The first step in taking responsibility for your finances is understanding where your money goes. Use our budget tool to get started. You might be surprised at what you find!
Budget Item
Amount (R)
INCOME
Salary
Side hustle
Pension income
Rental income
Other income (child maintenance, spousal support)
TOTAL INCOME
R 0.00
EXPENSES
Needs (Must pays)
Income tax
Rent or bond repayment
Municipal rates and taxes
Groceries
Electricity
Gas
Student loan repayments
School fees and/or childcare
Car repayments
Car insurance
Fuel and/or transport
Debt repayments
Banking charges
Smart phone contract
Other needs
TOTAL NEEDS
R 0.00
The right thing to do
Support for family members
Household insurance (structure and content)
Income protection insurance
Critical illness insurance
Life insurance
Medical aid / hospital plan
Gap cover
Medical expenses not covered by your medical scheme
The right thing to do subtotal
R 0.00
Wants
Domestic worker
Extra data / airtime
Other subscriptions (DStv, Netflix)
Internet / Fibre
Clothing
Home maintenance
Garden services
Personal care
Gym membership
Entertainment (restaurants, takeaway, movies) & hobbies
Alcohol and smokes
Weekend away & Holidays
Gifts
Other wants
TOTAL WANTS
R 0.00
Savings / Shields
Short-term goal: Emergency savings fund
Medium-term goal: Holiday
Long-term goal: Retirement
Long-term goal: Education
Other savings goals
TOTAL SAVINGS / SHIELDS
R 0.00
TOTAL EXPENSES
R 0.00
Total Income
R 0.00
Total Expenses
R 0.00
SURPLUS or (DEFICIT)
R 0.00
In a perfect world, this should be zero. If it is more than zero, you are overspending. If it is less (i.e., the amount is in brackets), there is extra money that you can add to your savings goals or use to invest.
Download our Excel budget sheet
Sources
Manage your money by Sam Beckbesssinger
Smartaboutmoney: Budget planner