Saving money is a key to financial success, according to Vangile Makwakwa, founder of Wealthy Money and a personal finance coach. Speaking at the Momentum Science of Success conference on Thursday, 21 November, at The Venue Green Park in Sandton, Makwakwa emphasized the importance of saving—regardless of your income.
“It’s not about how much you’re earning; it’s about having the courage to save,” said Makwakwa. She shared her own journey, explaining how she started by saving just R200 a month for two years. “It was tough, but it’s how I built the habit of saving.”
Makwakwa urged attendees to start small and practice habit stacking—a technique of gradually building positive money habits over time. “We often say, ‘I’ll start saving when I make more money,’ but when that happens, we still don’t save,” she explained. “Habit stacking teaches you to do small things consistently that will lead to bigger financial changes.”
Even for those making good money, she pointed out, the challenge often lies in building the habit of saving. “Some people started saving as little as 25 cents a month. Within three years, they were saving R1,000 a month.”
Her advice was simple: begin saving with whatever you can afford—whether it’s R5 or R100 a month. “It’s not about the amount; it’s about forming the habit.”
In addition to saving, Makwakwa stressed the importance of having both savings and emergency funds.
Qhawekazi Mdikane, the executive head of Momentum Brand, also addressed the conference, underscoring that success is not accidental but the result of consistent effort and positive habits. “Success comes from deliberate, consistent actions,” she said.
Mdikane highlighted habit stacking as a key tool, referencing James Clear’s book Atomic Habits as a guide for forming productive habits. “Start by identifying a habit you enjoy, then build on it. Over time, small positive changes will lead to greater success.”
The event, held at The Forum in Bryanston on 22 November, aimed to encourage South Africans to start saving and seek financial advice to plan for long-term financial growth.
In the end, the message was clear: regardless of income, building the habit of saving—and starting small—is the first step toward financial security.
