How these financial vehicles can help you thrive in tough times

South Africans are struggling with rising food prices stemming from global conflicts and the growing influence that climate change is having on input costs associated with food production and distribution.

- Ina Opperman

Then there are rising fuel costs, interest rate hikes and other economic pressures to contend with.

It is clear that the food industry is faced with mounting challenges that need to be resolved if South Africa's food security is to be stabilised.

But where does this leave the consumer who is faced with the ongoing increasing cost of living?

Mpudi Maubane, national PR for communications and sponsorships manager at the Spar Group, said joining a stokvel is a good idea in times like this. By joining a grocery stokvel, you can benefit from:

► Bulk buying: Bulk grocery deals on items that have a longer shelf life like rice, maize, canned goods and other pantry staples, which can significantly reduce your monthly grocery expenses. Bulk buying other essential items like detergents, toiletries and back-to-school supplies make good sense too;