Page 30 - Waterfall City NovDec Issue 2025

Waterfall City Finance BYD

Be consistent, no matter how
small
Another key question people ask
is how much they need to save.
My advice is to start small but be
consistent. Sporadic saving – whether
it’s once a year when you receive a
bonus or only when you remember –
doesn’t build the discipline or financial WOOD
habits you need to gain financial
independence. strategy known as rand-cost averaging. generate compound interest for you,
WOODMEAD
This means that over time, this
debt creates compound interest
Think of it like a diet. Crash diets might approach lowers the risk of investing against you. The longer you carry
work temporarily, but sustainable only when markets are high. it, the more expensive it becomes.
lifestyle changes are more effective Prioritising savings means moving
in the long term. The same applies to Control equals empowerment from paying the bank to paying
saving. Building it into your monthly Many people feel overwhelmed by yourself first.
routine, through something as simple their financial situation, but taking
as a debit order, turns saving into a control – even in a small way – is an We live in a world filled with
habit rather than an afterthought. empowering step. When you start temptation. It’s easy to justify a new
saving, you shift your mindset from car or a spontaneous holiday. But every
From a behavioural finance surviving to planning. That shift opens spending decision has an opportunity Y O U R E L E C T R I C F U T U R E
perspective, a 2022 study by the doors. Suddenly, it’s not just about cost. That R500,000 spent on a car B E G I N S A T T H E H O M E O F
University of Cape Town found that making it through the month. It’s about today could be worth R1 million in C U T T I N G - E D G E C A R S
automated savings, such as scheduled funding education, starting a side seven years or even R20 million in
debit orders, significantly improve the business, or breaking the cycle of debt. 40 years if invested wisely. It’s a simple
probability of success. Making regular question: what will bring you more
contributions also helps to reduce And speaking of debt, it’s the exact fulfilment – a short-term indulgence, N R
the impact of investment volatility, a opposite of saving. Where savings or long-term security? E
E M E
Establishing a goal – whether it’s V R C
buying a home, funding your children’s E E O I
education, or retiring comfortably – T T V
helps anchor your savings behaviour. D T S R
When you’re clear on what you’re N E U E
working towards, it becomes easier to A B C S
say no to unnecessary expenses.

Set up a system that works
for you
The good news is that our financial
services industry makes disciplined
saving easy. Setting up a debit order
aligned to your affordability is a
powerful first step. You don’t have to
start big – you just have to start. Then
stick to it.

Picture yourself 20 years from now.
Will you be grateful that you tightened
your belt and made those small
sacrifices when you did, or regret not
doing so when you had the chance?
The answer usually speaks for itself. Contact Us: 086 129 3293
And the sooner you start, the less
effort it takes. That’s the real power of Woodmead Drive & Waterval
saving and financial empowerment. Crescent, Woodmead, Sandton, JHB
WOODMEAD
www.bydwoodmead.hatfieldgroup.co.za
28 Waterfall City Nov/Dec 2025