Mo’ Money, Mo’ problems? It’s more like no money, more problems. Being smart with your money is easier said than done, especially as a young professional. There are always nice parties or the latest fashion items to buy. Not to mention the high cost of living. Electricity prices are up, and according to the Pietermaritzburg Economic Justice & Dignity Group (PMBEJD), the price of the average household food basket increased by R58.38 (1,1%) from R5,277.93 in March 2024 to R5 336,31 in April 2024. 💀 Cyril’s economy is not a friendly one. 

So, what can you do to save money and stop living paycheck to paycheck? We have five tips on how you can stretch your money further. 

💰 Start small

When it comes to saving money, every little bit counts. It’s a start, even if it’s just R5 or R10 a month. And who knows, it might just be the kickstart needed to get into the savings habit.

🤗 Build a community

While we may not have much, we have each other. Contact friends, family, and neighbours to share resources, skills, and support. You can find ways to make ends meet and build a better future together. For example, joining stokvels could be a wonderful way to save and feel a part of a supportive community.

📝Developing valuable skills

Although formal education may not be accessible to all in Mzansi, that doesn’t mean you can’t learn and grow. Seize the opportunity to share knowledge and skills and explore the wealth of free or low-cost resources online or in your community. For instance, Google offers free courses with certifications, opening doors to new skills and opportunities.

🆓 Find free resources

There are still some things in life that are free! Look for free resources in our community, like public libraries, parks, and community centres.

✍️ Prioritising needs over wants

We all have wants and needs. But when money is tight, you need to prioritise what’s most important. Focus on what you need to survive and thrive, and find ways to make do with what you have. For instance, instead of just deciding to go grocery shopping, make a list of the items you need. That way, you can curb overspending.

What are some of your money-saving tips? Let us know!