July is National Savings Month for South Africans. The campaign was set out by the South African Savings Institute (SASI) to improve the savings culture of all South Africans. Anyone interested in some fun money saving challenges that actually work? Join us for a weekly challenge over the month of July… You in?
With ever rising prices on just about everything we need, most of us can’t afford to save money. But we can certainly do things that might keep more ka-ching in our pockets. For the next four weeks we challenge you to try a different saving hack every week. Get ready to boost your saving skills!
Challenge 4 – Petrol saving challenge
Since the beginning of the year motorists felt the punch as petrol prices kept on rising. Petrol and Diesel prices have risen dramatically over the 6 months, leaving motorists stranded (pun intended).
(The table above is taken from Buinsiess Tech. Find the article here)
After a long beating we can finally fill up without feeling completely defeated. As of 3 July 2019 petrol and diesel prices have dropped. Petrol prices have dropped with almost R1.
- 95 Unleaded dropped with 95 cents per liter
- 93 Unleaded dropped with 96 cents per liter
- Diesel dropped with 76 cents per liter
With the price drop being in our favor, there’s no better time to start saving on fuel than right now.
Among all the petrol saving clichés, which we’ll get into, we’ve come up with a fun way that will help you save on the kilometers. The most basic way to start saving, is to stop spending. So, we’ll be saving more by driving less.
Ultimately, driving less means finding new ways of getting around. That means walking to your destination, hitch a ride with a friend or using a bike to get around.
Whatever alternative transportation you decide on using, the goal is to be more conscious about your driving habits.
Challenge accepted? Awesome!
The challenge is to only travel to destinations when they’re absolutely necessary. You don’t have to drive to the shops during lunch break, walk instead. Start walking to the shops when you need bread and milk. Ride your bike when you’re meeting with your friends in the neighbourhood.
The idea is to use your vehicle as little as possible.
We can also start saving by changing the way we drive. Here are some tips that will help you save as you drive.
The fuel consumption above and under 100km/h is very different. When you’re driving under 100km/h sudden breaking and acceleration can consume 40% more energy. When you’re driving above 100km/h keep your speed as consistent as possible. Ultimately, being a patient comes with great benefits.
Tyre pressure matters
To ensure that you’re always on top of your game, it’s recommended that you check your tyre pressure at least once a month. The lower your tyre pressure the more energy it will take the vehicle to move, which means more fuel. Make sure to follow your vehicles tyre requirements for the best results.
Keep weight low
Your vehicle is like your body; it requires more fuel the heavier it gets. For every extra 50kg you’re adding to the vehicle, is an extra 2% more fuel you’ll be using. Keep the junk out of the trunk and avoid unnecessary wastage.
Don’t drive. . . at all
For those of you who are extreme savers. If you’re serious about saving on fuel, stop driving completely. By not having a car at all you’ll be saving on car repayment, vehicle insurance, maintenance, fuel and list goes on. Compare what you’re currently paying for all of this to your public transport options. See what you’d be saving if you didn’t have a vehicle.
Keep your wallet happy
Changing the way you drive can have a positive impact on your wallet. Challenge yourself to start saving on fuel and start putting your money where it can actually grow. Let’s start getting in the habit of being a part of a savings culture.
We would love to hear how your weekly challenge went! Drop us a message on Facebook and share your success with us and others!
Pssst… Don’t forget to subscribe for our next challenge!