There are heaps of ways to save money – your imagination is your only limit.
So you want to create some serious financial traction? Maybe raise funds for a deposit on a home, pay off your credit cards once and for all, or pay off your mortgage faster so that it’s not hanging like a noose around your neck?
Well, you’ve come to the right place. We can, for sure, help with that.
You already know it’s about spending less than you earn, right? But how can you squeeze more savings dollars from your paypacket?
Have you ever calculated the cost of one small habit over time? For instance, if you buy a take-away coffee every day for a year it’s likely that will add up to around $1600. Yikes! That could buy an overseas holiday for one person.
Little things definitely add up.
People are always asking me how they can save money, and I’ve done many of the suggestions laid out for you here. Imagine the savings if you were to implement just 12 of the following 103 savings tips I’m about to share with you in this article.
I love to find new and simple ways to save money so we can all reach our financial and lifestyle goals faster. Here are 103 ways to help you save money so you can reach your goals faster. I hope they help you fast-track your journey to becoming debt-free and living the lifestyle of your dreams.
Each one of these tips can lead to significant savings over time…
1. Fun with highlighters! – Separating your NEEDS from your WANTS
We become accustomed to living our lifestyles and don’t stop to think about whether we really need the things we spend money on day to day. Get a piece of paper and record everything you spend money on for a few days. Then grab two coloured highlighters and highlight the necessities in one colour and the wants in another colour. If you’re unsure which is which then ask yourself this question, “If a loved one in my life needed $100k surgery and I had to stop all essential spending what things would go?”
2. Bring Lunch every day, save a packet.
This is one of the simplest ways of saving money with huge potential. Buying lunch at work or school every day adds up to thousands over time. Leftovers make great next day lunches and will prevent you from buying unhealthy and expensive take out food. Even if you only buy lunch 3 times a week, that’s conservatively a saving of $1500 a year.
3. Buy cheaper cuts, or go veg.
Popular cuts of meat are ALWAYS more expensive. Save yourself some serious cash and purchase cheaper cuts that can be used for stewing or tossing into stirfries. Use meat as a flavouring or garnish, rather than as the primary focus of a meal, thereby limiting the amount you use and making a little go long way.
Even better still, choose vegetarian or vegan protein options such as legumes and pulses, tofu or tempeh. These are always vastly cheaper, healthier and more sustainable for the planet.
4. Save on gas money. Offer share riding or carpooling
Carpooling is becoming increasingly popular, especially for commuters, or city dwellers. There are even websites dedicated to helping you find a ride, or a passenger, to help you share the costs of transport. A plethora of helpful websites such as Coseats.com and Shareurride or Shareyourride can get you from A to B and save you a ton of money, limiting pollution, while also making friends.
5. Download YouTube videos to save data on road trips or in the air.
Once you learn how to do this you’ll never use up your precious data while travelling again. A very simple but cost-effective hack.
6. Reward your kids for finding the cheapest petrol prices
This is an updated version of the old travel time favourite game “Eye Spy”. Kids will love to play, learn to read and count faster, and also learn a life-long skill of spotting better deals.
7. Meal Plan and make a list before you go grocery shopping.
Develop a regular weekly habit of planning your meals ahead. This one tip will save you both time and money. Avoid the gross waste of overspending on food, save yourself time in not going to the store every day, and plan healthier budget meals.
8. Eat before you go.
People always overspend at the supermarket when they’re hungry. Always make sure you eat before you shop to prevent buying random things that aren’t on your list.
9. Leave your family at home.
Keep more cash in your wallet and leave your kids and partner at home whenever you go grocery shopping. People ALWAYS spend more when they do the family shop together.
10. Drink water from the tap. Refuse to buy bottled water.
If you’re buy bottled water, you’re blowing some serious cash, not to mention playing a part in trashing our environment. It’s likely that water you bought for $2 was filled from a tap anyway, so why not just cut out the middle man and go straight to the source.
11. There’s nothing faster than a banana.
Convenience food will cost you in more ways than one. Not only will you eat for about 10 times the price of food prepared at home. It’s also laden with fat, sugar and salt, negatively affecting your health and costing you more in time off work and medical bills later on. Whole fruits on other hand are the fastest food around. Keep them on your desk, or kitchen counter, top, reach, peel, eat. Simple, healthy and fast.
