We are officially waving goodbye to the first half of 2017. The midpoint means that many of us have some catching up to do, once we realise how the months that have flown by… Especially on the financial front.
It is time to give yourself a money check-up, create a mid-year budget, and make some necessary financial adjustments. These changes will mean the difference between soaring or crash landing en route to December.
Now more than ever, you need to take a more active role in understanding and managing your finances. Budgeting is the easiest way to reduce your expenses and increase your savings. But while knowing where you need to save is certainly a good start, how do you go about doing the actual saving?
Here are some ideas to help you at the beginning.
Crunch your debt
The fastest way to save and to free up cash is to kill debt and stop paying interest. This provides more money to put aside for saving or for necessary expenses. The more flexibility you have, the better.
One step at a time
Choose one bill each month, for example your cell phone contract, car insurance or bank charges, and spend some time making sure it is as cost-effective as possible. That bit of research could potentially save you hundreds of rands.
Special offers are there to help you breathe
Many service providers offer 2 for 1 specials at restaurants, cheap movie tickets, discounts at shops or at resorts and spas… the list is endless. Find out from your medical aid or mobile phone service provider what is available to you.
Sweat the old-school way
Walk, jog, run, cycle. It’s enjoyable, good for you, and cheaper than joining the gym. And loads of people are getting into it! Make it a regular family outing or organise a group with friends in your neighbourhood.