Three tips from a CA to level up your finances
All we can hear is Ciara singing, "Level up, level up, level up..."
Finances don’t have to be a constant source of stress. You shouldn’t feel tense every time a debit order goes off or when your bank balance reminds you of what you don’t have.
By taking a responsible and logical approach, you can shift from feeling powerless to being in control of your financial future.
Chartered accountant Davron Chanderdeo regularly shares practical financial advice on social media, and his latest video on levelling up your finances this year is a must-watch.
His tips are simple, achievable, and could be the fresh start your money mindset needs.
Chanderdeo's three tips break down the key principles to focus on so you can "become 1% better every day".
1. Stop your delusional spending habits
You don’t need the latest gadgets or to keep up with every social media trend to build a secure financial future. Many financial experts emphasise the importance of living within your means – once you master this, financial freedom becomes much more attainable.
A great starting point is evaluating your income versus your monthly expenses. Chanderdeo suggests a simple budgeting framework:
50% for essentials (rent, groceries, bills)
30% for lifestyle expenses (entertainment, dining out, hobbies)
20% for savings and debt repayment
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2. Pay yourself first
A key financial habit Chanderdeo highlights is paying your future self first. This means prioritising investments in your retirement, building an emergency fund, and paying off debt.
Think of it as a long-term investment – every rand you set aside today is a step toward a more secure and stress-free future.
3. Rewire your brain to stop comparing
According to Chanderdeo, the most crucial shift you can make is to stop comparing yourself to others – especially when it comes to money.
If you often wonder how others afford their lifestyles while you're struggling to make ends meet, remember this: nearly 50% of credit card holders are in debt.
As Chanderdeo puts it, “You need to rewire your brain and stop normalising living beyond your means.”
Watch the video below where he shares the above tips – courtesy of TikTok.
@davronchanderdeo These tips will help you make 2025 a lot better - understand the Principles behind what you need to focus on to become 1% better everyday #growth #financetips #budget #financegoals #tipsforsuccess ♬ original sound - Davron Chanderdeo | CA(SA)
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