It may seem far-fetched and impossible to save money in a year predicted to be even more difficult than the previous. It is possible, though!

1. Control your finances

Draw up a budget and stick to it. You can’t find a path through the wilderness when you’re blindfolded. A budget helps you see the bigger picture. Also, get out of debt as fast as you can and start saving for a rainy day even if it’s only by putting all your R5 coins in a jar or piggy bank!

2. Use cash

Only carry enough in cash to cover your purchases for the day and leave your credit card at home. This will help you budget how much you are going to spend before you leave home and what you are going to spend it on. It will also help curb impulse spending.

3. Hit the after-season sales

Shop for winter clothes at the beginning of summer when shops are desperate to get rid of old winter stock and vice versa. Don’t blow your budget on extreme fashion trends that won’t last but make a bee-line for the expensive stuff such as good quality coats, cardigans, shoes, especially winter boots, etc. Do the same with Christmas gifts and decorations.

4. Pay now, fly later

Plan next year’s holiday now. Save on airfares and hotel or other accommodation by booking well in advance and at the “old” year’s prices. Fly mid-afternoon or mid-week for further reductions. Go on holiday during the off-season − or stay at home.

5. Eat out on/at the house

Look for special offers such as “buy one get one free”, etc. Many restaurants also have loyalty cards where you can earn points and eventually a free meal. The best alternative is to stay home and prepare your own meals using fresh, organic vegetables from your own vegetable and herb garden!

6. Drive like a gogo (grandmother)

Hug the slow lane and drive as slowly as you can (100 km per hour or slightly less on the open road) to save on fuel. Don’t let the taxis bully you – ignore them! Also, check out what your car is worth at the moment (current residual value) and ask your insurer to adjust your premiums.

7. Save on electricity

Your geyser and stove, especially the oven, push up the costs of your utility bill. Put a timer on your geyser and remember to switch off before you go on holiday. Remember that rates are higher during peak times (early mornings and after five in the afternoons). Use solar energy where possible.

8. Drop the DStv subscription

Yes, it’s possible! Movies and must-watch series can be rented or bought cheaply (three DVDs for R100, etc.) and because bad news travels fast, you can and will be kept abreast of current events, anyway.

9. Be kind to the environment – go green

You will be surprised to find out how inexpensive and easy it is to use more natural ingredients such as bicarbonate of soda, lemon juice and vinegar, etc. to clean your home.

10. Save on medical costs

Stay healthy; eat a healthy diet, exercise regularly, on the cheap not at the gym, get enough sleep and stop to smell the roses!

 

Sources

Expert tips for surviving the weak rand. Retrieved from: http://www.fin24.com/Money/MoneyManagement/expert-tips-for-surviving-the-weak-rand-20160112
Thirty tips to help you save money. Retrieved from: http://www.essentials.co.za/money-work/spend-less-worry-less