Life is hard and the world of finances is harder. From budgeting to saving and even debt, one can feel overwhelmed extremely fast. With 2021 having its own set of challenges through lockdown restrictions and the struggling economy, you don’t need more stress by trying to work out how to save money or even how to save money monthly! This is why we put together some easy to follow savings tips to help you save money in 2021.
3 Tips to Save Money Every Month
Shopping is one of those tasks we just do and get over with. However, if we have learned anything from our elder family members, it is that shopping is a science. We all have that grandma or aunty who manages to buy in bulk, stock up and save. They always know the latest deals and specials, they also know how to use them.
Now while this may seem like fun, the potential cost savings are enormous. Learn how to shop and take advantage of specials to get the best bang for your buck. Find that person, shop with them, take notes and you will see the savings!
Have a Budget!
Many of us ride our finances by the seat of our pants. We judge our affordability on how much money is still in our bank accounts and scrap the peanut butter jar when we get to the 18th of the month.
While this may seem like an easy way to live it can often lead to undue stress that can be alleviated by having a budget and keeping track of your finances.
Whether you go old school with a budget diary, a new day with an app like 22 Seven or use an Excel spreadsheet; having a budget is the important part!
If you are asking yourself how to save money fast? Then you need to check your budget!
Talk to an Professional Financial Advisor/ Planner
We often avoid professionals in the financial industry. Maybe because finances are very personal. However, a professional and licensed advisor can offer valuable insights into our finances. They can help you will insurance, debt, investments and more, depending on their expertise and abilities. By ensuring you are covered correctly with the right insurance, you can ensure that you are adequately covered with the right cover you could potentially save money every single month!
An advisor/ planner can also assist you in choosing the right investments to suit your risk profile putting your hard-earned savings in the right place.
Many people want to know how they can save money monthly in South Africa. The truth is is take discipline and planning. If you have a budget, shop well and work with a professional advisor; you can save money every single month. Putting these funds towards your savings goals, retirement or just growing your wealth! Start saving today!