Save and Borrow on a Domestic Worker’s Salary in South Africa
For both housekeepers and gardeners, managing finances on a domestic worker’s salary is difficult and can feel challenging. A recent report by SweepSouth, an online platform that surveys thousands of domestic workers across South Africa, shows just how tough it is. About 75% of domestic workers can’t afford to save any amount each month, and only 13% have any kind of savings or pension plan.
With most earnings going to rent, groceries, school fees, transport, and sending money home, very little is left at month-end.
Practical Tips for Saving Money
Saving money, even a little at a time, is essential for building financial security. Here are some ideas tailored for domestic workers:
Budget Your Income
A budget helps you track your expenses and makes sure your money goes to essentials first. Start by listing your earnings from your domestic worker’s salary and breaking down your spending into categories like groceries, transport, and fees. Make savings a part of your budget, even if it’s just 5% of your income each month. Once you know your numbers, you can look for ways to stretch your money.
Shop Smart
When it comes to groceries and daily essentials, try teaming up with friends or family to buy in bulk and catch special deals on non-perishables like tin food, nappies, or cleaning items.
Join A Stokvel
These community-based savings schemes help build discipline and offer access to lump sums when needed.
Save on Transport
If taxi and bus costs are eating up a lot of your domestic worker’s salary, try to plan errands together to save on multiple trips.
Use A Savings Jar
Whether it’s coins or notes, they add up at the end. Make it a habit to put away something small every week.
Avoid Impulse Purchases
Sticking to your budget is important. Small, unplanned purchases add up over time, so focus on needs first and keep those extra rands for savings.
When You Need to Borrow, Borrow Smart
There are times when borrowing is the only way to cover emergencies or big expenses, but the key is to borrow responsibly and choose options that suit your needs and budget. Choose trusted institutions registered with South Africa’s National Credit Regulator (NCR). This ensures they follow fair and honest lending practices. Loans can give you short-term relief, but carefully consider your ability to repay your loan on time to avoid long-term stress.
Atlas Finance’s Domestic Workers Loans
As a domestic worker, you may qualify for a Domestic Worker Loan from Atlas Finance. These loans are designed specifically for housekeepers and gardeners. You can borrow up to R4000 and have up to 4 months to pay it back.
To apply, you just need:
- A valid ID or passport
- Last 3 months of bank statements
- A current bank card
At Atlas Finance, no payslip or permanent contract is required, making the process easier for those earning a domestic worker’s salary. It’s quick and easy, just visit your nearest Atlas Finance branch to get started or apply online here.
Build Financial Confidence
Most importantly, when managing a household on a domestic worker’s salary, it’s essential to be well-informed about your options and make the best choice suited for you. Remember to try to save a little when possible. Borrow only what you need, and from a place that treats you fairly.
At Atlas Finance, we’re here to support everyday South African domestic workers with loan options that are honest, affordable, and easy to access. Because everyone deserves a bit of breathing room and a bit of hope.
