South African mothers are experts at juggling various tasks and taking care of financial commitments. Not to mention – while taking care of their extended loved ones AND holding the fort at home. They are true superheroes. And, if you think about it, they make those things deemed ‘impossible’ actually happen.
“You and I can learn a few tricks from our mothers (also known as role models). Mothers’ knowledge and practical experience can come in handy, especially when making sure the financial obligations (together with daily errands) do not go neglected,” highlights Carla Oberholzer, debt advisor at DebtSafe.
Here are six (6) ‘mom-wise’ tips (to only mention a few) that you can consider when trying to also make the ‘impossible financial aspect of things’ in YOUR life possible:
- Just like mothers, give your finances the care that you deserve:
- Make sure you outline a monthly budget for you/your household.
- Print out your previous bank statements and regularly check for any irregularities/unnecessary ‘spending leaks’.
- And, always know what your overall financial picture portrays.
- Mothers know how to choose their circle, so choose your friends well:
No need to keep up with the Joneses. You can choose the best and frugal bunch of friends that you like. Best to stick to friends that acknowledge the same ‘financial values’ and goals that you have. Andnot to let their spending behaviour influence yours in a debt-filled manner.
- Being single is being fearless. Just ask your role model mothers out there:
Being a single mom is not a joke, to make it crystal clear. BUT like mothers putting on a brave face, although it can be challenging, your singleness should not define or curb you. Unburden your current situation and become financially brave and bold. If you are single at this stage in your life, use your time and resources well. Being financially independent can save you quite a few headaches.
Mothers try all sorts of things to improve their situation, for example, boosting their income with a side hustle. So, get creative and don’t let your singleness be a burden on your financials.
- Uncomplicate your life and try to portray a minimalistic lifestyle:
It is always good to cut out the clutter (things/items) and pointless expenses in your life. These things cause way too much stress (by the way).
Things like a PayTV package that you hardly use, or what about cancelling that gym contract you took out in a New Year’s Resolution haste?
And, yes, sometimes a ‘shopping diet’ is another good mother-like investment. When last have you taken stock of what is in your kitchen cupboard/drawer? All those appliances that are getting dust on them can sell for more than a penny or two. Keep life simple, declutter a few bits, tuck some savings away and pieces and become a minimalist – enjoying life to the full without excessive stuff and add-on bills.
- Personal care is essential (invest in yourself):
Mothers are selfless, no doubt about it, but they do take care of themselves and, by doing so, they are able to provide the best life for themselves, their kids, and those around them. So, what can you do to invest in yourself? Make sure you have suitable insurances in place (life cover, in-case-of-death benefits, and a proper pension fund or retirement annuities, for example).
Also, don’t forget how crucial an emergency fund is, even if you start by adding a small amount/deduction to this type of saving. You never know when an unforeseen emergency (like a geyser burst) might pop up unexpectedly. Something small, yet if unplanned and unprepared, can ruin your financial situation for a long time to come.
- Manage your debt, get the support you need and reclaim financial freedom:
These days it is not unusual to have various credit responsibilities. Mothers know this all too well. However, the question for YOU is: Are you making ends meet AND ‘servicing’ all of your agreements?
First off, take a look at your budget and expenditures again. Can you do something about your situation, like cutting a few things? OR have you already ignored a few accounts too often – implicating your credit score?
If you have tried everything to get rid of your excessive debt, like mothers usually do, you need someone to assist you as soon as possible. According to the National Credit Regulator (NCR), there is a process that can help you regain financial freedom called Debt Review/Counselling. This process also legally protects your assets from repossession, and you can get a trusted/regulated Debt Counsellor that can negotiate, with your creditors, on your behalf.
Note: this valuable process is not a payment holiday, but it can be your get-out-of-debt solution and assist you in your need to make sure you get back on your feet and regain financial freedom again. So, why wait? Get the support that you need and make it happen! GET OUT OF DEBT FOR GOOD.
A BIG thank you goes out to South African mothers. Thank you for setting a great example to make the ‘impossible’ things possible. Specifically when it comes to managing those financial responsibilities between all the other tasks.