6 practical money tips for getting through January


24 days ago

After overindulging in December, it’s no wonder that January has a reputation for feeling like the longest month of the year.

Many of us are still recovering from the braai’s and Christmas trifle all while doing mental maths with what’s left in our bank accounts.

Below are six practical ways to stretch your coin until your next payday.

TIP #1: Bulk shop with a friend or family members

With a little strategizing, you can save on your food and toiletry shopping bill by bulk-shopping with a friend or family member.

Think wholesale stores or 2-for-1 specials at your local health and beauty retailer.

TIP #2: Use up everything in your kitchen

Challenge yourself to stay away from the shops and using up everything in your fridge, freezer and food cupboard - even if it’s just for a few days.

Get creative by Googling the ingredients you have to make something new. Who knows, you might discover a new favourite meal!

TIP #3: Sell unwanted items online

A new year deserves a fresh new start. For some extra cash and a decluttered space, comb through every nook and cranny in your home and place your pre-loved items up for sale online on Gumtree, Facebook Marketplace or other relevant online vendor sites.

TIP #4: Shop specials and check loyalty programs

Before you head out to the store, make a list of the items you need and then put in the time to research if any retailers have a special.

Look out for bulk specials (See TIP #1) and check if you can get a further discount by redeeming your loyalty points.

TIP #5: Use saved money to ease a future payment

Do something that your future self will thank you for.

If you’ve managed to save some rands, instead of spending right away, put all or a portion towards a monthly bill - like a credit card or your home loan.

TIP #6: Draw up your 2021 budget

It may be scary and intimidating (or even boring!) but it’s the only way you’ll get a better handle on your finances.

Do a self-audit and be honest with what’s coming into your account and what’s going out. Then do some research on a budget plan that will work for you.

Image Credit: Pixabay.com

This article first appeared on KFM : 6 practical money tips for getting through January

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