With the recent increase in value added tax that took effect on 1 April 2018, pushing VAT from 14% to 15%, we encourage you to budget better so that you can cushion the blow of this increase. You might think 1% is a small adjustment, but considering the fact that it affects everything you buy, except for basic food items, it all adds up. Here are 5 adjustments you should consider making to compensate for this increase in VAT.   

1. Avoid increasing store credit: Try to manage your current store credit as it is. As tempting as it might be to increase store credit, don’t forget that you will still have to pay back the money. The more you owe, the more you will have to pay back. Rather plan your shopping and save up accordingly, so that you buy with the money that you do have. 

2. Pay all accounts on time because this contributes substantially to your credit score.  

3. Start saving money now: It is never too late to start saving money. And you do not have to start big. You can start small and increase your savings gradually. Speak to a financial adviser if you do not know where to start. They will help you create a plan that works best for your needs. 

4. Be a bargain hunter and use all your discounts; be it coupons or your Multiply rewards, use it all. You will be surprised by just how much you can save by using these discounts. 

5. Have a budget and stick to it. Use the Multiply Money app to keep track of all your spending and to budget better.  

Start building towards a better financial future today!