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Insight Magazine

August ‘17
In This Issue...

August ‘17
It’s all about the Money!

Whose not worried about money these days? With never-ending price increases in everything from food, to clothes, to school fees, we’re all in a state of shock, bewilderment and worry. It’s a stressful time for us all on the financial front and to help relieve some of that stress, here are some top tips for helping you save some cash. You might not be used to doing some of these things, you might think some are ridiculous, but actually they’re not. There are some very simple things you can do that will end up saving you quite a bit. There’s no harm in giving them a try.

    

7. Don’t spend big money entertaining your children.

It’s normal that children want to buy every toy in the toy store, and if it’s not all of them then it’s at least the most expensive one! And within an hour of getting home, you’ll find it broken, cause that’s what kids do. But actually, most children, especially young ones, can be entertained very cheaply, what your children want most of all is your time. Avoid the toy store altogether and sit and make pasta necklaces together, read them a story, fill the bath tub and throw a few plastic cups and bottles, they’ll be equally entertained, you’ll find money in your pocket and joy in your heart.


6. Repair clothing.

Don’t throw out a shirt because of a broken button, sew on a new one with some closely-matched thread or a pair of socks with a hole in them, just sew them up. Don’t throw out a pair of trousers because of a hole in them, put in a patch of some sort and save them for times when you’re working around the house. Anyone can do the most basic sewing jobs, and a little bit of practice goes a long way.


5. Invite friends over instead of going out.

Going out is part of our daily lifestyle, but these days regular eating out is bound to break your bank account. So how about an alternative, host a fun dish party dinner with your friends. Play cards or watch movies with your guests. You’ll all save money and have a blast. We’re not saying don’t go out at all, of course that’s not going to happen, but stick to drinks and have your meals at home.


4. Stop collecting, and start selling

Whose house isn’t full of stuff that we no longer use, but keep nearby for ‘memory’ or just because we don’t know what to do with them? It’s time to get all that old clutter out, not only will you feel refreshed, you’re house will be revitalized and you can make some extra cash by selling all your items online. Try the‘Olex’ or ‘Jumia’ websites, they’re great for  selling stuff.


3. Master the 30-day rule.

You’ve just seen that latest designer handbag and you just have to have it right? But avoiding instant gratification is one of the most important ways to save money, and waiting 30 days to decide on a purchase is an excellent way to implement that rule. Quite often, after a month has passed, you’ll find that the urge to buy has passed, and you’ll have saved yourself some money simply by waiting. If you’re on the fence about a purchase anyway, waiting a while can give you a better perspective on whether it’s truly worth the money.


2. Write a list before you go shopping, and stick to it.

We’ve all been to the supermarket and strolled around pushing our trolleys picking up randomly what we feel like buying. But one of the easiest ways to save money is to only shop when you have a list. Because when you’re without one, you typically end up making impulse buys and unplanned purchases, all things that cost money. Creating a list before you go will help you avoid buying food you don’t really need and might even waste.


1. Turn off the television, lights & the air-conditioning.

One big way to save money is to drastically cut down on the amount of electricity you use. Televisions, lights and air-conditioning units use an excessive amount of electricity and what with surging electricity prices, cutting down on these will make a big difference. Read a book instead, turn on a fan and never leave the lights on unnecessarily.