In these days of the fearsome liquidity crunch that everyone talks about in hushed tones, every dollar counts. Getting your money’s worth is more important than ever. As they say, if you take care of your money, it’ll take care of you. And the opposite is true too! Accordingly, this installment of Financial View looks at some practical tips on how you can stretch the value of your money.
Open a Mobile Banking Account: The banking public is now spoilt for choice as far as mobile banking services are concerned. Mobile banking options include EcoCash, Telecash, One Wallet, Mobile Moola and TextaCash, all of which can be used to pay utility and various other bills from anywhere you are. Operating a mobile banking account can save you several trips to the dreaded Municipal or ZETDC banking hall, saving both time and money. These days, I don’t have to go the bank to renew my DSTV or newspaper subscriptions – I simply EcoCash from the comfort of my office or home without a visit to Kuwait (queue and wait!)
Register for the Online/Internet Banking service: If you are one of those who must use a bank no matter what and don’t yet trust these Johnny-come-lately non-bank players and their fancy ways of making payments, at least register for online or internet banking, which most banks offer. Accessing banking services online saves you trips to the bank when you want to check your balance, get a statement or even make payments.
Read Harare News: Keeping up to speed with what’s happening around you is critical because it helps you to identify opportunities and take advantage of them. And if you can do this for free, then why not? Look out for special deals and keep an eye on events to make sure you avoid getting swindled when you spend.
Trap Rain Water: Investing in basic equipment to trap rainwater will save you time and money even when your municipal water is on. We recently spent a week without water in my neighborhood and had to resort to getting water from a few unusual places such as church and the kids’ school. As luck would have it however, there was rainfall during that time and trapped rainwater certainly helped to save the day. The results of trapping rainwater can show up in our bottom line in quite pleasant ways.
Think Before You Spend: Create a spending plan/budget and sleep on it a number of times in order to ensure that you have prioritised your spending correctly. I have often realised that what appears to be a high priority today is not necessarily one tomorrow.