Guiding consumers since 2009

Shop around to save money and slash your debts

By Staff Writer

English novelist William Somerset Maugham once said money is like a sixth sense - and you can't make use of the other five without it.

The credit crunch and high debt environment has made saving every cent a must if consumers are to keep their heads above water.

Toby Wooldridge from Go Banking says:

Evaluate your insurance and assurance products

If you have not evaluated your premiums in the past year, do so - they seem to increase slowly. Shop around to get competitive quotes.

Click here to compare insurance quotes

Reduce short-term debt

Credit cards, store cards, overdraft facilities and personal loans are charged at a higher lending rate. Get rid of them, or pay them off.

Click here to find out about debt consolidation if you own a property

Medical aid

Evaluate your medical aid. Do you really need a comprehensive plan? Perhaps you can downscale to a more basic cover.

Click here to compare medical aid quotes

Bank fees

Add up your fees - you will be shocked when you realise what you are paying.

Click here to compare bank charges

Cut back on luxuries

One less packet of cigarettes (R22), four less cappuccinos (R14x4) and one less meal out (R150) could save you R228.

Have your DSTV decoder switched off for a few months - saving R439 per month.

If you are not using your internet account regularly, you don need it. Cancel it.

Click here for the Justmoney.co.za budget planner 

Don't fall into excess

Banking is about managing risk and pricing it right. The higher your risk profile, the more the banks will charge you for what you borrow.

Make payment arrangements

If you are really struggling - call your bank and make payment arrangements.

Click here to find out about managing your debts

Recent Articles

Featured Can you take out vehicle finance on an old vehicle?

As it turns out, creditors have several concerns regarding cars older than 10 years. Justmoney has a look at why creditors are sceptical of older vehicles and what you can do to get around this.

Should you have a living will in place?

When you hear the word will, the only thing that comes to mind is the document that states who is going to inherit you property when you’re dead. But have you thought about who’s going to decide what happens to you when you become incapacitated? A living will can help you do just this.

Know the difference between a loan and a credit facility

Choosing the correct product according to your needs is critical in making smart financial decisions. Credit options can be separated into two main categories – loans and credit facilities. But for some people, the lines can be quite blurred between the two.

Is property a good investment?

It’s good to consider whether property is a good investment. Justmoney spoke to numerous specialists to find out whether this is the case in South Africa.

Deals

DaVinci’s on Kloof Students Discount

Price: Available on request
When: Daily
Where: Cape Town

Ghandi's Backpackers and Guest Lodge 10% Discount

Price: Available on request
When: Daily
Where: Johannesburg

Fairway Hotel Happy Hour Special

Price: Available on request
When: Until 13 December 2019
Where: Johannesburg