When your expenses exceed your income, you have only two choices: spend less or earn more. For many people, it's easier to cut back than it is to increase earnings. But how do you cut back when costs are ever increasing? You have to interrogate your finances, cut out wasteful expenditure, examine what you value and can't live without, and trim back even further.

Many people claim to have cut their expenses to the bone, but most South Africans have no real budget. A report titled "More Money Than Month", the findings of research commissioned by TymeBank, shows that most South Africans are not committed to budgeting, with 36% of respondents saying they have a "loose mental budget" and 19% confessing to having drawn up a budget that they don't stick to...

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