Easy money saving tips to help you live financially well

The most difficult thing about saving money is getting started. Once you get started, you will notice that saving money is not rocket science. With proper planning, discipline and prioritisation, anyone can do it. World Saving Day (28 October) is an international awareness initiative – make the most of this day by making use of our easy savings tips:

  • Analyse your spending behaviour: Saving starts with just a few simple changes to your spending behaviour. Look at how you use your money using a mobile app so that you can see where and how you spend your money. Resist the urge to make impulsive purchases, rather take your time to think about it and look around for a better deal.
  • Find ways you can limit your expenses: Save on your fixed monthly expenses like data, vehicle finance and insurance by contacting your service provider to ask if you can get a better/lower rate. Or you can switch to a supplier that can offer you a lower instalment or premium. If you move your vehicle finance to iMasFinance you could save on your monthly car instalment (T&C’s apply).
  • Buy in bulk: Before you buy anything make sure you check the specials or sale items. Some grocery stores have special bulk offers, however in general buying in bulk works out cheaper even when there isn’t a bulk special deal. Work out if you will pay less when buying in bulk and plan your meals so that you make sure you use the fresh fruit and vegetables that you bought in bulk.
  • Save water – saving water is very important as it helps to protect the environment and us from water scarcity. Instead of taking a bath every day, rather take a shower so that you can save water by capturing your shower water in a bucket and using it to water your garden.
  • Save electricity – Saving energy usually reduces living expenses, pollution and the release of  greenhouse gases. Therefore, ensure that you switch off lights and any other appliances that you do not use. Check your water and electricity bill every month so that you can try to cut down as much as you can each month.
  • Clean out your closet and sell what you can – Go through your closets and cupboards and decide which items you need and which item you do not use and sell them so that you can make some money. Make sure that the clothes you want to re-sell are clean and still in good condition. If you are selling a gadget or cell phone just ensure that, it is in good condition and desirable. You can use a reputable platform like Market Place, Gumtree, Junkmail and Cash Crusaders. 
  • Transfer your bonus into your savings account : If you get a bonus or yearly increase, transfer it to your savings account. If you can save and invest your money wisely, it could grow over time
  • Use your IPurchase Card when you shop – we have a credit and debit facility available. Remember that you can earn quarterly cashback when you have a Purchase Card, which means that you will have a little extra to spend each month.

Source: https://www.thebalance.com/save-money-every-day-453945

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