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6 Apr 2018

5 Money Saving Tips That Won't Save Your Money

It’s been said that there’s nothing like too much savings, which is true, but there are many roads claiming to lead to that destination and not all are paved with good intentions. Here’s a few tips to make sure all your shillings make cents.

1. Buy-one-get-one-free deals
5 money saving tips that won't save your money

Yes, they do seem like great ideas at first but think about it. Unless the item is something you are sure you use plenty of, such as tissue or household supplies, then maybe it might be wise to give up the deal. For clothes, shoes and large purchases keep them to a minimum. Chances are you’ll only use one of them and completely forget that you had ‘two of those.’

2. Buying the cheapest thing at the store
5 money saving tips that won't save your money

Another thing that seems likes a good idea at the onset but will make you pay down the line is buying the cheapest product on the shelf. Picture this, you want to buy a microwave but you don’t want to spend a lot of money on one, so you go for the one that costs the least. A few week down the line it breaks down. Now you have two options, to repeatedly fix all the eventual breakdowns it will have or to buy another one. If you had spent your money on a quality product in the first place you could have avoided all the fuss.

3. Not needing an online money manager
5 money saving tips that won't save your money

Every penny counts and sometimes your money can go as easily as it comes. But there’s a way to keep track of things. Why not put your money in a safe place where you can manage it, get loans, buy airtime, check balances and transfer money all in one free and convenient app? Sounds too good to be true but MCoopCash offers all this and more wrapped up neatly in one easy to use app. The app is free to download and only requires a sign up.

4. Buy in bulk

5 money saving tips that won't save your money

This is especially misleading when you are living alone. It might save you a few trips to the supermarket but rest assured that not everything you buy will be used. For perishable goods such as food this is a giant no-no because it will go bad before you get to cooking it or eating it. It’s more wasteful than it is helpful.

5. Cash over cards
5 money saving tips that won't save your money

Most of the time this does work but what if your card could actually pay you? In this case use your card and get a chance to watch the World Cup!
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