Wednesday, 29 January 2014

Tips for spending wisely in 2014

The beginning of every year can be a quite expensive time. Below are some tips for spending wisely in 2014.
  • Never go overboard on your purchases. Remember that debt accumulates with smaller purchases which on their own don’t amount to much, however, when they are all added together they make a huge dent in one’s finances. 
  • Draw up a budget and stick to it (see our previous blogpost on how to draw up a budget).
  • Use your cash wisely, for example, if you settle certain accounts early you might receive discounts.
  •  Prioritise your home loan and rent.
  • Avoid ‘buy now pay later’ deals as far as possible. 
  • Always shop for cheaper options.
  • Keep track of your expenses (compare expenses with your budget).

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