Save Money on Household Expenses

According to recent reports by the Central Bank, South African household debt now stands at 75% of disposable income. In order to help you rein in some of this debt, we’ve compiled a list of ten ways you can save money.

Shop around for the cheapest household insurance.

The Internet has made finding cheaper insurance easy and you can compare hundreds of policies in minutes.

Learn to say ‘no’

You probably don’t need that R189 pack of nuts from Woolies, or that pre-packed meal. Sometimes you just need to say no to yourself. And if you have children, get out of the habit of buying them a treat every time you’re at the shops.

Trade down your car

Buy an economic car that doesn’t guzzle petrol so you aren’t spending thousands every month on fuel. You can also find plenty of great quality second-hand vehicles from reputable dealers.

Stop smoking

If you smoke one pack a day, you’re spending roughly R10,950 a year. That’s a holiday overseas.

Take up a money-saving hobby

Hobbies not only open your mind to new experiences but also keep you busy (ie not spending money on expensive lunches at Clifton).

Shop online

Online grocery shopping is getting easier and better all the time. On top of being able to easily compare prices, you will also avoid the temptation of buying impulse purchases that you see in-store.

Sell your clutter

Everyone has stuff they never use. Garden implements, tools, old clothes, paintings. If you don’t need them, sell them to someone else who does. You can sell anything on Gumtree or Ebay.

Clear your credit card debt

One of the golden rules of financial planning is to clear your most expensive debts first, in other words your credit cards.

Avoid those after-work drinks

Saying no to a few drinks after work will not only prevent you wasting money on booze, but can make you healthier as well. It also stops one drink turning into ten.

Book holidays early and do it online

If you book a holiday early, you can benefit from substantial discounts. Additionally, finding your own package holiday online and comparing this with a travel agent could save you some extra money as well.

 

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About BetterLife Home Loans

Since 2003 BetterLife Home Loans has been SA’s No.1 Bond Originator, handling the entire home loan application process on your behalf – free of charge! Our aim is still to source the best interest rate for you by submitting your home loan application to all the major banks. There is no easier way to apply for a Bond or Home Loan in South Africa!

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