25 Simple Saving Tips – More Money In Your Pocket

At VIDEN we believe in imparting our knowledge… have you ever wondered, “How can I save more this year? What are the practical ways to go about it?”

We sourced 25 simple suggestions below…

The good news is even small efforts can add up to big savings over time.

No matter what you’re saving money for —whether it’s to reach a savings goal, pay off debt faster or plan ahead for a holiday or first home

These simple suggestions will help you get there faster.

With 25 simple suggestions, there is one (or many) to suit everyone!

1. Create sub-accounts for different savings goals.

It’s an easy way to measure your progress and make quick adjustments.

2. Nickname those goals.

Research proves this creates an emotional connection that motivates you to save more. Names such as Mojo (Barefoot Investor), Emergency Fund (Dave Ramsey), Firehose, etc

3. Set up automatic recurring investments…

after payday. You won’t have time to miss the money. Small regular deposits add up and the power of compound interest is on your side.

4. Treat yourself to a birthday freebie.

Most restaurants, if you tell them it’s your birthday, will give you a little something just for dining with them. The key is signing up early.

5. Raid your drawers for unused gift cards.

If you probably won’t put them to good use, re-gift or sell them.

6. Cancel unused subscriptions…

for magazines, gym memberships, etc.

7. Turn off the tap when you brush your teeth.

This can save 5,000L per year, cutting down your water bill.

8. Take shorter showers.

9. Unplug your laptop and other appliances…

when you aren’t using them. Leaving your computer on all day could add up to hundreds in a year.

10. Convert to low-flush toilets…

and high efficiency appliances when your current ones need replacing.

11. DIY when it makes sense.

(Doing major repairs on your own won’t save you money if you end up having to a pay a pro to fix your shoddy work.). The experts not only have the skill and experience but also the right tools.

12. Make a list before hitting the store, and stick to it…

—and avoid grocery shopping when you’re hungry and more likely to make impulse buys. Better yet, take advantage of online shopping. You can save your lists of favourite items saving heaps of time. All the sale prices and discounts are also reflected online so don’t worry about missing out on deals. Some suppliers will also provide free shipping if you use their store credit card but be sure to only use it for their store and pay it off straight away. Another cool service is Shipster powered by Australia Post who provide free shipping for many online retailers when you pay a flat monthly fee of $6.95 for the priviledge…

13. Buy the floor model for a discount…

when you’re shopping for big-ticket items like furniture or appliances. Sometimes you can still get the floor model price even for non-demo stock, just ask.

14. Buy last year’s model…

especially when you’re shopping for electronics. Retailers like to move old stock.

15. Buy holiday lollies, decorations and wrapping paper…

the day after a major holiday.

16. Borrow.

A friend may own a black-tie outfit you can wear to an upcoming wedding.

17. Get books at the library…

instead of purchasing your own copies. This is a really good tip for students too.

18. Use generic or store-brand products…

for everything from cereal to face lotion. For many products they are manufactured in the same factory, they just have different branding and price.

19. Buy everyday items…

like batteries and bottled water in bulk. Consider purchasing a membership to Costco, etc and share with some family and friends…

20. Try the lunch menu…

at your favorite dinner spot.

21. Make your own coffee…

saving you anywhere from $1 to $5 per drink.

22. Commit to bringing your lunch

just one more day a week, or everyday. $5 Dominoes pizza’s can get old, very quickly…or not 😉

23. Stock up on wine, beer and liquor the day after a major holiday…

to score discounts. Those are among the quietest days for bottleshops.

24. Look for other freebies in your city…

like fitness classes or one-day workouts in public parks. Brisbane City has plenty of free options.

25. Volunteer.

It’s free and will make you feel good too. Plus, if you are looking for a job, especially if you just moved to Australia, volunteering will not only build your connections it is seen as quite a favourable trait to prospective employers.

 

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By |2018-01-19T10:19:36+00:00January 19th, 2018|General|0 Comments

About the Author:

A lover of all things technical, Alvin always wanted to know how things worked. From pulling apart appliances and putting them back together with a few screws left over to reading manuals from cover to cover; he was destined for a career in engineering. After studying Bachelor Degrees in Electrical and Computer Engineering and Business majoring in marketing he started to learn that this unique academic combination would help him in future endeavours.

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