fbpx

Stretching your rand as lockdown continues

Share on facebook
Share on twitter
Share on linkedin
Share on email

South Africa’s lockdown has resulted in financial stress for many of us. Even now, when we have survived the first two months and lockdown has been eased to Level 3, most of us are under pressure to stretch our rand.

Here are some ways to make your money go further:

It’s time to sweat the small stuff
Get the family together and go through all your bank accounts. Check for prepaid phone accounts, gym memberships you’re not using, and store accounts. Get rid of anything that’s not essential. It may not be much, but it’s a good place to start, and it will make a difference.

Be creative
Look at ways to supplement your income. Got fabric stashed in a cupboard to use ‘one day’? Consider turning it into face masks and selling it for a nominal fee – you will still make a 100% profit. Make other things to sell depending on your skills and talents – perhaps you enjoy woodwork, crafts or baking.

You can also sell unwanted items online. Lots of us have things cluttering up the house that we don’t use, but which may be of value to someone else. Your community may have a Facebook site for this purpose, making it easier and safer to close the deal.

Make the most of your rewards points
Don’t let your rewards go to waste – whether it’s on credit card rewards or consumer loyalty cards, redeem what you’re due. Take the time to figure out how each system works and make the most of it.

Take relief wherever it’s available
You can claim income from the Unemployment Insurance Fund if you or your company have been contributing. Your employer can also claim from the Temporary Employer/Employee Relief Scheme if they have lost revenue due to lockdown. Talk to your bank and landlord about payment holidays and reduced payments.

Stick to essential shopping
We’ve got used to only buying what we really need, which is an opportunity to review our spending habits. Now that retail has opened up, stick to these habits and avoid impulse spending and all those little luxuries you’ve discovered you can live without.

Shop around
Check out any specials and plan around them. Buy in bulk – after first checking that the price per kilo or per litre really is cheaper. Look for bargains – these may even come in the form of substantial discounts on significant purchases like home appliances.

Ask for help
Don’t be reluctant to ask for help. Talking to your financial adviser or a debt counsellor can give you a better chance of taking control of your finances during these tough times.

When you look closely at your finances, there’s a good chance you will find a number of seemingly insignificant costs that, when you add them up, can make a difference in helping you stretch your rand.

For more information and assistance, download the Nedbank MoneyTM or Greenbacks apps, or visit www.nedbank.co.za.

