Saving money in advance for the festive season and making sure you can meet your holiday and January commitments is good for your finances and your wellbeing. Imagine being able to relax during the December holidays without worrying about how to pay the school fees in January. Now is a good time to start saving.
Create a vision board
Paste pictures onto a large sheet of paper of whatever you want to save for, e.g. a dream family getaway. Place your vision board in a place where you can see it every day and be inspired.
Review expenses
Create a list of all your expenses to see what you can save. No spare cash at the end of the month? Here are some tips.
- Switch off your geyser during the day to save on electricity
- Take leftover home-cooked meals to work instead of buying fast-food
- Reduce travel expenses by sharing a lift to work, or walking to the shops
- Put your spare change in a jar instead of buying sweet treats
- Borrow a smart outfit for a special function instead of buying one
- Be a savvy shopper; compare brands and products, and watch out for seasonal sales and discounts.
- Ask your family and friends to give you more ideas.
Open a 30-day call account
Open a 30-day call account to earn extra interest on your savings. Decide how much to save each month, but be realistic. It’s better to commit to a small, manageable sum. You can always add to it later; every little bit helps. The trick is not to touch the money you’ve set aside.
Establish an automatic debit order
Create a debit order for your savings on the 1st of each month. This way part of your income automatically goes directly to your 30-day call account without you having to think about it.
Chart your progress
Make it visual and track your progress with a chart which you can put on the fridge. You could even start a competition with a friend who can save the most.
Call to action:
Connect with a LifeAssist financial coach to support you on your journey to financial wellness.