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How to be safe and careful with your money

Have you ever gone out with no money in your pocket? Not a nice feeling, is it?  There’s only one thing to do if you do not want to spend the rest of your life worrying about money - save! 
How can I save?
  • No matter how little, bank all your money so that you can get interest. Your money grows (becomes more) with interest.
  • Do research on which bank will give you the best interest rate. Remember to find out about bank charges as well.
  • Do a budget every month. Your budget should show all your income and all your expected expenses.
  • When you go shopping look around for the best price.
  • Always shop with a shopping list and stick to your list.
  • Always work towards a financial goal. This means that you need to know what you want to do with all the money you have saved.
  • Make notes of all the money you spend so that you can see where your money went.
  • If you were forced into debt, pay it off as soon as possible.
  • Start a savings club with a few friends (like a stokvel).
  • Pay cash for everything you want — don’t buy it if you can’t afford it.
  • Spend less than you earn.
  • Don’t borrow money as it teaches you that it is okay to be in debt. It’s not!
  • Don’t go to sales and buy things you don’t need.
  • Just because you have R2 does not mean you must spend it. Save it and get something you really want or need.
  • Stop and think before you buy anything.
  • A sale is not a sale if you still cannot afford it.
  • Window-shopping is fun.
  • Money does not spoil:
  • You can always find a use for it in the future;
  • Don’t spend it just because you can;
  • There might be rainy days when you need money for the unexpected;
  • Approach money decisions in a business-like manner. Money is an emotional issue. Especially when it comes to borrowing and lending to family
  • Buy necessities first and luxuries last.
  • Negotiate prices and ask for discounts (especially when buying cash).
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