Money 70 budget hacks

Fallow these money tips to become the savviest you yet

1 Understand your starting point “Work out your current net position,” says financial adviser Helen Baker. “List out everything you own and everything you owe (include interest rate, loan period and repayment amount).”

2 Lock in your savings If you have a holiday or something you’re saving up for, go into your bank and block yourself from accessing your savings account. Of course, make sure you have funds until the splurge, but this will stop you spending unnecessarily prior.

3 Delete the food delivery apps We’ve all jumped on the bandwago bandwagon n with the latest food delivery services, s, but they make it too easy when we’re re too lazy to cook – and usually end up being pricey! It’s simple to say cook k instead of eating out, but we assure e you, deleting these apps will be a blessing to your bank account.

4 Grocery shop after work... It’s It’ t tempting ti t to avoid id b boring i jb jobs lik like doing a supermarket run after a long day, however perishables are marked down at the end of the day so do a smart shop at night! Make sure you have a shopping list, to cut down on buying unnecessary items, and you’re sure to slash your bill.

5... and when you’re full! If you’re hungry while grocery shopping you’re guaranteed to want to buy more, whether you know it or not. So don’t go on an empty stomach, people! ple!

6 Cancel unnecessary subscriptions Do you need to be a member of all the movie-streaming websites? If not, pick your favourite and ditch the rest. The sooner you do this, the sooner you’ll see money in your account that didn’t need to be wasted.

7 Unfollow on social media “It’s so easy to spend today – throw in a little bit of scarcity mentality and comparison culture and we’re almost propelled to spend,” says CEO of accounting firm A&TA Melissa Browne. “Unfollow brands where you know you’ll click to spend on social media.”

8 Rounding up to save With every lunch or coffee shop charging different prices, most of us get left with all this unwanted change. By downloading an app such as Acorns (banks like ING also have similar initiatives), it will round your purchase to the nearest dollar and put the change in savings. Basically, it’s a handy, electronic piggy bank, which will add up before you know it!

9 Reuse coffee cups Not only are these good for the environment, some cafes offer discounts when you BYO cup! 10Check you’re getting the cheapest price More than likely, that item of clothing you love is sold in more places than one, with differing price tags. With more expensive purchases especially, always shop around to make sure you’re getting the best deal.

11 Consider cost per wear Will you wear that top again? Are you getting the most use out of that item of clothing? Consider these questions when buying clothes, then you’ll be confident with your wardrobe and wallet.

12 Meat-free Monday Take your vegetarian friend’s advice and give up meat for a day. You’ll find you have a variety of new recipes to try, and these dishes are comparatively cheaper. You’ll be benefiting yourself, the environment and your bank account. Winner!

13Carry around big notes It’s said if you carry cash you’re likely to spend less. Try carrying $50 or $100 notes, and you might be more inclined to monitor spending.

14 Keep a social calendar It’s stressful saving while being social, especially when there are birthdays, holidays and celebrations you need to be prepared for. Start keeping a social calendar so you know when you need money. This will help you keep track of those purchases, meaning you’re more likely to resist the urge to impulse buy.

15 Go for pub specials We all love dinner out with friends friends, but before you do, shop around for the best deal first. With all of your favourite pubs having a different dinner special every night, you can enjoy a delicious meal with wine – without ut the breaking the bank.

16 Go for generic We know sometimes you prefer your our favourite brand, but when it comes s to boring household products or less important food items, go for a generic brand. It’s definitely cheaper, and you might find it’s just as good.

17 Focus on versatile food buys Plan ahead and buy foods that can be used for various meals throughout the week. Find ingredients you love for more than one meal, and stock up for the week. Shop smart and you’ll save money plus avoid wasting food.

18 Ask for a discount... You don’t get if you don’t ask. Call your mobile phone provider, insurance company or any regular biller and ask for a discount. You might end up paying less!

19 Sign up for surveys You can make anything from $10 0 a week to $5000 a year by taking ing part in paid online surveys. Just t make sure you do your research ch as to which ones es you should usse use and who forks out the most!

