There are indications that interest rates will slowly increase over the next few years, while fuel price continues to climb at a steady rate, notes Ester Ochse, product head: FNB Money Management.
These two increases will have an impact on the amount you will pay for two important “needs”, housing and transport. Ochse said there are some quick tricks you can do to reduce some of the costs associated with these needs or manage the needs better.
Remember that interest rates will start increasing over the next few years, try to get used to paying the higher amount by paying extra into your bond now, a big advantage of that is that you will save on interest in the long run and get used to paying the higher amount when the rate hike happens.This is always a tough one. We are very dependent on changing fuel prices and we have seen how these have increased in the last few months.
Watch out for popping in at a corner store to get one or two things, these are normally very expensive.Electricity, Airtime and Data
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