Ten Women Share Their Everyday Saving Hacks
I have a confession. I’m pretty shocking with money. I try to be good, I mean I reuse take away containers for batch cooking and I even scrape out the bottom of my lippies with a cotton bud before buying another, that’s a start right? Maybe I’m just being a tight arse.
Regardless, with all the saving I’m doing, I still can’t seem to get on top of my finances. I need a new washing machine that doesn’t make my clothes dirtier than when they went in. And I’d love a sofa that isn’t held together by strategically placed safety pins. The sad reality is the only thing I’ve invested in lately is a filing cabinet for my unpaid parking fines.
Is this just me? Why can’t I save? Being frugal with my yearly lippy purchase isn’t going to get me my waterfront apartment anytime soon, so what will?
I asked a bunch of regular women to share their tried and tested everyday saving hacks with us all. Here’s what they said.
#1 Tara: Use a money tin
“I always put any coins I find – whether in the car, my pocket or bottom of my handbag – straight into a money tin. And I never touch it until I take it to the bank when it’s full. It’s very satisfying to see how much it all amounts to.”
#2 Victoria: Deposit your cash
“I’m paid in cash, which is disaster when I walk away with hundreds of notes begging to be spent. Now I stop by my bank and deposit all but $20 in my savings right away. Then go home and write down on a calendar how much I made that week so I can physically see my savings. Before doing this, I’d just spend money on crap and wonder why I was so broke.”
#3 Kate: Go generic
“Unless you have a specific allergy like lactose intolerance (eg, some pill formulas contain lactose) I always go generic in terms of medication as you’re literally just paying for branding. I notice this especially with something like Panadol or Nurofen where you can get a generic version from the supermarket much cheaper.”
#4 Lisa: Loyalty cards
“I’m a sucker for a loyalty or discount card! You’d be surprised how many companies offer them. My wallet is filled with all sorts, from Bakers Delight to cafés. It doesn’t take long to fill up your stamp quota and get freebies!”
#5 Polly: Bargain hunting
“I keep up to date with the specials at the bottle shop. Theoretically, I look like a bargain hunter, not an alcoholic buying three at once! I shop at Vinnies and markets for some great deals and also keep an eager eye out on those big item rubbish days. You can find some awesome furniture, especially in the trendy suburbs.”
#6 Merryn: No pay, no play
“I never give myself access to my full pay. I just work out what I need for essentials and stick to that. If I can’t afford to go out for dinner that week, I don’t. I also meal plan and food shop to my budget. I’ll stop there as I realise how incredibly dull I sound right about now…”
#7 Jenny: Budget and track
“Every day for an entire month, keep a record of everything that you spend money on under categories like food/drink, bills, clothing, etc. After a month go through and see where you could cut down on. If you can do it for three months it’s even more of a realistic indication of where you can save.”
#8 Sam: Stretching skincare further
“I’m a fan of cutting open moisturiser bottles when you’re nearly at the end and about to them throw away. That stuff’s expensive; you’d be amazed at how much cream is left in the tube. I usually get an extra week or two out of it!”
#9 Georgia: Protect yourself
“Life, disability or illness insurance is much cheaper through your super fund. You can salary sacrifice payments into your super fund to pay for the insurance premium inside your super, so you reduce your taxable income AND you have a low cost insurance. Win-win!”
#10 Annie: Pay yourself
“I’ve set up an automated transfer so that when I get paid, a chunk of money goes straight from my transaction account into my savings account. Once it’s there, I don’t touch it. I don’t miss it either, because I don’t even realise it was there.”
A published freelance writer from print to online, Katy’s passion is honest authentic writing. From the mundane experience to a sensational observation, Katy always finds a way to voice what she sees. Relatable and quirky, she writes with warmth and familiarity. She also loves lists, matching socks and edamame beans. You can find her on Twitter @whatktdidnextfw and Facebook.