Part 2 - Tricks to start saving

2017-04-13 06:02

By Juggie Govender of East Coast Financial Services (Pty) Ltd – FSP 44760


5. Use your company benefits - If they offer a housing allowance, a car allowance, free courses, access to certain events – use them. If you’re saving even R500 because of the company benefits you’re using, within a year or two it will be quite a substantial sum.

6. Empty the small change out of your wallet every day - It will be a few rand every day. Put it in a jar (not where your kids can see it!) and you will be surprised at how much is in there at the end of the month.

7. Hide your credit cards - Keep them in a safe place at home. These cards are not for everyday use, as it’s simply too easy to use them to spend money we don’t have. Rewards yourself with a fixed amount if you can keep your credit card spending to a certain minimum – you will have saved a lot of interest anyway. If you can do without, then do without one.

8. Learn to cook. And when you do, you will also learn how to make tasty and inexpensive meals. Cook in bulk and freeze the food. In that way, you’ll be less tempted in future to eat out or get takeaways if you have no time to cook. You can just pop something into the microwave. Put the money away. Dining out is not cost effective. If you need to dine out, choose special occasions only i.e. birthdays, anniversaries, etc.

9. Cut down or stop smoking and drinking - This will be good for your health, reduce your medical bills, and cut down on your daily expenses. Regular smoking and drinking can be extraordinarily expensive. A heavy smoker could save enough by quitting and affording an overseas trip within a year. You can also put this away for your child’s education.

10. Don’t go to the shops - Or when you do, have a list and stick to it. Big retail companies have squadrons of staff whose job it is to make you buy things you don’t really need. Shop displays and even how things are stacked on the shelves are aimed at trapping unwary shoppers. Try and avoid the shops as far as you can, as impulse buying of any kind wreaks havoc with any carefully laid-out budget. Reward yourself with a movie ticket if you manage to stay out of the shops for a certain period of time.

This article is an excerpt from FIN24.

You could contact me on 083 399 3905, my office on 032-944 3051 or e-mail me on for an appointment or further information and any other financial advice.


The information is only intended to be of a general nature and should not be relied upon by any part without obtaining full details from a licenced financial service provider.






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