20 Be kind to yourself If IFI you need a monthly massage m to make you feel fe good, that’s totally fine, fi but just make sure you yo factor that into your budget b as well, just like you y would your utility bills and rent. Saving doesn’t have to be a punishment!

21 Sleep on it Take a day to think about bout and rationalise a purchase. chase. You’ll likely convince yourself you don’t n’t actually need what at you wanted to buy.

22 Buy used... Try searching sites like ebay and Gumtree when you’re looking to make a purchase. You might find the exact product you want significantly cheaper than if you were to buy it new.

23. ..and sell second-hand Similarly, if you have some household items you want to throw out, try selling them on ebay and Gumtree first, so long as they’re still in usable condition. Why not declutter while making money on items you no longer need?

24 Turn it off Always turn off appliances at the power source, and switch off lights whenever you’re not in the room. You could even try candles as lighting for an evening, if you really want to save every cent. Bonus: it’ll give your space an ambient, relaxing vibe!

25 Talk money Being upfront with your nearest and dearest about your budget not only lets them know where you’re at – and why you can’t afford that night out! – but you could also have the opportunity to trade some savings tips!

26 Meal prep If you buy a $ $15 15 lunch on averag average three times a week, that’s around $2000 out of your pocket every year. You can make your own lunches for much cheaper, and they’re often the healthier option, too!

27 Beware the points “If you can’t pay the card off when the credit period is due, then don’t be fooled by the free points,” says financial adviser Helen Baker.

28 Get a library card Instead of splashing cash on new books every few weeks, why not rent them out from a library instead? Most local libraries let you borrow for free, too!

29 Unsubscribe from offers Subscriptions to online retailers can see your inbox clogged with tempting promotions and sales. If you find it hard to resist, unsubscribe so that messages of “50% off” don’t see you fall off the savings wagon.

30 Don’t smoke “It’s very expensive and it also makes your insurances more expensive,” says Helen. “One client saved $20,000 a year by quitting, and these funds can be directed towards holidays or positive experiences instead.”

31 DIY as much as possible Try to take on as many jobs around the house as you can. Try repainting your interior yourself, don’t pay for a cleaner, and so on. Obviously DIY within reason – you don’t want to hurt yourself or cause any damage.

32 Use discount code apps If you do find yourself desperate to make an online purchase, install a browser extension like Honey ( joinhoney.com), which scans the web for the best discounts for particular sites.

33 Do a 30-day financial detox Focus on a month of only buying essential items. “Doing this twice a year to reset your spending habits [can help] move you towards becoming a conscious consumer, consumer,” says Melissa.

34 Review your debts “Speak to your bank or a mortgage broker to ensure your debts are structured as efficiently as possible and you are minimising the interest you’re paying,” says Helen.

35 Add mystery If you sign up to be a mystery shopper, you just might get the opportunity to visit restaurants, which ch means you could score a free meal! !

36 Buy quality appliances They might put you out of pocket to start with, but investing in good-quality electrical appliances means you won’t have to re-buy every few years, especially as cheaper models break down more quickly.

37 Wash your hands This will help you avoid contracting any bacteria and viruses, which means money saved on medical bills.

38 Be super savvy “Figure out how many superannuation accounts you have and combine them into one account – preferably a low cost industry fund,” says Melissa.

39 Check super options Once you’re in the best fund, you might want ant to opt for a “growth” investment option to get more returns over time, compared with a “balanced” option, which is lower. All come with pros and cons, so check with an expert!

40 Cash envelopes Create envelopes for each bill or expense for that pay period and place the amount of cash you need in it. Once it’s gone, you can’t spend any more and you’ll curb overspending.

42 Split it up “Set up separate bank accounts and make regular contributions for holidays, school fees, Christmas etc. so the money is already there,” says Helen.

43 Lifestyle leakage “Develop “Dedevelell awareness ness a around o nd potent potential ‘lifestyle leakage’ – the little bits we spend each day can add up very quickl quickly,” says Helen. “Track and record your lifestyle spen spending on a daily basis fo for at least 30 days.”

44 Rethink your bank “Is your bank currently helping or hindering you y manage your money?” asks Helen. “Do you know what you’re you paying in account fees?”

