Achieving financial goals with us

Reach your financial goals with a solid plan and turn your dreams into reality.

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Achieving your financial goals is one of the most rewarding steps toward taking control of your future. Whether saving for a rainy day, planning a vacation, or preparing for retirement, having clear goals will help turn your dreams into reality. And we’re here to make it easier for you to set, plan and achieve those goals.

How to plan financial goals

Planning is the first step toward achieving your financial goals.

Here’s how to do it:

1. Have clear priorities

Start by asking yourself what matters most. Is it buying your dream home or securing your child’s education? Prioritising helps you focus your efforts and avoid spreading your finances too thin. Write down your goals and rank them by importance. This creates a clear vision of what you’re working towards.

2. Make your goals SMART

Vague goals like “save more” or “pay off debt” can make it hard to measure your progress.

Instead, use the SMART framework to set financial goals that are:

  • Specific: Define exactly what you want to achieve. For example, “save R100 000 for a house deposit”
  • Measurable: Ensure your goals can be tracked. For example, “reduce credit card debt by 10%”
  • Achievable: Be realistic about your income and expenses
  • Relevant: Align your goals with your values and long-term plans
  • Time-bound: Set a deadline to stay motivated. For example, “pay off credit card debt within 6 months”

3. Understand your current financial situation

Review your income, expenses, savings and debts to understand your financial situation. Understanding where you stand helps you identify areas for improvement so you can decide how much to allocate towards your goals.

4. Break goals into steps

Large goals can feel overwhelming, so break them into smaller, actionable steps. For example, if your goal is to save for a holiday, start by cutting non-essential expenses or setting up a dedicated travel fund.

You can also open a savings account to make saving easier. Our savings plans help grow your money with great interest rates, and our notice deposit accounts protect your savings from impulsive spending.

5. Budget with purpose

A well-structured budget is essential for reaching your financial goals. Divide your budget into categories like essentials, non-essentials and savings. This ensures your goals remain a priority and helps you identify areas where you can cut back.

6. Build an emergency fund

Life is unpredictable and an emergency fund can protect your financial goals from unexpected expenses. Build up savings to cover 3 to 6 months of living expenses before focusing on other financial goals.

How to achieve your financial goals

Next, it’s time to act.

Here are practical steps to help you achieve your financial goals:

1. Automate your savings

Set up an automatic transfer to your savings account every time you get paid. By treating savings as a non-negotiable expense, you’ll reach your goals faster without being tempted to spend the money elsewhere.

Automate your savings on our app:

  1. Tap Transact, then Recurring/future/dated
  2. Tap Transfer
  3. Enter the amount you want to save
  4. Select Recurring
  5. Tap Choose frequency
  6. Choose your Start date and End date

2. Reduce unnecessary spending

Small changes in your spending habits can have a big impact. Review your monthly expenses and identify areas where you can cut back, like skipping that daily flat white or cancelling an unused gym subscription. Redirect these savings towards your financial goals.

3. Pay off debt strategically

If you have debt, create a repayment plan that works for you. Focus on paying off high-interest debts first while continuing minimum payments on others. This way, you save money on interest in the long run. You can also try the “debt snowball” method, where you pay off smaller debts first for quick wins.

4. Celebrate milestones

Achieving financial goals takes time and discipline, so celebrate your progress. Reaching a milestone, like saving your first R5000 or paying off your credit card, deserves recognition. Treat yourself to something small but meaningful to stay motivated.

5. Be adaptable

Life changes, and so can your financial goals. Review your goals regularly and adjust as needed. For example, you might want to increase your savings after a salary increase.

6. Never stop learning

Financial literacy is a powerful tool for achieving your goals. Invest time learning about personal finance through books, blogs or courses. The more you understand, the better equipped you’ll be to make smart decisions and achieve your financial goals.

7. Ask the experts

If you’re unsure about your plan or need help managing complex financial situations, consider speaking to a financial advisor. They can provide expert guidance and tailor a strategy to your unique needs.

8. Avoid comparing yourself to others

Your financial journey is personal, and comparing yourself to others can lead to frustration or spending beyond your means. Focus on your progress and celebrate what you’re achieving rather than measuring your success against someone else’s.

The bottom line

Financial goals aren’t just about money but building the life you want. With a clear plan, focused action, and dedication, you can achieve your financial goals.

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