u/Curious-Yoghurt-9027

Hi Everyone! I (25F) have just started getting my life together financially. I have recently gotten a medical aid, bought a car and got car insurance. The only debt I have currently is my car which I still owe R135k, (monthly instalment of R2500 for 5 years without interest as I am buying from a family friend.) and a TFG account sitting at R1500.

I earn R20k after tax, and after everything is paid for in a month I have about R1000 left to put in savings. I’m starting an emergency fund but also want to invest in a retirement plan and don’t know which should be the priority right now.

My company does not have a pension fund included in my benefits and so I need to do it in my personal capacity.

**My questions are:**

What institutions would be best to inquire with given my financial situation?

Should I prioritise an emergency fund first or split what I can save into an emergency fund and pension plan?

Is R1000 a month savings enough for someone with my salary or should I try and cut costs in groceries/entertainment to try and save more?

Hi Everyone! I (25F) have just started getting my life together financially. I have recently gotten a medical aid, bought a car and got car insurance. The only debt I have currently is my car which I still owe R135k, (monthly installment of R2500 for 5 years without interest as I am buying from a family friend.) and a TFG account sitting at R1500. (I want to pay it off and close it within the next 2 months)

I earn R20k after tax, and after everything is paid for in a month I have about R1000 left to put in savings. I’m restarting an emergency fund that I had to use for my dog's emergency surgery (I have since gotten pet insurance) but also want to invest in a retirement plan or TFSA as I feel panicked about long-term savings now that my emergency fund got depleted and I have to start from scratch.

My company does not have a pension fund included in my benefits and so I need to do it in my personal capacity.

Expenses-
Rent: 4500
Utilities: +-600
Car: 2500
Car insurance: 1250
Petrol: + -4000
Medical aid: 1500
Pet insurance: 250
Pet food: 350
Groceries: 3000
Entertainment: 1000
Savings: 1000

My questions are:

Should I start a TFSA before a retirement fund? And should I start my TFSA with Discovery as I bank with them?

Should I prioritise rebuilding my emergency fund first or split what I can save into an emergency fund and pension plan/TFSA?

Is R1000 a month savings enough for someone with my salary or should I try and cut costs in groceries/entertainment to try and save more?

How much should generally be saved in an emergency fund? My last one was 3 months salary but I'm scared as it took really long and I feel anxious about my long-term savings.