7 Money-Saving Hacks On Everyday Expenses

If you’re like most people then you may have spent a little too much on gifts, food, travel and entertainment during the festive season.

Saving money at this time of year is non-negotiable for many, especially when you have children. But believe it or not - saving money does not necessarily involve making drastic changes to your routine.  

The key to saving money is to change one habit at a time. Implementing little changes makes a big difference to your bank account. It is a bit like going on a diet in which you swap white sugar for a healthier alternative like honey.

If you’re looking to alleviate the feeling of a credit card hangover, below are 7 money-saving hacks that you can implement anywhere, anytime.

1.   Clothing

?              Shop during the end-of-season clearances. A way for you to know when there is a sale on is to subscribe to a store’s online newsletter.

?              Check labels on each clothing item to know if they require maintenance. You want to look for items that can be washed without the use of hot water or a dry cleaning service. 

?              Find versatile items that can be worn with at least two other items in your wardrobe.

?              Op-shops may not sound appealing to everyone; however, you may be surprised at what you can find. Not only you will save money but you’re also supporting a charitable cause.  

2.   Groceries

?              Take a shopping list and only purchase what is on your list. Find a method that works for you – whether it’s a notepad or your smartphone.

?              Plan meals in advance to avoid overspending and food wastage.

?              If you have young children, ask a friend to mind them while you go grocery shopping. This gives you time to compare prices and not fall victim to wondering little hands adding items to your shopping trolley.

?              Avoid the temptation to overspend by setting a budget and withdrawing cash from an ATM to pay for your groceries.

?              Try growing your food at home. There are plenty of low-maintenance vegetable gardens on the market.

?              Do not shop on an empty stomach as you tend to overspend when you’re hungry. To avoid the temptation to overspend, eat a meal or snack before you do your grocery shopping.

?              Buy sale items in bulk, especially meat because you can cut them into smaller portions and freeze them for later use.

?              Swap brand named items for generic items.

?              Get into the habit of shopping once a fortnight to train yourself to be resourceful by using all the items in your panty before buying more.

?              Be wary of marketing tactics while grocery shopping. Always check the top and bottom shelf for the cheaper alternative items.

3.   Electricity, Water & Gas

Electricity

?              Make it a habit to turn off appliances at the powerpoint when not in use.

?              Turn your stovetop or oven off just before your food is done as the residual heat will continue to cook your food. Do this regularly and it will make a difference to your electricity bill. 

?              Avoid using the dryer by hanging your washing outside. Use clothes rack during rainy days.

?              Wash clothes with cold water

?              Make it a habit to use the washing machine and the dishwasher with a full load.

?              When using the air conditioner, place a door snake under the door to seal up any gaps or cracks around your windows to help conserve electricity.

?              Lower the temperature on your water heater.

?              Avoid using the heater by layering warm clothes during winter.

?              Use a hot water bottle instead of an electric blanket.

?              Compare energy suppliers to make sure you’re getting the best deal. Click on the link below to visit The Australian Government's Energy Made Easy

                 https://www.energymadeeasy.gov.au/

Water

?              Take shorter showers.

?              Turn off the tap while brushing your teeth or shaving your face.

?              Install a water-efficient showerhead and a dual flush on your toilet.

?              Take the leftover boiled water from cooking (vegetables, pasta, boiled eggs)  and use it to water your plants.

?              Use greywater from your washing machine or shower to water your plants.

?              Plug the sink while running the tap to rinse your fruit, vegetables and even while cleaning your dishes. 

?              Fix plumbing leaks around the house. To assess a leak, make a note of your water meter reading and re-assess your meter after a couple of hours of not using any water. If the reading has changed, then you know you have a leak. 

Gas

?              Consider installing solar panels with a gas booster. This allows the sun to heat the water during the day and the booster to work during a cloudy day.

4.   Eating Out

?              Reduce the number of times you go out for dinner.

?              Reduce the number of times you order takeaway coffee.

?              Order tap water instead of purchasing drinks.

?              Choose a cheaper alternative on the menu.

?              Choose a cheaper alternative for dessert elsewhere instead of ordering at a restaurant.

5.   Travel

?              When searching for a hotel, search online for direct deals on each hotel as hotel comparison sites do not always provide the cheapest price.

?              Choose flights before 8 am or after 8 pm. Public holidays (Christmas, New Year’s Day) and off-peak seasons offer cheap flight deals. 

?              If travelling as a group, an apartment room can be cheaper than a standard hotel room.

?              Search for discount passes for activities such as galleries, museums, tours and public transport.

?              Browse through tourist brochures as they may have two-for-one deals and other offers.

?              Seniors over 60 years old can access a discount on food and transport. Even if this offer is not advertised, it doesn’t hurt to ask the retailer.  

?              If you plan to travel to Australia, you can access low-cost meals at bowling clubs and RSLs. Also, you can buy a meal at a great price at a shopping centre food court. The best time to visit is just before closing time as they tend to heavily discount meals.

6.   Fitness

Without a gym membership:

?              Do a Youtube search on home workout videos. You will be surprised by the sheer number of workouts you can do at home.

?              Take advantage of free outdoor exercise equipment at local parks. To find one near you, click on the link below:

https://freeoutdoorfitness.net/australia/

?              Download free fitness apps to help you stay on track with eating and exercising.

?              Team sports, boot camps or group personal training are cost-effective ways to get fit. 

Before joining a gym:

?              Shop around to get the best gym membership deals. With an increasing number of gyms around, you’re bound to find one that suits your budget.

7.   Bank Fees

Enquire with your bank for cost-effective account alternatives. Below is a list of options that you may want to consider:

?         No account keeping fees

?         Free monthly statements

?         No minimum deposit amounts

?         No overdrawn fees

In Conclusion:

Saving money does not mean you have to drastically change your lifestyle. It’s the little changes to your routine that add up.

Are you saving for something? If so, what tips are you implementing? Let me know your thoughts by writing your comments below.

Have you got a financial goal that you would like to achieve? Phone me, Benjamin Collins on (07) 3041 1382. Alternatively, send me a message on LinkedIn.