For those of you who don’t know, January is dubbed by a lot of us as Janu-worry because it’s the month we worry about our finances a lot.
Make a list and put it up (or write it down)
I realise that if you don’t write it down, you might spend that money on something else. And in the end the bill you forgot to write down, will end up in arrears. Also, when making this list, write down what’s the most important, and what installment you cannot touch. For instance, I cannot pay less on my car Installment nor monthly rent.
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Remember YOUR WHY
My views on my money habits and the fact that I want to save more money this year, does not make sense to many people I’m close with.
I’m often told that “money isn’t everything”. Yes, this is true but I want to be healthy in how I handle money too. I’ve learned for example that small changes can make you save, no matter how little it seems at first.
I also believe it’s my responsibility to take charge and be mindful if I want to achieve certain goals some day. One goal for example is to have my child have a good education some day. I need to make these small changes so that I can save money for her education.
So knowing my why am I doing this, is important. I have to remember it, because I might have loved ones disagree with my “obsession with money”.
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Having an emergency saving, no matter how little, helps A LOT
We had a problem with our car and could only fix it end of January.
I needed to attend an interview with an Uber taxi, because I’ve never tried public transport in Johannesburg before.
Yor, it cost me a lot to Uber that day – my heart was sore, because I took money out of my emergency savings. I don’t regret going to the interview though.
Brendan writes on his blog that one of the factors you should consider when having an emergency fund is can you access the money immediately? Anytime, day-or-night. He says imagine needing to draw cash at at ATM at 2am – would you be able do so? “Even if it involved using your online banking to transfer money between accounts; as long as it can be done quickly.” Great tip Brendan!
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Purchase goods like perishables beforehand
We spend a lot during December and January, because we are on holiday and we visit friends or family during this time – a lot more than usual. So, buy extra bars of soap or other toiletries and also groceries like canned food.
Pay extra on rent (and keep track of it)
This helps a lot because I took unpaid leave in December, so my salary was a little less. Paying extra on my rent the month prior meant I could pay less for the current or next month.
What money tips do you have for us?
Yep – totally agree with emergency saving. Really goes a long way.
Great tips and thanks for including my post!
These are really great tips. Money is something I am always struggling with so this was helpful, thank you
Remember your why is so key for us. So many people look at how we scrimp and save and think that we must be doing so badly if we ‘can’t afford’ to do some things. The truth is, we probably could afford to do things but they don’t serve our end goal which is to get out of debt completely. We like to think long term, not just short term satisfaction.
We try to put 10% away for emergencies every month and it has saved up many a time. Paying ahead or putting money aside when we have extra for those extra bills like insurance, licenses plates etc.
Love these suggestions. We avoid SO much stress in financial situations because we have an emergency fund! SO important!
When I was in debt, the best thing I did was create an emergency fund. It really changed how I felt about money and I only needed to dip into it twice for car repairs whilst I was paying off debt. It meant I didn’t go into panic mode whenever some unexpected expense came up.
Such great tips… I love how money savvy you are becoming ❤ being frugal is really something important! Xx
Love the tips as always, so practical and helpful! I saved all our Smart Shopper points to use in January!
Great post. What’s also helps me manage my money is the Mint app. I can create budgets for myself, see where my money is actually going, and set spending and savings goals
My tip that I really really really want to stick to is to use my bonus towards school fees. I did it for 2018. It meant less luxury during December but it helped us to create some movement in our budget.
Knowing you have some money on the site for the emergencies is so important. I use to be horrible at saving money and my dad use to get so upset with and made me feel like a loser…since then, I vowed to always have money saved.
Yes, it’s good to have money saved for emergencies. I can’t tell you how many tones there was an ac needing replacement or medical but ok. Ugh.
Good ideas! I didn’t realize you could pay extra on rent! That would definitely come in handy!
And you know licence plates or renewal of the car license disk is something I always forget about!
I agree Wendy, it helps you not to go into panic mode. MommaLikeMe, I lost my Smart Shopper card, have to get a replacement, you’re reminding me now. I’m losing money by not showing the card when shopping. Aleah, a Mint App? I will check it out, thank you.
Renee, I do and I check my statements to see if the landlord deducted the money. Thank you for sharing your views everybody, I appreciate it.
Having an emergency fund sure helps! We needed car repairs and without that fund, we’d be at a loss for sure!
Thank you for the helpful money tips! There’s tons of great ideas for me to start using!
Holy cow, these look divine! My favorite doughnuts are always the filled ones, I love that you created a similar at home option! Yum!
Even though I am 33 a wide and a Mother to 4 children. I really do not focus enough on our money situation and I really need to start taking control.
I’m going to look at creating an emergency fund. Thanks for the tips.
Cherie