Inflation is ticking up. The South African Reserve Bank has kept rates stable, but indicated it’ll soon starting hiking.
The rand is weak, prices are rising and Eskom will soon hammer us with huge increases.
We interviewed Warren Ingram, Financial Advisor at Galileo Capital, about what to do if your salary isn’t keeping up with inflation.
Scroll down to listen to audio.
You have to take control! How do you adjust your spending without dramatically changing your lifestyle? Cutting your insurance is really dumb. It’s the same with medical aid. It’s not the way to save money.— Warren Ingram, Galileo Capital Financial Advisor
I’m a coffee addict. But I never buy it at a fancy coffee shop. Why not just make great coffee? Buying coffee at a coffee shop 20 times a month equals real money!— Warren Ingram, Galileo Capital Financial Advisor
Stop buying lunch every day. Why not make a batch of lunches and freeze them? Again, a month of this and you’re saving real money. The same applies to restaurant meals and takeaways.— Warren Ingram, Galileo Capital Financial Advisor
Spend your money as if your costs went up by R1000 already.— Warren Ingram, Galileo Capital Financial Advisor
This article first appeared on 702 : Salary not keeping up with inflation? Here’s what to do…