“People Are Low-Key Rich”: Financial Advisor Breaks Down Monthly Expenses of R64k Salary, SA Stunned

• A local accountant who teaches people how to save money shared a monthly breakdown of a local household, detailing the amounts of necessities
• The clip shared on TikTok included essentials such as nanny payments, school fees, Wi-Fi costs, and food costing thousands
• Social media users were divided, with some shocked at the food figure and others relating, saying that was how expensive life was
• Briefly News caught up with financial expert Fulufhelani Mashapha to get practical tips on how to stick to your budget

The current economic crisis has Mzansi people counting every cent they spend on essentials in a bid to survive. One woman shared her household's monthly expenses, sparking a huge debate online about how to spend money wisely.

The clip was posted on TikTok by @itumelengp_moloto, attracting many views, likes, and comments from social media users who shared varied opinions.

Breaking down the budget

In the video, @itumelengp_moloto goes through another woman's budget, and it's significant. There's R17.5K for school fees, R1.8K for electricity, R1K for takeaway, and even R4K for a nanny. But the item that stole the spotlight was the groceries, which cost the mother R10K.

When @itumelengp_moloto got to the amount, she was shocked and joked, asking if the family was "eating oxtail on the rocks". A joke she also laughs at. The rest of the list included petrol, stokvel, Wi-Fi and airtime, all totalling R64,929.

Watch the TikTok video below:

Briefly News spoke with financial expert Fulufhelani Mashapha about how to resist the temptation of luxury splurges while staying within your budget. She explained:

"Accelerating the path to wealth often involves creating multiple income streams, such as dividends, business ventures, or monetising your skills through services. While the journey takes time, it is certainly achievable ."

Mzansi reacts to the grocery bill

Social media users flooded the comment section, debating the breakdown of household necessities. Many were shocked by the R10K food and the school fees budget, asking what the family was eating, and where the children were schooling. Some blamed Woolworths, saying their fancy foods and snacks were probably the reason for the R10K amount. Others, however, jumped in to say groceries were expensive, especially with kids, with some saying theirs cost more.

User @Nostalgia Bait said:

"People are low-key rich tjo😭😱 Bari '10k is reasonable for basics' like."

User @choc_lenyora shared:

"She's probably allocating some of the takeaways to groceries, because how do you only eat R1,000 takeaways as a family of five."

User @zibelezenkosinopi added:

"Guys, food is expensive. I am not even surprised at all."

User @ms_magwaza commented:

"They probably buy from Woollies - I’ve seen people with a budget of 8k for weekly groceries 😂"

User @Msyaya said:

"Budget equates my yearly budget 😂😂"

User @user88406037856256 shared:

"You’re being really mindful, Mama if you’re managing to keep your grocery spending at just R10,000. Prices are definitely steep these days! I’m spending close to R14k on a family of 4four"

3 Briefly News articles about food

• A woman showed how she defrosted packs of frozen chicken by hanging them on a washing line with pegs, like clothes on laundry day.
• A local lady found her helper grilling meat and preparing vegetables without asking, after returning when she noticed she had forgotten her charger.
• A young lady was shocked and disappointed by a sandwich she bought from Shoprite after she realised the contents inside were too little.

Updated by Hilary Sekgota, Human Interest HOD at Briefly News.

Source: Briefly News