BLOGGING THE VIEW: Budgeting tips: 8 ways to save money

Lauren Anthony

With the Budget Speech postponed to 12 March, we’ve been given some reprieve from the proposed 2% VAT hike.

But while the government finds ways to address fiscal debt, chances are we’re going to be paying more one way or another.

From increased fuel prices and medical costs to everyday grocery items, budgets are being stretched.

Here are some quick tips to help you cut costs and make your money go further.

1. Track spending and set a budget

Understanding where your money goes is the first step to saving. Use free budgeting apps like Vault22, YNAB (You Need a Budget), or your bank’s mobile app to monitor expenses. Categorise your spending and identify areas where you can cut back.
Tip: Stick to the 50/30/20 rule – 50% for needs (rent, groceries, utilities), 30% for wants (entertainment, dining out), and 20% for savings and debt repayment.

2. Cut down on electricity and water costs

Despite a reduction in load-shedding, ongoing financial challenges at Eskom have seen electricity prices continue to rise. Reducing consumption can lead to significant savings.

Ways to save:
· Switch to LED bulbs and energy-efficient appliances
· Use a geyser timer or solar water heater to cut electricity costs
· Limit water usage by fixing leaks and using water-efficient showerheads

3. Reduce fuel and transport expenses

With fuel prices fluctuating, transport costs can eat into your budget. Here are some cost-saving tips to keep rising costs in check.

· Consider carpooling or working remotely if possible
· Plan trips efficiently to reduce unnecessary driving
· Maintain your car properly to improve fuel efficiency
· If you work close to home, consider riding a bicycle – added fitness, lower costs!

4. Be smart about groceries

Food prices are rising, but strategic shopping can help keep your grocery bill under control. Here are some simple ways to cut down on grocery costs.

· Buy in bulk where possible and look out for specials at supermarkets
· Shop at local markets for fresh produce at lower prices
· Reduce eating out and prepare meals in advance at home to avoid costly takeaways

5. Manage debt wisely

Interest rates remain relatively high, making debt repayment a priority. Economists will always tell you to address your debt before anything else. Here are some debt reduction strategies:

· Pay off high-interest debt first (like credit cards and personal loans)
· Avoid unnecessary loans or store credit – this means avoiding cellphone contracts!
· Consolidate debt if possible to get better repayment terms

6. Cut unnecessary subscriptions

Subscription services such as streaming media, gym memberships and apps add up quickly. You need to analyse your monthly subscriptions and decide if you can live without some of these – it’s likely you can!

· Cancel or pause unused subscriptions
· Consider sharing streaming accounts with family to split costs
· Look for free alternatives to paid apps and services

7. Explore additional income streams

In a tough economy, having multiple income sources can provide financial stability – even if it’s just a little bit extra every month.

· Start a side hustle, such as freelancing, online tutoring or selling handmade goods
· Rent out a spare room for accommodation or storage
· Invest wisely in income-generating opportunities
· Consider selling unwanted goods around the home or garage

8. Take advantage of discounts and rewards

Many banks, retailers and service providers offer loyalty programmes that can help you save, such as eBucks, Vitality and retailer rewards.

· Ensure you’re signed up for all cash-back and rewards programmes from banks and grocery stores
· Look for pensioner, student or bulk-buy discounts
· Compare insurance, medical aid and banking fees to get the best deals – don’t be scared to negotiate!

With the 2025 Budget Speech around the corner, you need to prepare for potential tax changes, cost increases and new government policies.

Taking control of your finances now can help you stay ahead. Small changes in daily habits can lead to big savings in the long run.

Don’t have the ZO app? Download it to your Android or Apple device here:

HAVE YOUR SAY