In today’s economy, food and fuel prices are at an all time high, making budget planning an essential in every household.

It is more difficult now to juggle groceries, petrol, rent and utilities than it was five years ago.

To help you breathe a little easier, we have compiled a list of five ways to budget like a boss.

• Fuel – lift Clubs saves on fuel costs:

Save on fuel and carpool with a colleague or a neighbour.

• Groceries – cut back on the luxuries:

We all enjoy buying luxury items while doing our grocery shopping. However, now is the time to learn to compromise.

• Entertainment – improvise on entertainment costs:

Movies and restaurants have become very pricey. Pack a picnic basket instead, and spend the day at the park. The outdoors is cheap and provides good family time.

• Be on the look-out for sales and specials:

Compromise, once again. Shop around for sales rather than grabbing the first pair of shoes you see. Also, look out for two-for-one specials. You will be surprised how much money this can save you.

• School accessories:

As a parent, you know your child constantly needs new stationary. Buying in bulk at the beginning of the year will save you lots of money throughout the rest of the year.

ALSO READ: #Parenting 101: Are you teaching your kids bad money habits?

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