WHERE IS MY MONEY GOING?

Find yourself running short each month, wondering where your money went? Chances are you’re spending it on small things you don’t notice or even need, but that can add up surprisingly fast. Some simple changes can help you in these tough times.

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You’ll be surprised how much you can save if you pay attention to the little things as well as the big things. For example, giving up smoking alone can save you a bomb, depending on the brand and how much you smoke. Try a little experiment – every time you would have bought cigarettes, put that money into a jar or tin, and count it after six months. You might even be able to splurge on a new TV! Here are some other things we tend to waste money on:

UNPLANNED GROCERY SHOPPING
If you shop often and without a list, it’s easy to pick up impulse items, even double up on items. Set yourself a weekly budget, then roughly plan your meals for a week (stew and dumplings one night, pasta the next, etc). Draw up a weekly shopping list – and stick to it. Bag leftovers for work lunches (cold stew can make a tasty sandwich filling, and cold pasta with tinned fish, chopped tomato, onion, a bit of chili and herbs of your choice makes a great salad).



Also remember to use grocery coupons (like your Jet Club coupons each month) or vouchers, and make use of any other loyalty programme benefits like special savings at certain times.

Related article: How to make your salary stretch

TRANSPORT
Taxi fare can mount faster than the kilometres, especially after the fare hikes last July. ‘This is too much – I used to pay 1800 for a single trip to Lenasia and it’s gone up to 2100 now,’ domestic worker Lerato Dlamini told iol.com at the time. She had also been forced to take a salary cut from 3 50000 to 3 00000 a month. Explore joining a lift club with a driver you can trust, or taking a bus or train instead. According to a report last year by ResearchAndMarkets, in 2019 travelling the 23km from Soweto to Joburg by BRT bus cost 1500, and by train just 900, against 1700 by minibus taxi. As to longer distances – travelling the 595km from Joburg to Durban cost 24000 by bus (Eldo), against 32000 by taxi (train was more, 39000). So check prices in your area and weigh them up.

FIZZY DRINKS
Is a fizzy drink or juice your go-to pick-up at work and what the kids ask for? At a supermarket, cola can set you back around 1000 (for a 600ml bottle or 300ml can). That adds up to 5000 a week, 20000 a month, and 2,40000 a year. As for juice for the kids’ school lunch, a six-pack of 200ml boxed juices can cost around 4000. A six-pack a week will set you back 16000 a month, almost 2,00000 a year.



While juice is arguably healthier than cola, there is very little real fruit in it and often more sugar, to balance acidity. A cola has about nine teaspoons of sugar and fruit juice 10 – as many calories as several whole fruits, which would help you and your child feel full and provide important nutrients. (The World Health Organisation advises no more than six to 12 teaspoons of sugar a day to fight obesity and related diseases.) Dietitians agree water is by far the healthiest beverage, and it’s free.

Related article: Money goals for single moms

FAST FOOD
Even before lockdown, fast food had become more of a staple than a spoil for many South Africans, notes Linda Reid, Head of Data at Lightstone, Bryanston. We spend nearly R2-billion a month on fast food – more than 10% of discretionary spend, Reid said. How often do you indulge in takeaways, and what do you typically spend? Do the math… Then cut back, or cut it out, and get cooking! It’s generally healthier too, and long term could save you in doctors’ bills and medications.



COFFEE
Do you start your day with a bargain McDonald’s or Wimpy coffee? But this can set you back around 1500 for plain, and 2000 for fancy (cappy, latte). Even at 1500, that’s 7500 a week, 30000 a month – and a cool 3,60000 a year! There must be something you’d rather do with that cash! And you can keep instant coffee and creamer at your desk or workstation.

Related article: How to manage your money when you have a family to support