11 real-life money-saving tips

11 real-life money-saving tips to help you weather the coming storm

Mzansi’s been downgraded to junk status and things are going to get worse before they get better, but there are ways of minimising the impact at home.

11 real-life money-saving tips

Our government’s musical chairs match with Treasury has led the country into junk status, damaged the Rand and almost certainly set us on a path to higher inflation and an overall increase in living costs… without the commensurate increase in earnings.

That’s right, we’re all going be paying a little more for what we want, but earn more or less the same, meaning many of us will end up with less once the bills have been paid.

Even so, there are a lot of clever folks out there whose job it is to help lessen the blow, so let’s jump right in with 15 small changes you can make right now, that’ll help you in the long run.

Minimum prescribed benefits

Have a proper look at your medical aid and life insurance plans. You’d be surprised at how many of the things you pay for are actually free. Some plans include a number of free specialist visits per year, certain medication on discount or even for free.

Swot up on these benefits and be sure to take advantage of them.

Actual cash back plans like Discovery’s Woolies and Pick ‘n Pay Vitality discount

Did you know that Discovery gives you actual cash back – real money in the bank, not loyalty points – on healthy food purchased at Woolies and PnP? You can get up to 25% back at either, and shed pounds at the same tie. It’s always nice getting a few hundred Rand back into your bank account towards the end of the month.

Save on medicine by kicking winter off with a flu shot

Corenza is expensive, folks… so are most other medicines. Get your shot, sniff for a few days and save in the long run.

Take advantage of debt-restructuring tools offered by your personal bank

Banks like Nedbank and FNB have calculators you can use to see where you’re wasting and where you can cut down. Take advantage of their expertise.

Buying bulk isn’t always the best way to save, buying smart is

If you’re living alone there’s no point in buying masses of perishable food… and as an addition to that, stop being lazy and buy unprocessed vegetable. Whole butternut, sweet potato and pumpkin last months longer than the prepared stuff.

WMD: waste management dinner

It tastes better than it sounds. Freeze the food you can’t use up or that’s going off. Vegetable soup, pasta sauce and stews are great ways of using up frozen leftovers.

Set up an entertainment budget

Saving money doesn’t mean you don’t get to go out and have fun. Divide your budget into food and entertainment. Make it a weekly spending plan instead of monthly, so you can spoil yourself more often and you work with tangible goal posts.

Electricity’s not getting any cheaper, see where you can cut back

Anything with an element will use a lot of electricity: boiler, kettle, tumble dryer, oven, stove… swap your bulbs for energy saving ones and, if you can, upgrade old appliances with AA or AAA energy rated versions.

Get serious about fees

Sure, the mobile ATM at the corner shop is convenient, but if it wasn’t put there by your bank you’re in for a surprise… that quick R100 will be costing you a lot more than that. Get a printout of all the costs connected to your bank account and change banks, or accounts to suit what you can afford.

A lot of banks offer plans with tonnes of features you’ll hardly ever use, but continue paying for.

Adjust your insurance according to your lifestyle, not the other way around

Did you know that you pay higher insurance premiums based on your age, or that you can restructure your insurance plan to include not only your car, but items stolen from it? Or that your car insurance goes up if it’s a darker vehicle or one with a larger engine?

Not spending your money is only one part of the equation

Start looking for investment plans like Allan Gray’s balanced plan, which allows you to start investing without a large lump sum. Putting a minimum amount away at the beginning or end of every month sounds like a schlep, but trust us, after a few months you don’t even notice that you’re saving.

Seriously, folks, yoou’ve got nothing to lose. Sounds cheesy, but that doesn’tchange the fact that it’s true.

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