Saving a bit more...

1: Switched to Prepaid. Sold S4, used money towards new S5 with 2yrs ADH and worry free usage. Saving R800\month which goes into access bond every month.
2: Took every cent and settled wife's car = R3200 into access bond every month
3: Used part of 13th cheque to pay kid 1's annual school fee's and score 1 month free = R1800 saving per month into access bond

Next: wife will kill off her R500 VC contract and switch to prepaid.....

We also braai early in the week (cost = R40 for 2 bags of thornwood) and cook R2-300 worth of meat. Being banters, this gives us meat for brunch and dinner for the working week compared to the R500 a week I spent on take aways just for myself before.
 
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saor said:
1.) Stop trying to keep up with the Jones's
2.) Don't get sucked into believing you need a more expensive car the more you earn.
3.) Cook your own food.
4.) Exercise & keep healthy .
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+1

Loving this thread
 
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FlashSA said:
1:

We also braai early in the week (cost = R40 for 2 bags of thornwood) and cook R2-300 worth of meant. Being banters, this gives us meat for brunch and dinner for the working week compared to the R500 a week I spent on take aways just for myself before.
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+1 we also do banting so it works out. meals for 3 days on that cost.

I agree with prepaid, never had a contract. I don't need the latest phone so if I needed one just bought on CC and paid it off. My car is paid off, the last thing I need to do is my credit card which will be done after the next payday. Then I'll be debt free with exception of my homeloan.

I've also made a point to delete my saved Cards on my online shopping profiles because I remember my CVC. To be fair I was shopping a lot when I moved out...
 
Reading this from my R500 android smartphone. Le joys.
 
Things that work for me :

1) Look when the fuel price goes up, fill up just before the 1st Wednesday of the new month
2) Shop around for insurance
3) Buy things you use a lot in bulk
4) If you have ADT, every 3 years renew the contract and you will pay 3 years starting premiums.
5) Look at how rewards systems work (eBucks as an example)
6) If your investment isn't working, cash them in and make sure your money works for you at the end of the day
 
zerocool2009 said:
Things that work for me :

1) Look when the fuel price goes up, fill up just before the 1st Wednesday of the new month
2) Shop around for insurance
3) Buy things you use a lot in bulk
4) If you have ADT, every 3 years renew the contract and you will pay 3 years starting premiums.
5) Look at how rewards systems work (eBucks as an example)
6) If your investment isn't working, cash them in and make sure your money works for you at the end of the day
Click to expand...

what do you buy in bulk?
 
Focus on the big wins before locking down your COL, especially nb for newly employed professionals.

Don't get the most expensive bond you can afford, or rent the s****iest flat in the poshest neighbourhood your salary allows.

Don't buy your first car *new* unless you plan on driving that baby into the ground. This fallacy of needing a new car every three to five years is the most ridiculous thing Saffer middle class buy into.

Minimise subscriptions/debit orders to the things you *need* so that you keep most costs variable and under your control while you're still figuring out finances. Medical aid, life and disability insurance, investments. Most other things should require you to actively click 'pay' so that you feel the burn for that crucial first year and it forces you find ways to optimise.

Then, automate.

I also nixed the "entertainment budget" because I found myself justifying spending that money just because it was budgeted. Instead, I've diverted that money to boosting savings for certain short and medium term goals, with the proviso that if I really want to buy/do something instead of save it that month then it's money well-spent.

The rest of those little things (minimising bank charges or airtime/data purchaces etc) are always up for revision, but since I've optimised the big wins that save me thousands a month I don't stress about saving another R10 here and there. I still try to, but that's because I'm naturally frugal and so it's fun.
 
Keep an eye on expense claims.

Forgetting to do one them can be really expensive
 
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whatwhat said:
Work harder and get paid more.

Never settle for what you currently have.
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I'm beginning to think that that's one of the biggest problems in the world today. People working harder sacrificing their limited time on this planet so they can buy useless crap only to throw it away.

There are some great tips in this thread on how people can live smarter with the hopes of having less debt, doing less damage to the planet and most importantly having more time for things that matter...
 
zerocool2009 said:
Lets see ... Soap, milk, deodorant, meat, car oil ( lol ). That comes in quite handy actually.
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I assume that you buy long life milk. Buying in bulk can work, but make sure that you can use what you buy within its lifespan.

My best tip is to treat saving as an expense. Many people don't have good willpower, financial know how, and try to cut expenses, but fail. If you put money away on day 1, you'll adjust your spending pattern to your 'reduced' income.
 
RVQ said:
I'm beginning to think that that's one of the biggest problems in the world today. People working harder sacrificing their limited time on this planet so they can buy useless crap only to throw it away.
Click to expand...

So very true, I have some very wealthy relatives, similar age to me. I have a bit of a problem with bargain hunting, mainly motivated by growing up with not much and still perhaps not much, I thought I took it a little far at times but no I discovered to my dismay they are worse than me but just in a different spending league, always hunting for ways to afford to get more.

True wealth is being able to afford your needs without any hassle, allowing you to focus your time and energies on living life and sharing it with others, if your lifestyle needs just escalates with your income you never actually become wealthy, just rich on paper.

It's hard to appreciate that when that guy drives past in his out the box Porsche but for most people that's a display of riches not wealth. To be relatively paper poor but wealthy in life and heart is priceless. How ridiculous can humans be, "my needs are perfectly met but I can only be happy when I have net worth of 10 million rand, that house, that car and those toys", the worlds wisdom typically says that guy is a boss whereas he is in fact a rather misguided and needy person, perhaps even sad would be a better description.

The term wealth can apply to people across the the spectrum of paper riches.
 
cr@zydude said:
My best tip is to treat saving as an expense. Many people don't have good willpower, financial know how, and try to cut expenses, but fail. If you put money away on day 1, you'll adjust your spending pattern to your 'reduced' income.
Click to expand...

This. Debit orders is your friend.
 
I've read through this thread and there is some good advice here.

I can recommend everyone interested in this topic read (or listen to) the book The Millionaire Next Door. It's really, really good.

And to a lesser extent, but also good, The Automatic Millionaire, which I can summarize by saying that you need to focus on reducing monthly debit orders, and set up automatic payments for savings/investments, the day your salary lands in your account.

That principle ties in with the "pay yourself first" principle from the book The Richest Man In Babylon. Actually, this book should be everyone's starting point.
 
Pakka said:
...you need to focus on reducing monthly debit orders, and set up automatic payments for savings/investments, the day your salary lands in your account.
Click to expand...

I assume you mean "debit orders" as in debit orders for services/contracts/scht you don't need and not "debit orders" that investment companies take from you?

But it is correct - use auto payment/debit order/whatever as an "expense" and do them as soon as you get salary instead of the last thing before pay day with what is left.
 
Pakka said:
I've read through this thread and there is some good advice here.

I can recommend everyone interested in this topic read (or listen to) the book The Millionaire Next Door. It's really, really good.

And to a lesser extent, but also good, The Automatic Millionaire, which I can summarize by saying that you need to focus on reducing monthly debit orders, and set up automatic payments for savings/investments, the day your salary lands in your account.

That principle ties in with the "pay yourself first" principle from the book The Richest Man In Babylon. Actually, this book should be everyone's starting point.
Click to expand...

+1, a part of all I earn is mine to keep!!
 
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