15 no fuss ways to save money

TODAY we take a look at some simple yet effective ways to cut down on your monthly spending. As an added bonus, we have included a printable monthly budget template from Money and Legal Matters to keep you on track.

1 Shop the sales

Buy your summer wardrobe at the beginning of winter, and your winter wardrobe at the beginning of summer. This way you can save up to 50% on your purchases.

2 Buy bulk with a friend

Cash and carry shopping is an effective and simple way to cut down on your monthly grocery bills, while butcheries often have special package deals on bulk meat packs. If you have a smaller family, share the cost with a friend and split the shopping.

3 Quit smoking

In South Africa, the average box of cigarettes costs around R34.00. If you’re smoking a box a day, this cost quickly adds up to over R1 000.00 monthly. Think what that could be doing to your credit card debt.

 

4 Go with the (lower) flow

Cut your annual water costs down by saving water and installing low flow showerheads and taps.

5 Unplug your electronics

Save on your electricity bill by ensuring you don’t leave computers, cell phones, chargers and other small electronics on charge. This continually uses power. Unplug them when they are charged, and not in use.

 

6 Make your own gifts

Bake a batch of rusks, make candles (fill an old teacup with coloured wax, for instance), or offer gifts vouchers to your friends: A night of babysitting? These thoughtful gifts are often more valued than shop-bought ones.

 

7 Write a list before you go to the shop – and stick to it!

If you plan ahead, you will avoid making spur of the moment buys that end up costing a lot of money over the course of a month. Take cash with you and stick to your list as well as your budget.

8 H20 is the way to go

Drinking water is not only the healthiest option, but can save you money. Replace fizzy drinks and expensive beverages with water and you will not only feel lighter in body, but in wallet too.

 

9 Take your credit card out of your wallet

Lead yourself not into temptation by leaving your credit card at home for emergency use only. It’s also a really good idea to delete your credit card details from online stores. This will prevent impulse online buys.

10 Envelope budgeting

If you struggle to budget correctly, why not consider envelope budgeting? Using cash, place the allocated amount into an envelope marked – for instance – petrol. Use envelopes for things like entertainment, bread and milk, or toll fees.

11 Eat at home

Make simple, healthy meals at home rather than eating out. A typical ‘family meal’ at a South African take-away restaurant costs around R180. Times this by two a week and it all adds up to a large extra bill at the end of the month.

 

12 Buy used

We all know that new cars are not sound investments. When vehicle shopping, look for a good deal on a used model, and try to find one that is still within the service plan.

13 Slow down

Speeding on the roads leads to increased vehicle maintenance and fuel consumption. Those speeding fines are expensive too…

 

14 Eat less meat

As a family, set aside two or three nights each week labeled ‘meat free’. Without becoming a fully-fledged ‘veggie’ you can still cut down on the bills by reducing the amount of meat you eat as a family.

15 Coffee on the go?

It’s easy to grab a take-away coffee while you’re on the go, but consider the cost.

On average, a cup of coffee costs anything from R10.00 to R18.00. If you buy one a day, that adds up to around R300 per month.  Delicious coffee sachets work out to around R4.00 each – so throw them into a travel mug and count your savings.

 

For your printable, monthly Income vs Expense Budget, click on the link Monthly Budget document

Read more on managing debt HERE 

Contact the CEO of Money and Legal Matters, Anba ‘Paddy’ Padayachee at Mlm1@telkomsa.co.za