Making money during the covid-19 lockdown | #GottaAskYFM with Nicolette Mashile
Written by Botlhale Satsha on 6th Apr 2020
As important as it is to keep mentally and physically fit in these uncertain times, it is just as important for your finances to get in shape. Amongst other things, we discuss making money during covid-19 lockdown with financial fitness bunny, Nicolette Mashile.
What is financial fitness?
It’s a daily practice that requires consistent effort. Living in a way that does not exceed one’s earnings or put a financial strain on your savings whilst making choices that align with one’s priorities.
It’s not too late to instill healthy financial habits, here are a few ingredients on how to keep financially fit.
1. The ability to say “No.”
Understanding your cash flow means creating your budget and thus setting out a leisure spending threshold, note that there is no double-dipping once you have exceeded this amount. This is where No ma’am comes in. Being able to fight the craving and your need to spend is the key to easily grow your savings.
When heading over to the till and you pass your favourite ‘unnecessary’ treats… Say no. Every cent you save counts.
2. Cut down on the plastic use
Card use goes a long way with regards to personal convenience and the perks are endless. Yet it’s been proven that its easier to spend more when paying with a card compared to cash. Using cash would help you understand your total expenses and help you keep to budget.
3. Patience is a virtue required to make money during the covid-19 lockdown
‘It takes 21 days to create a habit and 90 days to create a lifestyle. Don’t aim to achieve financial glory overnight especially when it comes to investments. In the long run, patience would save you the trouble and costs that come with hasty financial decisions seeing as investments are known to be fruitful after a number of years.
#GottaAskYFM along with Property investor and MBA candidate Nicolette Mashile took to socials to find out what shhmoney questions have been burning a hole in your pocket.
Hear it from a financially fit sis… Mashile answers your questions and tackles all things savings, investments, car, home financing and many more below.