Friday, March 31, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Botswana’s women boxing on the rise 

    Boxers Finally Receive their Prize Money from 2022 African Championships

    Darts Expects Only P50K from BNSC for 2023/24

    Darts Expects Only P50K from BNSC for 2023/24

    Botswana athletes to train in USA

    Botswana athletes to train in USA

    Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

    Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

    Boxers yet to Receive Prizes from 2022 African Boxing Championships 

    Boxers yet to Receive Prizes from 2022 African Boxing Championships 

    April will see 2nd Instalment of Summer Kids Marathon

    April will see 2nd Instalment of Summer Kids Marathon

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Botswana’s women boxing on the rise 

      Boxers Finally Receive their Prize Money from 2022 African Championships

      Darts Expects Only P50K from BNSC for 2023/24

      Darts Expects Only P50K from BNSC for 2023/24

      Botswana athletes to train in USA

      Botswana athletes to train in USA

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      April will see 2nd Instalment of Summer Kids Marathon

      April will see 2nd Instalment of Summer Kids Marathon

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home Columns On the money

      Always find an Excuse to save first!

      Think about tomorrow and what you would like to save for

      mm by Old Mutual
      June 22, 2022
      in On the money
      Reading Time: 3 mins read
      0
      Always find an Excuse to save first!
      Share on FacebookShare on Twitter

      Times are tough with inflation hitting at our doorsteps. The lack of jobs and ongoing market challenges add pressure to our already squeezed wallets.

      A lot of Batswana find themselves in unfavourable financial situations. Even so, it is very encouraging that most Batswana continue to persevere in their effort to achieve financial freedom. Now more than ever, it is important to save. I found this out recently when my 6-year-old son asked me how much I have in my savings account because he wanted me to buy him a bicycle. Kids!

      Below are some of my famous saving tips that have always helped me put money back in my pocket.

      SAVINGS TIPS

      • Make savings fun – Pranks are not just a fun thing to do with family. You can make saving a fun activity with your family or friends to see who can keep their savings the longest.
      • Save on fees and charges – Next time you receive your bank statement or even make an online payment. Take time to check the current bank fees by your bank. In terms of insurance, make sure you read your policy renewal document to study some of the charges associated with your policy, e.g. excess in the event of a claim on your assets.
      • Stop buying convenience food – One of the reasons I always advise people to eat at home is not just because you have do not have some money but because you actually know what you put in your food.
      • Buy only what you need – Try to plan and only buy food for your needs. This will prevent wastage.
      • Buy in bulk – Take advantage of bulk offers to save on goods that have a long shelf-life.
      • Take leftovers for lunch – When cooking meals, ensure that you take the leftovers for lunch the next day. This will prevent you from spending unnecessarily.
      • Make a shopping list – A shopping list before leaving home for the shops is very important to manage in your spending. This way, you only get what you need and maintain more discipline. Remember also not to leave home on an empty stomach as you tend to buy more.
      • Give alternative gifts – DIY projects are not just for the home but can be used as gifts. Remember, it is the thought that counts, so something handmade could be more appreciated.
      • Compare prices – Use apps such as Price Mate to compare prices before going out shopping. Alternatively, most stores have Facebook pages where you can to check best deals.
      • Familiarise yourself with seasonal sales – Avoid chasing after sales. Important question to consider: do I need this item? Can I survive without it? It might be you already have five pairs of boots and you just want a different colour. If it is a purchase, you can survive without and I advise you reconsider.
      • Delay gratification – Rewarding yourself is important. However, you do not need to reward yourself every weekend. Plan in advance to reward yourself when you do have some extra cash in hand.
      • Save on utility costs – Switch off the lights or appliances, such as your geyser, that are not in use. Replace light bulbs and appliances with energy efficient ones. A friend of mine recently told me he has the geyser on 24 hrs. Personally, I would advise you save by switching on your geyser 2 hours before you need it.
      • Cell phone and television packages – Regularly review your cell phone and television packages to ensure that they still meet your needs and update it if necessary.

      Saving should not only be for emergencies. To ensure a better life for yourself and your family in the future, you have to take advantage of every opportunity to save. Think about tomorrow and what you would like to save for. These are your targeted savings, whether it is to save for your child’s education, retirement or a holiday. It is never too late to start making healthier financial habits.


      Article by Kagiso Wamakhubu, Business Development Manager – SMME – Old Mutual Life

      Feedback and comments can be relayed to marketing@oldmutual.co.bw

      Navigation

      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • March 30th Edition
      • The botched ‘rip off’
      • Grit cashes P200m from Letlole
      • March 24th Edition
      • March 17th Edition

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?