You are currently viewing FIVE WAYS TO CUT YOUR EXPENSES


Nowadays, it doesn’t matter where in the world you are, the cost of living is constantly rising, leaving many people stressing about how they are going to make ends meet. Unfortunately, this often leads to increasing debt and, as a result, even greater levels of stress. Ultimately, the key to achieving balanced finances lies not in your ability supplement your income, but in your ability to reduce your daily living expenses. Here are some helpful tips to assist you in achieving this.


This is an obvious one, but one that cannot be emphasised enough. It is essential that you know how much money is coming in, where that money is going and whether or not your income is high enough to pay off all of your monthly expenses. If not, the next step is to…


There is a big difference between wants and needs – and it is important to understand the difference between the two. By separating your needs from your wants, saving money will be much easier. Do this by making a list. Include important things like groceries, rent, etc. on your list of needs (don’t forget to add your creditors if you are paying off debt) and keep luxuries on your list of wants. By the end of the month, if you have money left over, treat yourself to a few of the items on the ‘wants’ list… or, better yet, save it for the next time you are strapped for cash.


If you ever find yourself throwing away food that has spoiled or spending hundreds of rands on ingredients for one meal, the secret to cutting expenses lies in better forward thinking and planning. Try to cook in bulk and freeze as much as possible. If you have items in your fridge that are likely to spoil before other items, be sure to cook them/eat them first. Shop on a weekly basis instead of a monthly basis to take advantage of specials, save space in the fridge and ensure that food lasts longer.


If you are going to the shop to buy something specific, take the exact amount with you in cash and leave your credit and debit cards at home. If you do this, you will be less likely to spend money on unnecessary impulse buys. Also, remember to save your credit card for emergencies only – stash it away somewhere so that you won’t be tempted to use it when times are tough… unless absolutely necessary, of course!


If saving money and reducing expenses is your aim, it is important that you get everyone in your household on board – children included! For the best possible results, why not all sit down together and come up with a plan of action? After all, achieving your goals will be so much easier as a team. Struggling with debt? Looking for more tips on how to reduce expenses? Be sure to browse our website:

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