By Anita Booi – CEO and Founder of Matmichmel Innovation Hub (Pty) Ltd
October Transport Month: Steering Your Finances in the Right Direction.
October is not just another month on the calendar – it’s Transport Month, a time to celebrate movement, innovation, and the journeys we take every day. But this year, let’s look beyond cars, buses, and trains, and talk about something deeply connected to transport: our money.
For many young people, transport is more than a way to get from A to B. It’s one of the biggest expenses in your budget and often one of the first adult financial decisions you’ll ever make.
The way you move today – whether you’re buying a car, hopping on a bus, or sharing a ride – can shape your financial journey for years to come.
Owning Your First Car: Excitement Meets Responsibility
There’s nothing like the feeling of buying your first car. It represents freedom, independence, and a new chapter in life. But with great freedom comes great responsibility – and great expense. Car ownership isn’t just about the purchase price. It’s about insurance, fuel, maintenance, parking, and even tolls. Many young drivers underestimate these hidden costs.
Example: Let’s say you buy a car for R150, 000. Add R1, 500/month for insurance, R2, 000/month for fuel, and R500/month for maintenance. That’s R4, 000 every month – before you’ve even paid off the loan. For someone earning R12, 000, that’s a third of your salary gone, just on transport.
Smart move: Before you buy, test the budget. For three months, put aside the amount you’d spend monthly on car costs. If you can’t sustain it comfortably, it might not be the right time to own a car.
Public Transport: The Budget-Friendly Hero
If car ownership feels out of reach, don’t stress. Public transport can be your financial lifesaver. Monthly passes or student discounts are often far cheaper than driving, and they save you from surprise expenses like repairs or rising fuel prices.
Switching to buses, trains, or taxis doesn’t just save money – it saves time and stress. Plus, it’s better for the environment. Case in point: A young professional spends R3, 000 monthly on fuel and parking. Switching to a R1, 200 bus pass saves R1, 800 each month. Over a year, that’s over R21, 000 – enough to invest, save for a deposit, or even start a side hustle.
Ride-Hailing Apps: Convenience Comes at a Cost
Uber, Bolt, and other ride-hailing apps are convenient, safe, and perfect for emergencies. But using them daily can quietly drain your budget. Think about it: R150 a day for trips to and from work equals R3, 000 a month. That’s the price of a bus pass – or a solid investment contribution.
Pro tip: Treat ride-hailing like entertainment. Set a monthly limit, split trips with friends, and use it for nights out or when you really need the convenience.
Cycling, Scooters, and Walking: The Underrated Options
Not all transport has to come with a price tag. Cycling, scootering, or walking are affordable (sometimes free) alternatives that also improve your health. In many cities, short-distance trips under 5 km can easily be done on foot or with a rented bike.
These underrated methods save money, reduce stress, and often get you places faster than sitting in traffic. Thinking Long-Term: Transport Choices and Your Future
Your transport costs today affect your financial future. Every rand you save on commuting can be redirected toward:
• An emergency fund
• A first home deposit
• Investments or retirement savings
• Even that dream trip abroad.
Example: Saving R1, 500 every month for five years equals R90, 000. With smart investing, that number could grow into something far bigger. That’s the power of turning short-term choices into long-term opportunities.
Innovation is Your Friend
Transport is changing fast. Car-sharing, app-based rentals, ride-pooling, and electric scooters are rewriting how we move. They’re often cheaper, greener, and more flexible than traditional options.
Embracing these innovations isn’t just trendy – it’s a financial strategy. A young person who’s open to alternatives often saves money and reduces debt compared to peers who rush into car ownership too soon.
Finance Hacks for Young Commuters
Transport Month isn’t just about celebrating movement – it’s about moving smarter. Here are a few hacks to keep your wallet happy:
• Follow the 50/30/20 Rule: Keep transport below 15% of your budget.
• Track and Cut: Use apps or a notebook to track spending. Small cuts add up.
• Car Ownership Test: “Trial run” your car budget by saving that amount monthly before you buy.
• Save the Difference: If public transport saves you R1, 500, move it straight into a savings account.
• Split Costs: Share rides, fuel, or parking with friends.
• Think Green, Think Wallet: Walking, cycling, or scooters save money and improve health.
• Plan for Emergencies: Keep R500–R1, 000 aside for last-minute transport needs.
Final Thought
This October Transport Month, reflect not just on where you’re going, but on how your financial choices about transport can shape your future. Whether you’re cruising in your first car, swiping for a bus pass, or zipping around on a scooter, every choice you make tells a story about the life you’re building.
Good transport gets you to your destination. Good financial habits get you to your dreams. So, as you move through this month, remember smart mobility = smart money. Your future self will thank you.
