Part 2 - Tricks to start saving

2017-04-13 06:00

THIS article is a continuation from the column that appeared in the Weekly in March.
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 take-aways 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 juggieg@telkomsa.net for an appointment or further information and any other financial advice.

Disclaimer

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.

 

 

 

 

?

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
ADVERTORIAL
Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.

/Africa
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.