How to Save Money in South Africa in 2021

How to Save Money in South Africa in 2021
How to Save Money in South Africa

In 2021, South Africans will face some difficult times. With the lockdowns and financial difficulties that were associated with the pandemic’s onset, 2020 was a difficult year for South Africans. We welcomed 2021 as a new beginning. This year, however, brought a third wave to the coronavirus. It has already exceeded all previous records for daily deaths and cases.

Unfortunately, South Africans started a violent rebellion against their country as they dealt with the lockdown. Some looting and rioting took place in Gauteng, KwaZulu-Natal, and Gauteng. Many people lost their lives, stock was stolen and businesses were set on fire. Many people were also hit financially by this.

In these difficult times, almost everyone agrees that they should spend less and save more.

It can seem difficult to save money, especially in these difficult economic times. However, there are simple steps you can follow to help make saving for the future easier. This newsletter will cover the top 10 ways to save money in South Africa by 2021.


This is the best way to save money. When you receive your wage or salary, you must first pay yourself. Save 10% of your earnings before taxes

You will find that you are able to think of your savings as a regular bill and will start to invest regularly. Soon, you will have an emergency fund or nest.

It is possible to automate the process by setting up a direct deduction so that money is automatically paid into your savings account at the beginning of each month.


Reality kicks in when you do this. You will soon realize that you have options to make adjustments in order to improve your financial management. You will likely pay less if you carefully monitor where your money is spent.

To determine your spending habits, start by calculating how much you spend each day. Next, analyse your debit orders and take note of your daily spending. Next, determine which expenses are necessary (necessary), and which are luxury or wants. Your needs should always come first. You can spend the extra money you have after meeting all your financial obligations and saving a certain amount.


After you have analyzed all your debit orders, put aside any debits or expenses related to insurance policies, hospitalization, or bank fees. These expenses can be reviewed annually and you could save thousands of rands.

You should not cancel certain policies, but you must have them. These include your life insurance, your medical aid, and your retirement plan. These policies should not be cancelled. Instead, investigate the rates you are paying and talk to your financial advisor about more affordable rates or options that fit your budget . For advice specific to your needs, you can reach out to Wallstreet Financial Services to speak with a professional financial planner.


Think about the amount of money you have spent on your cellphone account in terms of data, airtime, minutes and so forth before you make your next call. Check to see if you’re on the right plan/package. Do you spend too much airtime on your plan or have you got enough minutes/data left at the end?

You could save hundreds of dollars a month by reducing an expensive and unnecessary mobile contract. You should also be smart about your data usage. You can turn off background apps that are stealing data or get rid of them.


Regular maintenance will ensure your car lasts for many years and help you avoid major repairs in the future.

South Africans currently spend more on petrol than any other nation. You should ensure that your car is maintained regularly, but also keep an eye on how you can reduce your fuel consumption. You can cut down on petrol costs by:

  • To reduce the number of trips, plan your routes in advance and combine your tasks.
  • Make sure your car is serviced at the recommended times.
  • Check your wheel alignment and tire pressure regularly.
  • To reduce drag, close your windows while driving.
  • If you want to decrease wind resistance, keep your speed down.
  • Your air conditioner should be used sparingly.