LIVING WITH LESS
HERE are some helpful ways to REDUCE YOUR EXPENSES and live a simpler and better life
THIS IS THE YEAR OF CUTTING DOWN your COST OF LIVING AND ACCELERATING YOUR SAVINGs.
Some of these tips may take just a few minutes, while others require a bit more effort. Still, they’re all very simple – and anyone can do them. Go through the list and find those that apply to you and implement them from today. When you do, you will find that you’re saving more money than you ever thought possible.
SET GOALS – TRY AND SAVE AT LEAST 30% OF YOUR INCOME.
1
Eat at home
Plan ahead and cook your own meals. Dining out can be a huge drain on your finances.
2
Close your clothing accounts
Pay off and close your clothing accounts and stop buying new clothes. Buy second-hand if you can, which is also more eco-friendly.
3
Reduce your utility bills
Electricity and water have a big impact on your monthly costs. There are many ways to reduce these costs – such as having a short shower instead of a bath and switching off your geyser some of the time.
4
Change your travel habits
Swap your current travel habits for more cost-efficient ones such as walking, using public transport or carpooling. Plan your daily travel to avoid making unnecessary trips. Reduce your spending on fuel and vehicle maintenance.
5
Buy in bulk
Buying in bulk is often cheaper. But only buy the things you would normally buy.
6
Cut out costly habits
For example, have coffee at home instead of your daily R25 cappuccino (this will save you over R5 000 a year).
7
Cut down on drinking alcohol
Going out to drink and having drinks with dinner all add up. Reduce the amount of alcohol you drink and you will see significant savings.
8
Choose quality over quantity
Buy quality items – you may spend more now, but they will last longer.
9
Optimise your TV and internet subscriptions
For example, trade DStv for Netflix and you will save monthly (if you want to watch sports, go to a friend's house). Ask your internet provider if there are any promotional rates and shop around. You could save over 20% on your monthly fees.
10
Do you really need it?
Only buy things that you have planned to buy. Also, wait a few days before bigger purchases – after a while you may no longer want them.
11
Save on your cellphone bill
Rethink your cellphone plan. Are you paying for more than you use?
Shop around. Use WhatsApp
for calls.
12
Switch brands
Use similar products that are cheaper than your usual brands. This also applies for generic medication. You won’t notice a difference, except to your pocket.
13
Compare insurers
Shop around for insurance quotes and optimise your cover. Companies competing for your business will often quote you a lower rate.
14
Research before buying
Compare prices before making bigger purchases such as computers, appliances, cellphones, furniture, etc. You can do this online using websites such as PriceCheck.