When it comes to spending, we may take some things for granted which could result in us doling more cash out our wallets than is necessary, month-to-month. Consider these when it comes to your spending.

Subscriptions

Debit orders from Apple Music, Spotify, Fibre, Netflix, DStv etc. can really run down your budget for the month. Review all of your subscriptions and think about if they are really giving you value. If they don’t, consider downgrading (if available) or cancelling them. This goes for memberships to social, sports and culture clubs that you may also be paying for.

Bank charges

Take a look at your bank statements for the last 3 months and identify what your bank is charging you for. Once you have done this, you can consider changing you spending behaviour or changing banks entirely. If you are considering the latter, be sure to do some research on what other banks are offering.

Convenience spend

Eating out or using Uber Eats, pet grooming or house cleaning services. These are just some things that we use to make our lives more convenient but they drain our monthly expenses. Consider cheaper alternatives like cooking for the week or cleaning the house with a friend or partner. If you have the time, this is a great way to save money every month.

Rewards and loyalty programmes

Look at how you can maximise your rewards programmes to work in your favour. Whether it’s points, cashbacks or discounts, there are many ways you can save money by doing the things you already do every month like shopping for groceries. As a Multiply member, you get up to 12% in cashbacks when you shop at Pick n Pay and Dis-Chem which earns interest in your Multiply Money savings wallet.

Side note

It’s good to use tools to help you monitor your spending and encourage you to save. Keep a lookout for the Multiply Money app’s exciting new features including its Savings Tracker to help you do just that.

References

http://theguideonline.co.za/index.php/2019/09/05/guide-finance-tips-spring-into-financial-wellness/
https://www.iol.co.za/personal-finance/my-money/spring-is-finally-here-time-to-spruce-up-your-finances-31805430
https://citizen.co.za/business/business-personal-finance/2173646/shake-up-your-finances-this-spring/
https://www.themuse.com/advice/50-personal-finance-tips-that-will-change-the-way-you-think-about-money