17 Tips on how to save your money | Meerkat
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Here are some simple tips to save money daily!

Research the banks to determine which to open an account with       

Look around for which bank offers the best interest rates on your cheque and savings accounts. Some banks offer good rates to new customers. Some of the best deals can be found by just picking up the phone or even researching the bank online for the best deals.

Spend Less time watching TV!

Watching less television can surprisingly help you to save a fair amount of money in more than one way. This can result in less exposure to ads which creates the want to spend money on unnecessary items. Watching less television can also save on the electricity bill and leaves time to focus on more important things such as a your family, a side business or studies.

Sign up for every free customer rewards program

Almost every shop in South Africa offers reward cards to earn points and even get cash back. By using reward cards, you can earn points and get discounts on everyday items which can help you to save money.

Make your own gifts

Making your own gifts for birthdays or the festive season can save a lot of money. Making your own gift also gives it a personal touch and can make anyone feel special for putting in the effort. You can bake something delicious, make soaps and many other kinds of inexpensive things at home.

The 30-day rule

Wait 30 days before deciding on a purchase to avoid instant gratification. After waiting a month, you’ll often find the urge to purchase has gone and you’ve ended up saving money just by waiting. This will also give you a good perspective on what money is worth.

Write a shopping list

Writing a shopping list can help you to avoid making impulse decisions and instead, spend your money on planned purchases. This can also help you stick to your meal plan on top of saving money by avoiding buying the food you don’t need.

Have a Bring and Braai instead of going out to eat

Going out to eat is one way to overspend on your budget. Instead, invite a few friends over to your house and ask each one to bring their own meat to braai in true South African style. This alternative is much cheaper and can result in a fun filled evening of card playing or even having a drink together over the fire. This is sure to leave everyone happy without breaking the budget.

Avoid Fast foods

Getting fast foods for lunch or dinner can slowly add up and before you know it, halfway through the month you’ve spent your budget. There are better easy cheap replacements that can be made quickly and will save you a lot of money. A good way to save on time is to dedicate one day on the weekend to preparing all your food for the week.

Quit smoking

Smoking is not only an unhealthy habit but an expensive one too. Quitting smoking can add years to your life and save loads of money.  Other alternatives such as electronic cigarettes or anti-smoking products can help you to stop and save money.

Turn off the lights

The electricity cost in South Africa is very high and keeping your lights on adds up to a huge electricity bill at the end of the month. To save money on electricity turn off the lights whenever you leave a room or when you aren’t using them. Another way to save is to turn your geyser off when you don’t need hot water, in the day when you’re at work for example.

Quit using credit cards

If you have multiple credit cards, hide them in a safe place at home so they are not easily accessible. This will ensure that the cards are “out of sight, out of mind”. The best option is to not get a credit card to avoid getting into massive debt. If you have many credit cards and need help getting out of debt we can help.

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Do a price comparison

When you go grocery or item shopping you might be missing out on the best deals by shopping at one shop. Shop around to find the best deals on the groceries and items you need. This can save you a lot of money.

Cancel unused club memberships

Do you have a gym membership or maybe a country club membership that you don’t use? If you don’t use your membership often then it’s a better option to cancel the membership. If you regret it afterwards then you can always renew the membership at a time that you will use it.

Buy second hand items

Shopping at secondhand stores can save you a lot of money and you can get nice items at a fraction of the price. Always check the secondhand stores first before buying a brand-new item because 9/10 the items you’ll find there will be a better option.

Do your holiday shopping after the holidays

Most shops mark up their prices during the holidays for an expected increase in sales. Right after the holidays is when the specials come in and this is the time to do your holiday shopping. Get Christmas presents in January, Easter eggs the day after Easter and Mother’s Day gifts a week after Mother’s Day.

Switch to a cheaper service provider

Often data prices and contract prices vary between service providers. Look around for a service provider with the best deals on phone contracts and data. .

Don’t speed

Driving faster uses more petrol which can increase the amount you spend on petrol every month. Drive slower to save money on petrol. Driving the speed limit can also save you money because you wouldn’t get any traffic fines, this is another way to save big on money.

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