Time are tough and pockets are tight in Mzansi’s economy making it difficult for the country’s middle to low income earners to survive.
From the price of bread to the recently sky rocketed price of eggs, some of us will still have to tighten our belts and cut on a few things in order to survive.
South African insurance company 1Life shares a few tips on changes you may implement in order to minimise the strain of a rising economy on a stagnant salary. Below are three ideas to try shared by the insurance company.
Downsize your home
The thought of downsizing your home might not be a pleasant one, but it may sometimes be the only solution (depending on your situation of course). Before starting the whole downgrading process, you will need to do your research as you want to make sure that all your sums add up, shares the insurance company.
Cut on expenses
Make sure you refrain from buying things you do not need and try downgrade the ones you possible possibly can add the financial expects. Items to downgrade may include but not limited to, your car, house and some insurances.
Go into Debt Review
Going into debt review may provide you with a breather and help ease up the stress of your pilling bills. This process will allow you to re-pay your monthly instalments on a lesser re-payment instalment by extending your repayment time to a longer period, shares the insurance company.
Also see:Ways to freeze and thaw bread