12. Quit the smokes. You can do it!
This vice is seriously hampering your ability to save, not to mention wrecking your health. But you already know this. You’ll pay both now and later, in poor health, if you smoke. Do whatever you can to quit. There are plenty of organisations who can help and quitting will help you save a truckload of money.
13. Make your own booze.
Alcohol, like cigarettes, is also hugely expensive. Cutting it out or limiting your drinks will save you a ton of money. But, if you really need to drink, then consider brewing your own, or inviting friends to socialise at home rather than paying for drinks in expensive bars. You can easily make 20 litres of beer or wine and it doesn’t take very long once you’ve learned how.
14. Buy quality appliances.
You get what you pay for. Buy well at the start and your appliances will last longer and save you in the long run. Cheap appliances have a vastly shorter lifespan – it’s a false economy buying them.
15. Energy efficient devices will save you in the long run.
Energy efficient devices or appliances can be expensive at first but if you consider the money you will save on electricity in the long run, they are truly an investment.
16. Turn off the lights.
Every little bit of wattage you use powering the lights in your home adds up over time. It goes without saying to turn everything off when you leave the house, but even when you’re home you don’t need to light up every single room. When you leave a room, turn the lights off. In the day time use natural light instead of flicking the lights on.
17. Buy a Smart Power Strip.
This little device is a huge money saver, cutting power to all ancillary devices (such as scanners, printers, cable/satellite boxes, video game consoles, VCRs and DVD players when they’re not in use. So when you power off your TV or computer, all these other devices will be switched off as well. A brilliant way to significantly trim a bloated power bill.
18. Wash your dishes by hand.
Dishwashers use up a LOT of water, but if you’re going to wash your dishes by hand make sure you fill the sink and wash all dishes in one go rather than one item at a time under running water. If you do the latter you will waste even more water.
19. Cut Cable.
Let’s face it, you don’t actually watch every single channel on your cable anyway, do you? Instead installing a satellite dish can save you quite a few bucks over the course of a year.
20. Monthly subscriptions are a huge drain on your finances.
If you have them, seriously consider leaving Netflix, Amazon Prime, Spotify or any other monthly subscription program. Definitely not a necessity, subscriptions like this are an additional expense that will burn a hole in your wallet faster than you can say “Spending Leak”.
21. Shop online.
It’s far easier to compare prices and will save you on gas and time. But it will only save you money if you buy only what you need. Many people fall into the trap of overspending online simply because it’s so convenient. However, if you have an online shopping habit that you can’t seem to break then it might be time to seek help.
22. Don’t upgrade when you’re old one is perfectly fine.
Buying new gadgets just to look cool or because the latest model is available or on special is a really dumb financial move. If your phone is still in great shape, then stick with it.
23. Stop buying Takeaway coffee.
If you can’t give up completely then get yourself a coffee machine and start making your own. It will pay for itself the first month or two, if you only buy just one a day. If you buy more than that it might pay for itself in the first few weeks.
24. Pay bills on time to avoid interest or penalties.
Late fees are expensive and so unnecessary. Those extra dollars add up to a big sum of big money in a very short time. You could use a calendar to remind yourself of every due date so that you won’t be charged late fees, or find out about our Spending Planner Program which will automatically organise your cashflow so that you never bounce a bill payment again.
25. Cashback programs put money in your wallet.
Apps such as PricePal or CashRewards can offer financial rewards whenever you use their apps to make purchases. The trick is to only use them when you really NEED something, rather than simply purchasing more to get the cash.
26. Take out restaurant leftovers.
Always bring home leftover foods home from the restaurants you visit. You paid for it, so why not bring it home to eat and enjoy again with your family. Restaurants are more than happy to see less of their food being thrown away.
27. Make your own cleaning supplies.
DIY cleaners are dirt cheap and environmentally friendly. A 2 Litre bottle of white vinegar can be used to clean windows, bench tops, bathroom tiles to kill mould and disinfect toilets. Add it to your dishwasher rinse cycle to prevent clouding of glassware. Add a few drops of essential oil and you have a super cheap multipurpose cleaner that people have used for hundreds of years prior to the advertising of mass produced chemical cleaners.
