Financially Flourishing: Paying Off Bond in 5 Years and 3 Other 2024 Money Tips That Had SA Talking

• In 2024, many South Africans took to social media to share financial tips, with some techniques standing out
• While some shared what to do with monthly incomes under R5 000, others grouped to save money
• Briefly News listed four viral stories about saving cash that had many members of the online community talking

With each passing year, innovative ways of managing finances emerge, reflecting the evolving needs and challenges people face.

This year, a few money tips stood out, sparking conversation across South Africa and inspiring individuals to rethink their financial habits.

Money tips Mzansi loves

From budgeting hacks to investment strategies, a few South African content creators and money experts shared how they navigated their finances with a few simple steps on TikTok.

Briefly News compiled a list of four financially savvy techniques that had Mzansi online users talking.

Debatable R4k monthly budget

A personal budget coach, Fulufhelani Mashapa, sparked a debate by sharing a detailed budget for a monthly income of R4 000. The breakdown included rent and utilities, groceries, and savings.

Read also

"Everyone thinks I do drugs": Oom shares what it's like being homeless in SA

Strategically stretching R100 monthly

A South African TikTokker shared his survival strategy on a R100 monthly food budget. After he mentioned that he got his affordable groceries from Shoprite, many social media users admired his resourcefulness, while some questioned the food's quality.

Paying off a bond in 5 years

Home loan specialist Bakang Mokgautsi shared that homeowners could significantly reduce the repayment period for their bonds by paying extra towards monthly repayments.

He also shared examples to help South Africans better understand his explanation.

Flourishing with a friendship stokvel

A local woman shared her viral money-saving scheme online. To cope with the country's high cost of living, she started a stokvel with her best friend, contributing R2 000 on their respective paydays to support each other.

The innovative approach ensured they avoided being broke before the next cycle.

Feeding a family of 8 with R3.5k

Read also

"Don't do that": Mom overspends after daughter gives her bank card for shopping, SA's amused

In another story, Briefly News reported about a South African woman who shared her mother's budgeting secrets of feeding a family of eight with a monthly income of R3 500.

The woman demonstrated how to hunt for specials and discounts, maximising the value of every rand spent. She also compared prices and tracked expenses to ensure she stayed within the budget.

Source: Briefly News