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My savings strategy

Savings hero and Fin24 user Amy Heydenrych responded to a call to tell other users about her savings strategy. She shares her tried and tested tips:

Like many others, the idea of saving fills me with dread and a sense of deprivation. With rising costs and an unmoving salary, the prospect of having enough cash to put aside at the end of each month seems remote.

However, as I grow older and the fear of being able to afford to educate my children and live off my pension becomes more acute, I have begun to master a few unlikely tricks to saving money:

Remember that spending is emotional

Once I began to interrogate my motives for buying certain things, my spending naturally dropped.

That R700 dress I got over my lunch break once had nothing to do with a need for new clothes. It had more to do with the fact that I was frustrated with a situation at work and fled the office to blow off some steam.

Get psychoanalytical. Either face and address the issue or find another outlet. Try running - it’s easier on your credit card.

Cook at home and take lunch to work

I used to fervently believe that I didn’t have time to cook. My hours at work were too long. I would surely waste ingredients if I bought them fresh.

I thought I was destined to spend my days (and my savings) in the convenience meal aisle with a constant after-taste of plastic in my mouth. All the while, I was spending up to R200 a day on food. Eventually, I made the time.

A disclaimer: I am not a bored housewife with hours to spare. I have a hectic job and a diary filled with commitments. Still, each week, I manage to plan a menu of lunches and dinners for the week and buy everything in advance on a Sunday.

The result: a food spend of R50 a day and a much healthier diet.

Dress simply

Like many women, I am ‘into fashion.’ Grabbing the latest trend at a high street store is a constant temptation.

This tip may sound eccentric or extreme, but when I need to cut back on clothing spend, I edit my wardrobe so that it is only black and white.

That way, I look simple and elegant while buying less. I also avoid discount clothing retailers at all costs. Quality, well-made clothing lasts longer, and is likely to be worn more often than a cheap knock-off.

 - Fin24

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