28. Switch to a credit card with no annual fee.
Or better still cancel your credit cards altogether. A Visa or Mastercard debit card can be used instead to purchase anything online or when you’re out and about. And you’ll never get yourself into the debt trap of paying interest for everything you buy again.
29. Avoid stress spending.
Learn how to cope with stress without spending. Sometimes simply going to bed and having a good night’s sleep is the best remedy. Stop and ask yourself what you’re REALLY needing. Maybe you need to feel connected, so having a chat with your partner or family, or even best friends over a cup of coffee, might be the answer. Or may you need some fun in your life. Put on some music and dance away your stress. No one has to see your uncoordinated moves, but the movement will move the stress along.
30. Clear your clutter and sell some stuff.
Do a wardrobe cleanout and either gift or sell your old clothes online. You’ll be surprise how many good clothes you have that you can still make money from. Most people buy new clothes simply because they can’t find what they need among the mound of clothes they already own. Decluttering will help you ‘see’ what you actually need, and also make you more conscious of not spending unnecessarily next time.
Find an image of a garage sale or someone decluttering
31. Find your style.
Following on from Tip #30, once you’ve decluttered all the clothes that you no longer love, or don’t love you, then you’ll start to see what your style is. With a clear picture of what really suits you, you’ll make better decisions about purchasing only what you need to enhance your style.
32. Switch off the TV and pick up a book.
TVs are passive entertainment designed to dumb you down and get you to spend more. They don’t require anything of you, and love to flash images of the lifestyle you “should have”, creating a false need in your mind. Avoid the ads by simply switching off. The wealthiest people on the planet are all readers (or consumers of audio books). They know that expanding your mind is the fastest way to increasing your potential and consequently your wealth.
33. Start a coin jar.
Even with our growing reliance on cards, people still carry cash and end up with loose change. Save up your loose change and it can be used when you go grocery shopping. My hairdresser told me that every $5 note that crossed her palm she saved for her future face lift. She had already saved $5000 in $5 notes at the time of sharing this tip.
34. Buy staples in bulk.
If you can, always buy bulk non-perishable staples. You’d be surprised how much you can save when you buy in bulk things like rice, sugar, oils, and cleaning products. Costco and Aldi are two discount stores where you can make serious savings in this area.
35. Wash your own car.
Car washing services are expensive. Why not do it at home with your kids? Spend some quality time with them while washing your car and give them the chance to earn a few bucks. Two birds, one stone.
36. New cars are a luxury you will pay through the nose for.
If your old car is still working fine then you don’t need to buy a new one. Upgrading just because your 3 year warranty has run out is a false economy. And that new car smell that you just love? It’s actually made up of highly toxic manufacturing glues and resins that need to off-gas for at least 6-12 months before the car becomes safe to breathe in again.
37. Entertain your mates at home
Instead of eating out at expensive restaurants with your family or friends, invite them to your place. Cook up some delicious, inexpensive food like Mexican beans and rice, watch a good movie, play cards or a few board games, and spend time with your people.
38. If you’re not using your gym membership, cancel it.
Gym memberships are a real drain on your wallet, especially when you don’t use them, which more than 50% of members don’t. Keeping your body in shape doesn’t have to cost the earth. Buy a few inexpensive free weights, watch free workout videos on youtube, run around your local neighbourhood, or walk with your dog and kids at the park.
39. Maintain your car regularly.
Maintaining your car can prevent big repair expenses down the track. Regularly checking oil, keeping tyres well inflated and aligned, and brakes in order, can save you some big dollars later on.
40. Switch to prepaid mobile plan.
Only use what you pay for. This is as simple as, if you don’t need it, then cancel it.
41. Use the “30 day rule” to keep impulse buying in check.
Impulse buying can really set you back financially. If you want to buy something big (or small) that isn’t essential, then commit to waiting for 30 days before you decide if you really want to buy it or not.
