SOUTH Africans can avoid a cash crisis in 2008 by taking control of their finances and ‘shopping around’ for better deals on everything from bank accounts, credit cards and insurance, to medical aids, cellphones and even internet connection. As experts warn of a tough financial year ahead with another interest rate increase expected in January, Justmoney.co.za – South Africa’s guide to money – has unveiled a brand new list of 8 ways to save money in 08. Paul Beadle, general manager of Justmoney.co.za, explains: “These are common sense ideas to help people manage their money in 2008.

 

Consumers need to be better informed about their finances and the fees involved, so the Justmoney.co.za website is full of useful information and guides that explain how people can cut the cost of financial services products and save money.” 8 ways to save money in 08

01-Live within your budget! Use the budget planner at Justmoney.co.za to work out your regular outgoings and how much is left from your salary after all the bills have been paid – if you’re spending more than you earn, Justmoney.co.za also offers tips to help you cut your outgoings and save money

02-Cut up your store cards! Most store cards charge interest of over 30%, which is 10% more than the cheapest credit cards. Search for a credit card with a lower interest rate and transfer your store card balance to it and start saving straight away – you’ll be able to pay it off quicker as well because the repayments are lower

03-Get healthier medical aid! Medical aid premiums have increased by an average of 10% for 2008, but most people do not shop-around for a better deal. Justmoney.co.za provides you with quotes from different medical aid schemes making it easier for you to compare prices and search for more cost-effective medical cover

04-Shop-around for cheaper insurance! The cost of home and vehicle insurance premiums can vary greatly, but getting comparison quotes is hard work. At Justmoney.co.za you can complete one form and immediately receive quotes from more than eight insurers, letting you compare benefits and prices to find the best cover

05-Save, save, save! Start putting some money aside in a savings account regularly – even if it is only R100 a month it soon adds up. Save for the things you want such as furniture, clothes or even school fees. Search for the savings account with the highest interest rate for your cash

06-Stop giving the bank your money! You could save tens or even hundreds of Rands in bank charges by finding an account that is better suited to your needs. Use the Justmoney.co.za bank charges calculator to work out how much you’re currently paying and compare other accounts for a better deal

07-Take control of your debts! Don’t let you debts and loans get out of hand. Work out how much you are forking out each month in individual repayments and see if you can save money by paying them off with a personal loan, or consolidate them by rolling the smaller debts into your mortgage 08-Talk is cheaper – and internet too! Shop-around for new cellphone deals and internet connection special offers – providers usually have great deals in the New Year – and you could save yourself a bundle. You can compare cellphone and internet packages at Justmoney.co.za

 

Justmoney.co.za has been created to help South African’s save money by demystifying financial services and helping them to make informed decisions about their money.

Completely independent and unbiased, Justmoney.co.za also features a host of comparisons, tools and guides, enabling people to search and apply for new products, all online and completely free of charge.

 

For more information visit www.justmoney.co.za

Elkay House 5th Floor, 186 Loop Street Cape Town 8001 South Africa e-mail info@justmoney.co.za