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