by Kathryn Main

A few years back, I remember listening to a female business owner share her success story. She said something that has stuck with me for over 10 years. She said “People do business with people, not businesses. Build and maintain your relationships with your customers, suppliers and teams, these are the people who will help you succeed.” At that moment my sales strategy for my own business changed drastically. I was so over cold calling and decided to build a real network and team for my business. I changed my approach and started going to more networking events. Its pretty daunting walking into a room full of people and you don’t know anyone, but this is a great way to meet people. You are forced to talk to strangers, so you don’t look like the outcast in the corner.

by Kathryn Main

As a small business owner, you bring an incredible amount of value to your business. To get a company up and running to the point where it is profitable is no easy feat. A business is something that requires you to devote a lot of attention and dedication to its success. Because it is so time consuming, you might get so busy running your business that you forget about yourself and the value that you can and do bring to the table. As your business grows and evolves, so should you. It's impossible to be a master of every aspect of business, so you will need to identify what aspects of your business you are least familiar with.

by Kathryn Main

What is automation, and why do I need it in my business? Automation simply means that you take some of your business processes and automate them. Automation is an important concept in business. It allows you to, for example, automate many functions in your business, such as finance and sales. By reducing the risk of human error in common daily tasks, automation enables you to manage configurations in a predictable and repeatable way, resulting in increased consistency and increased speed of change. Automation gives us more time to work on the business and less in the business.

by Kathryn Main

Marketing is the planning and action of promotional activities that result in the selling of products or services. Your marketing strategy is the road map you will use on a day-to-day basis to let potential customers know that your business exists. Marketing messages should be tailored to your customers and highlight the problem that you solve for them in a concise and effective manner. Marketing efforts are normally campaign-driven and should take your potential customers on a journey with your business.

by Kathryn Main

What do you think I mean if I have to ask you the question; “Is your business compliant”? Most new business owners don’t understand what compliance is required in their type of business. Compliance will be different for different industries and income brackets.

by Kathryn Main

When I started my first business, I considered the financial side of things as “boring accounting stuff” – something I was not keen on initially. My feelings on the matter soon changed. Financial structures in your business are much more than mere accounting practices. As important as it is to manage your income and expenses, there is a lot more to setting up your financial structures than you may expect.

by Kathryn Main

When you are ready to start your new business venture, you need to think about all the ways this product or service can make you money. How many sources of income can you get from this one business? Can you build multiple income streams and make those income streams passive income streams?

by Kathryn Main

What is branding, exactly? Contrary to popular belief, branding is far more than just a logo. Your customers’ first impression of your company is formed through your brand. Therefore, your brand experience should be encapsulated and epitomised in your branding. This can be achieved through various elements such as…

by Kathryn Main

When it comes to naming your business, is your first thought to use your name, child’s name, initials, or joining your nieces’ names? I ask this because 70% of young people I mentor want to use one of the previous ideas to name their business. I’m not saying there is anything wrong with that, but does it convey the correct message to your potential customers and talk to what your business does?

by Kathryn Main

We have been through a tough two years emotionally and financially after the global epidemic that had us all scared and behind closed doors. In the months that followed, South Africa was hit with flooding, riots and an ever increasing electricity crisis. Throw in the war that started in 2021 and you will find a large number of working class people struggling to make it through each month.

by Kathryn Main

Most people would list things like “money”, “a business plan”, or “an idea”. While you do need an idea and a plan, and whilst money is not a prerequisite to start a business, that is not the answer I’m looking for.

by Kathryn Main

The shift to a work-from-home culture due to the pandemic has brought up new questions about taxes, expenses, and deductions. In this article, we'll explore how the new work environment affects your tax return and what you need to know to stay on top of your taxes.

by Kathryn Main

Ask any child what they want to be when they grow up and you will hear things like; “I want to be a doctor”, “I want to be a pilot”, “I want to travel the world” or “I want to save the whales”, but dreams cost money and if dreams cost money why are we teaching our children  to live the life of their means  and not live the life of their dreams? Financial freedom starts with financial education!