42. Watch out for in-app fees.
Maximize the free apps on your phone and never buy paid apps if you don’t need them, which is in most cases.
43. Grow and harvest your own fruits and vegetables.
Even If you have a small backyard you’d be surprised how much you can grow. Suburban backyard food forests are becoming more and more popular. Not only will you have the peace of mind that you know exactly how your food was grown, but you’ll also save yourself heaps of money, and get the health benefits of working in the soil.
44. Stop wasting things.
What foods are you constantly throwing out? Slightly wilted veggies at the end of the week can be turned into delicious soups and stews. Use your freezer to freeze leftovers to use another day or week. Most people are throwing out up to ⅓ of their weekly grocery shop. This shocking statistic should be enough to stop waste in its tracks.
45. Don’t buy disposable silverware, plates and cups.
It’s bad for environment and your budget. Always use reusable silverware, plates and cups. If you don’t want to take your good silverware to work or school then stop by Goodwill and by some cheap cutlery for that purpose.
46. Learn to make things from scratch.
This tip applies to meals, clothing, simple furniture and shelving, cleaning products and any other simple items you use around the house. Youtube is a vast video library of instruction in how to save yourself thousands by making things yourself.
47. Buy store-name or no-name brands.
People pay through the nose when they choose to buy brand-name items. In reality, the quality of the product is really no different to the branded version. For instance, for oatmeal alone you could save yourself $3 per box or bag if you buy the store brand, rather than the brand.
48. Cut out lotions and perfumes, or any unnecessary toiletries.
One drop of essential oil goes along way and makes expensive perfumes redundant. Expensive hand lotions really are not necessary. A good all-purpose hand lotion will do the job just as well and you can scent it with essential oil to make it feel like an expensive brand. You could even make your own home-made face masks from kitchen ingredients such as oatmeal, honey, egg with a little green or red clay for literally cents in the dollar.
49. Buy long shelf life food items
Canned or dried beans, lentils, rice and pasta last a very long time and are very cheap, healthful plant-based foods to keep on hand. Flours for home-made bread, and nuts and seeds kept in the fridge will also last a long time.
50. Prioritise your health
Don’t cut corners with your health or you’ll pay for it in the long run. Prioritise sleep and rest, meditation, exercise and good healthy food. These things don’t cost a lot but will pay you ten or twenty fold long-term. People who are ill say they could never put a price on good health. You’ll save money on medical bills and be able to live well into old age.
51. Think twice before taking painkillers.
If it can be relieved by just closing your eyes, rehydrating yourself with water or taking a rest, then do that to save your money and your body.
52. Take short showers instead of long baths to save on water bills
This tip assumes that you have a modern, three-star rated showerhead which uses no more than 9 litres of water per minute, while old style showerheads use 15–20 litres per minute. If you don’t you definitely need to get one to save water and money.
53. Shop around for a better deal on life insurance
Most people are a bit fuzzy about how to save money on life insurance policies, but it absolutely can be done. Opting for term, rather than permanent insurance will save you. So will buying sooner rather than later, as the cost of life insurance goes up as you age. Keeping healthy and making sure you disclose all health issues upfront are other ways you can save. It might seem counterintuitive to disclose health issues but your agent can match you to the most competitive insurer if you do.
54. Batch casseroles in advance.
This is where a crockpot comes into its own. Make up a big batch of yumminess, slow cook it through the day and it will be ready for dinner with you hardly lifting a finger. Then you can freeze the leftovers for delicious and healthy future meals. Saving you both time and money.
55. Cut your own, or your family’s, hair.
This is something I’ve done for years, ever since my boys were very small. They’re now teenagers and they still ask me for a haircut. At $20 a cut 4-6 times a year, I’ve calculated I’ve saved at least $3000 over the past 15 years. A simple electric hairclipper like a Wahl and the instructional video it comes with are your savings arsenal.
56. Repair clothes instead of replacing them
Keeping a simple sewing kit on hand will help you save heaps on purchasing new clothes. You don’t have to toss your favourite clothing item because its lost a button, or now bears a small hole. Sew on a new button with thread to match, put in a patch – good as new again! An item that could have cost you $70-$200 to replace might have just had its lifespan extended by another year.
