Living in today’s time of economic recession, it is common for even the most fiscally secure South Africa households to fear an economic downfall. The increase in prices of consumer goods and general expenses adds to South Africans worries. In such a scenario, it is essential to ensure that your expenses are controlled and that you save money, wherever possible. In this article, we explore some of the simple tips and tricks that can help South Africans to save their hard-earned money in the time of recession.
Tips for Saving Money in a Recession – The South African Context
Make Use of Discounts and Deals
This is one of the most obvious tips for saving money in any kind of economy. There are so many discounts, coupons, loyalty programs and other types of deals available on the market, which can effectively reduce the price of a purchase. Additionally, South Africans may want to consider investing in various loyalty programs, if they want to save their money in a recession. Stores like Pick n Pay, Woolworths and Checkers allow their customers to build up points that they can redeem later.
Bookmark Offers
South Africans can save money if they are willing to do a little bit of research. It’s worth bookmarking websites and scouring the web for discounts and deals. Many websites such as Groupon, Junk Mail and OLX are a great source of discounts on everyday items. It is also recommended to keep an eye on social media platforms, such as Twitter and Facebook, as well as online forums, for daily deals.
Shop for Basic Necessities on Sale
One of the best ways to save money is to buy basic necessities on sale. South African consumers need to keep a keen eye out for discounted items, and stock up when it is possible. Once you are used to watching out for sale items and it becomes a more instinctive behaviour when shopping. There are many online platforms, where South Africans can buy items that may not be available in stores at a discount.
Find Cheaper Alternatives
The current state of the economy means that South Africans have to be diligent in finding cheaper alternatives to their requirements. Consider alternatives to the things that you normally buy — for instance, making meals at home rather than eating out, investing in generic brands, online shopping instead of traditional shopping, and so on.
Multi-Buy Specials
This is a great way for South Africans to save money, as most stores have specials on buying multiple items in one go. Store brands also often offer discounts on bulk items, providing customers with cheaper alternatives to their needs. This is an ideal way to ensure that South Africans can save money while buying items they need.
Live within Your Means
Many South African households are forced to live above their means, which can lead to an economic decline and debt accumulation. Living within your means is the best way to ensure that bills are paid on time and that there is enough money saved up for emergencies. South Africans must ensure that they do not overspend and continue to save money, in order to prepare for a recession.
Utilise Transportation Savings
In times of recession, South African households often have to cut back on transportation costs. QikTruck, an on-demand truck and driver hire service, can help South Africans save money in times of recession. People can move goods affordably and quickly whether for business or for personal use. By availing the services of QikTruck, South Africans can save time, money and effort in times of a recession.
Bottom Line
Living through a recession can be a trying time. In order to save money, South Africans should follow the above-mentioned tips and tricks. Furthermore, there are various services like QikTruck that can help South Africans save money, in times of a recession. QikTruck is an on-demand truck and driver hire service and can be used to save money in times of economic recession. The company provides South Africans with the highest quality of service, at competitive prices to ensure that they can save money, regardless of the state of the economy.
