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How to save when you live alone

How to save when you live alone

By André Le Roux

Bank Windhoek’s Manager for Public Relations

Living alone can both be an exciting journey and a challenging one. It gives you a sense of freedom, where you are the sole ruler of your domain, yet it is considered to be more expensive if compared with sharing with someone.

In order to maintain a certain lifestyle, one cannot escape basic living expenses such as electricity, food, entertainment and transport. All of these needs are essential and to stay afloat, it is recommended that you keep them under control by managing how much of your monthly income is spend on each of them.

Below are some of the saving tips:

Electricity and food

Switch off your geyser when it’s not in use. Hot water stays warmer for a long time when only one person uses the hot water tap. Turning on the geyser an hour before it is needed helps you save on electricity. Turn off appliances that are on stand-by.

Plan meals so that when you’re cooking, you can make extra servings to freeze. Meals that freeze well, for instance soups and stews, rice and lentils. This not only reduces the use of electricity, but the amount of time you’ll need to cook on a weekly basis. Boil six eggs at a time and keep them in the fridge. Eat snacks like popcorn, carrots, celery and make your own dipping sauce. It’s cheaper and healthier.

Keep a refrigerated bottle of water mixed with lemon and mint. It is refreshing – no need to spend money on sugary cool drinks. Buy items like cheese, milk and bread in bulk and freeze them for later use. Take a packed lunch to work instead of buying from a kiosk. Use a slow or pressure cooker when cooking. It saves time, electricity and money. Learn how to cook your favourite dishes from restaurants and take-away outlets. You’ll be surprised at how easy it is and how much healthier you can make them. Fill up your washing machine and do only full washes.

Entertainment

Choose if you need uncapped internet or a television subscription. Re-evaluate the different packages on offer. Buy products on promotions – buy one get one half price or free. Get a hobby that you can enjoy at home instead of having to go out and spend money on unbudgeted items or events.

Transport

If you own a vehicle, try filling it up early in the morning or late in the afternoon. The temperatures at these times of day influence the volume of fuel you’re able to get into your tank. If you commute using a taxi, make sure that it is budgeted for by striking an agreement with the taxi driver who lets you pay for it at the end of every month. Another good transport option is to share lifts or buy a bike and get extra exercise – it is healthy.

For those just moving into a new place, consider buying second hand furniture. It is far less expensive than buying brand new furniture and depending on where you get it, is very often in excellent condition. In terms of insuring the contents of your home, ask an insurance broker for a quote to insure the contents of your home. This is important because you have to be prepared for unknown associated risks.

Paying close attention to small tips like these could result in substantial day to day savings. When living alone, it is wise to start building and maintaining an emergency fund that you can depend on at a time when unforeseen circumstances occur, such as loss of a job or loss of income due to illness. Your emergency fund should ideally cover three to six months of your monthly expenses and should form part of your monthly savings plan. Bank Windhoek has a wide range of savings products that are tailored to meet this need and are available at any nearest Bank Windhoek Branch.


About The Author

Guest Contributor

A Guest Contributor is any of a number of experts who contribute articles and columns under their own respective names. They are regarded as authorities in their disciplines, and their work is usually published with limited editing only. They may also contribute to other publications. - Ed.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.