When looking for easy and quick ways to save money, we have got you ten practical tips in this guide to help you start saving funds right away. Whether you are trying to build up your savings for a rainy day or saving for a specific goal like a house deposit, these are simple things that you can start doing with less disruption to your current lifestyle.
Save Money On Shopping
1. Compare Online Stores Before Buying At Stores. Retailers often have items at a discount in their online store, which may not be available in their physical stores. Before you intend to buy something at a store, check its price online. You can even ask the retailer to match the price.
2. Unsubscribe From All Those Marketing (Promotion) Emails. If you are receiving emails every other week or every other day from online retailers or discount sites with their latest offers, it is time to unsubscribe. If you are not receiving such emails, you would not be tempted to buy things you do not need now.
Save Money On Food And Drinks
3. Buy Groceries In Late Hours. Often fresh produce goes on sale in late hours of the day to avoid waste. You can grab this opportunity to buy things like fresh bakery items and meat for half price.
4. Use Reusable Cup To Buy Takeaway Coffee. Reusable cups not just help to conserve the environment but can also save money. Many cafes offer a discount to customers who bring their cups.
Save Money On Your Finances
5. Claim Eligible Tax Deductions. Learn what you are entitled to claim and when submitting your tax, make sure you claim it as a deduction.
6. Set Yourself A Realistic Budget. The very first step to saving money is to know how much you can practically save. It is essential to work on your expenses (including the smallest details). You will get a better idea of how much room you must save every month.
7. Find Your Lost Superannuation. If you have moved houses, changed names, or had more than one job, you may have some super – it could be a few hundred or thousand dollars. Please find the details through relevant channels and bring them home.
8. Set A Salary For Yourself. Each time you get paid (weekly or monthly), get into the habit of transferring a portion of your salary into your savings account. Think of it as a non-negotiable payment, like your other recurring bill or expense.
Save Money On Daily Lifestyle
9. Use Energy Efficient Appliances. Using energy-efficient appliances right from heater to coffee machine will significantly affect your power bill. You can check the energy-efficient products by reviewing the star-rating label on the device. The more stars mean, the more energy-efficient the equipment is, and the more you are likely to save.
10. Leverage Early Bird Discounts. Being more organised will help you save money. When you book ahead on concert and festival tickets, you will often find early bird discounts.
Our Two Cents
Compare Everything. This is a good habit. Comparing your options will save you money, whether your energy provider, credit card, or savings account.