Publish Date: 07/03/2019
How to prioritise savings daily, monthly and long term
Everyone has goals - something we would love to achieve in the long or short term. Saving for them, however, isn’t such an easy task. The cost of living is so demanding on our pockets each month, often our dreams take a backseat.
So, how can I save money, you ask? The answer is surprisingly simple. Making small changes to your daily and monthly spending, ultimately allows you to save for long-term plans. This is called prioritising your savings goals. Below is an easy-to-follow guide on how to save money and make your goals a reality.
The first step for any savings plan is to have clear goals in mind. Your next move is to set up a budget. Remember: your commitment to saving and budgeting will determine your success in saving money.
Once you’ve decided on your goals and have drawn up a budget, the real work can begin. Not only will you be able to make some adjustments to your spending, but you can also start looking at other ways to invest and save the money you’ll have left at the end of the month.
Simple changes to your daily routine can give you small savings that add up over time. Here are some ways to save on everyday activities.
Cutting down on monthly bills may require some diligence, but the potential savings make the effort worthwhile. Here are a few ways you can save money every month.
Some dreams take longer to come true. But, the extra work you have to put in makes the end goal so much more rewarding. Saving over the long-term — to take your dream vacation, to make the down payment on your new home, or to send your child to university — requires planning and discipline. Here’s how to do it.
Plan for major purchases — Time your purchases of appliances, furniture, electronics according to sale periods like Black Friday.
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.