Make time for your finances this festive season (Part 2)

by | Dec 9, 2021 | Personal Finance

Scale down

  • Cancel subscriptions to apps you don’t need.
  • Cancel duplicate insurances, especially those offered as a side product.
  • Switch to  cheaper packages (eg; DSTV)
  • Check out the terms and conditions and cancellation clauses and penalties applicable.
  • Get comparative quotes on medical aids, insurance etc . This could save you quite a bit of money.
  • A roof over your head is a necessity. Paying rent in an area you can’t afford isn’t. Considering relocating to a cheaper location. Sometimes, just a few blocks makes a huge difference in rental prices
  • You need transport to get around. But do you really need a big fuel-guzzling car with the price of petrol these days? Consider changing to a vehicle with a lower fuel-consumption, especially if you are working from home


Save money on the way you do things

While it’s not always possible to physically put money under the mattress or in a savings account, we can still “save”.

  • Switch off your geyser during the day. If you save R10 a day on electricity this way – that’s R300 a month that can go towards something else
  • Make food that feeds more people – and where leftovers can be frozen. Soups and bredies (even without meat) go a long way these days.
  • Medicines are costly. Make your own immune system boosters from natural ingredients.
  • Check for specials on cellphone data and airtime deals during this time.


Do your homework and find cheaper food prices

  • Sadly, the price of food  and staple products have increased tremendously over the last year.  Sometimes by as much as 30% on basic items like rice and sugar. By keeping track of “specials” of various grocery stores, you can save at quite a bit of money on your weekly or monthly grocery purchases.


Start an emergency savings fund

  • With many people struggle to even afford the basics these days, saving money might seem a little far-fetched. Yet, if Covid-19 has taught us anything, it is that we need to be prepared for anything.
  • Even if it is a small amount, try and set aside some money on a regular basis. It all adds up.
  • If you set aside just R5 a day, every day for a year – you would have R1 825 to show for it.


The most important bit of advice that I can give today is this:


Don’t try keeping up with the Jones’. There are no more Jones’s!

  • Ask for help and take help when it is offered.
  • Visit financial sites, and become  empowered by gaining as much information around your rights and options as a consumer and a debtor.
  • Remember, it’s OK to be worried and stressed about your finances. Just don’t let it consume you. 


Make the time and the effort this holiday season to get a clear view of your finances. It can only stand you in good stead.

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