1+

Related content

5 August 2020
The Lockdown Bozza app: A lesson in what we can do remotely by working together
3 August 2020
Affordable home makeover tips
3 August 2020
Reflecting on 100 days of lockdown
30 July 2020
Are you cut out to be an entrepreneur?
28 July 2020
Ways to foster a strong company culture while working remotely
28 July 2020
Important: create stress-free time with your partner
22 July 2020
How remote working could improve your job prospects
22 July 2020
How YOU can help animal welfare organisations threatened by the pandemic
17 July 2020
Cashflow is king in Alert Level 3
17 July 2020
Stretching your rand as lockdown continues
16 July 2020
How to stay safe on public transport
16 July 2020
Recovering from the Coronavirus
15 July 2020
Tips to make home more work-friendly
15 July 2020
How #WFH could change how we live
14 July 2020
3 Ways to get money-savvy with Covid-19 savings
14 July 2020
Banking reimagined in a post-COVID world
14 July 2020
Four ways to support local businesses
10 July 2020
Tips on balancing remote work while home schooling your kids
9 July 2020
Rethinking your next holiday, post Covid-19 – an affordable way to boost SA’s economy
9 July 2020
5 ways to calm your mind in stressful times
8 July 2020
8 Low-maintenance pets for our Covid-19 world
7 July 2020
Online learning, lockdown and special-needs kids
7 July 2020
How will boarding schools adhere to social distancing?
7 July 2020
Three ways to make lower interest rates work for you
7 July 2020
Eight things you can do with R500 per month
2 July 2020
Using the ‘Envelope System’ to stick to your lockdown budget
2 July 2020
Get your hands dirty: Three steps to growing your own food
1 July 2020
Back to school for some, but what about the amaKhumbi driver?
30 June 2020
10 tips to get you through your DIY manicure
30 June 2020
What to expect when you return to work
29 June 2020
Level 3: where normal meets the abnormal
29 June 2020
What impact will 5G have on businesses?
25 June 2020
What’s the future of gyms?
25 June 2020
Will your childcare centre survive lockdown?
24 June 2020
Deciphering the emergency budget
23 June 2020
What Covid-19 teaches us about fighting online fraud
23 June 2020
Make your own mask – with or without sewing
22 June 2020
SA has enough food, but what about the most vulnerable?
19 June 2020
Is now a good time to buy or sell a house?
19 June 2020
Are there any positives to the Coronavirus?
19 June 2020
Four customer retention tips during lockdown
17 June 2020
Rebounding after lockdown: Which sectors are in a strong position to thrive?
17 June 2020
Five digital marketing ideas to try today
16 June 2020
Youth Day 2020: SA pop culture outplays pandemic
15 June 2020
Sensible Covid-19 investment strategies
15 June 2020
Is lockdown a good time to take on debt for personal goals?
12 June 2020
A guide to small business relief and support
12 June 2020
Nine tips to improve your financial management
12 June 2020
Protect your income during the pandemic
11 June 2020
Remote work is working for some businesses: What does it mean for them post-lockdown?
11 June 2020
How can retailers bounce back after lockdown?
8 June 2020
Coping strategies for small-business owners
8 June 2020
Budgeting better with lessons from lockdown
5 June 2020
Will shopping malls survive the extended lockdown?
5 June 2020
If lending is the only way to stay afloat, what’s the best loan for you?
4 June 2020
Five Factors That Influence Financial Health
4 June 2020
How restaurateurs can weather the Covid-19 storm
27 May 2020
Crowdfunding with a local-is-lekker-flavour
27 May 2020
Matric in the Year of Coronavirus
26 May 2020
Five ways to use your time at home constructively during lockdown
26 May 2020
How are universities coping with Covid-19?
25 May 2020
Can coronavirus be transferred via cellphones
25 May 2020
Six steps to better stock control and improve cash flow
25 May 2020
Five ways customer service is going to change
25 May 2020
Improve your productivity while working from home
24 May 2020
Level 3 for most of Joburg, but still restricted
24 May 2020
Alert Level 3: Joburg starts opening up for business!
21 May 2020
Six ways to help staff you’ve had to let go
21 May 2020
Imports and exports – Playing the long-game during Covid-19
20 May 2020
Covid-19 is bringing out the kindness of people
20 May 2020
The impact of COVID-19 on travel and tourism
20 May 2020
What is the future of work after Covid-19?
19 May 2020
Has Covid-19 put the brakes on climate change?
19 May 2020
What are the chances of civil unrest during lockdown?
19 May 2020
Now is the time to stay strong and focused
15 May 2020
How is Covid-19 affecting sport and the future thereof?
15 May 2020
How to negotiate better deals in seven easy steps
15 May 2020
Can Covid-19 be transferred through bank cards?
14 May 2020
How to manage your credit card debt in the Covid-19 crisis
14 May 2020
Saving for your kids’ education in challenging times
14 May 2020
Will I still be able to get credit during the lockdown?
13 May 2020
Use interest rate cuts to pay off debt and save money
13 May 2020
Is now a good time to invest?
13 May 2020
How to get the same for less – Making sacrifices while maintaining your lifestyle
13 May 2020
Don’t wait any longer to cut non-essentials
13 May 2020
Should I cut my insurance to save money?
13 May 2020
I am worried about my debt during Covid-19. What should I do?
13 May 2020
Three steps to avoiding a cash crunch (and debt)
13 May 2020
Use lockdown as an opportunity to switch from a spendthrift to budget-wise mindset

This website uses cookies to ensure you get the best experience on our website.