12 Ways to Save R50 a day
It might not seem worth it to go to the trouble to eliminate small expenses from your budget. After all, how much of a hit could your bank account really be taking if you spend a few rands here or there? A big hit, actually.
Just cutting R50 a day from your daily spending could save you R18000 a year. Then, if you were to set aside those savings each year for 30 years, you’d have more than R600 000, assuming a 7 percent annual return.
Here are 15 ways you could easily save some rands a day. The actual amount you can save will depend on your spending habits, but these examples show that it is possible to find an extra R50 in your budget daily.
1. Stop Getting Breakfast on the Go
Brown bagging your lunch can help avoid blowing R30 – R50 a day on fast food or restaurant meals.
Considering that the average cost of a restaurant breakfast is about R35 we recommend storing low-cost items such as bread, peanut butter, granola bars or even frozen breakfast sandwiches at the office so you won’t be tempted to buy a pricey breakfast on your way to work.
2. Skip Sodas
If you dine out for lunch or dinner, you can lower the cost of those meals by ordering water instead of soda. At a fast-food joint or restaurant, you’ll pay R12 (or more) for a soda. If you order a soft drink at both lunch and dinner, you could easily approach the R25 mark.
Cutting out sodas at home as well — and opting for water instead — also could help you save money.
3. Use Discounted Gift Cards
You can save money on everyday purchases using discounted gift cards for retailers you frequent. Pic and Pay, woolworths – many shops have these.
4. Take Advantage of Supermarket Sales
One of the best ways to lower your grocery bill is to stock up on items that are nonperishable or can be frozen when they are on sale rather than buying just what you need for the week.
5. Find Coupons for Retail Purchases
Clipping coupons can help you save at the supermarket. But you can use coupons to save on plenty of other everyday purchases — and you don’t have to clip them.
6. Look for Free or Low-Cost Entertainment
You might be surprised at how much you’re paying for entertainment. The average household may spend around R20 000 annually on fees and admission, toys, and other entertainment supplies.
There are plenty of ways to cut entertainment costs. Take hikes in nearby parks rather than paying to go to an amusement park. Visit museums on free admission nights. Invite friends over to watch a movie rather than going to the theater or take advantage of free lectures at the public library or a nearby university. Look for activities available in your area that appeal to you and your family.
7. Stop Buying Bottled Water
The average cost of one bottle of water is R8, according to Statistic Brain Research Institute. If you or your family members drink several bottles a day, you could easily be blowing R50 a day on water that you could get for a fraction of the cost from the tap. Check your local area for advice on the quality of your water.
8. Avoid ATM Fees
If you’ve made it a habit to withdraw cash from the nearest ATM rather than one in your bank’s network, you’re paying a lot for convenience.
9. Eliminate DSTV
With so many free ways to watch shows and movies, there’s no need to pay for pricey cable TV. The average TV bill is R650 a month.
You can watch dozens of movies and previously aired TV shows for free on youtube and there are move affordable options coming soon via Netflix etc.
10. Walk More, Drive Less
Being willing to walk or take public transportation can save you some serious cash depending on your driving habits and gas prices where your live.
11. Make Coffee at Home
If you buy a 340ml cup of coffee at the coffee shop each day for about R02, it might not seem like you’re spending a lot. But it costs only about R1 – R2 to brew the same size cup at home.
12. Actually Save R50 a Day
To help her clients save money, certified financial planner Ilene Davis said she tells them to stash R50 a day into an empty soda bottle. This practice guarantees that they’re actually saving that amount daily.