We all wish we had a little bit extra stashed away for a rainy day. And if anything, our current situation has taught us that rainy days may not be as far into the future as we thought. Regardless of the times, Multiply Money is here to help you stay on top of your finances. Here are some tips on how you can save more and spend smarter to make your money go further.

Review your plan

Life happened while we were making plans and it may be a good idea to review your current budget, financial position and goals to see if these are still appropriate. Although it is never a good idea to make life-changing decisions when you are going through a tough time, you need to see if your goals are still relevant and if your budget still works.

Make saving a priority

You shouldn’t only save towards your long-term goals like for a child’s education or retirement, but also for the shorter term like an emergency. Experts recommend that you have three times your monthly expenses stashed away. It sounds like a big number, but the trick is just to start somewhere and build up your emergency reserves as you go along.

Multiply Money is an excellent vehicle to save towards your goals.

You get up to 6% in cashbacks for shopping at our partners like Dis-Chem and Pick n Pay. This means you build up your savings from the discounts you get. Cashbacks are automatically added to your Multiply Money savings wallet. Upgrade to Multiply Premier and get up to 12% in cashbacks at Clicks, Dis-Chem and Pick n Pay.

You can also transfer money into your Multiply Money account from any South African bank account. So if you find that your entertainment budget used to cost you more than you thought, save some of it in your Multiply Money account.

To get the most out of your Multiply Money, make sure you transfer your money from your payment wallet to your savings wallet. Your money grows at a great interest rate in your savings wallet and you can even earn Multiply points for your balance. You have access to it whenever you need, so you’ll always be covered, just in case.

Read here how Multiply Money can help you.

Set clear goals

It’s important to take control by setting goals – both short-term and long-term. Every short-term goal you achieve brings you closer to financial success.

The path becomes easier as you achieve more and more short-term goals. If you don’t have all the answers on what goals to set and how to achieve them, don’t stress – a professional financial adviser will be able to help you with the expert advice you need.

Once you have defined your goals, use the savings tracker on the Multiply Money app to set a goal and check on your progress.

Maximise your rewards programmes

In times of great financial uncertainty, every cent counts, so take advantage of any benefit and reward programmes you’re part of. Multiply gives you real money back in discounts and cashbacks from a wide range of partners. This means you get rewarded for doing the things you would have done in any case, helping you with that extra cash in your pocket.