General Money Saving Tips

Now, more than ever it is important to implement all those general money savings tips that we have been hearing about through the ages. Everyone is struggling, and it is vitally important that we all start to differentiate between wants and needs and start saving money.

Saving money is not necessarily about putting money into a bank account or under your mattress. There are some great life hacks which can also save you money.

Make a list of your necessities and your luxuries in life

  • Be honest and write down all your needs (necessities) and wants (luxuries) in your life right now.
  • If you have trouble going ‘cold turkey” and just cutting out all your luxuries altogether – then rather formulate a plan whereby you tick off at least 3 things every month, until your financial situation improves.
  • See to it that your necessities are paid, and if you have spare cash available, rather put it towards paying off your debt or save it.


Scale down

  • Cancel subscriptions to apps you don’t need.
  • Stop your DSTV or switch to a cheaper package.
  • Check out the terms and conditions and cancellation clauses and penalties applicable.
  • Check your medical aid and see what your options are to scaling down to cheaper, more suitable packages.
  • Consider keeping fit from home or your surroundings instead of renewing an expensive gym contract.


Find cheaper prices

  • Take the time to do your homework and find cheaper prices for food, airtime, data and everything else.
  • Save money by redeeming online vouchers and loyalty points (from various service providers)


Talk to your children about the financial situation in the house.

  • Make your children aware that you will be saving money, rather than spending it. This will give them the chance to work with you, instead of against you.


Use the “envelope cash” method.

  • When using cash, use the “envelope method” and split it into categories. Seeing the money leave the envelopes makes the process of spending seem more “real”.
  • It’s always good to have ‘miscellaneous” cash envelope. Remember that once the envelopes are empty, they are empty.
  • Using the “envelope method” is a very good way of instilling discipline in dealing with cash.


Automatic savings transfer on your salary

Use your banking app to put an automatic transfer of a certain amount to your savings account when your salary gets paid every month. This way, it will seem like just another salary deduction that must come off your earnings, but will ensure that you have some savings at hand if your need it.


Energy saving tips

Sometimes the simplest actions have the most impact

  1. Turn off lights when you leave the room.
  2. Only turn on your geyser for shower time rather than leaving it active all day.
  3. Use a geyser blanket to reduce the amount of energy needed to warm water.
  4. Install a renewable energy system for your house, solar panels and solar water heaters minimize long term costs.
  5. Turn off standby appliances to save on casual waste – it builds over time.
  6. Thaw frozen food in the fridge or in hot water rather than the microwave.
  7. Use energy efficient light bulbs and connections to reduce as much as possible.
  8. It might involve some effort and initial financial outlay – but changing to energy saving light bulbs can save you a considerable amount of money in the long run.
  9. Saving R10 a day on electricity – means a saving of R300 for the month.
  10. This R300 can go towards your living expenses, debt or savings.


General money savings tips can come in handy, but sometimes more than that is needed. If you are feeling overwhelmed by your debt and your living expenses, contact NDA today.





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