Money: five everyday reminders to save more

These small changes can make much difference to how much you save.

Thick stack of Australian bank notes clipped together

Where does your money go every week? Spending has become so easy most of us don’t even realise how often or on what we spend our money. While spending small amounts may not appear to have much bearing over time, it can end up costing you more than you realise. Paying more attention to your spending and making small changes here and there can make so much difference. Here are five everyday tips to help you save more.

Tip 1: Make your first cup of coffee at home
A coffee can cost between $3 and $5 a cup, so the cost of getting your morning caffeine hit can add up extremely quickly. By simply giving yourself an extra 10 minutes in the morning to enjoy your coffee at home, you’ll stand to save around $100 every month. That’s $1200 per year in just coffee!

Tip 2: Check your bank statements
Unfortunately, many people don’t keep track of their spending or check their bank statements each month. It’s easy to assume your bank is looking after your money properly, but there’s a small chance that you could be being charged in error by companies who are known to tack on excess or unknown fees. For example, did you realise that Uber tacks on an minor service fee on top of your travel cost? Also, lookout for bank fees and charges from services (such as that gym membership) you thought you’d cancelled. Another reason to check your statements is to see where your money is going. You might not even realise how much money you spend on those little day-to-day things and seeing them listed can be a real eye opener.

Tip 3: Track your spending with a budgeting app
With a multitude of great budgeting apps available to download on your smartphone, you can manage and track your spending with ease. Most apps will allow you to connect all of your bank accounts so you can see exactly where your money is going, giving you an accurate reading of your financial status and helping you understand your day-to-day and long-term spending habits.

Tip 4: Hit the ATM
Don’t credit and debit cards make spending so much easier? In fact, in some cases it’s even easier to spend, especially when you don’t even need a card in order to make purchases – because in many places you can now spend money by simply scanning your phone! This is where budgeting and using cash will save you. To avoid excess spending, hit the ATM at the start of the week and withdraw the amount you’ll need, adding a small buffer for emergencies. Carrying cash will force you to spend your money more wisely – when the cash ends, so does your spending.

Tip 5: Plan before you shop
Before you do the weekly shop, plan ahead by writing a list of exactly what you’ll need to buy. To grab the best deals, before you shop, look through catalogues to find out whether supermarkets are running specials on the groceries you need. It also pays to do your research and know which groceries and supermarkets carry particular items at a cheaper cost – a little more running round will be worth the cash you save in the long run. Finally, be sure to have a snack before you shop – there’s nothing like shopping on an empty stomach to encourage excess spending.

What tricks do you use to help save you money?



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    13th May 2016
    Just "Nimble it" and move on.
    13th May 2016
    Been doing most of these for years..... have been doing online banking for 20 years so can manage without the new fangled "apps" which I do NOT trust. Coffee out is an odd occasional luxury, and as for doing grocery shopping lists I have been writing weekly ones of those using online catalogues for years. If anyone has any NEW ideas that would be great!
    East of Toowoomba
    13th May 2016
    Agreed Mamacrystal, been doing all of the above for years, as well as Circum's tips too. Is there anything new to learn on the subject?
    13th May 2016
    I think many of us have been using common sense and accumulated knowledge for many years, East of Toowoomba. Something new would be wonderful :)
    13th May 2016
    Agree re coffee, I personally do not understand the obsession with buying coffee. It's nicer and cheaper to invite friends to your home and boil the water.
    13th May 2016
    I get my coffee at 7/11 costs $1.00
    13th May 2016
    No 7/11 within cooee of me, and I am a bit put off them anyway, with all the publicity about their incorrect payment of staff they employ.
    13th May 2016
    -Ditch pay tv.
    _Ditch mobile phones/iphones etc.These are money burners.
    _Bank 10% of any income including pension.Yes it is possible.
    -Second hand shops can be fun as well as finding a bargain
    -If a pokie player,play one line at a time and set a limit.
    _Mainly prepare your own meals at home.For some this may mean learning how to cook.
    _If you havent got the cash to buy it then dont buy it.
    14th May 2016
    Might as well curl up and die.
    14th May 2016
    Circum my Android phone is NOT a money burner. I own it and get unlimited phone calls and texts for $40 a month plus 3gig of data each month as well as 2gig of data to be used every weekend in a month. It's prepaid with automatic roll over and costs me $40 a month. That's lots cheaper than any landline deal. I use my Android phone as my computer and have virus and malware protection installed. I go to second hand shops. I also don't drink drive smoke or gamble. It's an old notion that mobile phones are money burners.......
    13th May 2016
    I save by buying in bulk online with free delivery. I cook all my meals at home. I gave up coffee and eating out. I use to spend over $20 a week just on coffee and snacks. I am learning to be more frugal so I can save for bigger things. This year I needed a new fridge for example and I had the money, a few years ago I could never save. I also cut down on driving my car and going places just for the sake for going somewhere. I enjoy being at home more, working in the garden and baking my own bread. Very rewarding when you stop relying on buying everything ready made.
    13th May 2016
    My position now is that before I buy something I ask myself it it's a want or need.

    Clothes are so cheap I have more than enough, I don't need household goods as my current stuff is ok, groceries, I've discovered Aldi - save heaps.
    14th May 2016
    I ask myself before spending : do I need this? Why? This saves a lot of money.

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