I stumbled on a crazy program on TV the other night (Extreme Cheapskates) about people in the States that go to extraordinary lengths to save money. There is no way I would ever be that radical in my saving habits, but I have come across some pretty handy tips to help save a little extra cash:
- Master the 30-day rule. We definitely live in a society rife with instant gratification - getting credit for bigger ticket items is relatively easy, but is it necessary? If you see something you think you can't live without, wait 30 days. More often than not, your 'buy now' impulse will have passed after this time, and you will have a better perspective as to whether or not you actually need that new gaming console/pretty handbag/shiny bike.
- Avoid convenience and/or fast foods. I've often heard people bang on about how expensive it is to eat healthily (sigh) but if you buy fresh fruit and veges in season, and buy staples in bulk you are saving not only on loose change, but your waist line as well.
- Quit smoking. Enough said.
- Buy quality appliances that last. While the big red shed may have a bargain, chances are you will be replacing whatever you have bought pretty soon. Spend a little more initially to save a whole lot in the long run.
- Cut up your credit cards. Unless you are totally disciplined, and pay off your credit card bill in full every month, don't use them. If you don't have the cash to spend, you can't afford it.
- Check out free events. We are lucky enough to live with easy access to gorgeous beaches, parks and sports fields. Instead of spending a fortune at the mall and movies, take the kids to the beach and slide down the sand dunes (Lake Wainamu on the way to Bethells Beach is awesome for this!).
- Plant a vege garden. Seeds are so inexpensive, and your garden doesn't need to be huge - even a couple of pots with some lettuce at the back door would suffice.
- Pay by cash. Take out an amount of cash each payday, and spend only that. It is far easier to spend using EFTPOS, where you can't physically see your money disappearing, than it is to watch the notes in your wallet vanish.
- Loose change. At the end of the day, empty your loose change into a container - watch it grow over the year! Once a year, pop it into the bank, don't just spend it on something frivolous (haven't you been listening?!)
- Shop around for your House/Contents/Car insurance (you know we can do that for you now, right?)
Alternatively, you could go the extreme route:
- Let your facial (or body) hair grow to save on razor blades (those things cost a fortune!)
- Wash your clothes while you are showering
- Have a BBQ and invite all your friends, ask them to bring a plate and tell them it's BYO booze - bingo, you now have dinner and drinks supplied, because everyone always brings more than they consume!
- Tell your mate your washing machine is broken, and ask to borrow theirs. It should work on each friend at least once (this will obviously only work if you have actual friends).