You are Here > Home > Blog > Ten ways to survive 2013

Ten ways to survive 2013

Jan 18, 2013

close-up of human hands cutting a credit card by scissors

Keep a budget: As boring as it may seem, you have to know what you have and what you are spending. If you need extra discipline draw the cash you need for day to day expenses as per your budget and put it in an envelope. When that envelope is finished, there is no more money.

Say no to credit: right now make a promise to yourself that 2013 will be the year you take on no new credit. If you really need extra cash find a way to earn it, no matter how menial. Work for yourself, not the bank.

Change your shopping habits: Check the prices of your usual brands and see if there are more cost effective products. Buy your fruit and veggies separately, pre-packed costs more. Always shop with a list, it is less likely that you will spend on unnecessary items.

Eat before you shop: research shows us we have less impulse control when we are hungry; interestingly we are less likely to have control when it comes to our money if we are dieting. Apparently we humans have a limit as to how much self-control we can inflict on ourselves.

Car pool: with petrol prices rising it makes sense to start a car pool either for work or for kids school lifts

Smallest to biggest: cut up those store cards, you never “need” them. Then start by paying off the smallest debt, it will give you a quick sense of accomplishment and the extra cash to start paying off the next smallest debt

Think out the box: Live is about living, not existing so don’t stop having fun, just be creative about it. Dreaming about that little sports car? Rather than getting into serious debt, hire one for a weekend – that is about how long you would enjoy a new car anyway before the reality of the repayments hit you.

Change your friends: if you are mixing with people who measure their value by the “stuff” they own, find different friends. Chances are the “stuff” is all bought on credit and they will soon be borrowing money from you.

Start a stockvel: Once you have found the right kind of friends, start a savings club. There is nothing like peer pressure to keep you saving for a goal

Be grateful: Most importantly focus on what you have, not what you “can’t  afford”. Remember there are at least about two-billion people worse off than you.

First published in City Press.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Maya Fisher-French author of Money Questions Answered

Previous Articles

It’s time to spring clean your finances

“When you don’t know where your money is, when you have no filing system for your important documents, when you dive into your pocketbook to pull out crumpled bills, when your car looks like a garbage can, when your closets are filled with junk and clutter you cannot...

Self-service facility for GEPF members

Technology is making it easier for GEPF members and pensioners to keep track of their pension information and claims process. By downloading the new GEPF self-service mobile app onto your device, you can remove the frustration of standing in long queues at GEPF...

GEPF establishes complaints handling office

If you are struggling to get your claims processed or not receiving your benefits, help is at hand with the recent establishment of the Government Employees Pension Ombud (GEPO). The state is the largest employer in the country, and the Government Employees Pension...

More households supporting unemployed family

For many working South Africans, the pressure of financially supporting friends and family is unrelenting. Most of us have either experienced a job loss or have a family member who lost an income due to the extended Covid-19 lockdown. It is not surprising then that...

What is screen scraping and is it safe?

Screen scraping can be used by criminals to steal data, but financial services companies are increasingly making legitimate use of this too. Angelique Ruzicka investigates what the process entails and how consumers can protect themselves. Screen scraping can be hugely...

Are banks putting customers first?

Banks were in the spotlight recently with the release of the annual report by the Ombudsman for Banking Services (OBS) and feedback from the Financial Sector Conduct Authority (FSCA) regarding the banks’ adherence to the Conduct Standard. The draft Conduct Standard...

Should women celebrate community of property rights?

There has been much celebration around the protection of women in customary marriages with President Ramaphosa recently signing into law the amended Recognition of Customary Marriages Act. However, are these women fully aware of the implications, especially around...

Five tax myths many employees still believe

Tanya Tosen, Tax and Remuneration Specialist at Remuneration Consultants, addresses five tax myths that have become popular over the years. Many employees don't understand the complex tax calculations that payroll applies to their earnings each month and often...

Relief for struggling restaurants

Soft loans and payment holidays are available for restaurants still battling to survive the pandemic. At the beginning of May, my favourite local coffee shop closed its doors after 20 years of trading. My neighbourhood shopping centre, which caters to many “mom and...

Money and divorce

David Thomson, Senior Legal Adviser at Sanlam Trust, shares some practical tips about the financial side of divorce. The news of Bill and Melinda Gates filing for divorce after 27 years of marriage sent shockwaves through the philanthropic world. The couple is worth...

Pin It on Pinterest

Share This