Story
By Palesa Hlongwane
Sanlam
On 15 February 2025, employees of Bokamoso Cleaning Company in Welkom gathered at a park for a worksite training on financial management. The session covered budgeting, managing debt, boosting income, and funding a funeral—topics that struck a chord with many of the employees who had long struggled with financial uncertainty.
Among the attendees was Lerato, a 42-year-old team leader with three children and a deep worry about her family's financial future. For years, she had relied on monthly loans to cover unexpected expenses, constantly trapped in a cycle of debt. She also had no proper funeral plan, meaning that any family emergency would leave her scrambling for funds.
As I guided the team through practical budgeting techniques, Lerato had her “ah-ha” moment when I introduced the 50/30/20 rule—allocating 50% of income to needs, 30% to wants, and 20% to savings or debt repayment. She realized that by tracking her expenses and cutting out unnecessary spending, she could gradually pay off her debt and start saving for emergencies.
The session on boosting income also opened her eyes to side hustle opportunities. Inspired by the discussion, she thought about using her skills in baking to sell homemade muffins at work, creating an extra income stream without interfering with her job.
By the end of the training, Lerato felt empowered. She committed to:
✔️ Creating a monthly budget to manage her salary better.
✔️ Paying off her small debts first and then tackling the larger ones.
✔️ Researching affordable funeral plans to ensure her family was financially prepared.
✔️ Starting her muffin business as a way to boost her income.
This training was more than just a financial lesson—it was a life-changing experience for Lerato and many others at Bokamoso Cleaning Company. It proved that with the right knowledge and small, consistent changes, financial freedom is possible!