Find an image of someone sewing, or a closeup of sewing or sewing machine
57. Swap babysitting with your neighbours, or a good friend.
If you live in a neighbourhood with lots of families, there are probably a lot of parents who’d be willing to swap babysitting nights with you, saving you all a ton of money in babysitting fees. Ask and you shall receive. Chances are high they’ll be wanting to save in this area too.
58. Can you get it second hand?
Whenever you need something, see if you can first find it at charity shops like Goodwill or St Vincent de Paul, or in yard sales.
59. Make your own bread and save a few dollars everyday.
You don’t need a breadmaker, although having one can save you time. Bread can be expensive if you consume it on a daily basis. A big bag of flour, yeast, salt and oil is all you need.
60. Cut up your credit cards.
Credit cards are a convenient way to go broke. They make instant gratification all too easy. Anything you really want or need can be saved for, and purchased on a debit card, saving you thousands over time.
61. Declutter every room.
It’s virtually impossible to find the things you need in a cluttered house. Clearing out will help you find that thing you were just about to go to the shops to purchase. Toss items your family no longer uses, or make some money by selling them.
62. Fix things yourself.
It’s never been easier to DIY repairs. Jump on youtube and you’ll find a plethora of instructional videos to help you get things done. It’s super rewarding to feel like you have saved something from landfill and learned something new in the process. You can literally save hundreds of dollars with this one tip alone.
63. A good coupon strategy can save hundreds.
Clipping coupons can be a time-waster, and it’s questionable how much money you’ll actually save, but if you have a good strategy it can really be worth doing. Understanding the way that manufacturers try to stimulate sales of their products definitely helps. If you clip coupons, hold them for 4 weeks and then take them shopping you will learn that manufacturers usually discount their items about a month after advertising coupons. That’s because they want to keep sales high, and get consumers ‘hooked’ on their product.
64. Entertain children on the cheap.
Teaching your children to self-entertain with limited resources will set your family up for a lifetime of saving and frugality. Young children especially are happiest just playing around with simple items such as cardboard boxes, pots and pans, scissors, sand, paper, and a few textas. Encouraging children to read, draw, build things and play soccer, while minimising their exposure to TV or video games will keep their creativity high and teach them skills both creatively and financially for the long haul.
65. Pay off your mortgage early.
On a home loan of $300,000 with monthly repayments of $1520 over 30 years you will pay a whopping $247,220 in interest (almost double the loan itself). But if you pay an extra $1500/month you will save yourself $171,201 and reduce your loan term by 19 years and 7 months. The moral of the story is, if you really want to get ahead make paying down your mortgage fast a priority.
66. Rent out unused areas or rooms of your house.
This is now easier than ever to do with sites like Airbnb and Gumtree. If you have a spare room, you don’t even have to get a permanent flat-mate. You can just rent it out for weekends or nights here and there and make a great return.
67. Take up cheaper hobbies.
Reading books (from the library), playing soccer, gardening, writing, cooking, teaching yourself how to play a musical instrument (via thousands of free instructional youtube videos) – there are countless free or very cheap past-times. Do some googling and let your imagination run wild. Write down a list of at least 20 possibilities for having fun without spending much or anything at all.
68. Shop with Cash.
Write out your weekly shopping budget and bring only the exact amount of cash you need to get the job done. One famous research study showed that people were likely to spend 80% more on baseball tickets if they paid with a credit card as opposed to cash. If you don’t have the cash you won’t spend it.
69. Adjust your air-conditioning or heat depending on the weather, by 1 to 3 degree.
Get diligent about adjust your cooling or heating, and you will save a lot of money over time.
70. Do your own dog/pet grooming.
There are tonnes of youtube videos on DIY pet grooming to take advantage of.
Image of someone dog grooming, or even just of a cute hairy dog like a poodle
71. Don’t boil the kettle each time you want to make coffee or tea.
Electric kettles are one of the most power-hungry appliances you will own. Instead, boil water once a day and fill a thermos so you have hot water all day.
