Now, more than ever, it’s important to manage your spending and save, save, save. Here are our tips to help you get there.
With these savings tips and tricks you don’t have to sacrifice life’s little modern luxuries to build your nest egg, and you’ll be on your way to that holiday, car or a new home in no time.
Date nights in
Dining out is quickly becoming Australia’s favourite national pastime – but a meal for you and your partner can easily cost $150. Don’t let your savings plans kill the romance and opt for a budget-friendly date night at home. Take the opportunity to cook a lovely meal with your partner and check out Netflix’s latest offerings. If you’re feeling particularly romantic you can even use the time to create a household budget.
Become your own sommelier
What’s a date night without a stiff drink? It goes without saying that the biggest cost of dinner and drinks is the latter. Avoid the extortionate markups on wine and enjoy your favourite drop at home. Go one step further and find great deals through your chosen wine club – you’ll always have a bottle on hand so won’t spend the usual $25 on your Friday afternoon bottle shop visit.
Say no to fast food
In 2018 Ubereats delivered over 83 million chicken nuggets to time-poor (or hungover) folks across the nation – so if you’re feeling embarrassed by your food delivery habit, you’re not alone. However convenient, relying heavily on fast food and food delivery apps for sustenance is a major money waster.
Breaking this habit takes a little more effort but you will be rewarded with a fatter wallet (and thinner waistline). Create a realistic meal plan and set aside time for meal prep and you’ll be on the right path.
Don’t forget lunch
It’s not just lazy dinners that are draining the bank account – your daily $10 sandwich is costing you over $2,500 a year. This is an expensive habit with a simple solution: leftovers. Doubling the serves for dinner will leave you with a tasty lunch the next day. Soups, casseroles, and chilis can even be frozen for Sunday dinner.
Don’t fret – You don’t need to go completely cold turkey on convenience foods, and when you do treat yourself to the occasional lunch or takeaway dinner it’ll taste a whole lot sweeter.
It may seem like an oxymoron but sometimes you have to spend money to save money. Our small daily spending habits may seem inconsequential at the time, but add up over the year – and investing in some gizmos and gadgets to break these habits will help you achieve your savings goals in the long run.
A bottle of water every morning before your commute amounts to $875 a year, and two small cups of coffee a day equals a whopping $1,600 a year. If you invest in a Nepresso machine to squash your daily coffee budget, you’ll break even in 2 months. And a $30 insulated water bottle will see you making savings in just two weeks.
Negotiate your rate
We’ve been led to believe that phone bills and electricity bills are non-negotiable – but it doesn’t hurt to ask. Do your research before you call, and find out the best deals going around, and simply ask if your provider can match it. Providers reserve their best deals for that last-ditch effort to keep your business, so push them to give you their best plan. If you’re an Organised Owen, a plan that offers a discount for paying on time is a great idea, just ensure you follow through.
Words by Nell Matzen