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The 5 Saving Tips No-One Ever Tells You

The best tips for saving are the ones that people don't tell you. These are money-saving tips that hopefully large companies won't understand so they can continue to make money from you. You can visit http://thefinancebridge.com/ to know more tips on savings.

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  1. Use your home equity loan to buy your car instead of signing a purchase or rental agreement. On average, you saved R 20,000 in 56 months. Yes. You can negotiate a vehicle if you pay cash!

  2. Evaluate your insurance annually. I mean every year. Insurance companies don't reduce your premiums, they increase them every year, but they intend to pay less each year because of the depreciating book value of your vehicle.

  3. Check your checking account. Do you pay high fines for withdrawing money from other bank ATMs? When you withdraw money from an ATM at your own bank, reduce your fees from R 30 to R 3! Are you still writing high-fee checks? Switch to internet banking and save between 20% and 80% on your bank fees. 

  4. Does your checking account pay interest on your balance? Most don't! Open a savings account and pay your salary or sacrifice interest of between 0.5% and 7% (available at CAPITEC Bank) on your positive balance while saving it. Checking accounts are useless if you don't write checks and internet banking and debit cards make this a reality. 

  5. Reduce your electricity bill by up to 50%. Turn off your geyser every day (06.00 – 21.00) and shower in the morning. If you have timers try it, most don't turn off the geyser during that time and during peak hours you'll pay for the maximum request. Find "vampire electronics" and turn it off.