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How to stay financially fit in these tough economic times

As the cost of living continues to soar, the biggest financial mistake you can make is failing to acknowledge that you might be at risk of becoming over-indebted.

So says the Association for Savings and Investment South Africa’s Deputy Chief Executive Officer Peter Dempsey.

The Money Show’s Bruce Whitfield interviewed Dempsey for the weekly "Make Money Mondays" feature about how to stay financially sound in these tough times.

Scroll down for quotes from the audio below.

Start off by drawing up a budget.

Peter Dempsey, Asisa

There’s something funny that’s not so funny about too much month at the end of your money!

Peter Dempsey, Asisa

Try and earn some extra money.

Peter Dempsey, Asisa

Try to sell some unwanted assets.

Peter Dempsey, Asisa

Do you have to buy a new car every two years?

Peter Dempsey, Asisa

Save and spend what’s left as opposed to spending and saving what’s left.

Peter Dempsey, Asisa

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Article brought to us by Old Mutual.

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