Simple ways to save money

Deals
#1

Saving made easy

Making small changes in your life can fatten your savings and help you budget better. Follow these tips to save more money.

  • Save on groceries
  • Save electricity and water
  • Save money with a friend
  • Save on clothes and other items
  • Save on bank fees
  • Change one habit and save
#2

Now, let me explain in detail the points listed above.

Save on groceries :relaxed:

Here are some tips for saving money next time you’re at the supermarket:

  • Take a list so you don’t forget anything. Only buy what’s on the list. This makes it easier to stick to your budget.
  • Put your grocery money in an envelope. Don’t take any other cash or cards with you so you can only spend what you have.
  • Buy in bulk and only go grocery shopping once a fortnight. Use all the food in your pantry before you buy more.
  • Eat a meal or snack before you go to the supermarket. When you are not hungry, you tend to buy less food.
#3

Save electricity and water
Here’s how you can save money and do your bit for the environment.

Saving electricity:

  • Buy energy efficient appliances - download the Energy Rating App to see the running costs
  • Switch off your heater, air-conditioner and lights in rooms you’re not using
  • Keep your curtains or blinds drawn at night to keep the heat in
  • Use a door snake under the door
  • Turn off the heater and put on jumper
  • Turn off your electrical appliances at the powerpoint
  • Turn off the TV and computer when no-one is using it
  • Use energy efficient light bulbs
  • Turn on the washing machine and the dishwasher only when they are full

Saving water:

  • Have 2 minute showers
  • Use grey water from your washing machine or shower to water your plants
  • Install a water efficient shower head
  • Wash clothes with cold water
#4

Save money with a friend
It can be harder to save money when the people around you are keen to spend. Try and find a friend who also wants to save money. You can share tips, enjoy cheap nights out and borrow from each other rather than buy new things. You could even have a competition to see who saves the most money over a set time.

Save on clothes and other items
With fashion changing every season, you don’t really need to buy new clothes all the time:

  • If you’re buying clothes, check if you can wash them to avoid dry cleaning bills
  • If you buy something, make sure it goes with at least two other things in your wardrobe so you can get a few different outfits out of one item
  • Check op-shops and local markets for bargains
  • Ask your neighbours, friends or family if you can borrow tools or gardening equipment, rather than buy new items
#5

Save on bank fees
Some financial institutions offer basic bank accounts with:

  • No account keeping fees
  • Free monthly statements
  • No minimum deposit amounts
  • No overdrawn fees
#6

Change one habit and save
Small changes can make a big difference to your bank balance. Change one thing you do regularly and you could save money. Some examples are:

  • Give up drinking coffee or cut down on alcohol - it may sound scary but it will save you money and can have health benefits
  • Cancel your gym membership and walk to work instead
  • Make your lunch at home
  • Have people over for dinner rather than going out and ask everyone to bring a plate of food
  • Borrow books and DVDs from the library
  • Lock up your credit card for a month and only pay for things with cash
  • Set a limit for birthday and Christmas presents or give homemade gifts