South African consumers are being hit with the excessively high cost of living as food, fuel, and other necessities are continuously rising.
This has left many to tighten their budgets and find ways to cut costs. Cutting unnecessary expenses and saving more is a good habit to foster long-term, as it allows you to boost your financial future and enjoy greater security in your life.
Here is some expert advice on how to save money:
Use natural home products
Instead of buying expensive cleaning products that are often also harsh on the environment, experts have suggested using all-natural home products that are easily found in most kitchen cupboards.
They explained that in order to rid your microwave of old food splatters, place a microwavable bowl filled with one-third vinegar and two-thirds water inside the microwave. Then proceed to heat for five minutes until the microwave is steamed up, and this will allow baked-on food splatters to soften and be removed with a quick wipe. If not, simply repeat the process.
They added that black mould or mildew in a bathroom shower could be removed with a paste made out of one part vinegar and two parts bicarbonate of soda. Apply directly onto the mould, allow to dry, then scrub away with an old toothbrush and rinse.
In addition, smelly drains can be eradicated by mixing half a cup of bicarbonate of soda with a quarter cup of salt. Sprinkle the mixture down the drain, followed by a cup of warm white vinegar. Let it sit for 10 minutes, then pour hot water down the drain.
Clean your fridge
We’ve all heard about how you can save money on switching your geyser on and off, but did you know that a dirty fridge uses extra power? Experts explained that the coils located at the back of a fridge cool the air down, but they can’t do so efficiently if they’re coated with grime. To reach the coils, unplug your fridge, pull it away from the wall and gently brush off any dirt and dust on the coils.
It is suggested that this is done on an annual basis as it will help you save on power costs. A fridge is one of the top energy-using appliances in the home, and simply cleaning its exterior coils can reduce the amount of energy it uses by up to 30%.
Change your daily habits
Financial experts believe that small savings can add up to a big amount if done regularly. An example is drinking water instead of pricey soft drinks, as well as opting for tap water instead of buying bottled water, which is better for the environment too.
You can also save money on your weekly shopping by making sure you cut down on food waste. Install an app like UPnP that allows you to add on or round up every transaction so that it can automatically be invested as a micro-saving.
When doing laundry, choose cold-water cycles whenever you can, and air dry clothes instead of using an energy-guzzling tumble-dryer. Only wash when you have a full load - the same goes for the dishwasher, too. Eat all leftovers and take stock of what you have in your food cupboard before going to the store so that you can shop with more precision.
Avoid energy guzzlers
With electricity prices on the rise, look at other ways of reducing the amount of electricity you use, experts have advised. This may mean switching to LED bulbs or changing the timer on your geyser so that it only heats up when you expect to need warm water.
A geyser can account for 40% to 60% of your electricity bill each month, and by installing a geyser timer, you can regulate that the geyser is off during peak times. A geyser blanket will maintain the heat in your geyser so that it does not need to be switched on as often.
Experts have also suggested making it a habit to unplug appliances and electronics usually left on standby. These include items like televisions, laptops, and cell phone chargers that still draw on electricity even when they're in standby mode, which is literally a leaking of power.
Another tip for cold nights is to opt for an electric blanket rather than switching on a small heater in your bedroom, which can use up to four times as much electricity. Longer-term, consider installing solar power in your home, which can translate to a massive saving on your energy bill and removes the pain of load shedding.
Drive less, and save on insurance
With big hikes in the petrol price, getting around can make a sizeable dent in your budget, so plan any driving that you do. During the week, carpool with co-workers or commute outside of peak traffic hours. Save fuel by driving at a moderate speed and switching off the air conditioning. On weekends, draw up a plan for travel efficiency to limit the number of times you need to drive. List the things that require driving to, like shopping or seeing friends, and see how many can be done in one trip.