Budget plans to manage your money in 2022

You can’t argue with the fact that the last 2 years have done a number on our personal finances. And flip, we get it. We understand how crazy it can get for people to save money, pay off their debts, and work towards their financial goals in this economy.

If ever there was a time to explore new budgeting strategies to help you get back on track, it’s now. Which is exactly why we’ve put together our top budget plans that could help you manage your money.

We’re hoping that you’ll be inspired and find a plan more suitable to your circumstances and more likely to help you gain financial freedom and reach your dreams. Of course, if we can support your money goals with cheaper insurance, then that’s just the cherry on top!

Different budget plans for you to explore

50/30/20 plan

This is ideal for people who don’t want to go into too much detail, because you only need to work in 3 categories: Use 50% of your income for necessities, 30% for everything else you might want, and 20% towards savings and debt management.

Let’s say you earn R10,000. Immediately you’ll take R5,000 for your needs and obligations, like housing, transport, and car insurance. You’ll take R3,000 for the fun stuff, and the remaining R2,000 is for savings or paying off small debts.

It’s good for: Learning how to categorise your ‘needs’ over your ‘wants’.


The zero-based budget is so simple (and it’s a really good name). You calculate your monthly income, add up your spending and savings, and minus these from your income so you come up with zero.

So, if you make R10,000 every month, then everything you pay for, spend on, and save for should add up to R10,000, so that when you minus money going out from the money coming in, you end up with 0.

The main benefit is that you give every Rand a purpose, whether it’s to pay off a debt, save for a goal, or spend on fuel and groceries.

It’s good for: Teaching you how to be intentional with your money.

Pay-yourself-first plan

With this approach you make sure your savings and debt goals are met first. After that, you use what’s left for whatever you need and want.

For example, if you’re bringing in R10,000 and you need R3,000 towards your debts and R2,500 for savings, then you’ve got R4,500 for your obligations and fun stuff. People who adopt this approach are more likely to shop around for the best deals, whether it’s the price of milk or car insurance.

It’s good for: Prioritising savings and debt repayments.

The envelope system

It’s old fashioned, but it works. You start by calculating your income, breaking it down into different categories, such as housing, groceries, insurance, and entertainment. Once you’ve worked out what you’re spending, you label each envelope (we told you it was old school) and put the corresponding cash into 1.

It’s effective, but it can be cumbersome… For instance, some payments can’t be made in cash or you could lose points offered by your bank by not using your card as much.

It’s good for: Becoming more disciplined about your spending.

The ‘no’ budget

This method relies on always making the choice not to spend money that you don’t have. It sounds simple enough, but we have to be honest that it’s not always easy to say no all the time. We’d argue that it’s ideal if you’re already reasonably good at being disciplined.

It’s good for: Reducing and avoiding debt.

The king has your back and your budget

We thrive on helping people get simple cheap insurance so that they can do the responsible thing and protect themselves from the costs associated with accidents, theft, and other incidents that cause loss… While also saving.

That’s why the king puts so much effort into launching policies that make sense and are realistic for the average South African budget. There’s our multiple-car discount (save with every additional car you insure comprehensively with us), our much cheaper fire and fury home contents insurance, our R1 insurance for specific portable possessions, and our royally customisable business insurance (so you only pay for the cover you need).

These are just some examples of how you can save on your car, home, portable possessions, and even business insurance when you come to King Price for your insurance needs.

If you’re not sure which insurance to get or how to save more, give us a ring on 0860 50 50 50 or click here for commitment-free insurance quotes today.

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