Budget plans to manage your money in 2022 | King Price Insurance

You cannot argue with the fact that the last 2 years have taken a toll on our personal finances. And turn around, we get it. We understand how crazy it can get for people in this economy to save money, pay down their debt and work toward their financial goals.

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

We hope that you will be inspired and find a plan that better suits your circumstances and is more likely to help you achieve financial freedom and achieve your dreams. Of course, if we can support your money goals with cheaper insurance, that’s just icing on the cake!

Various budget plans for you to explore

Schedule 50/30/20

This is ideal for people who don’t want to go into too much detail as you only have to work in 3 categories: 50% of your income for essentials, 30% for anything else you desire and 20% for savings and debt management .

Let’s say you earn 10,000 rand. Immediately take R5,000 for your needs and obligations such as accommodation, transport and car insurance. You take R3,000 for fun and the remaining R2,000 is for saving or paying off small debts.

It’s good for: Learning how to categorize your “needs” over your “wants.”


Zero-Based Budget is that simple (and it’s a really good name). You calculate your monthly income, add up your expenses and savings, and subtract them from your income so that you end up with zero.

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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 you end up with 0 when you subtract from the incoming money.

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

It’s good for: Teaching you how to be conscious about your money.

Pay Yourself First Plan

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

For example, if you bring in 10,000 rand and need 3,000 rand for your debt and 2,500 rand for savings, then you have 4,500 rand for your commitments and fun stuff. People who take this approach are more likely to look for the best deals, whether it’s the price of milk or car insurance.

It’s good for: Prioritizing savings and paying off debt.

The envelope system

It’s old fashioned, but it works. You start by calculating your income and break it down into different categories like housing, groceries, insurance, and entertainment. Once you figure out what you’re spending, label each envelope (we told you it’s old school) and slip the appropriate cash into 1.

It’s effective, but it can be cumbersome… For example, some payments can’t be made in cash or you could lose points offered by your bank if you don’t use your card as often.

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

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The “No” budget

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

It is good for: Reducing and avoiding debt.

The king has your back and your budget

We’re dedicated to helping people buy simple, affordable insurance so they can act responsibly and protect themselves from the costs associated with accidents, theft and other incidents that cause losses… while saving.

It is for this reason that the king is trying so hard to put in place a policy that makes sense and is realistic for the average South African household. There’s our multi-car discount (save with each additional car you comprehensively insure with us), our much cheaper Fire and Fury home insurance, our R1 insurance for certain portable possessions, and our royally customizable business insurance (so you only pay for those cover you need).

These are just a few examples of how you can save on your car, home, portable belongings 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 call on 0860 50 50 50 or click here for non-binding insurance offers today.

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