Sanlam : It’s Important to Reward Yourself

"Reaching our future financial goals - whether it's a deposit on your first home or a comfortable retirement - requires savvy choices and potentially some short-term sacrifices. But, if we only focus on making 'the right' financial decisions and never reward ourselves, we are less likely to stick to a spending plan and reach these goals. Like a strict diet, a super strict budget is a recipe for binge-spending," says Botha. "Balance is key. You work hard for your money so it's also important to enjoy life right now."

Creating and sticking to a budget is the foundation of good money management, but the term 'budget' has negative connotations. By reframing your money mindset you may be able to positively shift your attitude towards financial well-being. "I prefer to talk about a spending plan which sounds much more appealing," says Botha. "This should also include some spoils. By factoring these into your budget, you can reward yourself responsibly. Without needing to do some creative Girl Math calculations to justify the expense."

Botha shares five tips to be financially savvy: