The beginning of a new year is the perfect time to take control of your finances and set meaningful financial goals for the months ahead. Whether you’re saving for a new car, planning a momentous family holiday, or simply trying to reduce debt, a well-thought-out budget is the key to achieving your goals and financial stability.  

Yet, for many, creating a budget feels overwhelming. Where do you start, and how can you make sure your budget works for you? 

AA Inform’s Budget Planner is designed to make this process straightforward and accessible. With its user-friendly interface and actionable insights, the tool empowers South Africans to track their income and expenses, identify areas of improvement, and set realistic financial goals. In this guide, we’ll walk you through how to use the planner effectively and tailor it to your unique needs. 

Step 1: Understand Your Financial Goals 

Before diving into the Budget Planner, take some time to reflect on your financial aspirations for 2025. Are you saving for a specific goal, like buying a house or paying off a car loan? Or is your focus on building an emergency fund or investing in your children’s education?  

Clearly defining your goals will help you prioritise your spending and make better decisions. 

Step 2: Input Your Income And Expenses 

Once you’ve decided what your financial plans are for this year, you can get started. The first thing you’ll do is jot down and enter all your sources of income into the Budget Planner. This includes salaries, side hustles, and any additional revenue streams. Then, take some time to list all your monthly expenses, such as rent, groceries, transport, and insurance.  

Be as detailed as possible to get an accurate picture of your financial health. It’s no use to leave out those four to six flat whites you get every week on your way to the office, as all these expenses add up and explain your financial situation more accurately. 

Step 3: Analyse Spending Patterns 

One of the most powerful features of the Budget Planner is its ability to highlight spending patterns. Are you spending too much on dining out? Could you save on transport by carpooling or using public transport? By plugging your income and expenses into this tool, you can more easily spot these trends and make adjustments that lead to significant savings. 

Step 4: Allocate Funds To Your Goals 

Once you’ve analysed your current budget and made the necessary adjustments to create your budget for the upcoming year, you can think about your goals. Essentially, this is the step where you plan how much money you will divert towards your financial goals. For instance, if you want to save R30,000 for a family holiday by December 2025, set aside a portion of your monthly income specifically for that purpose.  

The Budget Planner allows you to track progress over time, keeping you motivated, to continuously make better financial decisions. 

Step 5. Review And Adjust Regularly 

Life is unpredictable, and your budget should be flexible enough to adapt to changes. Set a reminder to review your budget monthly and make adjustments as needed. If your expenses increase in one area, consider cutting back in another to stay on track. 

Feeling informed?  

Our hope is that using AA Inform’s Budget Planner, you won’t just be managing your money. You’ll be actively shaping your future.  

Start today and make 2025 your most financially empowered year yet. Don’t forget that AA Inform is home to a range of useful financial tools and resources that can assist you with planning and taking control of your financial future.