Do you want to save instead of spend?
Here are my top tips to get your bank balance going up instead of down.
- Cancel a subscription for 6 months. Do you really need Netflix, Stan, Foxtel, and Spotify? Getting rid of just one for 6 months would save you at least $60.
- Hold onto your phone for an extra 6-12 months after it’s out of contract. My phone bill dropped from $105 per month to $28 a month and my phone is still in great condition. Doing that for 6 months saves $462; 12 months saves a whopping $924. I’ve recently heard about Kogan phone plans offering prepaid service for under $200 a year. There are plenty of deals available once you start looking.
- Skip your daily skinny latte. This could be hard if you need caffeine to kick-start your day, but it could be good for your health as well as your wallet, saving over $1,500 a year.
- Paint your own nails. A mani/pedi is a great little treat, but doing your own nails will save you over $500 in a year – and the more you do it, the better you’ll get.
- Save a goldie a day. Whether it’s $1 or $2, you can save up to $730 a year and I bet you won’t miss it.
- Turn off your lights, fans, air conditioning, and power points when you’re not using them. This tip is good for your wallet and the environment!
- Pack your lunch. It’s pretty ridiculous how much you can spend on lunches in a week. $15 on lunch, 5 days a week, 48 weeks a year costs $3,600. Cut that down to one bought lunch a week and you’ll be saving yourself nearly $3,000.
- Make a meal plan and grocery shop for your meal plan. No extras required! No additional thought required. This will save you tons and will have you throwing away less. An additional bonus is you won’t have to think about what’s for dinner every day because you’ve already made that decision. This helps to avoid decision burnout.
- Sell stuff you don’t need or use. Post it on Facebook marketplace, Gumtree, or eBay. Why keep it if you no longer use it, it doesn’t fit, or you don’t like it anymore.
- Have drinks at home before going out. A bottle of wine often costs half as much in a bottle shop as it does in a bar or restaurant.
- Make a shopping list – for all your shopping trips. And stick to it!
- Have a plan for impulse buys. Rather than just whipping out the plastic and buying it, have a 5 or 10 minute breather between seeing and buying. Think about whether you really need it, where will you wear it, do you have accessories to go with it, is it versatile, will it last more than one season?
- Look for free activities. Meet friends for a walk at the beach or along the river instead of for lunch; go watch a sunrise or sunset together instead of a movie; go to a free museum or have a picnic in a park or botanic gardens. I recently found that there are tons of free activities listed on Pinterest – of all places. Just search “free activities (insert city/town name)”. It’s a great idea for holiday activities.
- Look for discounts. If you can’t find something to do that’s free, search online to see if there are discounts for other activities that sound good.
- Cancel a credit card that you don’t use. You’ll save the annual membership fees!
- Take your own water. Buy a reusable drink bottle that you love and use it.
- Hit the supermarket before you hit the movies. You might need to discreetly take your stash in, but you’ll save heaps – especially if you’re tagging along with the kids.
- Shop around for petrol. If you drive past a petrol station with a great price, it’s a good idea to fill up even if your tank’s not empty. Sometimes there can be a whopping 40c per litre difference between morning and evening prices, so take the good prices when they’re offered.
- Consider having a clothing swap with a friend or two. If you’ve got lots of clothes that you just don’t love anymore but are still great quality, a clothing swap is a great way to refresh your wardrobe on a budget.
- Buy your basics in bulk. You can usually buy an 8-pack of toilet paper in a major supermarket for the same price as a 2-pack in your corner store, so stock up on the basics and home staples when you’re in the supermarket and keep your eye on the sales.
- Shop around for your insurance and utilities to find the same service at a better price.
- Meet friends for a picnic rather than a meal out. Take a ball, take some bubbles, have some fun, get some vitamin D and fresh air. There’s nothing like it!
- Ask the kids what they want to do for their next holiday. Maybe they might like spending quality family time at the beach or park flying kites instead of traipsing around Movie World or the zoo.
Think of all the great things you can do with your savings!
What can you add to the list?