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Money Saving Tips 🤑 8 Money Savings Tips That Will Save You Thousands

Money Saving Tips 🤑 8 Money Savings Tips That Will Save You Thousands

More and more Australians are caught living in the pay cheque to pay cheque cycle.

You earn enough to pay the bills and get by, but not enough to live comfortably. You never have enough to get out of debt, make any substantial savings or take holidays, and heaven forbid you get sick meaning you are unable to work.

That’s why it is more important than ever that every Australian become educated about what simple changes they can make to improve their financial position.

You don’t need to find a second job or give up your dream vacation! Just follow these 8 effortless money savings tips and save thousands of $$$

Give up that daily coffee and save thousands of dollars a year

Our daily coffee is something we all know we should give up, but then every morning…

8 Effortless Money Savings Tips That Will Save You Thousands of Dollars

 

 

 

 

 

 

 

 

 

 

 

 

With the average cup of coffee in Australia being around $4 it seems like such a small purchase, but one that quickly adds up.

In fact, having your daily coffee will cost you around $1460 a year. Looks like your coffee isn’t the only thing being slow-roasted!

If you think that’s a lot, consider the times where you don’t limit yourself to one coffee per day.

Review and reduce your bills to find the best deal available

I’m sure you would rather just pay the bill and get on with life, but this is a big mistake, especially with how competitive all markets are becoming.

Ask for a price reduction on your rental lease renewal if the market has changed. Review all of your insurances to make sure you are still getting the best deal. Compare the cost of different electricity, internet and phone providers.

Don’t worry, we don’t expect you to manually review everything!

Instead, check out a comparison site like Compare the Market or Reduce My Bills. These sites let you review prices from a range of competitors and help you find a cheaper deal.

By getting in the habit of checking your options every couple of months, you could end up saving yourself a lot of money.

Start taking lunch to work and stop wasting money on food

Generally, if you look at the main culprits for excess spending it is due to convenience. Take a little time at the start of the week and pre-make your lunches for the week.  This will stop you from wasting money on eating out every day, easily saving you up to $75 – $100 a week.

You will probably find that this practice not only helps your wallet but your waistline as well.

If you are interested in saving money and time with a bit of cooking, check out this video and see how an Aussie mum feeds her family for $168 a month:

Aussie mum feeds her family for $168 A MONTH

Shop smart and on a full stomach so you only buy what you need.

8 Effortless Money Savings Tips That Will Save You Thousands of Dollars

 

 

 

 

 

 

 

Onto another common food-related money drain, impulse purchasing!

We have all been there; you go to the supermarket to buy a couple of ingredients and your hungry brain takes over.

Before you know it, you are at the checkout with enough food to feed a family of 12 and every flavour of Tim Tams.

The solution?

Once a week make a list of all the meals you will eat through the week and all the items you need, including snacks & drinks.

Going in with a plan will see you saving a lot each week on unnecessary impulse purchases.

Track where you are spending money and find saving opportunities

Its payday, our pay goes in, our bill’s come out, and suddenly we are right back where we started before we got paid. It can be very disheartening,

One day sit down and go over your spending, including how much you spend and what you buy.

You will be surprised by some of the ways you can save money once you know exactly where your money is going.

An easier way to do this is to start using a free budgeting app such as Pocketbook.

The app connects to your bank account, so most of the hard work is done for you!

Once you’ve set this up, it will be much easier to get stuck into the budgeting. Start tracking your expenses and setting spending limits. You could end up saving a lot of money.

8 Effortless Money Savings Tips That Will Save You Thousands of Dollars

 

 

 

 

 

 

Start buying regular items in bulk and get bulk savings

Buying in bulk is something people often shy away from in fear of looking poor. While you are busy saving face, you could be missing out on significant financial savings

If you see something on special that isn’t perishable and is something you regularly need to buy, buy it in bulk. It might cost you more today, but in the long run it can save you a lot.

This applies to hygiene items, cleaning products, drinks and even meat that can be frozen in single serving portions.

8 Effortless Money Savings Tips That Will Save You Thousands of Dollars

 

 

 

 

 

 

Cancel your unused gym membership and see the financial gains

Despite how well your intentions were, that unused gym membership of yours isn’t making you any fitter.

It is adding some serious muscle to your financial difficulties though.

Gym memberships are expensive and are only worth it if you are regularly going. You could save close to $1000 per year by dropping your membership.

There are plenty of free options to keep fit when you are feeling motivated, without draining your wallet when you aren’t.

Chase the discounts and become a social saver

If you want to do fun activities with your friends or have lunch without stepping foot in the kitchen, spending money is pretty much unavoidable. But that doesn’t mean you can’t spend the absolute minimum!

If you aren’t taking advantage of coupon sites, you’re missing out. Sites such as Top Bargains can end up saving you a small fortune on all sorts of items.

Going out with your friends? Try suggesting some of the places that offer cheap food and drinks. Forgot the tiny portion sizes and expensive cocktails!

A few simple changes to your social life could save you lots (without losing all your friends).

So, this is our list of simple money-saving tips. As you can see, you don’t need to shift heaven and earth to start saving money.

All it takes is a few small changes in your day-to-day life and you could be finding substantial savings every week.

You have officially levelled up your savings game to level 2. Congratulations, you are no longer a savings rookie.

Keen to take your savings game to the next level?

Talk to one of our friendly financial advisers and find out how you can start growing your savings with smart investments!

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