Be your own Pravin and cordon off money blues

Become your own finance minister with these 6 easy steps to saving money

With Finance Minister Pravin Gordhan’s budget speech looming this afternoon, why don’t you take your financial situation into your own hands?

By saving up money and adhering to your budget you ensure that when everything hits the fan, you have a finance plan to fall back on.

Follow these six easy steps and you’re guaranteed be your own finance minister when times are financially tight:

Start recording your expenses. By taking down all your expenses, you make sure of the fact that you have a breadcrumb trail to follow when you suddenly feel like you’ve suddenly lost money but you don’t know where it went.

Formulate a monthly budget plan for yourself. Once you’ve kept track of at least a month’s worth of expenses, setting up a budget for the next month will be a piece of cake. By setting up a budget, you know exactly what you need and don’t need to spend your money on, and also make sure you don’t overspend that month.

Prioritise what you’re saving for. Whether you’re planning on buying a house, making a down-payment on a car, or simply REALLY want that Louis Vuitton purse, prioritise the reason and you’ll be able to reach your goal.

Set a grocery list for shopping. When you’re going out for the monthly/weekly groceries go shopping with a list that you strictly adhere to. No matter how tempting those Ferrero Rochers look, or how loud your child is screaming for a Kinder Joy egg, stick to your list and you’ll see lots of money being saved.

Go shopping on a full stomach. Another handy grocery shopping tip would be to shop on a full stomach. This way, you spend less money on those small, slightly overpriced (never mind unhealthy) snacks in every supermarket/grocery store.

Keep your small change. The age-old trick of keeping your small change in a jar or tin or whatever you deem fit is probably still one of the most effective ways to save money. So keep those ghastly 10 cent coins and who knows, maybe one day you’ll afford a tub of Wakaberry.

So, enjoy Pravin Gordhan’s budget speech at 14:00 this afternoon and then take your financial situation into your own hands with the six easy steps above.

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