Sometimes the hardest thing about saving money is just getting started – this doesn’t have to be as daunting as it sounds.
If there’s one thing everyone should be doing in 2020, it’s spending less and saving more. That’s easier said than done, especially when budgets already seem tight .
Here are some tips for saving money in the coming year.
Make paying yourself first.
Aim to save at least 10% of your earnings before tax.
Pay off credit card debt
Credit card debt can be taxing on your psyche. So halt your credit card spending and focus on paying off debt, one card at a time.
Reduce phone costs
Note how much time you spend on your phone for a few days, tracking the calls you make and the data you use. Then investigate whether you’ve got the best possible package/plan.
Also, consider switching off your phone at certain periods of the day and check for and remove any apps that use data without you even knowing. The savings that result could add up to hundreds of rand.
Review medical aid, insurance and investment policies
You may be able to save thousands of rand a year by contacting PBA Financial Services and allowing us to review your medical aid, insurance and investments, to either negotiate better rates or shop around for better offers.
Get smart with your geyser:
Geysers use an astonishing amount of electricity each month. So, lower the thermostat on your geyser to cut down on costs ‒ though no lower than 60 degrees for health reasons.
Don’t be lazy
Make lunch before you go to work instead of buying it. The cost of making your own lunch is marginal compared to buying lunch from the local sandwich shop each day which can easily set you back R30 or more. You can also be certain of a healthier lunch if you make it yourself. YOU SAVE close to R8 000 a year
In order to succeed, you have to WANT to make changes to start saving money monthly and keep a long term outlook and be patient.
Contact one of our advisors for more information.
Phone: 011 803 9686
Email: vivian@pbafsa.co.za
https://www.pbafsa.co.za/