72. DIY Beauty.
French manicures, pedicures, waxing, eyebrows. There are so many great blog and Youtube tutorials these days that you can learn to do all of these things and treat yourself to a pampering for free.
73. Only shop once a week.
If you shop every day, or even a few times a week you will invariably spend more. Instead, allocate one day every week to do your grocery shopping or any other shopping. Go with a well considered list and a pen to check things off.
74. Don’t go to the mall when you’re bored.
You can go home and rest after a hard working week, or spend some quality time with your family
75. Order your groceries online.
Most cities or big regional centres offer this service now. Avoid impulse buying when you go out shopping by ordering online whatever you need. You still need to make a list before you put your order in though!
76. Repurpose old furniture
We had a beautiful antique dining table that our dog had chewed the legs off. I didn’t want to take it to landfill, so instead we cut down the legs where the damage was and turned it into a wide low coffee table. What old furniture do you own that you could reinvent into something new?
77. Save yourself on prescription glasses
The frames are where a huge part of the cost is. Saving those and just replacing the lenses could mean you save a heap.
78. Turn your water off when you are not using it.
This is such a simple and obvious suggestion, but I’m amazing how many people don’t do it. Do you do any of the following? Leave your tap running while you’re brushing your teeth? Wash your plates and knives under running water, instead of filling a sink full of water? You could even turn your shower off while you’re lathering your hair with shampoo. You might save a few litres of water by doing that.
79. Don’t run a dishwasher or washing machine until it’s fully loaded.
Also, incredibly simple advice, that many people don’t do. Running a dishwasher takes an enormous amount of water and then power on top. You can conserve both by making sure that it’s fully stacked.
80. Pantry clean-out day.
Once a week, eat down the food stored in your pantry to avoid food waste. You could probably save $20 or more each week just by employing this habit. There’s over $1000 right there.
81. Use the last drop of everything.
Shampoo, conditioner, hand soap, toothpaste. Add a little bit of water to containers to loosen that last bits of product and make your hard earned dollars go a little further.
82. Use your own bank’s ATMs (or their affiliates), never pay charges
ATM fees can be very steep if you use one that is not one of your banks. Go online to check the location of your bank’s ATMs so that you’re not making a last minute decision to use another bank’s.
83. Stop buying pre packaged snacks
Just like take-away food you’ll pay heavily for the convenience when you buy pre-packaged meals or snacks. Making your own biscuits, popcorn and muesli bars is cheap and easy and a great activity to get kids involved in instead of playing computer games all weekend. Having a hand in making their own school snacks will give them a sense of pride, and you’ll have saved yourself a lot of money in the process.
84. Use blankets, sweaters or any additional clothing before changing the thermostat.
In our house there’s always someone who is cold and someone who is hot. It’s impossible to get the temperature right to suit everyone. It’s much easier and cheaper for family members to simply wear layers that they can add or subtract when they feel the need. Power bills climb higher and higher each year and represent a significant are of savings.
85. Don’t forget to ask for discounts.
Many places offer discounts and want your business. You’ll never know if you don’t ask.
If you’re paying cash ALWAYS ask for a discount.
86. Bring your own food when travelling
Food purchased on the road is always more expensive. One day of road travel might cost one person $30 alone. Feeding a whole family on the road could make a frightening dent in your savings. Bringing home made treats and snacks in the car or on a plane will mean that you have more spending money for seeing the sights.
87. Re-gift items that you haven’t used or have a duplicate of.
Don’t feel guilty. As long as you are gifting things to people that you believe they would genuinely value then it’s absolutely fine. It will save you and the environment.
88. Bring your own Keep-cup.
Many cafes these days are offering discounts on tea and coffee for customers who provide their own re-usable coffee or tea cups. You may receive up to 20% off the price of your coffee from maintaining this practice.
89. Buy a chest freezer to store bulk products
I love my chest freezer. It’s more efficient and able to store bulk orders of pet mince so that I only have to take a trip to the butchers once every 6 weeks or so, saving me both time and money.
90. Keep a stock of food supplies at the office.
If you have food on hand such as tinned fruit, tuna, rice crackers it will prevent you from buying lunch on those days when you were too rushed to pack lunch at home.
