How bad are you with money?

Payday arrives and deciding if you should save your money or splurge on a night out is a big question that hovers around many heads. 

I have to admit that when it comes to managing money, I am not the best. In fact, even talking about money makes me really uncomfortable, but this year I have promised to work on this love-hate relationship.

Read: East Coast Breakfast breaks down the 2018 budget speech

During this year's budget speech many, including myself, were left dumbfounded. VAT has been increased to 15% (I don’t even know what the 1% VAT increase even means), a 52 cents per litre increase in the levies on fuel and increases in alcohol and tobacco excise duties of 6 - 10%. 

What this basically means is that we all need to become moneywise and responsible with our finances. 

I wish I lived in a world where I could trade goods for goods and the thought of a moneyless society really excites me. Yes, I know that's not reality, but for most of my life, I live in the land of unicorn dust and rainbows.

Read: Gigaba quotes rapper Kendrick Lamar during the Budget Speech

Here are some reasons why you save your money:

1. Saving even a little bit every month helps you get what you want
   
2. Investing your money helps it grow in a number of ways
   
3. Saving regularly ensures that you have less of a need for credit or loans and more money available to buy or do the things you want.

According to Old Mutual, if you think you cannot save money, give the following scenarios some thought...

1 less takeaway per week = R280 per month

1 less bottle of wine per week = R320 per month

1 less restaurant meal per month= R250 per month

1 less new item of clothing per month = R500 per month

1 less packet of cigarettes per week = R160 per month

Are you responsible with your pennies or are you a wasteful spender? Let me know by sharing your comments below: