Money Saving Tips
Budgeting is tough work. I know I’ve had many times when I’ve stressed out over how to make it all work with living expenses, bills and trying to save too! If you’re looking for ways to save on your monthly expenses but think you've already reached your bottom line, we've put together a list of the best money saving tips from the experts to help you trim a little more from your spending and reach your financial goals.
Avoid The Urge
Impulse buys have a sneaky way of adding up, especially when shopping online. So always use the site's search engine to find what you want. In a recent study, 87% of impulse buys resulted from browsing “categories,” because people were exposed to a wider range of enticing items. Search, buy, and close that window!
Try A Classic
Well-known in finance circles is the 50/30/20 plan. It takes a while to get used to it, but once you've got the hang of it, you'll hardly have to think about your budget. As soon as your pay hits your account:
- 20% should automatically go into a high-interest savings account
- 30% is guilt-free spending for clothing, entertainment, etc. including other expenses which you enjoy but aren't absolutely essential eg. Foxtel
- 50% goes to essentials, like rent, groceries, utilities and petrol etc.
Track Expenses On The Go
Easily track your spending with MoneySmart's TrackMySpend, an app that allows you to get a clear picture of what you are spending your money on. Better yet, it's free! Available for both iPhone and Android here.
Save on Fuel
Is the cost of petrol putting a dent in your pocket? Check out Motor Mouth, a quick and easy Australia-wide online search engine to help you find cheap fuel in your area. www.motormouth.com.au
Grow Your Own
Growing your own fruit and vegetables is not just savings-smart, but can also be fun for the whole family and gives you delicious organic produce. Many people start out using this as a strategy to save money and end up loving it so much, they have a whole garden!
swiish loves: DailyWorth.com a blog for women who want more net worth, self worth and more joy!