Useful tips for saving and banking | Western Cape Government

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Useful tips for saving and banking

(Provincial Cabinet, Western Cape Government)

  Tips for saving money

·      Arrange all your monthly payments to go off your account automatically, as debit orders. This will prevent you from forgetting anything and  then having to pay penalties and interest.

·     Place a limit on your credit card to prevent overspending.

·     Shop around and compare prices to get your products at the cheapest prices.


         Useful tips to consider when ppening bank accounts

·        Always ask the right questions, this way you can minimize your fees.

·        Before choosing bank accounts, consumers need to determine what kind of account will provide them with the services that best suits their need at the lowest cost.

·        If possible pay off your credit card accounts in full, or you will pay high rates of interest.

·        Switch bank accounts: Switching bank accounts to get a better deal is easier than you think, as Direct Debits and standing orders may often be moved by the new bank at no cost.

·        Shop around for the best policy. Do not take the first policy that comes your way. Different insurance companies offer similar benefits at different times.


  Here are a few things to bear in mind when opening a savings account

·        Check the Interest rate.

·        The way the institution calculates interest.

·        Fees.

·        Access to your money – how you can you withdraw or use it.

·        Protection such as deposit fees.



The content on this page was last updated on 12 July 2019