home https://dailyfix.co.za/subscribe/ https://dailyfix.co.za/subscribe-to-ideas/ ideas Click to Subscribe

DAILYFIX

Search
  • All
  • Lifestyle
    • Food & Drink
    • Arts & Entertainment
    • Work & Money
    • Caring & Giving
  • Recipes
    • Banting
    • Breakfast & Brunch
    • Desserts & Baking
    • Main Dishes
    • Pantry
    • Soups & Salads
    • Starters and Sides
    • Vegetarian
  • Style
    • Beauty
    • Fashion
    • Wellness
    • Style Guru
  • Home
    • Décor
    • DIY
    • Fix it with Flair
    • Promotion
  • Garden
    • Garden
    • Pets
  • Travel
    • Destinations
    • Travel News
    • Share your journey
  • Crafts
    • Templates
  • Win
    • Winners
  • Wedding
  • Test House
  • Shop
    • Fairlady Shop
    • Home Shop
    • Ideas Shop
    • Spree Beauty Shop
  • Work & Money

    Budget – And Save

    Drawing up a personal budget will help you tackle debt, control spending and most importantly, build wealth for the year ahead

    16 February 2015

    Managing your budget is the only way to stay clear of debt. Stick to these simple tips, and you’ll start understanding where you can save every month:

    Be Realistic
    Fixed costs are initially fairly inflexible, but if you decrease your variable expenses, in time, you’ll be able to invest more capital into your assets. Don’t try cut fixed expenses significantly; that’s unrealistic. Small savings make a big difference over time.

    Distinguish Between Needs And Wants
    Women tend to confuse these completely. Needs are those items necessary to sustain you. Wants are the things that enhance your life. If you can separate the two, it won’t be long before you can actually spend money on something you want, without feeling guilty.

    Don’t Budget On A Bonus
    People tend to live on credit (such as overdraft and cards) throughout the year, assuming they’ll receive a bonus that will clear that debt. But under current economic conditions, bonuses are a luxury – not a given.

    Revisit Your Budget At The End Of Every Month
    Complete your expenditure for the month too. Keep it simple or you won’t stick to it.

    Make Adjustments To Your Expenses
    You need to be conservative and decrease one expense at a time. For example: Pay off clothing accounts first and cut up the credit cards, next clear additional credit cards – you only need one! Lastly, ask your bank to decrease your available limits to avoid temptation.

    Treat Savings As A Bill
    Install a debit order on your account, as if your savings were an account.

    Reassess The Interest Payable On Your Bond
    Shop around for an interest rate lower than the one you currently have. There might be administration costs linked to this.

    Insurance
    Reassess your insurance costs with your advisor. Increasing security on your property should decrease costs. Old policies are probably more expensive than modern products. Never cancel insurance, but make sure you aren’t paying too much.

    Keep An Organised Kitchen
    Clean out your pantry and store perishable food in sealed bags. Finish food, such as cereals, biscuit and chips, before buying again. You’ll be amazed at how much wastage there is.

    Shop With A List
    Don’t wander down every aisle in the supermarket, only those that stock the goods on your list. It’s a fantastic way to save!

    Shop At The Store That Is Cheapest Overall
    Surveys show you can save 10 to 15% on your groceries monthly. If your bill is R2 500 a month, that’s R250 extra per month to pay off those debts!

    Words: Dailyfix
    Image: Website

    email print

    To have more Dailyfix content delivered directly to your inbox, subscribe to our free newsletters here, or get your Dailyfix by following us on and .

    Email this link to a friend

    • FREE NEWSLETTERS

      Choose from our menu of newsletters to receive the latest from Dailyfix in your inbox:
    • SPREE SPECIALS
      MORE VIDEOS

Other Posts in Work & Money

  • Work & Money

    Perfect PowerPoint

    Untitled-1

    PowerPoint can be a great tool, but it can also make you a laughing stock. Here’s how to use it effectively

  • Work & Money

    Phrase Out

    language

    Six expressions that should be banned from the office

  • Work & Money

    Keep An Open Mind

    open-mind

    Practise seeing life from other perspectives to keep your mind agile, your creativity brewing and your people skills on form

Other Posts in Lifestyle

  • Arts & Entertainment

    Insurgent

    The second instalment of the ‘Divergent’ series is set to release worldwide today

  • Food & Drink

    It’s 5 O’Clock Somewhere: Pom-Berry Margarita

    Add a red twist to your drinks menu with this frozen treat

  • Food & Drink

    Meet The Private Chef

    Neill-Anthony

    There’s a new South African cooking show that will keep you going back to the kitchen

More Posts on DAILYFIX

  • Desserts & Baking

    Coconut And Granadilla Ice Cream

    This tropical favourite is the perfect refreshment on a sweltering day

  • Main Dishes

    Chicken In A Crunchy Mustard Coating

    Serve with mashed potatoes and vegetables – and you’re good to go

  • Win

    Win With Issey Miyake

    Today only one lucky reader stands a chance of winning an Issey Miyake Pleats Please In Bloom

Shop with DAILYFIX

  • Fairlady Shop

    Court Shoes

    Lace court heels.jpg

    Lace court shoes black, Daniella Michelle ( R749)

  • Fairlady Shop

    Maxi Cardigan

    Maxi cardigan.jpg

    Maxi cardigan mid pink, Next (R754)

  • Fairlady Shop

    Kaftan Blouse

    Kaftan blouse.jpg

    Kaftan blouse multi-colour, Next (R535)

  • Newsletters
  • Advertise
  • Terms & Conditions
  • DAILYFIX

    Dailyfix copyright Media24.
    Dailyfix is the new online home of Fairlady, Home and Ideas magazines.
    Read more about us here.
    Made by OnNet.
    Sitemap