There are only three short months until Christmas, that festive time when spending money gets way out of hand in the spirit of giving and goodwill.
To avoid getting caught up in the debt trap this year, it’s time to take control of your finances now, and get into a habit of careful spending.
1. Cellphone contracts
If you’re still locked into a cellphone contract in 2023, it’s time to get out! Unfortunately, you’ll probably have to wait for the contract term to end, but once it does, run.
Do not get suckered into a two-year contract paying off an exorbitantly expensive phone that does exactly the same thing a much cheaper brand does.
Rather save your money and buy a phone outright, then simply buy your airtime and data monthly. There is no need for a cellphone contract in 2023!
2. Last-minute grocery deliveries
Finally, South Africa has achieved online grocery shopping convenience, with all the major outlets now zooting around on delivery bikes.
This is incredibly useful when you get home and there’s no bread and milk, but the problem creeps in when you’re using the service with no planning.
The delivery fees add up, making your grocery bill more expensive than it needs to be. Instead, try to outline your monthly or weekly grocery needs and get everything in one go.
3. Unnecessary subscriptions
From having only SABC and Mnet to a complete array of streaming services readily available, it’s often quite tempting to sign up to all of them.
The costs are often under R100, but when you have more than one streaming subscription, including music, books and other entertainment, it adds up.
The great thing is that many of these services can be halted month-to-month, so maybe sign up for one per month and binge watch what you need to before pausing your subscription and trying another.
4. Online discounts
If you’re caught in the web of online discount shopping, it’s time to break the cycle! Yes, an item might be 70% off, which seems like a big saving, but you’re actually wasting money by paying 30% for something you really didn’t need in the first place.
Many of these online discount sites put pressure on you to buy something now before the time is up, indicating that there are only a few left to purchase! Don’t do it. Get off the apps and ignore these sales.
5. Birthday cards and wrapping paper
Buying birthday presents is costly enough without the need for expensive shiny paper and a card that won’t even get read.
You can be creative by simply using brown paper, or even one of your reusable shopping bags.
Add a bit of twine or ribbon and you have a great gift, useful ‘wrapping paper’, and a happy recipient.
SOURCES:
www.fi.money.com
www.finance.yahoo.com
