Money is not easy to come by these days. Wherever we look, prices are getting more expensive, companies are closing down and more people are losing their jobs. But you know, improving your financial situation isn’t really that hard. To help you in your penny-pinching efforts, here are some easy tricks to saving money.
Trick #1: Cook your own food
Eating out costs around AU$20 or more, but cooking your own meals would be worth roughly AU$65 to AU$75 per week. And for that amount, your groceries will have more variety than whatever other fast-food place would give you.
Trick #2: Make a shopping list and follow it strictly
Many of our expensive purchases come from impulse buys, and these accumulate over time. So before you go shopping, prepare a list of the things you need and follow it strictly.
Trick #3: Buy wholesale
You probably already know this: you get discounts for buying in bulk. But before you run to the store, you should buy your groceries judiciously. For instance, buying unpreserved items in bulk isn’t a very good idea. Stick to non-perishable wholesale.
Trick #4: Watch Less television
Aside from electricity savings, not watching television would prevent you from seeing those tempting ads, which could condition you to buy something that you don’t need.
Trick #5: Sell your old stuff
There are probably a bunch of old stuff in your closet that are just accumulating dust. There’s a good chance you don’t really need these items (thus their storage), but if they’re in good condition, you can dispose of them by holding a garage sale. That way, you clear up space and make money in the process.
Trick #6: Pay your bills in full and on time
If you pay your bills on time, you save money by not getting any late fees. Better yet, if you can afford to settle your bill in full every month, you’ll save even more money since you won’t have to pay extra for interest.
Trick #7: Join a carpool
Carpooling saves you money by reducing your petrol use and cutting down your car’s maintenance costs since it isn’t used as much.
Trick #8: DIY car maintenance
If you can maintain your car by yourself (i.e. change your car’s oil, tyres, sparkplugs, etc.), you’ll save on maintenance costs because you won’t have to hire a mechanic to do the job.
Trick #9: Quit your expensive habit/s
Do you smoke or drink? Then give it up. You’ll be healthier and save more money in the process. In Australia, the average price of a cigarette pack would set you back by around AU$11 to AU$15. If you smoke 1.5 packs per day, that means you spend around AU$16.50 to AU$22.50 daily, which adds up to at least AU$495 per month.
Trick #10: Ride a bike
If you don’t know anyone to carpool with, you can ride a bike to work. It’s healthier, good for the environment, and would cost you zero dollars. Just make sure you take a less busy route; it’s safer and you won’t have to deal with the smog.
Trick #11: Change your diet
Meat, specifically pork and beef, are generally more expensive than vegetables, fish, fruits or chicken. If you want to save money, eat smaller portions of meat or follow a vegetarian diet. Doing this would also provide health benefits, which would in turn save you even more money on health-related expenses.
About the Author:
This guest post was written by Michael. Relying on his many years of experience in the finance industry, Michael has written many instructional articles explaining how to compare savings accounts, credit cards and how to manage personal finances generally.