41Deal or no deal “Every month choose a regular spending item and challenge whether you can get a better deal or if you’re still using it,” adds Melissa. “This might be an app, your mortgage, your telephone, internet, gym, food, transport or more.”

45 Rent it out If you’ve got a room you’re not using at home, rent it out! It can be short or long term, whichever suits you best. Try sites like airbnb.com.au and flatmates.com.au

46 Become an Uber driver If you have some spare time, perhaps in the evening or before work, why not sign up to be an Uber driver?

47 52-week challenge You can save $1378 a year by following this challenge. Start by depositing $1 in week one, $2 in week two, $3 in week three and so forth until you get to week 52, where you’ll deposit $52.

48 Switch off your TV There are 1001 ads on television telling us to buy this, that and the other, and often we might be tempted to. So, turn off your telly and y you won’t feel the urge g to spend! p

49 Loyalty clubs Look L kf for brands b d that th t offer ff loyalty l lt schemes so you can score discounts or even free products when you spend a certain amount.

50 Ditch the IOUS Download D an app like Splitwise with your friends fri and family, so if you cover the cost co for them, it automatically notifies them the what they need to pay back. No calculator cal or good memory needed!

51 Do your tax Be sure you’re claiming everything ev you possibly can to increase your chance of a healthy h return. Don’t forget to claim donations to charities – –t these are all tax deductible!

52 Cut extras Ditch all the extras you don’t need on your health insurance to reduce your monthly payments.

53 Always repair Before throwing out a ripped shirt and having to fork out for r a new one, try repairing it. Alterations cost significantly less ess than a new piece of clothing.

54 Do a swap Get your friends together for a clothes swap. You don’t exchange money, just clothes for clothes. You can do this with other items too, like books or DVDS.

55 Use halogen lights Instead of traditional bulbs, using halogen bulbs in your lamps and lights can save on energy ergy bills. They’re up to 25 per cent more efficientit efficient and last three times longer! g r!

56 Volunteer By joining a volunteer program you’re not only doing a good thing, it’s a free way to meet new people and explore a passion!

57 Ten-second shopping rule Whenever you’re adding items to your shopping cart (online or in real life), just take 10 seconds to ask yourself why you’re buying it and whether you actually need it. If you can’t come up with a legitimate answer, put the item back!

58 Breakfast over dinner Try catching up with friends for breakfast instead of dinner – it can be much cheaper but it’s just as social!

59 Less is more When Whe buying clothes, make sure every item goes with the others. You might have a handful of pants and shirts you can mix and match to save you having to constantly buy new additions for outfits. tfits.

60 Cut your own hair Obviously within reason! But if you only need a little trim and feel confident giving it a go, do it!

61 The big freeze Invest in a big freezer so you can bulk buy, and freeze it until you need it. No waste of food or money!

62 Make your own booze Y You can b buy ki kits to make your own beer and wine, which might be more expensive than a six-pack to start with, but will be cheaper over time!

63 Avoid toll roads If you go through toll areas on your way to work, try opting for a different route. That $4 here and there does add up!

64 Check out community noticeboards Find out what’s going on in your area – it could be the ticket to a free and fun night out!

65 Listen to podcasts Spend your time on the bus, train or in the car on the way to work listening to experts talk about how to save and spend money effectively. Check out the App Store for options.

66 Abide the law ThisTh should be a given (of course!) butbu when it comes to things like parking,pa make sure you check the timeti limit to avoid a costly ticket, anda don’t go over the speed limit to avoid a hefty fine and protect everyone’se safety.

67 Check your tyres By ensuring your tyres are inflated, you’ll waste less petrol because the flatter your tyre, the more petrol your car will use!

68 Move house If you’re renting and spending more than you’d like to, look to cheaper suburbs! If you have a mortgage, you may be able to sell or refinance to save more.

69 Ask friends for help If you need a hand doing something around the house you might usually spend money on, like weeding your garden or cleaning the house, ask your friends and family for help first.

70 Halve your public transport costs Where possible, try getting off the bus or train halfway through your journey and walk the rest to save a few extra dollars. Even three-quarters of the way might help!