What is Wealth Management during Januworry

01/01/0001

Tips for surviving January without going (further) into debt

While it’s the month of fresh beginnings, January can also feel like “JanuWorry” to many people. After all the fun and spending of the festive season, many joke that January feels like it’s three months long because the wait until the next pay cheque seems to take forever.                                                                                         

So, how can you to your next pay cheque without worrying about how you’re going to afford the day-to-day, as well as any unexpected expenses? The solution is treading carefully so that you’re not in crisis by the end of January.

These tips will help take the worry out of JanuWorry:

Evaluate costs: 

Look at your current household expenses and identify areas where you can cut costs. The key is to prioritise things that matter the most, such as insurance and medical care. 

Use discounts/vouchers: 

Shop smart and take advantage of discounts offered by shops. The savings might seem insignificant, but they could help you save a substantial amount over time. Also, take advantage of rewards programmes. Remember to only buy what you need, not what you want, even if there is a discount attached.

Use your loyalty rewards

If you have any loyalty cards, check if you’ve accumulated any cashback. This will help when paying for groceries or school supplies.

Sell your goods

Do you have any used items (or unwanted Christmas gifts) that you’re happy to part with? There are many platforms such as Gumtree and various Facebook groups where you can sell your unwanted items.

Buy second hand

Many schools have second-hand book shops and uniform shops, so you can save significantly buying “previously loved” school essentials.

Arrange a lift scheme/lift club

If your kids are starting school, look around for parents near you who are willing to join in a lift scheme. Not having to do school lifts every day can help you save. You could also start a lift club if you work with someone who lives close to you.

Get inventive with your meals

You don’t need to live on toast alone in January – there are lots of budget-friendly meals that you can whip up. Try to use as much of the food in your cupboards without having to buy more. Get creative! There are great resources online – a favourite is Taste of Home.

Pack your own lunches

If you normally have your lunch or coffee at work, calculate what this is costing you per month. Limit how much you spend there per month and bring food from home to save extra cash.

Free entertainment

Look at forms of “free” entertainment, such as picnics in the park. How about a movie night at home with homemade popcorn?

Read more: Our top 3 tips for saving towards your future

Up Next

Best savings options for your child’s education
Education isn’t cheap, so if you’re looking for the best ways to save money it’s important to look at things like a flexible savings account and savings interest rates.

Publish Date: 11/06/2019
Read more
5 reasons people don’t save money
Are you saving money or are you one of the many people who believe they simply are not able to? You do not have to earn a fortune to put money away each month – in fact, you could start today.

Publish Date: 11/06/2019
Read more
Best investments for financial peace of mind
Even if you are retired, it is never too late to look at where to invest money to provide for financial freedom in the years to come.

Publish Date: 14/06/2019
Read more
save money without changing your lifestyle
If you’re like most people, you probably don’t want to drastically change your lifestyle just because you want to save. So here are some simple steps to save money without changing your lifestyle.

Publish Date: 14/06/2019
Read more
How to raise financially savvy kids
Everyone wants their kids to enjoy healthy financial futures, but parents often forget to provide children with a good understanding of money. With these steps, you can raise financially savvy kids.

Publish Date: 17/06/2019
Read more

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'.