saving methods and the importance of savings - Absa Group

Save for Your Goals and Rewrite the Story of Your Finances

Does the word “saving” make you anxious? You’re not alone.

In today’s unstable economic climate, with the high cost of living and rising inflation, setting money aside to save can feel hard—there’s always something to spend your money on, and life to be lived.

However, while we know how difficult saving can be, we want to tell you it’s not impossible. Once you develop the habit, even the smallest amounts can make a difference. The satisfaction of being able to say, “I grew it,” will motivate you to keep going.

Why Should You Save?

People often ask: “If I have enough money to pay for everything I need, why should I worry about putting money aside every month?”

Goals and Things That You Want

There are other reasons to save too. Some are big and long-term, like moving into your own place, starting a family, or furthering your education. Others are shorter-term, like buying a dishwasher, taking a holiday, or simply having a little extra spending money at the end of the month.

Building an Emergency Fund

It's essential to set aside money for unexpected events, like emergencies or a flat tire. Aim to save at least three months' salary for a safety net. Don’t worry about reaching it quickly—start small and save monthly. With compound interest, your savings will grow over time. Remember, building returns takes patience.