Tips to help you save

TRY TO FIND BET­TER WAYS TO BE MORE PRU­DENT

The Citizen (KZN) - - BUSINESS - Here are smart tips: 1. Be trol­ley smart 2. Spe­cial cau­tion 3. Track your spend­ing 4. Avoid take­aways 5. Prac­tise fuel-saving tips 6. Spend wisely on en­ter­tain­ment 7. Take the movies home 8. In­vite, don’t go out 9. Be wa­ter and elec­tric­ity wise 10. Pri­ori

Con­sumers are un­der an im­mense amount of pres­sure with ris­ing fuel and en­ergy costs and com­mod­ity prices. In­surance is of­ten one of the first costs to be cut when bud­gets are tight. This can have mas­sive fi­nan­cial im­pli­ca­tions.

It’s im­per­a­tive to rather in­ves­ti­gate more cost-ef­fec­tive op­tions, re-pri­ori­tise spend­ing and adapt your bud­get to make al­lowance for the ever-in­creas­ing cost of liv­ing. – make a list, cre­ate weekly meal plans, avoid shop­ping at con­ve­nience stores and com­pare each item’s cost be­fore buy­ing it. Buy VAT-free items like fresh and frozen fruit and veg­eta­bles, rice, maize meal and brown bread, and avoid im­ported or out-of-sea­son prod­ucts.

– be­ware of get­ting caught up in spe­cials and dis­counts. Even a re­ally good deal costs money. Have a plan and a bud­get go­ing to pre­vent get­ting car­ried away. Set a limit to how long you spend on­line and check mar­ket­ing emails from stores, to avoid un­nec­es­sary temp­ta­tion.

– free apps make bud­get­ing and track­ing your spend­ing easy. Some ex­am­ples are: 22seven, MyFi­nan­cialLife, Sage Pas­tel My Money, Spend­ing Tracker and Money Mam­mals® Save for a Goal.

– it can be­come a habit a few times a week. Sim­ple meal plan­ning and cook­ing in bulk can ease the strain on your en­ergy and wal­let.

– at 110km/h your car uses up to 25% more fuel than it would cruis­ing at 90km/h. Keep­ing a safe fol­low­ing dis­tance, avoid­ing harsh brak­ing and ac­cel­er­a­tion and reg­u­lar ve­hi­cle main­te­nance checks, could save as much as 40% on your fuel spend.

– take ad­van­tage of dis­counts and spe­cial of­fers on movies and shows to meals at res­tau­rants and places of in­ter­est. Sign up for news­let­ters that ad­ver­tise the lat­est pro­mo­tions. Pack snacks when­ever pos­si­ble to avoid pay­ing the high cost of con­ve­nience items.

– go­ing to the movies could mean a bill of hun­dreds of rands if you get pop­corn, drinks and sweets for the whole fam­ily. With ac­cess to dozens of movies and se­ries now eas­ier than ever, en­joy that cine­matic ex­pe­ri­ence in your own home rather than in a the­atre – re­fresh­ments in­cluded.

– in­stead of go­ing out for din­ner with friends, have a bring-and-braai, brunch or tea at home. Mak­ing fin­ger sand­wiches, pop­ping a cake in the oven and putting out a few bags of chips is a cheap, cheer­ful way to en­ter­tain. – a leak­ing tap, wa­ter left run­ning, in­ef­fi­cient bulbs or lights and ap­pli­ances left on un­nec­es­sar­ily could cost the planet and your pocket dearly.

– pay­ing off your debts will help free up money for day-to-day ex­penses and saving. Pay off smaller debts – once they’re gone, it frees up money for the next-small­est debt, etc. Pay non-ne­go­tiable debts – eg your home loan and car re­pay­ments. Pay debts with the high­est in­ter­est rate first – this can help make monthly re­pay­ments more man­age­able. Su­san Stew­ard is mar­ket­ing man­ager of Bud­get In­surance.

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