Debra Slabber | Welcome to adulting: here’s what to do with your first salary

04-06-25 / Debra Slabber

Debra Slabber | Welcome to adulting: here’s what to do with your first salary

As South Africa marks Youth Month this June, many young adults are entering the workforce and receiving their first salaries. But while this moment is exciting, it also presents a critical opportunity to build strong money habits early.

Debra Slabber, Director and Portfolio Specialist at Morningstar Investment Management South Africa, reflects on her own early financial experiences and shares four practical lessons she wishes she'd known when starting out:

1. Understand the basics of money

Financial literacy is often overlooked in our school system and rarely discussed openly at home. "Learn to budget, spend wisely, and grow your wealth," says Slabber. "Just a little effort upfront can make a big difference later. The goal is financial confidence, not perfection."

2. Spend less than you earn

It's the golden rule of personal finance, and yet it's often ignored in the early years. "There's no shame in living frugally while you build a foundation," Slabber notes. "Avoid using debt to fund your lifestyle. Loans should support long-term goals, not short-term gratification."

3. Start investing - no matter how small

Even R250 a month can make a meaningful difference when invested consistently over time. "Time is your biggest financial advantage," Slabber explains. "Harness the power of compounding now, and your future self will thank you."

4. Enjoy the process of building wealth

Building wealth isn't about deprivation. It's about empowerment. "There's joy in taking control of your finances and seeing your progress over time," says Slabber. "Learn about the different tools available, track your growth, and celebrate the small wins."

Slabber's advice is clear: the earlier young South Africans start making smart money choices, the better positioned they'll be for long-term success. With the right habits, a first paycheck isn't just income - it's a launchpad to financial freedom.