How Krugersdorp saves – ka-ching!
Don't start saving when difficult circumstances force you to – start now and thank yourself later.
We may be out of a recession, but saving is vital, especially as we approach the festive season and heading towards the new year.
Even financial experts agree that saving is never easy; however, the locals that we spoke to prove that saving is possible. The News spoke to residents of Krugersdorp and surrounding areas to find out how the West Rand makes its money go further.
Muzi Mbulwa of Munsieville said he and his wife play different stokvels (groups of saving schemes), which helps immensely towards the end of the year and during the first three months of the following year.
“My wife suggested the stokvel idea to me years back, and I’ve never looked back. She is a member of a grocery stokvel, and I am a part of a financial stokvel.
So the grocery stokvel saves us money from ‘Christmas shopping’ and the money I accumulate from my stokvel is used usually between January and March,” said Muzi.
Though stokvels are the ultimate way to save for many South Africans, it is advisable that you do a background check before you join a stokvel, and only become a member if the stokvel is reputable. You can also ask around, good stokvels with reliable members are known.
Stokvels are not the only way to save in the West, though. Annah Motaung of Krugersdorp’s CBD said she cooks with a gas stove and she ensures that her children go to bed early or they use candle for lighting afterwards.
“Adjusting our lifestyle as a family helps saves on average, R350 during winter, in summer I save up to R450. It’s not that I am strict on my children, but I had to do something because I pay the electricity bill alone,” said Annah.
The mothers of Krugersdorp seem to be winning when it comes to keeping their electricity bill lower than before.
A 54-year-old mother, Portia Theledi from Krugersdorp West, said she banned her son from tumble-drying his laundry after she discovered how drying clothes consumes a lot of energy. Her previous machine got damaged and she had to dry her washing the conventional way. “He knows that he is not allowed to dry his clothes. I think I now save about R300 off my monthly electricity bill,” she said.
A 28-year-old, Patrick Mnguni, said he cancelled his gym contract and bought gym equipment from sporting retailers.
“I thought about it carefully and invested in some weights and I also downloaded some exercise routine applications, now I workout at home,” said Patrick.
The only young woman the News spoke to about saving was Miranda Booi, a new mom, who said she no longer buys her six-month-old baby disposable nappies, she uses old-fashioned nappies. “I used to spend about R500 per month on disposable nappies, but now I use cotton washable nappies. My baby’s nanny helps with the washing, at an extra cost, but I still manage to save and we (mother and nanny) are both happy,” said the 30-year-old.
Eating out is an enjoyable leisure activity for many families, however this treat is costly. Home-cooked meals are just as delicious and healthy. A family that eats out about eight times (usually during weekends) in a month can save at least R1 500 by staying in and enjoying a movie together.
You do not have to save money that you do not have. Just start recording how you spend your money in a month, including the money you spend on things you do not need, like extra data, junk food, and any want that you indulge in and feel guilty about afterwards. If you can start by saving R50 each month for 12 months, by the end of the year you will have R600. If you can add R20 more to your monthly savings the following year, you would have R840. If you can follow this principle for four years and not spend your savings, bearing in mind that in the fourth year you would be saving R110 each month, your savings in total after four years would be R3 840. If you save using a interest-paying savings account, you would have saved more than R4 000 with very little effort.
Do you perhaps have more information pertaining to this story? Email us at krugersdorpnews@caxton.co.za or phone us on 011 955 1130.
For free daily local news on the West Rand, also visit our sister websites:
Remember to visit our Facebook, Twitter and Instagram pages to let your voice be heard!
