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7 easy ways to stretch your rand

Published on: 12 April 2016

7 easy ways to stretch your rand further

With the cost of living increasing these days, more and more South Africans are looking for smart and convenient ways to make their money go even further.

Keep reading for simple yet effective ways to keep your hard-earned cash in your pocket!

  1. Create a budget… The first step in managing your money is to create a household budget. This will allow you to see where you are spending your money and where you need to cut back. It's never been so easy to keep a budget, as modern technology can now do the hard work for you. You can even do it on the go through smartphone apps, meaning you can stay on top of your finances wherever, whenever.

  2. …And stick to that budget! Educate yourself as much as you can about saving and make a committment to take charge of your financial situation. Do this by reviewing your financial standing once a week. During this time, update your budget, review your accounts and track your progress against your financial goals.

  3. Open a savings account with higher interest rates and cheaper bank costs. If necessary, seek financial advice from a professional such as a financial adviser.

  4. Go DIY and make your own consumables. From your daily coffee, to pricey purchases like cleaning supplies – it’s the smaller things that add up. You can actually save a lot of money just by making things yourself. Google is your friend!

  5. Plan and prep your meals. Planning your meals for the week helps save you money, time and guides you to stay on track with healthy foods. Be sure to take food to work, prepare your meals and snacks for work the night before – and you won’t be tempted to buy lunch.

  6. Use store loyalty cards. By swiping your loyalty card or scanning coupons, you may benefit by getting discounts, cashbacks, or points, just because you are a customer! How awesome is that?

  7. Name Drop with MiWay! MiWay clients can earn cash rewards simply by recommending friends and family to MiWay. Earn R1 000 for each incepted policy and R5 000 bonus rewards for every 5 online policies. To learn more about how it pays to Name Drop, click here.