In our cash-strapped society, which is now also experiencing a technical recession, South Africans are constantly looking for smarter ways to save and spend. With the pressure mounting to get more for less, consumers are becoming increasingly wary of their spending and saving habits.


At bsmart, we put the power back in the hands of our members, by paying out cashback bonuses every year. While we are firm in our belief that you can – and should – spend your cashback bonus any way you want to, here are six sensible suggestions for how you can use your cashback payout.


  1. Look to the future. What’s your two, five or 10 year plan? Take the money that you get and start saving it for that new TV you want, the car you’ll need, or your child’s university fund. Every little bit helps.


  1. Invest in education. Have you been wanting to do an online course to upskill yourself? Take your cashback savings and put it towards a course that will empower you. This is an investment your future self will thank you for.


  1. When it rains it pours. It’s important for everyone to have a little financial cushion for those unexpected expenses. So, when you need to put new tyres on your car, upgrade your home security system, or there’s a medical emergency – you have a little buffer in your bank balance.


  1. Be charitable. There are people all round the world who are in need of a little help. By donating all or a portion of your cashback bonus to a charity close to your heart, you make a huge difference in the life of another person.


  1. Avoid the debt spiral. Whenever you contribute “spare” money to paying off your debt, it’s a good move. Interest on debt is usually higher than if you saved that same amount, so look at using your cashback bonus to pay your debt.


  1. Look to the short-term. Are school fees due soon? Need to pay your rent? Does your car need a service or your roof a paint? Set your cashback payout aside, so you can use it on the expenses you know are coming.


Being financially savvy is all about balance. So, while you need to be responsible about your financial future, you also need to have a little fun. Think big and start putting money towards that great family holiday you’ve been talking about every year or start small by simply taking your partner out to the movies.


At bsmart, we’re incredibly proud that we can help our members save by paying out cashback bonuses every three months or annually. We also encourage each member to spend smart and save smart – to live smart. For more advice, read our tips on saving for December, reaching your financial freedom goals, and teaching your kids about retirement.


To learn more contact us or click here to sign up directly through our website.


Disclaimer: bsmart does not provide financial advice. The above article is for information purposes only, to share current economic and financial topics and trends. Please consult a suitable and qualified financial services provider if you require financial advice.