91. Really consider whether that extended warranty is worth it.
Extended warranties can often be expensive compared to the value of the product you’re buying, and the fine print may tell you that it doesn’t cover very much at all. Consider how long your product is going to last before being superseded. Australian Consumer Law says that it’s reasonable to expect your electrical product to last at least 2 years. Extended warranties often cover the product in the period when it’s least likely fail, ie between 2 and 4 years.
Watch The Checkout’s piece about Extended Warranties here.
92. Stay away from sales.
In fact stay out of stores as much as you possibly can. If you don’t know the sales are on, the impulse buyer in you won’t be triggered to spend money on things you don’t need.
This is an awesome way to avoid paying hotels or even long-term rent. There are now multiple housesitting websites and it has become very popular for both Sitters and homeowners alike. People ALWAYS need someone to look after their pets when they travel, and they’d prefer not to pay for the service if they don’t have to. You offer a free service in exchange for free accomodation.
94. Volunteer at festivals you’d like to go to
Save on the ticket fare, volunteer and get to enjoy the bands and vibe for free.
95. Avoid junk foods at all costs
Have I already mentioned this one? Probably 2 or 3 times, right? That’s because I need to really slam it home to you. Junk food will ruin your health and your bank balance.
96. Breastfeed your children and avoid buying milk formula
Breastfeeding is a far healthier and more economical option for your children’s first food. What other food is completely free, completely devoid of packaging and ultimately convenient. You don’t have to prepare anything at all and can supply it anywhere, any time.
97. Pool your internet bill with a neighbour.
This works especially well for neighbours living in an apartment block. You could share wifi costs with 3 to five of your neighbours.
98. Move to a less expensive area.
Smaller urban or rural areas have a far less expensive cost of living in all sorts of ways. Rents are infinitely cheaper, there are few if any parking meters and lifestyle activities are also generally cheaper. I love the pace of living in our semi-rural urban area. We see nature from every window and just a short walk down the road is countryside. We are less likely to need or want expensive meals out or entertainment when we’re enjoying the best that nature has to offer.
99. Use a cloth bag instead of plastic bags everywhere
Most supermarkets around us no longer give out free single-use plastic bags, which is a great move for the environment. Having to bring your own bags to the shops means that you need to be organised, which has flow-on effects to meal planning and budget shopping.
100. Involve your partner in your money-saving plans so that you have support.
If you’re part of a couple then you already have opportunities to save money such as shared accomodation and other such living costs, but there are so many other opportunities for couples to get really close when you have a shared vision for what you’re saving for. Conversations around financial goals, saving and budgeting are really worth having because they will mean far fewer arguments about money over the long run. If you find that you just don’t agree at all on money then it might be worth considering getting a personal finance coach to help you get on the same page.
101. Air-Seal your home
Avoid heat transfer when the inside of your house is at a different temperature than the outside of your house. During cold months, the heat in your home will leak out. In warm months, the heat will leak in. The more leakage, the more your appliances have to run. The more appliances running, the higher your energy bill will be.
Put an air-blocking strip on the bottom of any doors that may have a draft. Caulk your windows so that air doesn’t flow through the cracks. Add insulation where you can. Seal up exposed ducts.
102. Have a group dinner instead of going to a restaurant.
If 5-10 of your friends all chip in $5 to $10 each it’s easy, cheap and cheerful to make up an enormous lasagne, buy a cask of wine and enjoy hanging out with your mates. The friend who provides the venue doesn’t have to cook! And the cook doesn’t have to wash up!
103. Never let your bank account balance get below minimum to avoid extra charges.
Don’t get slogged with hefty bank fees for going over your minimum balance. It’s very easy to do, but if you have a system like the Bright Spenders Spender Planner you will easily avoid this ever happening to you.
Concluding thoughts about saving money…
Probably the most important and ultimate tip to saving money is to have a really clear reason why you want to save, and a great Spending Plan, that is customised to your lifestyle, to help you get there. If you don’t have a big enough WHY then you probably won’t be motivated to make any of these happen.
And if you don’t have a good Spending Plan, that fits you like a glove, then how will you ever know if you’re on or off track with your finances?
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