Justmoney's 2017 savings tips

Sometimes the hardest part about saving is getting started. It can be awfully difficult figuring out simple ways to save money and how to pursue your savings in order to achieve your financial goals. Justmoney offers a savings tips guide to assist you.

1. Credit card: Find out when your 55 days interest free on your credit card expires and pay it off before the date to avoid paying interest. 
2. Online Shopping: Compare the cost of items online and instore and factor in delivery charges, as online isn’t always cheaper.
3. Tax-free savings account: Make use of tax-free savings accounts. You can save up to maximum of R30 000 a year.
4. Tax-free savings account: Open a tax free savings account or retirement annuity for your child to help them start saving for the future. 
5. Credit card: Many credit cards offer free travel insurance if you pay through your credit card. Consider this when booking a trip.
6. Insurance: Negotiate your insurance premiums annually, especially when it comes to age milestones in your younger years, to ensure that you get the best premium.
7. Money market: It saves not to panic when there is upset in the markets, such as the impact of Donald Trump’s new policies being implemented, as the market may correct itself within a few weeks and you have lost money by selling your investments during the panic. 
8. Travelling: If you travel regularly, look at joining any hotel or frequent flyer rewards programmes.
9. Hire purchase: Avoid buying things on hire purchase. At the end of the payment time, you have actually paid more for the item than if you had saved up for it.
10. Bank statements: Print your bank statements at home by accessing your internet banking profile, and take it to the bank to be stamped, rather than paying for the bank to print your statements for you. 
11. Financial service board: Before investing in any company or product, check with the Financial Services Board that the company is a registered service provider. You can call 0800 20 20 87. 
12. My Green Card: If you like to take regular trips to Cape Point, Table Mountain and other areas around the Western Cape consider purchasing a Green Card. The card costs R135.
13. Electricity: Buy prepaid electricity on the first of the month and get more units for your money. 
14. Loyalty cards: Swipe loyalty cards like the Pick n Pay SmartShopper card to see what discounts you can get before you start shopping. 
15. Public transport: If you make use of public transport, e.g. the train, buy a monthly train ticket as opposed to a daily return or weekly. This can result is huge savings. For example, a return from Bellville to Cape Town is R23 per day, resulting in you spending R690 per month. A monthly ticket, however, on the same route is R257, meaning you will be saving R433.
16. The Entertainer: If you enjoy going out regularly, investing in The Entertainer book or app can help you save with buy one get one free offers. You can sign up for R495.
17. ATM: Avoid using an ATM outside of your banking network to save on high ATM withdrawal charges.
18. Insurance quotes: Shop around for the cheapest insurance quote, but remember to read the terms and conditions of the cover to make sure you get everything that you need. 
19. Medical aid: If you have or are thinking of getting a fitness tracker, check to see if it connects with your medical aid scheme so you can collect points for your fitness. 
20. Vitality Rewards: If you are a Vitality Rewards member, get a free coffee from Vida e Caffé or Kauai smoothie every week simply by meeting your fitness goals.
21. Debit orders: Set up debit orders to pay your accounts. It is cheaper to have debit orders go off each month than doing the payments manually yourself through internet banking or in the branch. 
22. Investments: When advised to invest in something, always do your own research and get a second opinion. Speak to an accredited financial advisor before making any financial decisions. 
23. Deposits: Don’t deposit money at a bank branch counter, rather do it at a cash accepting ATM or do an EFT. 
24. Savings: Collect all your change throughout the month and deposit it into a savings account at the end of each month. 
25. Medical aid: If you have a large family and visit the GP regularly, see about applying for medical cover that includes unlimited GP visits. 
26. Islamic banking: Consider making use of Islamic banking when purchasing a car. Islamic vehicle financing comes with a fixed repayment plan, so your contract will not be impacted by the movements in interest rates.
27. Woolworths’ specials: Purchase Woolworths’ buy in bulk specials to save on grocery costs.
28. Electricity: Reduce your electricity bill by switching off computers, printers overnight and not leaving them on standby mode.
29. Cashless payments: Leave your card in the safe at home. Pay using payment apps on your phone or using cashless options available to you by your bank. This reduces the chance of fraud and your chance of losing your cards. Remember, banks charge for replacement cards.
30. Purchasing a car: Before you buy a new car ask about how fuel efficient it is. If you drive long distances you’ll want to buy a car that doesn’t chew through petrol.
31. Flexitime: Work from home or ask for flexi time to save on petrol. You could also arrange your working times to arrive and leave later, avoiding peak traffic and the associated increased fuel use.
32. Cell phones: Use a pay-as-you go option for your cell phone or set a cap on your contract to avoid overspending on data and make sure you stick to a budget.
33. News: Use online news sources to save on the cost of buying a newspaper. 
34. Free Wi-Fi: If you are working from home and miss the hustle and bustle of people around you, you could vary your routine by working from a coffee shop that has free internet access for its users. Take a look at Moneybags’ free Wi- Fi guide.