As the fuel prices keep fluctuating, (sadly upwards) and affecting food costs, here is a general recap on how to stay on top of your debt and get fuel-price savvy through these tough times:
Fasten those seatbelts and start budgeting!
First things first, South Africans need to learn to budget better and not take out any form of debt that cannot be easily paid back. By missing loan repayments, you negatively affect your credit score and also get penalised by high fees and charges. A decreasing credit score will also affect your chances of taking out more credit in the future and could even affect your employment opportunities.
To help balance the increase in transport costs, try finding ways to save money when it comes to transport options. Instead of driving to work and back by yourself every day, try catch a lift with someone in the office. This way, you can split the petrol cost. Also look at using public transport if and when possible.
Take it slow
Slowing down slightly can drastically change the amount of fuel you use.
According to the AA, even just dropping around 15km per hour in speed, could save you up to 10-25% in fuel costs.
Top 10 fuel-saving hacks
- Fill up when it’s half tank rather than quarter tank.
- Change to highest gear rather than driving in lowest gear.
- Service your car regularly.
- Don’t over rev your car.
- Try not to use the aircon.
- Make sure your tyres are always at the maximum pressure allowed
- Anticipating the actions of other drivers and potential hazards. The less braking and acceleration, the less fuel used.
- Reduce weight. Don’t drive around with unnecessary items in your boot.
- Drive a manual. According to AA a manual uses 10% – 15% less fuel than an automatic.
- Speed bumps. Braking hard, accelerating, then braking for the next speed bump is inefficient and uses extra fuel.
Re-Check your debt
Still finding yourself struggling to budget through the fuel and food hikes? Why not consult with a debt counsellor and get on top of your debt today. Contact the professionals at Meerkat and start your journey to a debt free life.