Tuesday, March 31, 2009
Hints + Tips - Saving Money
Purchase things only with notes where possible and save all the coins in a jar, then every few months empty it out and deposit it all into your saving account. You’ll be amazed at how quickly you can get to $50. Over a 2 month period I can easily have up to $100 in the jar.
2. Put some aside
When your pay comes in try to save at least 5% but aim for 10% to be put aside into your savings. This can be hard sometimes but if you keep a routine after awhile you’ll hopefully not notice the difference. Start at maybe even 2% and over time build it up.
Make your own coffees/teas. When I was working in the city I use to have 3 coffees a day @ $3.20 each = $9.60 per day x 5 working days = $45 per week
Now I use instant coffee and tea bags at work now, my coffees may not taste as good as a great latte but they taste better than the worse lattes I’ve had. Why not jazz it up, with a nice mug/cup the represents you. Even use the money you’ve saved and get your self a little plunger.
4. Where does it go?
Have a look at where you money goes. Where can you make small changes? What can I save on by planning before hand? I realised that I was spending any between $25 - $60 per week on lunch now, I’m making a conscious effort to only buy my lunch once a week and bring my own in (usually left overs) on the other 4 days. I buy my canvases in one big trip generally I get a dicount, save time and reduce the amount of fuel I use.
5. Speak to your bank!
Most banks are happy to speak to you free about your financial goals. They maybe able to offer a product or service you didn’t know about that could be a useful tool for you. Also it’s a good way of doing a bit of a check up on your accounts and making sure your money is working hard for you.