Being debt free is not a miracle or phenomenon that one is blessed with from a supernatural sphere.
It requires one to have financial discipline and self-control when it comes to budgeting and managing expenditure with the highest level of caution. Unfortunately many South Africans find themselves in debt and require debt counselling to be able to manage their finances.
Saving is a habit that is not easy to adopt because it compels one to a legitimate and rational spending routine which many may opt not to restrict themselves to. The good news is that although saving may seem impossible for the average Joe, it is viable.
Avoid debt this Spring by following these simple tips:
Draw up a budget and stick to it
This requires you to take your time and be direct and genuine about your earnings. Consider your gross income when doing all calculations so you can determine your net income. This is the figure around which you will calculate your expenditure. After finding out your net income you again need to be profound and realistic about your expenditure to regulate your savings and emergency fund. When you’ve drawn up your budget and made comparisons between income and expenditure, it’s always important to remember that it’s your responsibility to stick to it.
Cut down on incidental spending
Upon receiving salaries, people tend to be unreasonable with their spending purely because they have the money. This type of thinking can leave you in serious debt or with financial issues that could take you months and even years to recover from. Always try to cut out the unnecessary spending and only purchase necessities and items that are really worth the pinch.
Buy in bulk
It has been proven that buying items in large quantities will cost you less compared to buying in small units repeatedly. This is because buying in large quantities automatically qualifies you for a discount as the seller will maximize profits. Buy groceries and household supplies in large quantities to ensure that you save and still get to use the goods for a longer period of time.
Look out for discount vouchers and sales promotions
Most supermarkets are usually if not always, running promotional campaigns or have discounts on certain products in the store. Always be on the lookout for the ‘sale’ sign and always capitalize on the discounts and free samples available. The misconception is that these are the doings of a cheapskate but if you really consider it, you will save a lot of money.
Is saving money a train smash for you this Spring? Can’t cope with the financial responsibilities? Finding yourself burried in debt? ContactDebt Free Plus right now for effective and affordable debt counselling.