The entire world has started to hold its breath, waiting to catch a glimpse of the new financial picture rendered by the consequences of the Russia-Ukraine War. The effects in South Africa are speculated to include every level of our livelihoods, from petrol to electricity. Luxuries are something which, if you want to be prepared and survive, will have to be cut down by at least 50 percent, if not removed completely.
You can survive whatever comes to you, if you follow the guidelines below. These budget tips are not only to allow you to survive the coming price hikes, but they are also excellent habits to begin forming if you want to work better with your money and thrive financially.
Understanding that Every Cent that You Save Combats the Rising Prices
The important part of saving is to understand that every cent saved makes a difference in the long run. The more frequently you change your lifestyle with small savings the bigger the saving is over time. We want to see the change immediately, and saving does not always work like that. In some households there is not that much money to work with, or there are far too many debts to concentrate on to be able to put away a significant enough portion of money to see it grow immediately.
When you understand that even a small saving, a baby step, is a step in the right direction. Once you start saving, working on your budget and being more money conscious, you will begin enjoying seeing how your life is empowered financially.
Read the Newspaper Inserts
We always think of old grannies or grandpa’s who walk through the isles at Checkers with their newspaper insert, looking for the items they circled in red pen at home. It’s not only for them, its for everyone. Walking with your newspaper adverts doing your groceries makes you intelligent. It shows people that you are money conscious. Planning your shopping beforehand and sticking to that plan, no matter what, gets you into the habit of exercising your willpower over temptations.
Begin a Veggie Garden
Let’s say you do not have a big garden, or the time. There are excellent ideas on Pinterest for windowsill herb growers, and growing tomatoes in a large pot in a sunny room, keeps the bugs at bay, and you have a good supply when you need it.
If you are fortunate enough to have a garden area, growing a veggie garden is one of the best things you can do for your pocket as well as your mental health. We found this great video to help you understand what is needed to get started on a veggie garden indoors.
Cash-in on Loyalty Cards
Loyalty cards make a small difference which adds up over time. Almost every grocery store has one, and if you want to know more about what they do and how much you are saving when using them, make sure to check out this article from Food24. It is important to have one and carry it in your purse. It may even happen that people ask to make use of the savings by using your loyalty card, which means extra savings for you in the long run too.
Learn from Loadshedding
We are always complaining about loadshedding in South Africa, but on the positive side, it has made us extremely creative in finding alternative ways to live life. Use some of these ways, like braaiing over the fire on a weekend instead of using the stove. Or using candlelight when having a bath instead of the lights. Remember, every little bit counts.
Do Not Use Debt
There is good and bad debt. When we use debt to balance the household, we are throwing ourselves into the start of a very dark tunnel. It is important to always take the monthly budget seriously and realize that not caring about the consequences for even a moment will damage your financial health. It is never wise to use debt to cover debt either. It would be wiser to make a responsible decision and understand that you need to cut back or that you need assistance in bringing those debt payments down.
If you do need assistance, remember that you can give one of our registered Debt Counsellors a call now and see where we can help you to survive better.
Start a LiveChat with one of our Debt Counsellors now.
During business hours, there is always a registered debt counsellor available to listen to your needs and see where we can be of service. We also do not believe in bots!