There are many reasons people struggle with saving money. Many factors that we are sometimes are unaware of. In this article we will discuss some of these reasons. 11 reasons you are struggling to save money 1.Cost of living It would be an injustice to talk about saving money without acknowledging the cost of living. The inflation rate keeps rising which means prices are hiking while our income remains the same. High costs of living, such as housing, healthcare, and education, leave little room for saving after meeting essential needs. 2. You don't Budget (or stick to it) A budget is to your finances what water is to your body. You might survive a day or two without it but in a long term you will feel the effects. Without a clear budget, it's challenging to track income, expenses, and savings. Overspending becomes common, making it difficult to save 3. You live beyond your means Spending more than you earn will leave you with nothing to save. Spending more than what you ear
Investing in South Africa can offer numerous opportunities for growth and wealth accumulation. However, it's essential to understand that all investments carry some degree of risk. Diversifying your investment portfolio is a crucial strategy to mitigate risks and optimize returns. In this comprehensive guide, we'll delve into the strategies and steps you can take to diversify your investment portfolio in South Africa. Understanding Portfolio Diversification Portfolio diversification is a risk management strategy that involves spreading investments across various assets, industries, and geographic regions. The aim is to reduce exposure to any single asset or risk. Diversification helps balance potential losses in one area with gains in another, ultimately aiming for a more stable and profitable overall portfolio. In South Africa, diversifying your investment portfolio typically involves considering a mix of asset classes, such as equities, bonds, real estate, commodities, and ca