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.
Article credit https://www.fin24.com/Money/Investments/budget-bingo-12-quick-savings-tips-to-kick-off-the-new-year-20190102