Sat Jan 07 2023 11:43:26 GMT+0000 (Coordinated Universal Time) - QikTruck Media
Recession times can be tough and the South African economy is feeling the strain. Governments and individuals alike need to be conscious of their finances and find ways to reduce costs.
Here are 10 tips to help South Africans cut costs and save money during a recession.
Creating a shopping list ahead of time and sticking to it is a great way to reduce food costs. Consider which meals you’re going to make for the week and only purchase ingredients for those recipes. This will help you save money by cutting out impulse buys. Also, compare prices from different stores in order to find the best deals.
Take advantage of bulk buying discounts and save even more money. If you purchase items that have a long shelf life, like canned goods or toilet paper, in bulk you can save a lot of money and even have enough left over to share with friends, family or neighbours in need.
This might sound obvious, but ask yourself honestly: do you really need to spend money on those expensive restaurant meals and latte coffees? Try to make more meals at home, and if you’re feeling extra thrifty, even take out leftovers from the previous night's dinner for lunch the next day.
Sometimes there are some expenses that you can’t avoid, like rent or transportation. However, you can always look for alternatives. For instance, carpooling instead of using public transportation can save money. Other options include trying to negotiate a lower rent with your landlord, or considering a less expensive neighbourhood for your new home.
If you’re looking for an easier way to make cost-saving decisions, digital financial tools can help by providing insights and recommendations. From budgeting tools to cashback services, you can take advantage of a host of digitised services to reduce costs automatically.
Solar energy is proving to be a cost-efficient way to reduce expenses. Since it is renewable energy, it costs much less to maintain and does not depend on any external factors, such as the current condition of the economy. With solar energy, electricity bills can be reduced significantly. In some cases, electricity bills can even be reduced to zero when solar is combined with energy storage.
When shopping, coupons are a great way to decrease your costs. Take advantage of online coupons and discounts when shopping online, or check out weekly flyers to find discounts in-store. There are many deals and discounts out there, you just need to find them.
Holidays are a great way to celebrate with family, but they can be costly. There are smarter ways to cut back on holiday expenses without sacrificing on the joy and togetherness. Consider home-made decorations instead of store bought ones, opt for a potluck style meal where everyone brings a dish, or do a rotating Secret Santa instead of buying gifts for everyone.
Whether you’re shopping online or at a local store, don’t shy away from negotiating prices. If the item you’re buying is expensive, trying negotiating with the retailer or salesperson. You may be able to get a discount or a free add-on if you ask.
Gas prices are increasing all the time, and transportation costs are no joke. One cost-saving alternative is to rely more on public transportation where available. This not only reduces your fuel costs but also gives you some extra time to relax and even read a book without the need to drive. For those in bigger cities, cycling or walking can be great alternatives to using a car - cheaper and healthier too!
A recession doesn’t mean that businesses have to suffer due to high transportation costs. QikTruck is an on-demand truck and driver hire service that helps businesses save money on their transportation needs. By connecting direct with local truck providers, businesses can save up to 40% compared to a traditional transport provider.
QikTruck's services are available in over 25 locations and businesses can book online in no time. South African businesses can benefit from QikTruck's cost-efficient and time-saving services, helping business owners save money, reduce emissions and improve sustainability with one simple technology platform.
QikTruck allows users to select the type and size of the vehicle for the haul, monitor their transport in real-time, and even track current road legislation and safety regulations. When your goods are in transit, you’ll be able to see the exact status, location and estimated time of delivery - all on QikTruck's online dashboard.
QikTruck's driver search tools also make it easier to source drivers of all types, eliminating the need to do any manual searching and hiring - a pain point that slows down most businesses.
Businesses can capitalize on the savings they make during the recession times and use QikTruck to deliver goods safely and cost-efficiently.
It’s important to keep your costs in check during a recession. By following the tips outlined in this article, South African businesses and individuals can make sure they keep their expenses down and save as much money as possible.
And remember, QikTruck is here to provide a cost-efficient solution for goods transportation during recession times. With real-time road regulations, safety regulations and discounts of up to 40% - what’s not to love?