This is how Khanya’s friend inspired her to start saving money.
I’m Khanya (17) from Gugulethu in Cape Town. I’m in grade 12 and thought it would be great for me to finally start saving some money, so I set a saving goal. This is money I promised myself I would save every month. I’m going to use it to buy everything I want for the dance, like a dress, shoes and a fabulous hairstyle. My bestie Xoli suggested that I join her savings group, called The Last Year. The group is made up of Xoli and three other girls.
We each save R100 at the end of every month. When Xoli told me about joining, I thought I’d never manage. But she showed me a few tricks to save money. For example, instead of thinking about the larger sum of R100, I set weekly saving goals and put away R25 from my pocket money. Instead of buying daily treats at school, I now buy a treat twice a month.
Because we still have a long way to go before we reach our target of saving R2000 each, we have started earning extra money that we put into our account. We bake muffins that we sell for R2.50 at school and around churches in our community.
I have discovered is that saving can be challenging but it is not impossible. I tell the group whenever I feel tempted to spend money I should be saving. We also have a WhatsApp group we use to motivate each other to keep going.
I’ve also discovered that when it comes to saving, putting away a little money can turn it into a big amount. For instance, my first R100 has now become R500. When saving, it’s important to have a goal and to remember it whenever you are tempted to give up and spend your money.