There was a recent article in Business Report that said that the government were cutting down on lunches in the face of the recession. This is commendable given the portly nature of so many of our politicians, and lunch really can cost a bomb. Now eating out may be convenient and fun but the costs really add up and in an economic environment like this one proper savings can be made by being sensible with your lunch money. Here is what some popular places cost:
- Nandos 1/4 chicken meal R 33.95
- KFC Kentucky dinner R 43.90
- McDonalds Big Mac meal R 24.99
Ok so if you eat lunch out every day at an average of 21 working days a month and go to each of those restaurants 7 times in a month you can cut back your spending on lunch by R 719.88. Which in times like these is no little amount. The government is cutting back to tea and biscuits, but even if you just cut down on your going out to lunch you can save some real moolah each month. Make some sammos at home for way cheaper and the extra R 500 a month that you find in your pocket can be put into a savings account.
The savings culture in South Africa is not strong, we tend to splurge and indulge in a lot of show and instant gratification, but an extra R 500 a month in a savings account can help you to build a buffer against the unexpected. Work out all of your costs, with a budget planner, that you would need to live at a minimum for three months and that is the minimum amount that you should keep in a savings account. If you set up a direct payment to your savings account of that 500 bucks then you won't miss it and neither will your belly or hips!