To avoid the pitfalls of debt and credit shortfalls in 2019 South Africans should learn to manage their finances in a playful and manageable manner by getting to grips with”budget bingo”.

Pick the financial tips for the list below that apply at the appropriate moment; and before you know it, bingo – you’ll have more cash in hand, he says.

Some budget bingo savings tips:

• Stick to a shopping list;

• Avoid shopping malls where you might be tempted to spend money;

• Invest your Christmas bonus or use it for big upcoming expenses in January;

• Join a stokvel or savings club;

• Start a high interest-earning savings account early in the New Year for Christmas 2019;

• Buy in bulk or shop online to find the best bargains;

• Draw up a budget and keep track of your spending;

• Cut back on extras when you can;

• Leave your credit card at home when you go shopping – draw limited cash instead;

• Give your time instead of gifts, for instance, give someone a night of free babysitting;

• Invest in experiences rather than things: buy family tickets to a show instead of buying things;

• Sell things on Gumtree or the Facebook Marketplace for extra funds.

Article credit https://www.fin24.com/Money/Investments/budget-bingo-12-quick-savings-tips-to-kick-off-the-new-year-20190102