Saving is a trait you learn when you are still young. It’s not easy. Especially if you are a big spender like myself. There was a point in my life where I’d spend every little cent I’d get, my reason would be we don’t know what tomorrow holds. Also tomorrow is not guaranteed. Dumb I know, now I’m paying for all the bad money decisions I’ve made.
Saving can start from as little as ZAR 1 everyday, every week. You have to start small in order to make it a habit. Never start with unrealistic amounts that you know you’ll never attain to, that you know that you won’t keep at. You have to be strict with yourself. Cutting down on all the unnecessary spending like junk food, alcohol every weekend, weekly airtime and data. Rather use the money on buying yourself something that you’ll thank yourself for, something you can point at in a month or even a year. Something of a value.
The truth is we are no longer young and we can’t afford not to be responsible where money is involved. We have to prepare ourselves for our future. We have to save enough to put up a deposit for our first car, an apartment, that sneaker you’ve been eyeing, that make up kit you are dying to have, your dream holiday.
It’s good to save because you prepare yourself for the future. You prepare yourself against those unexpected emergencies that come your way when you least expect them. You know those that happen when you hardly surviving on your monthly allowance.
Money saving tips:
- Put up all your brown coins in a container
- Join a stockvel. It’s easier to save as a group than on your own
- Have a 32 days notice and make sure the debit order goes through the same day you get your allowance
- Learn to lay by things instead of buying cash. This forces you to learn to prioritize with your money
- Pay your bills on time before they accumulate interest
- Avoid buying cheap, to avoid buying more than once
- DON’T. I repeat don’t use cellphone banking, it’s a trap. It throws most of us off our budget
- Draw up a budget
- Choose something to save for (a book, vacation, shoes)
- Record your expenses
The benefits of saving are endless. Start now and you will thank yourself in the mere future