Take care of your wallet – easy as pie!
Summer is here and while this is great as we enjoy the outdoors; it might also be the perfect opportunity to make sure your finances are in good shape.
“There is nothing wrong with being more festive between the Spring and Christmas period; just be mindful about your spending patterns and behaviour as this can add undue financial pressure on your finances,” says Este Ochse, Product Specialist, FNB Wealth and Investments.
According to the 2Q18 GDP numbers, South Africa is in a technical recession. And being trapped in a dreadful debt cycle will cause you financial strain, so ensure that your budgets are continually refreshed and updated. “This is important as it will help you be more organised and disciplined with your finances,” adds Ochse.
But what to do?
Here are a few areas where you can cut costs and save more this Spring:
Picnics vs eating at a restaurant
There is nothing wrong with eating out, but balance this by preparing your own picnic so you can enjoy this time with friends and family without straining your budget.
Movies vs DVDs
Movie night is great, but the costs will gradually add up. From popcorn to the odd beverage, chocolate and movie tickets you could spend well over R150 per person. Rather rent a movie and enjoy in the comfort of your home and with your loved ones.
Cooking vs takeaways
Try your hand at cooking a healthy meal with your family or get the family involved in making dinner. There are many simple recipes online that can take you through the process.
Shopping for new summer wardrobe vs recycling
We tend to be adventurous when it comes to fashion and keeping up with the trends. Recycle what you have and instead of buying clothes for every new season, save that extra cash for a short-term goal like a special birthday treats or a long-term goal like retirement or education.
Gym vs DIY health remedies
You can never cut costs with your health, so ensure that your gym contract suits your lifestyle to the best. Alternatively, if you are not the gym type, look out for workout apps that gives you the ability to train at home.