Image for post
Image for post

The days leading up to the budget speech are always filled with great anticipation, and this year was no exception, with South Africa’s enormous R19.3 billion vaccine drive looming in the background. Finance Minister Tito Mboweni delivered his budget speech on 25 February, and while we learned that we won’t be funding the vaccine drive by paying more taxes (phew!), the sigh of relief was soon extinguished when it was made clear that South Africa “owes a lot of people a lot of money.” Here are some lessons in debt you can take away from this year’s budget speech.

Don’t…


Image for post
Image for post

Everyone’s talking about cryptocurrency these days — especially Bitcoin, which recently rose to an all time high of over $52,000 per coin. If you aren’t in the loop, all this hype can feel overwhelming, but we’re here to help get you up to speed.

So, what is Bitcoin and should you be paying attention to it?

Remember when you had to use rands to buy tokens to ride the merry-go-round? Well, cryptocurrencies like Bitcoin represent these tokens and the merry-go-round represents various goods and services. Bitcoin is simply a form of payment and you can use it to buy stuff.


Image for post
Image for post

Too often, people find themselves in the later stages of their lives, realising they don’t have enough money to retire and need to continue working to earn money until it’s no longer possible. The inability to afford retirement is a fear that’s shared by both older and younger generations. Saving for retirement shouldn’t be a big mountain that you have to climb, but can actually be an easy stroll if you do it right.

Know your moola

When beginning to plan for retirement (which ideally should be as early as possible), a tactical move would be to take stock of…


Image for post
Image for post

Financial freedom is a goal for many of us. We hate the idea of living from month to month hoping to make enough to survive until our next payday. Being able to make our own decisions about how to spend our time and where to live, is a goal for millions around the world. Why do so few people achieve financial freedom? Is the system rigged against us? Do we have any control over our future? The answer lies close to home — in fact, it is staring at you when you look in the mirror.

It starts with you.


Image for post
Image for post

2020 was a tough year. You may have experienced a pay cut, retrenchment, or even had to close your small business due to the Coronavirus throwing everyone’s world into disarray. Perhaps it’s a total mystery where your next paycheck is coming from, or what you have left in your bank account is all you have to work with for the foreseeable future. Regardless of your situation, there are ways to ration your money and potentially even save some on top of it.

Have an emergency fund

First things first, it’s critical to have an emergency fund you contribute towards in…


Image for post
Image for post

We’ve all heard horror stories of cyber-attacks. Whether it be hackers that bring down systems, steal credit card details or use phishing-tactics to transfer money from someone’s bank account. It’s no wonder we’re all becoming more security-savvy and seeking assurances from our service providers regarding the safety of our information, and money!

As you know, 22seven is a free budgeting app in South Africa that tracks your various bank accounts and investments and helps you see the overall view of your finances.

So after that scary introduction, how safe is it to use 22seven?

In short; very safe. But that’s…


Image for post
Image for post

Why do financial institutions get to decide who you share your data with and how much of your own data you’re allowed to access? Data ownership is a hot topic at the moment, and so is open finance — for good reason!

Open finance advocates that consumers have ownership of their financial data so they can expose themselves to more financial services and an array of other benefits. The fundamental principle of open finance is this: you get to share your financial data with whoever you want because it’s yours! Open finance aims to give consumers power over their financial…


Image for post
Image for post

Setting, sticking to, and achieving your financial goals might be more important than ever before this year. Your financial goals should be set with your own personal financial objectives in mind and can be anything from saving for a new car, to increasing your monthly retirement contribution or paying down your debt. After a year like 2020, your goals might be a bit different than usual, or different to other people’s — and that’s perfectly okay!

Setting a financial goal is the easy part; sticking to it and eventually achieving it is where it gets tricky. The good news is…


Image for post
Image for post

Turning your passions into income has never been easier than in 2021. Side hustles are all the rage and various platforms make it so easy to get your name out there. Escaping the rat race seems to be on everyone’s mind, and rightly so — the days of slaving away at a 9–5 office job are gone and more and more people are in need of financial and personal freedom. …


Image for post
Image for post

Life gives us a second chance every 365 days. A chance to do better and to be better. After a year like 2020, we desperately need to turn over a new leaf. But what will you do with the new opportunities 2021 holds? Will you start anew or keep on locking horns with your wallet? This week, we’re giving you some tips on how to make 2021 a financial step up from 2020.

Set goals

You already knew we were going to start with this one. Without goals, you’re on your way to nowhere, fast. Setting financial goals for the…

22seven

Thoughts, observations and insights. About money, life and 22seven. Visit 22seven.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store