- Saving money can be tricky.
- But we can help you out.
- Have a look at some of our tips!
Saving money is not easy. And no matter how much of it you make, you always seem to be left with the same amount when the end of the pay cycle rolls around. But if you'd like a bit more left over for that getaway to Hawaii or that shiny new Dyson, here are some ways to cut back on your spending.
1. Use an app
There are a multitude of budgeting apps out there - and if you always have your phone on you, then these apps are always there with you too, cheering you on and helping you save money. Apps can be the digital sidekicks you never knew you needed. I particularly like Acorns because it requires no effort to set up and you can actually see your savings work and grow.
2. Don't get suckered in by sales
Have you ever seen a jacket that's $100 off, thought "wow, I should get it now while it's on sale!" and then congratulated yourself for being a bargain hunter? Well, obviously, that's the whole psychology behind limited-time sales - but don't let the big yellow banners get inside your head! By spending $200 instead of $300 on an impulse jacket purchase, you haven't saved $100 - you've lost $200. Take a few days to consider if you really need it first.
3. Pay yourself first
As the adage goes, "Don't save what's left after spending - spend what's left after saving." This means that as soon as your paycheck comes in, you should put a portion of it into a savings account that you don't touch, leaving the rest to spend as you like. A popular portioning method is the 50/30/20 rule: use 50% of your paycheck for necessities like rent and bills; 30% for having fun and buying things you want; and 20% for savings.
4. Get a better deal on your bills
Let us help you out! You might be able to save money on your internet plan - whether it's downsizing your data, or just finding a less expensive provider, you can find the plan that suits your budget with our comparison tools. You can start by entering your postcode in the box at the top of the page, browsing some NBN plans, or giving us a call at 1300 763 813.
5. Make a strategic move
If you have the flexibility to move house, try it! If you can rent a place that's within walking or riding distance to work, you can probably save yourself around $50 a week on public transport fees. If you share with a few more people, you can cut back on your rent AND your bills. And sometimes, even moving a few suburbs away from your current location will cut back dramatically on your monthly rent.
6. Go generic at the supermarket
Yes, there are certain budget products that you should avoid like the plague (for me it's licorice bullets). But let's be honest - is anyone going to be able to tell if you start cooking with Home Brand butter rather than something in a shiny packet? Change up your brand selection on things that don't matter too much, and you'll save a few dollars on each item - which really adds up over your whole shopping list.
7. Bring your own lunch to work
It's tempting to go out for lunch every day - resisting that trendy new burger place down the road from your office can be tough, especially if you're a foodie. But it's amazing how much money you can save by doing a bit of meal prep at home. It doesn't have to be hard - get a barbecue chicken, some wraps and a deli salad, and you've got yourself 4 lunches for about $20 - a huge saving if you're used to buying a $12 focaccia every day!
And that's your lot! Don't forget, your budget could be easily improved simply by finding an internet plan that better suits you and your specific conditions? Don't take my word for it, click though to have a look for yourself, or give the experts a call on 1300 763 813. It's fast, it's simple, and it's absolutely free!