The best financial & savings tips from our readers

If there’s one thing a lot of us want more of, is to be able to save more money and have sufficient money when we need it – whether it’s for your child’s party or an unexpected car repair, or even retirement. Or maybe it’s about having enough to treat yourself to a beautiful pair of shoes for the new season. We sourced great financial advice from women who’ve been there and done that – our readers. We asked for your best savings and financial tips, and you answered.

Here are some of our readers’ top tips:

It takes a bit of admin, and my hubby thinks I’m a little obsessive, but I keep track of all my expenses – whether it’s a takeaway coffee or parking or groceries. This helps me see how much I spend, and gives me information on where I can reduce. This knowledge helps me free up some funds, which I can put into an emergency or savings account. (Susan McCartney)

My best advice is to always check your bank statement! Not only can you see if any unauthorised or unknown payments come off, but you can also see if there’s anything you can cut, such as a gym membership that you might not use. This “extra” money can be used to pay off any debts (such as your credit card), or put into savings. (Letshego Mthembu)

Only buy things that are on sale, but you must really ask yourself if you need them or want them. I buy my kids’ clothes on sale for the following year, and I save hundreds of Rands. Look for after-season sales, and stock up for the next season. (Nthabi Baloyi)

Put anything extra you have, such as bonuses or tax refunds into an interest-bearing account. You probably don’t need it for day-to-day expenses, and it’s best you put it away. If you feel you still want to use something from that for yourself, then buy one thing, but try not to use more than 10% of that amount. (Anusha Naicker)

I have a little gifts cupboard at home that I stock up with presents to be given at a later stage. These include great items that I’ve bought on sale, whether it’s toiletries at The Body Shop, chocolates on special from Clicks, or children’s clothing or books. (Tonya Fleishman)

“I always ask myself if something is a need or a want. This way, I’m guided into making better purchases.”

I used to use tens of Rands a month by going to another bank’s ATM, and incurring their costs. I used to get lazy, and didn’t feel like walking to my bank’s ATM, and it ended up costing me! (Mary Ndlovu)

Meal planning! By planning meals for the week, writing them down, and shopping accordingly, you’re not only organised for the week, but you don’t need to buy extra for the week – only what you’ve budgeted for. (Sashi Padayachi)

I love using all my rewards and cash-back vouchers. They might seem small, but when you add the hundreds you save every few months, it adds up to a few thousand by the end of the year. My favourites are Clicks and Dis-Chem. (Sara de Jager)

Set a budget, and do it each month. Look at your fixed and variable expenses, and you’ll get a good indication of what you need to start cutting out, and how much you can allocate to savings. (Joanna Bothma)

I always ask myself if something is a need or a want. This way, I’m guided into making better purchases. For example, my child needs school shoes that fit, but I don’t need another pair of boots! (A’isha Baddour)

Once I learnt how much interest my credit card debt was accruing, I immediately tried to reduce and then get rid of that debt. Have a look at your statement, and you might get a fright – enough to stop buying on credit, and working towards clearing the debt. (Sanette Swanepoel)

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