To avoid the pitfalls of debt and credit shortfalls in 2019 South Africans should learn to manage their finances in a playful and manageable manner by getting to grips with”budget bingo”.

Pick the financial tips for the list below that apply at the appropriate moment; and before you know it, bingo – you’ll have more cash in hand, he says.

Some budget bingo savings tips:

  • Stick to a shopping list;
  • Avoid shopping malls where you might be tempted to spend money;
  • Invest your Christmas bonus or use it for big upcoming expenses in January;
  • Join a stokvel or savings club;
  • Start a high interest-earning savings account early in the New Year for Christmas 2019;
  • Buy in bulk or shop online to find the best bargains;
  • Draw up a budget and keep track of your spending;
  • Cut back on extras when you can;
  • Leave your credit card at home when you go shopping – draw limited cash instead;
  • Give your time instead of gifts, for instance, give someone a night of free babysitting;
  • Invest in experiences rather than things: buy family tickets to a show instead of buying things;
  • Sell things on Gumtree or the Facebook Marketplace for extra funds.

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