Transform your finances: how to make your money work for you

On Workers’ Day, South Africans reflected on the power of hard work, unity, and dignity. But while our efforts in the workplace drive the economy forward, there’s another, often overlooked contributor to success – how we make our money work beyond payday.

“Working hard is powerful,” says Leonie O’Connell, financial adviser at Momentum Financial Planning, “But in today’s world, it’s not just about clocking in from 9 to 5. It’s about what you do with what you earn. Your money should be working overtime by saving, growing and investing. That’s how you build a life beyond the next salary slip.”

The struggle for fair pay has been a central fight for workers across generations. But as O’Connell puts it, “the next level is about making smart money moves that turn income into independence.”

That’s not just about how much you earn but how much you keep, grow, and protect. True financial strength, O’Connell says, is not about flashy cars or once-off splurges.

“The real flex is legacy. It’s putting your money to work in ways that support you through life’s curveballs and help you build long-term stability – whether that’s owning a home, sending kids to university, or retiring comfortably.”

Start small, then watch the momentum grow

Many South Africans are still living from one salary slip to the next. According to the Momentum/Unisa Household Financial Wellness Index, even financially well-off households are feeling the pressure – with nearly 17% struggling to meet their monthly expenses in the current high-inflation, high-interest climate.

But O’Connell believes the road to financial freedom is open to all. “Financial freedom isn’t reserved for the wealthy – it’s achievable for everyday workers, too. But it takes intentionality. Even small steps can create a big shift over time.”

To help South Africans take control of their financial futures, O’Connell shares five practical money moves every worker should be making – no matter their income bracket.

• Budget like your freedom depends on it
• Every rand you earn should have a job. A budget gives you control, whether it’s going towards debt, savings, essentials, or investing. Without it, you’re just guessing.
• Build a savings habit, even if it’s R100 a month
• Too many people delay saving because they think they need thousands to get started. But consistency is more powerful than amount. Savings give you options when life happens.
• Start investing intentionally
• Investing is where your money starts working for you. Whether through a retirement fund, unit trusts, or ETFs, growing your money is key to building wealth.
• Cut down on expensive debt
• High-interest debt, like credit cards, is the quickest way to lose your financial footing. Free yourself by making debt repayment a priority.
• Ask for help
• Financial advisers aren’t only for the elite. A good adviser helps you understand your finances, avoid mistakes, and craft a plan that suits your lifestyle and goals.

Your payslip is more powerful than you realise

Beyond the headline salary, every deduction and benefit on your payslip has a purpose. “From an economic standpoint, your salary is one of your greatest national contributions,” O’Connell explains. “Your taxes fund social services, your pension builds your future, and your medical aid keeps you and your family healthy.”

By truly understanding your deductions and why they exist, O’Connell believes South Africans can empower themselves to make smarter decisions. “Contributing to a retirement fund might feel like a sacrifice today, but it protects your dignity tomorrow. And if your employer offers group life cover, that’s financial security for your loved ones – without extra costs on your part.”

From hustle to legacy

O’Connell says the time is now to shift our mindset from survival to sustainability. “We’ve inherited the freedoms fought for by generations before us. We must use those freedoms to build financial strength – household by household, salary by salary.”

As Workers’ Day reminds us of the value our contributions make, it’s also an opportunity to reflect on what we’re building. “You work hard for your money, so now it’s time to make sure it works just as hard for you,” concludes O’Connell.

PERSONAL FINANCE