<!-- wp:paragraph -->

<p><strong>By: Momentum Multiply</strong></p>

<!-- /wp:paragraph -->

<!-- wp:heading {"level":3} -->

<h3><em><strong>When budgeting, it is best to look for options that present either the maximum return on investment or one that offers the greatest reward – and with Momentum Multiply you can have both.</strong> </em></h3>

<!-- /wp:heading -->

<!-- wp:paragraph -->

<p>Given the current economic climate, many South African’s are struggling to make ends meet and some are relying on cashbacks from rewards programmes to multiply their money. It takes careful planning and budgeting to ensure that the monthly incomes of families stretch to include all their household expenses.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>According to the Momentum 2018 Household Financial Wellness Index, household income and living conditions scores dipped compared to 2017 results, indicating increasingly strenuous cash flow pressures that the average household had to contend with.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>Compiling an accurate view of household expenses teaches members of the family not only the value of money but also the important role that a concise budget can play in the financial success of the household.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>“Budgeting is essentially a spending plan for the family. Even though the majority of us cannot afford to spend money on everything we want and need, it is important to prioritise our spending to focus on essentials such as insurance, paying off a mortgage or saving for educational needs,” explains Johan Kleu, Executive Head of Momentum Multiply. “In navigating the tough economic times, consumers should not cut down on essentials if there are innovative options to make their money go further.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p><strong>Kleu shares budget tips to help you make your budget go further with cashbacks: </strong></p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p><strong>Shop for cashbacks</strong></p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>Be financially savvy and purchase from retailers that offer cashback rewards, and in the financial services industry, this could be short-term, life and health insurance. By making use of rewards programmes, you can receive a percentage of your spend back in cashbacks and be able to earn a competitive interest rate from the get-go.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p><strong>Plan in advance</strong></p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>Compile a realistic budget, as it will allow you and your family to forecast expenditure, and help with longer term financial planning. This ultimately allows you to make realistic assumptions about your income and expenses and plan for future financial goals. Moreover, by selecting an insurer that is linked to a rewards programme, you can afford to cover more of your insurance needs or increase your cover with the cashbacks or discounts you earn.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>For example, Momentum Multiply members who are on gold status, and with good health and fitness level save 25% on their life insurance premiums, equalling R250 per month on a monthly premium of R1 000.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p><strong>Use the loyalty card</strong></p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>Further, it’s important to always make use of the rewards card when you shop in order to accumulate the benefits and cashback points associated with it. By shopping at retail partners such as Clicks, Makro, Pick n Pay, and Dis-Chem for example, the cashbacks received can be a welcome addition to cover some of the monthly expenses in your budget.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p><strong>Save for emergencies</strong></p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>Although the temptation is there in making use of these cashback rewards when they are available, it is advisable to instead save these for when budgets are constrained, or for saving for important items that are often too expensive for a once-off payment.</p>

<!-- /wp:paragraph -->

<!-- wp:paragraph -->

<p>“So, when looking to budget correctly, it’s important to look for options that offer the most rewards. These cashbacks can make household budgets stretch even further, allowing families to save more and do more,” concludes Kleu.</p>

<!-- /wp:paragraph -->