Be Financially Smart with FNB

Understanding the importance of living within your means

As people's living expenses increase, Eunice Sibiya, the Head of FNB's Consumer Education Program, says that people need to adapt their finances and live within their means.

Times are tough. Money is tight. We have to tighten our belts

Eunice Sibiya, Head of FNB’s Consumer Education Program

In this week's #BeFinanciallySmart feature, Azania Mosaka and Sibiya discuss the importance for people to live within their means.

Sibiya says she is worried that people do not prioritise where their money is going.

If you look at the average household spend, they spend more on recreation and lifestyle, than on education

Eunice Sibiya, Head of FNB’s Consumer Education Program

Statistics South Africa's Living Conditions Survey showed the extent of consumption in South African households:

  • 32.55% of money goes to housing and utilities
  • 16.29% is for transport
  • 14.68% is spent on goods and services
  • 13.75% is spent on food, beverages and tobacco

Living expenses are increasing, and we need to adapt our budgets to maintain our lifestyles

Eunice Sibiya, Head of FNB’s Consumer Education Program

So, are you living within your means?

If we truly want to see financial freedom, we need to pay close attention to our transacting behaviour, our prioritising, planning, and just being focused

Eunice Sibiya, Head of FNB’s Consumer Education Program

Listen to the full audio below:


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Smart money management techniques to reach your financial goals

Smart money management techniques to reach your financial goals

FNB Expert Ester Osche wraps up the #BeFinanciallySmart feature by highlighting some important techniques you need to adopt to be well on your way to financial freedom.

Saving should be the most important part of your budget says FNB's Ester Osche

Saving should be the most important part of your budget says FNB's Ester Osche

For the past few weeks, the Be Financially Smart experts have been delivering excellent insights on saving and investing your money. It is an essential part of building your wealth

Investing for retirement and the best time to start

Investing for retirement and the best time to start

How much time do you have left before your monthly income stops? The earlier you start saving for your retirement, the better!

How to juggle the stock market smartly for long-term investing

How to juggle the stock market smartly for long-term investing

The Azania Mosaka Show kicks off Savings Month with a discussion about stock markets and long-term investing.

Property investing as a good long-term investment

Property investing as a good long-term investment

FNB Expert Ester Osche discusses how to turn a property into a stable and rewarding long-term investment,

How to spot an investment scam from a mile away

How to spot an investment scam from a mile away

We've all heard stories of people falling victim to poor investment decisions. Here's what you need to look out for.

Popular articles
 In the market for a 2nd hand car? Here are some tips to buy it on a budget!

In the market for a 2nd hand car? Here are some tips to buy it on a budget!

In the car feature, our very own car guy Tumelo Maketekete shares some tips and tricks to buying a car on a R100 000 budget.

Vigilante mob attacks alleged criminals in Daveyton

Vigilante mob attacks alleged criminals in Daveyton

Tensions are rife in the East Joburg township as the community attacked and killed criminals.

[WATCH] Dad uses a drone to pull out son's tooth

[WATCH] Dad uses a drone to pull out son's tooth

Khabazela shares YouTube videos gone viral including a barmaid hitting a colleague who slapped her rear during a routine.

[Listen] Lottery responds to Tshepo's fraud claims

[Listen] Lottery responds to Tshepo's fraud claims

Philemon Letwaba says Tshepo's case relates to some of the issues that they are dealing with on a daily basis.

Celebrity chef Siba Mtongana gets vulnerable, opens up about money

Celebrity chef Siba Mtongana gets vulnerable, opens up about money

The Money Show’s Bruce Whitfield interviews Mtongana about her attitude to money (hopes and fears, successes and failures, etc.).