January is the Month to start SAVING MONEY

start saving money in January
January Calendar 2020, image: infomagx.com

Eventually, the money will be spent, no matter how long or how many decades –regardless, it will be spent, and however, how you spend it is very important. We all know what’s right and what’s wrong, we have goals and dreams.

January is the beginning of a saving journey and prepares you for a possible better future, enjoyable festivals and holidays. Budgeting is not easy – and drafting a budget needs consistency.  Money is vital for our basic needs of life and in most cases we tend to forget the importance of it (Perhaps not forgetting but rather decide to neglect our essential needs and saving for rainy days).

Saving money is very important – consider all the possibilities and achievements. Life, as we grow, gets tougher, and the tougher it gets, believe it or not – the more money you will need. The most important thing to do when saving is opening a savings account with any bank in South Africa.

You may consider a fixed account or an investment account. There are many different financial institutions that cater to all kinds of financial products also named FSP (Financial Service Providers).



The beginning shouldn’t be the starting point, however – one should start somewhere. At the beginning of the year, it’s, unfortunately, the time when millions of South Africans complain about being broke. This is the time when you would hear names such as “Jan-U-Worry”, the time when everyone thinks of getting a loan from formal institutions and the majority of young South Africans run off to the informal mashonisa.

January is the month when you should be setting your priorities straight. Save money from the beginning, or you can start saving the end of the month. This is when you should be taking notes of your needs and wants.

When get paid at the end of January, it is best to think forward, don’t try to mend what’s been broken a year ago – let go, attend to your obligations and save money.

The Importance of Setting up a Budget

  • Setting up a budget requires you to know your day-to-day spend.
  • It enforces you to stick to your budget.
  • It scales you and limits your spend to ensure affordability.
  • Teaches disciple and money management.
  • Enforces affordability at all times.
  • It doesn’t let you over-spend or leaves you less satisfied, it balances your needs and outweighs your wants.
  • Set your priorities on points.
  • Better money management.
  • And yes, it ultimately saves you money.

Set up a budget today – it is the same way as following your dreams and goals in life; you need to note everything down in order to keep track of your spending and achievements.

Spending money is very easy, but saving it is the hardest to do across South Africa. You see it with the majority of young people, and how they overspent during the festive season. Most young people live a life of full of silly regrets that could’ve been avoided; however, there is still room for improvement.  Spending money wisely is vital in our lives regardless of how much it is, and I’ve seen this with me.

A typical example of a R100 from a cousin to spend on food and data, and I would decide to purchase some other extra items that eventually sucked it all up and left me with no food and no data, leaving me with an empty stomach and an offline device. I failed to prioritize, Don’t be like Isaac More, and set your priorities right.

It is unfortunate that some people are too generous and finds themselves empty-handed, whereas they can reinvest, and or invest in a business, save more money and continue helping people for a lifetime. You need money to make money and it just how it is. You cannot sway from this – there’s only one way, and it’s the right way – The budgeting way.

How much can I start saving?

Saving money requires consistency – you have to save towards a goal, the aim is to keep depositing and growing your account. You can start saving from as little as R50, on a month-to-month basis; however, this can increase gradually – fall in love with the routine.

The little you save every now and then will make a difference – you may be interested in a purchase of a new watch, bag, cellphone, a book, etc. while at the same time you continue with the same routine. Saving money is never ever a once-off thing; never spend all the money you’ve saved at once – that’s one irreversible move that may leave you in a bath full of regrets.

However, some purchases are more important than others; I would also advise on a little patience before making big purchases in life.  You may be saving for a house deposit – that’s one vital move that can never leave you with any regret. Plan your move wisely, involve your partner, financial adviser, etc. and find ways to wisely spend your money on a property.

There’s a saying that every cent count, a business motto that sprays across our lives and how we tend to spend money.  Every cent is worth saving, cash in when necessary and spend it wisely and continue saving for a lifetime.

Can I wait for January to start saving?

No – ideally, the perfect time to start saving is to January, when you have goals or plans to fulfill during the year. You can start saving money at any time of the day or any day of the week of any month of any year.

Get in line and be a part of a number of young South Africans who save money on the regular towards unforeseen circumstances and just affording the pecks of having money for entertainment that’s within your budget.

When is it the time to start saving?

The right time to start saving is now; don’t wait until it’s too late before you realize how much you could’ve achieved.  Do not procrastinate, and stop delaying your journey in life – open a savings account with any bank or financial provider and start counting every cent earn from your balance.

The longer you wait, the more you spend, the more difficult it will be to start saving. Swiping your card can save you money; however, a fixed deposit account is a more acceptable approach.

The beginning of new things begins when you decide it’s time. No one is holding you back. You don’t need a job to start saving money. I have seen individuals in high-school save up to R5 000 in a period of a year, roughly R150 per week.

Saving is always necessary; there will never be an excuse for not saving money. South Africans are finding it even more difficult to begin saving – whereas if they started now, 5 – 10 years from now, they will be able to achieve something with the money invested or saved.

How can I start saving?

  • Visit any Bank or Financial Provider
  • Ask for Investment Advice
  • Open an Account
  • Choose an amount to invest or flexible investment account
  • Choose the duration of your investment
  • Start Saving as a Lump Sum or in regular contributions
  • As soon as your account matures your funds will be available and there’s always an option to reinvest.

If you feel you can’t invest with a bank, you can always choose any financial provider such as Old Mutual, PSG, Sanlam, Liberty, etc.

December vibes shouldn’t be of any influence to let you drown in debts the following year. You can’t start a year with bills. Unfortunately, it happens to 1 of every 3 people in the world. We welcome the New Year with a handful of bills and overdue debts and it doesn’t have to always be that way.

Don’t find yourself in avoidable desperate and destitute situations. Avoid overspending and feeling sorry for friends for the sake of having fun. Spend the money you won’t need, and spare the one you will eventually need in the near future.

Save more in January than any other month, and save even further during December festivals and still get to spend and enjoy the festive season.  Saving money comes with discipline and consistency and not everyone has it, but it can be taught.


I may have said it once and I will say it again; December comes once every year and comes with 31 days. You can’t spend 11 Months’ Worth of saved money in 31 days of a single month.  When you start saving money, never stop.

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