by Kathryn Main

The term “emergency fund” refers to money put away that people can use in times of financial distress. The purpose of the emergency fund is to improve financial security by creating a safety net to help cover unforeseeable, high-cost expenses which, in its absence, could have catastrophic effects on your financial situation.

by Kathryn Main

If you are a working person in South Africa right now you are feeling the pinch of the 3 interest rate increases, the 7 petrol price increases, the Eskom increase of 9.61%, all your annual subscriptions have gone up the average 10%. Suddenly you have less disposable income. This tells me 1 thing. Your expenses have gone up and your income has remained the same.

by Kathryn Main

The first time I set a financial goal was when I was 32 years old. It was a skill I needed to learn. I needed to formulate a plan to achieve my goals and I can honestly say that goal setting was one of the biggest drivers in changing my financial situation. I still set goals for myself each year because goal setting gives meaning and direction. Setting financial goals helps us focus on our finances.

by Kathryn Main

The first time I ever did a value exercise I was 38 years old. It was an interesting experience because I had no idea what I valued in life or in my financial life. My top value at the time was family. What was scary was I was not living up to my core value in any way, shape, or form.

by Kathryn Main

South Africa is a buy-now, pay-later society. The effects on young people’s financial literacy are thus characterized by the same behaviour patterns as parents and society. These are high credit and high consumer behaviour with very little savings, and in turn high social risk behaviour. Money Savvy is working to change this disastrous pattern.

by Kathryn Main

Gone are the days when the mom stays home to take care of the kids while the dad goes to work. I was fortunate when I was younger because my mom stayed at home. She on the other hand was totally unfortunate. When her and my dad divorced at 40, she had to start her life with nothing, never having worked and having no real skills.

by Kathryn Main

Life is like a game of snakes and ladders. You never know what the next roll of the dice is going to give you. It could be a snake (threat) that could cause you to regress in your financial life. Or it could be a ladder (opportunity) to take you to the next financial level of success.

by Kathryn Main

2021 is the best time to become savvy with your money. We learnt the hard financial lessons last year and now it is time to use those lessons to build a better financial future.

by Kathryn Main

Everyone’s life is different, but many have still been impacted in similar ways because of the impact of COVID-19. 2020 was a mean teacher but the lessons were clear. In some way or another, you and your family have probably been impacted by a job loss or reduction in income. 2021 is promising a bit of the same and the potential for more job losses, pay cuts and reduction in income is prominent. I join you in shouting “this sucks!”

By Kathryn Main - Money Savvy Kids

We all know the month of January is filled with countless unavoidable worries of the financial kind. Others may feel it more than others, but we all feel it non-the-less. We make lunch boxes for the first time in weeks, we carpool to work, and we stop buying coffee at that gourmet coffee shop on the way to work and instead make it ourselves. Basically, we go into level 1 of survival mode when it comes to our finances due to the crunch we feel.

by Kathryn Main - Money Savvy Kids

The world has been thrown off its centre due to Covid-19 and the implications thereof. Our country is in a state of emergency and lockdown has resulted in jobs being lost, salaries being cut, personal finances being destroyed and an economy that is damaged. However, despite these circumstances we still have to find a way to manage our finances, take care of our families and ourselves and move forward.

Kathryn Main - Money Savvy Kids

We all know that life during COVID 19 is filled with countless unavoidable worries of the financial kind. Some may feel it more than others, but we all feel it non-the-less. We are losing our jobs, taking salary cuts and closing our once thriving business. Basically, we go into level 1 of survival mode when it comes to our finances due to the crunch we feel.

by Kathryn Main, founder of Money Savvy Kids

The most wonderful time of the year is also the most expensive. When the Christmas spirit takes over, that one crucial ability to save is conveniently misplaced. This loss of ability is seldom noticed, but will deal a detrimental blow to your bank account in the long run. Money Savvy Kids (MSK) is built on the foundations of saving and budgeting, just to name a few. And it is here to help you through the hardest time of the year by saving and budgeting your way to a worry-free January. 

by Kathryn Main, founder of Money Savvy Kids

When I think about failure I truly believe I am an expert on this subject. I have failed in every area of my life many times - personally, financially, and in business. If you want advice on how to handle failure, ask an expert!