Cape Town – After a long break we often have two reminders of our holidays: our fading tan and debts.
This is when a bank statement can make one sick to the stomach. The mountain that needs to be climbed can seem daunting, but remember a journey always starts with a first step. Here are a few tips to help any South African get their wobbly start to the year back on track.
Claim rewards
Most South Africans are linked to reward programmes. Whether it is a shopping discount or banking rewards, such as eBucks, this is the time of year to claim them all. Often we forget we’re accumulating these rewards, now is the time to look them up and use them.
Review your contracts
In order to save you need to review all of your expenses and be ruthless. A month without paid TV has never killed anyone, only encouraged one to read more. Check your cellphone contract to see where you can reduce costs on data or calls. Review insurance premiums to see if you can save in this area as well. Cutting costs now will get you ahead in the coming year.
Switch off
Even though we’ve been told many times already to save electricity, it’s a message worth repeating. When you’re at work there’s no need to have the geyser on at home. Long relaxing baths can be scheduled for later on in the year. Remember when saving on resources, getting into a routine will help.
Pre-pack to save
Follow your mother’s example on this one and pack your lunch. You’ll be surprised how quickly a few store-bought sandwiches will affect your pocket. Once again, get into a routine. Make larger suppers so you can save some leftovers for lunch the next day. Being prepared to save can sometimes be delicious.
Entertain at home
Going out this time of year should really be the last thing on your mind. It’s important to remember that going out is expensive. Rather invite your friends over for a casual supper where everyone brings a course. Every cent you save now will be an extra cent you can invest in the future.
Carry cash
A reason why December is always an expensive month is because we get carried away in the moment. This problem is now compounded by the fact that spending money using your card is easy. For this month leave the card at home and draw the exact cash amount needed for the day. Using cash creates an awareness of how much you’re spending and, in turn, allows you to save.
DIY
Often small jobs around your home are contracted out. This is a new year so there is no better time to learn a new skill and do it yourself. The internet is filled with How-to-Guides on nearly everything. Take advantage of this and gain a new skill in a new year.
Start swopping
We live in a material world where spending is encouraged. Go against the grain this year and start swopping items with friends. Take a look through your cupboards and see what you have excess of, find a friend who needs it, and exchange it for something you were planning on buying. By using all your of resources, which we often forget isn’t just money, we can save. It is also a lot of fun and sometimes can be turned into an event.
Set limits
Your willpower will surprise you when you set goals for yourself. Set yourself a daily budget limit, with a small cushion financially at the end of the month. Keep to this limit now so that later on in the year you’ll be able to indulge in your earned financial freedom.
Stop bad habits
Addictive behaviour is costly behaviour. Set your mind to quitting these expensive habits, such as smoking, and you’ll save loads. Not only is it healthier to stop these, but it will also improve your bank balance.
* Godfrey Madanhire is a professional motivational speaker, who strongly believes in helping other people significantly change their lives. Godfrey has helped individuals grow, families unite and organisations prosper through his seminars, workshops and presentations.
IOL