Skip to main content

11 reasons you are struggling to save money

There are many reasons  people struggle with saving money. Many factors that we are sometimes are unaware of. In this article we will discuss some of these reasons.  11 reasons you are struggling to save money 1.Cost of living It would be an injustice to talk about saving money without acknowledging the cost of living. The inflation rate keeps rising which means prices are hiking while our income remains the same.  High costs of living, such as housing, healthcare, and education, leave little room for saving after meeting essential needs. 2. You don't Budget (or stick to it) A budget is to your finances what water is to your body. You might survive a day or two without it but in a long term you will feel the effects. Without a clear budget, it's challenging to track income, expenses, and savings. Overspending becomes common, making it difficult to save 3. You live beyond your means Spending more than you earn will leave you with nothing to save.  Spending more than w...

8 Easy to start side hustles in South Africa

 08 side hustles you can do in South Africa in 2022 to earn extra income

With the standard of living continuously increasing in South Africa and the unemployment rate skyrocketing, it is not shocking that most of us are looking for alternative ways to earn income. 


1. Freelancing

There is a huge market for freelancers on the web. Ranging from freelance writers, web developers, social media managers, virtual assistants, etc. You can use your skills and knowledge to earn income online without being permanently employed as a norm.


Platforms such as Fiverr, Upwork, and freelance.com offers you a chance to meet international customers. These platforms are easy to use and free too, so you do not need start-up capital. 


 2. Uber or Bolt Driver

Do you have a car and a few minutes (or hours) a day or on weekends to spare? You can create another stream of income by becoming a driver for Bolt and Uber. You can create your own schedule and choose how long you will be driving. 


3. Tutoring

You can offer extra classes to learners in your community or online. You can choose your favourite subject and help others achieve good marks in it. 


You can also tutor online.

4. Aftercare provider

The average parent in South Africa works from 08:00am to 05:00pm. Include the commute, then you have parents that get home after six in the evening. An average school in South Africa knocks off at 15:00.


This means there is a 3hr window where children will need a person that takes care of them. An aftercare provider helps kids with homework and keeps them busy while keeping them safe. A lot of parents are willing to pay for an aftercare provider.

5. Start a blog

Do you have something you're passionate about and would spend hours talking about given a chance? 


Start a blog and share it all. You can make money by blogging and creating content. You can blog about anything from healthcare, fitness, fashion, finances, and food, to pool pumps, cars, engineering, etc. You get the idea. You can choose your niche(topic) and create your own schedule. 


Starting a blog is free with sites like WordPress.com, Wix, Blogger, and Weebly. You can make money through Google Adsense and affiliate marketing (can be paid a portion of the money for products bought through your promotion).


Blogging is a slow game and it might take you time to make a substantial amount but it is worth it. It is also dependent on your readership so the more people read your blog, the more money you make.


6. Rent out parts of your home

If you have parts of your home that you rarely use or do not really need, you can money by renting them out. 


Rent income is great because it is consistent and you can plan around it.


  7. Start an online business

Start a Solution-Focused Business. A new stream of income won't hurt. Try to create a new stream of income. A solution-based business is the way to go. How can you help the people around you? Which gap can you identify and fill? 


We live in a digitally connected world. Maybe your client base is not people around you but someone from a different sphere. Think of how you can make their lives a little bit easier 

You can also sell digital products such as planners, journals, and pictures. You can create your digital store with Etsy. This is also a long play so if you're looking to make quick bucks then you might consider other ideas from this list.


8. Turn your commute into cash

Do you drive to work? Consider carpooling and a lift club. You will have a passenger or two who are going in the same direction or area as you. 


You are already going there so why not get paid too. You will get enough to cover fuel and maybe a few extra bucks. 


Final Thoughts

Having multiple streams of income is a gateway to financial freedom. While most of these hustles might not make you a millionaire, they will create comfort for you.


What to read next: How to live on low income



Popular posts from this blog

Financial Planning? All you need to know about 401k

We are always encouraged to plan for the future. Have a retirement plan. But more often than not, people rarely ever explain what a retirement plan is. How to go about it and what options you have. In this issue, we will dive deep into the good, the bad, and the ugly about retirement plans. We will mainly focus on the most common one, 401(k). What is a 401(k)? A 401k is an employer-sponsored retirement plan. It is named after section 401(k) of the U.S  Internal Revenue Code. The employee agrees to contribute a certain percentage of their salary to an investment account for retirement. Employers may match some or all of the amount.  This is a great investment vehicle for ordinary folks who work a 9-5. It is designed to encourage the working class to save and prepare for their retirement. There are primarily two types of IRA; the traditional 401(K) and ROTH 401(k). The main difference is that the traditional 401(k) is made pre-tax and therefore reduces the taxable income and the...
Read more

5 Effective Ways to Save on Petrol

  As drivers face steady petrol and diesel cost expands, it's essential to find ways of saving a couple of litres of fuel as the cost of living in South Africa stay raised. South African drivers were hit with another monetary thump this month and are presently paying nearly R23 per litre to top off their vehicles as of 2 August, with the expense of diesel and petroleum moving by around R0.71/72 and R0.37 per litre, separately. The expense of fuel is still underneath R25 per litre however is as yet drifting great above R20 per litre. The individuals who use petroleum will get just about one litre less per tank contrasted with last month, while diesel clients can expect almost two litres less - contingent upon the size of their tank.  Inland 95 octane petroleum and Diesel 0.005% expense R22.83/l and R20.52/l, separately, while at the coast, it costs R22.11/l and R19.81/l, figuring in the record demand and different expenses. Despite the fact that fuel costs have diminished contr...
Read more

11 reasons you are struggling to save money

There are many reasons  people struggle with saving money. Many factors that we are sometimes are unaware of. In this article we will discuss some of these reasons.  11 reasons you are struggling to save money 1.Cost of living It would be an injustice to talk about saving money without acknowledging the cost of living. The inflation rate keeps rising which means prices are hiking while our income remains the same.  High costs of living, such as housing, healthcare, and education, leave little room for saving after meeting essential needs. 2. You don't Budget (or stick to it) A budget is to your finances what water is to your body. You might survive a day or two without it but in a long term you will feel the effects. Without a clear budget, it's challenging to track income, expenses, and savings. Overspending becomes common, making it difficult to save 3. You live beyond your means Spending more than you earn will leave you with nothing to save.  Spending more than w...
Read more