People have been struggling to make bank for centuries, but with these clever tricks you’ll be able to save some money for those rainy days or that trip you’ve been dying to take to Pari(y)s.
Host a ‘bring and braai’
There’s no need to skip out of social gatherings just because you live on a budget. South Africans love their braai’s, so host a bring and braai. Every guest brings their own food and drinks. This way you can party with your friends and still save some money. If you’re not to keen on having a braai, host a potluck party where guests contributes a dish to be shared. Win-win.
Look out for discounts
In South Africa, banks have loads of saving models – such as discounts at certain places including a range of stores and petrol stations. Also keep a look out for early bird ticket sales if you want to see a show (for entertainment purposes, obviously) or sign up for newsletters to see when there’s a special on something or when shows are free of charge.
Keep it interesting
How about rolling up your sleeves and doing it yourself? I’m talking about DIY projects or do-it-yourself projects. There’s so many DIY ideas and projects on the internet these days, you can definitely save some money by not calling a professional to do it, but by doing it yourself!
Keep a change jar
By keeping all of your change (which I know you hate to carry around!) and throwing it into a jar, you’ll be saving some extra cash at the end of every month. Enough to pay for those early morning coffee’s at the coffee shop! Hoora!
Make the most of cashback
You can get cashback for just about everything now. “Whether you’re taking out contents insurance or buying a new outfit, see if you can get a little something back. Then you can save these funds for a rainy day (or an especially skint month),” Ms Maundrell said.
Think about how you travel
If you live in a city, buy a monthly or annual season ticket and use it (if possible, take out an interest-free season ticket loan from your employer). And if you’re in London, the introduction of the night tube means you should be able to get almost anywhere without having to pay out for a cab home.
Make your savings work harder for you
If you’ve got some savings, make sure you’re making the most of them. Ms Maundrell recommended to put them in an account paying at least 1.2 per cent interest to make sure they grow at the same rate as inflation. “If you don’t they are literally decreasing in value,” she said.
Cut down your fun fund
This could be everything from nights out to early morning coffees. “The habit of spending a couple of quid on a fresh juice every day may seem reasonable to you, but realising how much you’re spending and putting a limit on it can help you save loads every month,” Ms Maundrell said.