Saving a bit more...

Do you want to save (invest) or just spend less?

It's an important question because it's pointless spending less if you don't know why you are doing it.

The universal truth still remains to SAVE (invest) first then spend later.

If you save after spending, as in taking what's left at the end of the month it never works.

If you saved first and budgeted then you don't have anything to spend and have to stick to your own rules.
 
1) I only buy what I save for and even if its a small ticket item, I buy it from my savings.

Its amazing how quickly you stop looking at things you don't need. I've found having the cash at hand allows me to make use of bargains. Bought two Smart TVs for the price of one, got my XBoxOne for R2K discount, buy year passes to places we visit often(water park, nature reserve).

2) Bring food to work. Often it can cost me just as much as buying local but I've got better control over how much I spend.

3) Limit takeaways and set a weekly budget. Stopped it due to health reasons and my bank balance was still happy before pay day. Now we limit it to once a week and then only basic items. Often its Happy Meals for the kids, junior burger for me and then just a coffee. Our limit is R200 a week for the family of 4. Sounds a lot but that includes food not bought for using at home.

4) Buy repeat purchases in bulk and double when on special. Its amazing how half of our shopping trips where to buy repeat items (milk, bread, etc). Buy buying in bulk we reduce the number of trips, always have food in the house and realise how little we really need.

5) Braai less food, not braais less: I love to braai but I now braai what I should be eating for a single meal. I weigh my food for my diet plan (health reasons and weight) and can't eat more than 100g of cooked meat. Amazing how much cheaper my braais have become. I need less wood and braai quicker as well. Still enjoy it just as much.

6) Pay people to do manual work around the house. Sounds silly, but yes, paying a painter R500 will save your a R1000. The guys know what is needed to do the job and often have the basic tools of the trade you need to buy.
 
SauRoNZA said:
Do you want to save (invest) or just spend less?

It's an important question because it's pointless spending less if you don't know why you are doing it.

The universal truth still remains to SAVE (invest) first then spend later.

If you save after spending, as in taking what's left at the end of the month it never works.

If you saved first and budgeted then you don't have anything to spend and have to stick to your own rules.
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+1

Best advice I got this time last year was on this very forum after I was told to go read: The Richest Man in Babylon.

What a life changer and I will make it mandatory for all my kids to read. Fast forward a year latter and I first pay myself each month "Start thy purse to fattening" and have over 1 months salary in my savings account without feeling it.


http://www.enlight8.com/8-lessons-from-the-richest-man-in-babylon/
 
Sound advice all round. However I'm already doing all those things :D
Lift club, no takeways, no fancy car, bank with capitec, gym at home, take lunch ti work . Still I stuggle.
 
JungleBoy said:
Sound advice all round. However I'm already doing all those things :D
Lift club, no takeways, no fancy car, bank with capitec, gym at home, take lunch ti work . Still I stuggle.
Click to expand...

Maybe you should place yourself in a better scenario with more benefits at work/different work?
 
Method said:
Everyone keep on mentioning the Joneses...who the feck are they? :confused:
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https://en.wikipedia.org/wiki/Keeping_up_with_the_Joneses

An alternative explanation is that the Joneses of the saying refer to the wealthy family of Edith Wharton's father, the Joneses. The Jones were a prominent New York family with substantial interests in Chemical Bank as a result of marrying the daughters of the bank's founder, John Mason.[5] The Jones and other rich New Yorkers began to build country villas in the Hudson Valley around Rhinecliff and Rhinebeck, which had belonged to the Livingstons, another prominent New York family to whom the Jones were related. The houses became grander and grander. In 1853 Elizabeth Schermerhorn Jones built a 24-room gothic villa called Wyndcliffe described by Henry Winthrop Sargent in 1859 as being very fine in the style of a Scottish castle, but by Edith Wharton, Elizabeth's niece, as a gloomy monstrosity.[6] The villa reportedly spurred more building, including a house by William B. Astor (married to a Jones cousin), a phenomenon described as "keeping up with the Joneses". The phrase is also associated with another of Edith Wharton's aunts, Mary Mason Jones, who built a large mansion at Fifth Avenue and 57th Street, then undeveloped. Wharton portrays her affectionately in The Age of Innocence as Mrs. Manson Mingott, "calmly waiting for fashion to flow north".
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For me the simplest way upfront is to automate savings and decide on budgets annually.
 
cbrunsdonza said:
6) Pay people to do manual work around the house. Sounds silly, but yes, paying a painter R500 will save your a R1000. The guys know what is needed to do the job and often have the basic tools of the trade you need to buy.
Click to expand...

Can you please elaborate more on this?
 
Sly21C said:
Can you please elaborate more on this?
Click to expand...

Either you fill mess it up or need to buy more tools for the job. When you can just get it done right the first time, using someone else's tools.
 
Well I just upgraded from an iPhone 5S to an iPhone 5S because I can't justify spending crazy money on a phone every month now that I'm paying for it myself.

That's R350-R400 easily saved a month and I doubt I'll ever use more than the R200 airtime included.
 
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