As you must know by now, President Ramaphosa has announced a nationwide lockdown as a measure to combat the spread of COVID-19. In his address on Monday, 23 March 2020, the president discouraged stock-piling and panic-buying, reassuring South Africans that there are plans in place to make sure the supply of necessities remains consistent.
Here are a few ways you can spend smarter and save more during this period.
Because most people will be working from home and staying indoors, they’ll probably spend less on daily expenses like fuel since there is no regular commute to work. Those belonging to gyms that have implemented a freeze on their premiums until the lockdown is over will also spend less on gym fees.
Use that money to boost your savings. If you already have the Multiply Money app, deposit the money directly into your Multiply Money payment wallet and transfer it to your savings wallet to earn interest on it.
- Buy only the things you need and use to avoid overspending.
- Jot down a list of things you need before going to the shops, and stick to it.
- Plan your meals and note all the ingredients you need to make sure you buy what you need.
Think twice about credit
Avoid taking up credit to panic-buy or stock-pile. Remember that you will have to pay back the money at some point – and at that point, you will have an extra amount to pay from your budget that you had not planned for in the first place.
Be kind to the less fortunate
If you know of people whose income may be at risk due to this lockdown, share what you can with them. Sure, this won’t give you more money, but it is a kind gesture that goes a long way.
You might also want to read this post about staying focused on your fitness goals even when you’re working from home.