial goals."

Mashapha added that the method only works for some, and some might opt for a more realistic 60/20/10 rule.

Common misconceptions about personal finances

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Mashapha said people think they need to have a lot of money to learn how to manage money well. In reality, the aim is to live below one's means and contribute a part of earnings into a savings account or investments.

"If you earn R200 000 and keep nothing, you are worse than someone who earns R10 000 but keeps R6K every month."

Striving for personal excellence

Mashapha is an avid reader whose mantra is to be the best version of oneself in all aspects of life. She highlighted the importance of discipline, commitment and continuous self-improvement:

"Always work on yourself and become better than you were yesterday; be committed to putting in the work no matter how tough it may be."

Growing up in Mukumbani taught Mashapha valuable life lessons, including how valuable one's community is. She witnesses how families built wealth by focusing on long-term gain while meeting short-term needs.

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She told Briefly News:

"We cannot afford to live as though tomorrow doesn't exist; even if we are not there physically, our kids, parents or siblings may see tomorrow, so we must prepare for such too."

Car saleswoman helps South Africa budget in different price ranges

In another story, Briefly News reported on a car saleswoman who gave budgeting tips to people looking to buy a car.

In a TikTok video, @nkosazana_carlady gave estimates on monthly instalments based on how much cars cost. She advised people not to shop for cars in price ranges more than what they can afford with their salaries.

Source: Briefly News