2022 – A financial headache! Here’s how to save.

2022 – A financial headache! Here’s how to save.

Since 2022 started, this year has been a financial nightmare for South Africans. With the fuel constantly increasing, electricity being described as our economic pandemic and food prices insanely shocking, not to mention the effect this has on our personal and professional lives.

Despite these factors, there is always a way to change how we think about money and how we can make the most out of every cent. Check out our tips below and see which one you can implement today.

Tips to help you save in 2022

You’d be surprised to see how much money you can save by cutting back on spending on the things you want that you don’t actually need in your life.

It all starts by making a list of what you spend your money on daily, weekly, and monthly. For example, do you purchase a coffee for R30 each morning? If you work 5 days a week, you probably work 21.67 days a month. (R30 x 21.67 = R650,10) You can multiply that if you have more than one cup of purchased coffee.

Our argument is that coffee, in general, has become an expensive commodity, but no matter your preference, there are cheaper alternatives. Nescafé Gold Espresso 200g ranges roughly between R100 to R150 per bottle, which could make up 24 to 30 cups of coffee. A bit more than a month, at R500 to R550 less.

Like the above example, there are other aspects/activities you can adjust to in your life. It’s obviously dependent on each person’s lifestyle. However, here are a few other tips:

  • Move closer to work: You’ll notice many people moving closer to work. There are various reasons for this, from fuel, distance, loadshedding and the fact that people are just fed up with traffic overall. People choose to spend more on rent rather than paying for fuel and the other accompanying headaches.
  • Move your kids from private to public schools: Many parents have done this within the last year. Private schools in your area may become too expensive, especially when you have more than one child. With proper research and talking to other parents in your neighbourhood, you may find that your local public school is just as prestigious as the private one across the street.
  • Eat from home: Regular takeaways are extremely expensive, even if it looks like a special. You can easily prepare a home-cooked meal for 4 people with R100, whereas you pay on average R100 per person when eating out. Let’s be honest, a restaurant meal is so much more convenient, but cutting down from twice a week to once a week, could save you approx. R4000 annually. Consider cooking one night for 3 to 4 nights at once to relieve you from wondering what to eat each day and the prep that comes with it.
  • Shop second-hand: Fashion lovers, this one is for you! You can still update your wardrobe and save when you consider pre-loved clothing. This market has seen a boom as you can get anything at a fraction of the price compared to fashion stores. Tip: Sell your old items before purchasing new ones.
  • Loyalty cards: Take advantage of loyalty cards and award programmes retailers offer. If the points accumulate throughout the year, you can save and buy something else you’ve had your eye on, such as an air fryer.

Minor tweaks to your lifestyle could easily save you R20 000 to R30 000 per year, which you can invest, use to cover the summer holidays, or pay the deposit on a new car. You owe it to yourself, so why not start today?