In this blog, you will learn about concepts, methods and ideas that have helped millions of people across the world to achieve financial wellness.
Resulting in a movement of people from all income groups and backgrounds who all share a common vision of financial independence.
This is a movement of people who have taken back control of their money and have made a mind shift and lifestyle change from consumerism to frugality. This is a movement where money works for you and not the other way around.
The main aim of my blog is to empower anyone interested in taking charge of their finances. Financial wellness puts control of your personal finances back in your hands.
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Financial Goals
Having a financial goal provides you with meaning and direction with respect to your finances. It creates meaning in that you know the role that your money plays in your life.
Meaning and direction mean that you have a clear idea and objective of where your money is going, what it is doing, how, why and when it is being spent.
Learn how to set financial goals and put together a financial plan to guide you in your journey.
Start with what you have. START NOW!
Budget
A budget is a tool that helps you measure, quantify and clearly specify your targets and time frames with regards to your financial goals and objectives.
“A budget measures and manages the amount of money that comes into your account and leaves your account”.
Your budget consists of your (A) income, (B) savings and (C) expenses. It’s important that you list these budget items in that order.
Income is the money that you earn at any given time. There are many different ways in which one could earn income.
The most common form of income for most people is (1) salary or wages earned from working. Other forms of income include (2) revenue from sales , (3) profit from business and (4) dividends from investments.
Savings is the most important item in your budget.
“Savings is a portion of your income that you keep to grow your assets”
Expenses are the items in your budget that you spend your money on. There are fixed and variable expenses.
Fixed expenses are recurring expenses. They do not change or change slightly at every time interval such as weekly or monthly. Rental, bond, personal loan, vehicle finance repayments and cellphone contract repayments are examples of fixed expenses.
Variable expenses change at every time interval, unlike fixed expenses which remain unchanged. Often these expenses vary with the rate of usage or consumption. Fuel, electricity, groceries, prepaid airtime and entertainments are examples of variable expenses.
Related article: A few thousand rands are floating somewhere in your budget
Savings
Savings is the basis of wealth creation and growth. It begins with spending less than you earn. That is; living below your means.
If you live below your means, you have excess money remaining at the end of a period of time. This excess can be directed towards activities than can help you reduce your liabilities and grow your assets.
These activities include paying off debt, investing and building a nest egg for your golden years.
Related article: How to start when you want to save?
Emergency Fund
An Emergency Fund is an account where you keep your money safely to provide for emergency expenses. It’s main purpose is to provide a financial relief for unexpected expenses that are not part of daily or long-term plans.
Learn how to build an emergency fund here.
Debt
“Debt is either healthy or bad”
Good debt is used to buy investment or income-generating assets such as property or business equipment.
The cost of good debt is far lower than the gains you make from the assets you buy and invest in.
Bad debt is consumer debt. This debt is used to buy consumption products like groceries, gadgets and entertainment.
Consumer debt costs you a lot more than the perceived value that it buys.
Related article: How to pay off your debt in 3 easy steps
Investments
When you save, you see potential. When you invest, you realize growth.
What you keep is investment. What you invest is growth. What you earn is value.
What you do with it is freedom. How you spend it is wellness.
Financial Joy = Peace of Mind.
Learn how to invest in property here.
Good Money Doctor 
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