DebtSafe Blog

SPEND Now to SAVE Later

The 31st of October is World Savings aka World Thrift Day. This year (2018) the focus of the #WorldSavingsDay2018 initiative is to celebrate YOU and the DREAMS you are saving for (#WhatDoYouWishFor).  The DebtSafe team, therefore, wants to highlight the importance of pursuing your dreams through your savings. Plus, various savings are not only beneficial for the global economy, but your individual contribution also plays a crucial role to help uplift South Africa’s economic development.

So, what dreams do you want to make sure come true and are you saving money for currently? Know this – sometimes you have to, in actual fact, spend your money to save you money in the long run (and, to make your dreams come true of course).

“How on earth can you save while you spend?” you may ask. Well, it is all about having your bigger financial picture/perspective in mind and setting your financial dreams of tomorrow, into action today.

Here are ten (10) things that you need to invest/pay for now, to help save you money in the long-term:

Pension fund

Are you dreaming about a nice, well-deserved retirement? Your so-called superannuation may come knocking on your door quite sooner than you think. Thus, better make preparation for this type of investment and/or dream NOW to avoid major regret later. Be sure to do your homework regarding various retirement packages or annuities (especially if your current employer does not include some sort of contribution in your contract of employment).

Life insurance

Dreaming about leaving your loved ones with a well thought-out ‘financial legacy’ plan? Life is short and the unexpected can happen. Be, therefore, sure that your loved ones are ‘financially protected’ when it comes to death, funeral preparations and so forth. Also, make sure that this type of insurance includes funeral cover or else you need to make an additional plan or find a better cover.

Car/House insurance & maintenance

Never say never – spend money now to pay for your car and house insurance/cover as well as the necessary maintenance (like a separate savings account on the side) thereof.  You can set yourself off to avoid big expenses/costs when everything comes crashing down at once (like a car accident or geyser burst, for example).

Medical Aid or Hospital Plan

One of the first things you tend to think of when times get tough, is to cancel medical aid, right? Don’t make an impulsive or regretful decision like that. Medical aid, a hospital plan and/or GAP cover can really help you financially when the time comes. Rather do your homework properly and find the best suitable/affordable plan for your unique lifestyle.

Pets (sterilization and insurance)

If you are an animal lover and have ‘fur/feather babies’ of your own, do consider pet insurance and sterilizing your pet(s), to save you money when in due time you’ll need it (financially speaking).


It is a good idea to stock up on long-life products or ‘timeless’ products (like toiletries or cleaning products) when the SALE really offers a discounted price. BUT, do not over-stock and, make sure that BULK truly is a better saving option than paying for an individual/separate product.


It is a good idea to buy Birthday, wedding, baby shower or Christmas gifts throughout the year. This will help you to avoid using a big chunk of your salary for it, in the same particular month, as well as avoiding using extra credit.


Don’t wait until all your clothes are worn-out. As soon as that denim is shabby, throw it out and replace it. This will avoid your cash-flow to move into the red zone when you have to replace many items at the same time.

Children (secondary and tertiary education)

Your kids are your pride and joy, and it is just natural to want to give them a good, educated life. BUT you have to tuck money away now to be able to pay for the tours, books and fees needed in future.


Pay off serious debt first before you can start putting your #WhatDoYouWishFor saving-dreams into action. You can make use of the snowball method where you pay your lowest debt amount off first OR you can use the avalanche method where you pay your highest instalment debt off first. In worst case scenarios, when you cannot find a way to get your savings going, think about a regulated and recommended process called debt review.

#WorldSavingsDay2018 is the ideal encourager to get your savings going now to be able to make your dreams come true in the near or later future. Remember: SPEND your money ‘wisely’ to SAVE money in the long run.