Saving money can be such a drag especially when you are out there chasing a soft life and living your best life. People often think that you got to have a hefty pocket if you have money to save. Some even go as far as saying “life is too short, YOLO (you only live once)” or, “who are you saving for ” hence young people have adapted to the saying, “ek sal more sien”, meaning I’ll see tomorrow.
Some people go as far as saying that they don’t like talking about money or discussing it with anyone. Just as Rome wasn’t built in one day so is teaching yourself or taking steps into saving your coins. If you are someone who normally budgets, you can perhaps take 10% of your spending money and save it by asking your banker the easiest way of doing it. In Layman’s terms, you can save two slices of bread in every loaf of bread that you purchase and keep them in the deep freezer to eat later in the week.
It’s never early nor late to start saving towards that car deposit money, house you have been dreaming about, holiday vacation and just a stash for emergencies.
It seems easy enough right? Here are some tips that will help you to start saving.
- Visual Commitment – Take that empty 5 litre water bottle and start putting in R5 or 50c coins and bank it in 12 months.
- Stash account – local banks have many money saving options but debit orders are the best way to do it and it can be any amount you can afford from only R50.00 going up.
- Be ahead – Check your monthly statement frequently to stay up to date with your spending and see where you can cut on your frivolous spending.
- Impulsive spending – Before buying anything always do it the day after seeing it, so that you can think about whether the item is a necessity.
- Seek financial assistance – Seeking help doesn’t mean you have too much money or you don’t know how to use it, it just shows how responsible you are.
Invest in yourself! Start by creating a budget and sticking to it, saving for your future investments, and constantly educating yourself on personal finance. It’s never too late to take control of your money. #financialadvice
— Eduardo Mannarino (@EduardoManni) December 3, 2022
Also see: Making budgeting fun and easy
