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Building an emergency fund one month at a time
Groceries are often the easiest place to find savings. Write a list before you leave home and stick to it. Compare unit prices, not only the shelf price, and check the loyalty specials at your usual stores. Buy staples like rice, maize meal and oil in larger packs when you can afford it. Plan three dinners around one cheap protein so nothing goes to waste.
Keep a running total on your phone as you shop. If the trolley goes over your limit, put back the extras. It adds up by month end.
Plan the week
Check your cupboards first, then plan meals around specials and what you already have.
Bring your latest payslip and bank statement, and we will help you build a simple plan together.
Store cards feel easy at the till, but the interest adds up quickly. List every account with its balance and interest rate. Pay the minimum on all of them, then put any extra money toward the one with the highest rate. When that account is cleared, move the same amount to the next one. Steady progress works better than occasional big payments.
Close the small accounts first
Clothing accounts can pile up without you noticing. Ask each store for a statement and check the monthly fee and interest. Cancel cards you no longer use, once they are paid off. Set a reminder a week before every due date so you never pay a late fee.
Pay a little more than the minimum each month. Even an extra R100 shortens the time you stay in debt and cuts the interest you pay. Write down the date you plan to be clear and look at it often.
