Denise Hardman, Chief Marketing Officer of Wealth Migrate shares basic tips on how we as women can streamline our finances.
Cook and pack your own meals at home
When you cook at home, make some extra for that future quick meal when you are running out of time, even better take leftovers into the office for lunch. Reduce or eliminate eating out or getting take-out where you can, expenses can add-up quickly.
Join retail stores which offer rewards loyalty program
These allow you to earn points for shopping or participating, you can use your points to get cash off your next shop, discounts off monthly selected item or vouchers for that free magazine or cappuccino. And buy generic brands where you can.
Start a vegetable garden
This is a splendid hobby that can often turn a profit in saving if done right. Focus on veggies which are easy to grow and water wise and produce abundant fruit, like tomatoes. Herbs and salad greens can also tolerate much drier conditions and save you money when grown at home.
Stop buying so much clothing
Focus on buying fewer but higher-quality pieces of clothing that complement the wardrobe you already own. You will be surprised at how little you need to look good.
Reduce grooming expenses
Instead of having your hair styled weekly, nails and waxing done twice a month, cut back to monthly. If you buy expensive shampoos and products, look at lower-cost options with similar benefits and local brands who offer refill options, often the packaging is more than 50% of the cost.
Reduce or eliminate consumable habits such as smoking, alcohol etc.
Any consumable habit can be draining on the purse and often overlooked in the budget. Cut back drastically and measure at the end of each month as to how much you are consuming by keeping empty bottles and packets, you might get a not so pleasant surprise at the monthly quantities.
Reduce or eliminate your cell phone bill
Nowadays with the growing trend of offering free WIFI in most places, if you not using your cell phone as much downgrade to a cheaper plan, look at the features you are using on your account monthly and trim where you can or change to a pay-as-you go option.
Shop around for insurance
We all need insurance to protect us against the unexpected but with so much competition in this sector there are so many various options out there. Shop around at least every three to four months and do your comparisons.
Cut down on your energy bill
From hot summers to cold winters and all the devices we use, technology has brought us a few effective ways to improve our energy usage. So install CFL or LED light bulbs, unplug all unused electrical devices, lower the temperature on your hot water heater and air seal your home.
By simply changing a few of your habits and measuring the impact you might find that at the end of each month you will soon have that R1000 savings to invest.
Join us at the Women & Wealth event where our speakers will share their journey to financial independence and key lessons on how to redefine your relationship with money.
|Date: 16 September 2017|
Venue: Radisson Blu, V&A Waterfront
Start time: 08:00 for 09:00
End time: 13:30
Ticket costs : R150 for adults (18 years and older)
R70 for young adults