It’s never too late to start saving!

There are many ways in which you can save money purely by adjusting your spending habits and understanding the art of getting the best bang for your buck – and we're going to show you how!

You might feel as though you’re stuck in a rut with a budget that is hardly adequate in relation to your income! You may even be at a complete loss on where to even start when it comes to “tightening the belt”. Well, the beauty of this situation is that it doesn’t necessarily mean that you need to now start buying cheaper crisps and dishing up only one potato as opposed to the two you’ve come to know and love!

Making your money go further

Managing a household budget isn’t for the faint-hearted, and yet it doesn’t really matter what heart you have, because it’s a responsibility that falls upon everyone who has an income and hungry mouths to feed and look after! With everything increasing in our daily lives, such as food, fuel, uh, did I mention food and fuel? These are massive expenses that have to be taken into account and with monthly spending and costs creeping up and up, we have to establish ways in which to stretch our money and get it going further to better suit your savings goals.

Saving on groceries by taking advantage of specials

The first way that we can all go about saving is to look out for specials! This is an easy one when it comes to your groceries for the month. Many people tend to wait until payday and then hit the shops to buy a full month’s supply in one go. So, whilst you’re shopping and can’t get through the aisles due to how many people are milling about with their oversized trolleys, you haven’t even felt pain until you reach the back of a queue and the great wait begins.

Try to kick this habit and split your monthly shops into weekly shops and read every grocer’s pamphlet and circle the items that you would normally stock in your household and go buy those things at a discount. Furthermore, if it’s a crazy special, such as a Black Friday special or a after Festive season special where the deals are exceptionally good – do yourself a favour and buy bulk.

Cut down on the household expenses

• Don’t take for granted that the energy retailer you’re with is offering you the best deal on the market. Shop around, you could save up to half of your bill by doing this exercise!
• Certain items in your house could be massive energy drainers, and it’s up to you to establish which ones those are and get rid of them by replacing them with energy-friendly appliances. Geysers are a big one – make sure you have the right size geyser, if it’s too large, chances are you’re wasting a lot of electricity with this bad boy heating up when it’s full. Just replacing your washing machine and dishwasher, for example, could save you huge amounts of money every month.
• You’ve probably got the same internet account that you’ve had for ages and why not? It was such a mission, in the beginning, to get it all set up, why would anyone want to fuss with changing that up? But the truth is that when it comes to technology, there are deals coming out all the time, and it would serve you to suss these deals out with other providers on an annual basis. You can also see if you can restructure you home loan or vehicle finance for a better deal.

You’ve heard it before - Go Green!

Yes, I have! But how? Where have you been, it’s simple! Do the following:

• Get roof insulation
• Install rainwater tanks
• Replace your oil heaters with gas heaters
• Go gas for your appliances in general
• Switch off all appliances that you aren’t using
• Switch plugs points off at night
• Replace your light bulbs with energy saving bulbs

Bear in mind that the Government has a tax rebate program for households that go green, so while you’re saving money in your home, you’re also earning money!

Save on your insurance 

• Everyone’s in the habit of renewing their insurance policy as the anniversary date rolls around, but this time, try something different. Shop for a better deal! Once again, insurance companies are competitive in what they offer and at what premium they’re willing to give. Often times if you come back to your broker with an offering that was better from another insurer, they’d be willing to match it just to keep the business, and that’s a known fact!
• Home insurance, health insurance, you name it – all of these policies can easily get their premiums reduced if you just stop simply accepting that you’re getting the best deal and challenge your insurer or broker to offer you a better deal.

Save on banking fees & charges 

Bank charges are an unavoidable burden, but they don’t have to be as high as you may think.

• If you’ve been penalised for something – i.e. being overdrawn on your account for the first time, ever! It was due to a deduction you hadn’t budgeted for and are willing to bring the balance into a positive straight away, you most likely can get away with requesting a refund of the penalty fee from most Australian banks.
• If you're paying high bank fees and changes on personal loans and credit, look at changing your account type or moving to a bank that offers more affordable options. If you're paying for a private banker but are never making use of the services offered, why not downgrade your account and save?

Get your fuel costs down

• There are service stations that will give you better prices on fuel than others on certain days and at certain times. The trick is to know who and when…check out accc.gov.au, they can generally inform you on which day of the week you'll get the lowest prices on petrol in your area.
• Look out for loyalty rewards as well. At certain service stations, it might actually PAY you to get your fuel from them!

Don’t let fashion drain your income

• When it comes to purchasing clothing, consider preowned clothing sites where items have only been worn once, or purchased impulsively and people are looking to sell at a lower cost than retail. You might pick something up that’s right up your alley for half the price because someone else wore it once and decided it wasn’t for them.
• Also, be sure to shop for specials and out of season shopping deals. Sure, you might be a season behind in fashion, but if you’re buying timeless pieces, it wouldn’t matter. So go ahead and shop for all your summer stuff at the end of summer when the sales are on and vice versa with winter!

So, there you have it! You're fully equipped with all the saving tips you could possibly need! The trick right now is to start right away! Go ahead and get started, because it’s never too late to start saving...!