They say if you don’t believe that small things can accomplish great feats, try sleeping with a mosquito in the room. To save money can be incredibly hard, especially if you’re not a disciplined person. The key to saving success is to start small and start in a sustainable manner. Trying to put away R2 000 when you can only afford to save R200 will lead to failure.
So, how can you simplify saving? Read our tips and choose a couple to implement.
The piggy bank
Although it might seem old school, this is a perfect place to store all the loose change weighing your wallet down. By placing R10 in your piggy bank every day, you can save R3 650 a year. Remember not to open up your piggy unnecessarily.
The debit order
Open a savings account and create a debit order that transfers a set amount to this account every month. You can always add more money if you’re having a good month, but this way you’ll save “automatically” when all your debit orders go off before you start spending money.
The 30-day rule
Before making a big or gratifying purchase, implement the 30-day rule. Wait 30 days before handing over your money, if you’re still in love and can truly afford it, then go for it; if not, let it go.
Be wary of sales. Just because you don’t have to pay the full price, doesn’t mean you should buy it. If you are not willing to pay full price for something, you don’t really want it and should not buy it.
The shopping list
Make a list, check it twice and stick to it. When you go grocery shopping, don’t browse just buy what is on your list. Also, never go shopping when you’re hungry, you’ll only end up overspending and overeating.
Unsubscribe from sales emailers. You know, those mails telling you about specials and sales. They will only tempt you into buying things you don’t want or need. Now, you can enjoy a clutter-free inbox while you save.
Generic options are so advanced nowadays you’ll barely be able to tell the difference. Instead of buying the more expensive name-brand product, opt for its more affordable generic cousin.
Keep a record of your spending habits. This includes the money you give the car guard. Knowing exactly where your money goes will help you identify how you can manage your spending better and what you can cut. An accurate and updated record will also help you keep track of your financial goals.
Reassess your eating habits. Drink more water – you’ll spend less on other beverages, and you’ll eat less when you go out for a meal. Stop buying takeaways; it might be easier, but it adds up to quite a pretty penny. Practice a meat-free day every week and buy seasonal fruit and veg. Not only will you save money, but you’ll also end the year on a healthier note.
Instead of buying new books or DVDs, visit your local library and DVD rental store. Alternatively, start a book, music, handbag, DVD or anything non-consumable club with your friends and/or neighbours, where you can trade products amongst each other.
Let GetMore help you grow financially in 2017. All GetMore and GetMore Plus members enjoy free financial aid and advice. All you need to do is contact us on 084 11 438 48 or visit us at getmore247.co.za.
This blog is for informational purposes only and should not be used as financial advice.