Saving Grace – 7 Simple Tricks to Save Money Without Changing Your Life (too much)

If a stranger came up to you and offered you a couple hundred dollars a month to make only the most minor of changes to your lifestyle, you’d probably take it, wouldn’t you? At the very least you’d give it some serious thought. So, why is it that we have such difficulty in motivating ourselves to make some of those trivial adjustments to our habits that can save money? Perhaps it’s because money saved doesn’t come with the same buzz that’s associated with funds hitting your bank account? Maybe it’s merely the comfortable inertia that most of us have with our regular routines and habits? Whatever the case, most of us can make a tangible difference to our monthly finances with minimum effort. Here are a couple of simple ideas that you can implement to make a real impact on your bank balance with minimal effort:

Where Credit’s Due

Consumer credit is a monumental drain on many household budgets. Credit cards, digital lay-buy services that allow you to buy now and pay later, payday loans and a host of other easily accessible sources of finance can offer convenience. However, the interest payments or charges end up costing you far more than the initial cost of whatever it is that you paid for. In months to come, you’ll find your disposable income eroded as more and more of your cash goes to servicing that debt. Consider going on a “credit fast” for a month or two and only using the money that you have in your account. This might mean delaying purchasing items you’ve got your eye on, but you’ll be in a far better position to afford them when your credit is under control. If you’re still struggling to cover your monthly bills, then check out whether you’re eligible for a Speckle small loan. We can provide you with up to $2000 repayable in 3-12 months with fees of less than half of other options such as payday loans.

Where’s the Beef?

Whatever your opinion regarding the vegan protestors who shut down a major Melbourne intersection recently, the reality is that prices of meat have been rising steadily in Australia for some time due to the drought, rising fuel and energy costs and numerous other factors. Fortunately, prices for veggies, fruits and grains have remained relatively stable, especially when purchased in-season. Whether you opt for Meatless Mondays or replace a couple of meals throughout the week with veggie options, you can quickly reduce your monthly food expenditure. Additionally, cutting down on meat is good for your health, and exponentially minimises the risk of your home being occupied by radical animal rights activists.

Vice Aint So Nice

As we’ve detailed in a couple of recent posts, too many people in Australia spend way too much money on habits such as gambling, drinking and smoking. No one is saying that you have to live like a Buddhist monk. However, cutting down on these vices can put a surprising amount of money back in your pocket. If you’re the kind of person that needs a bit more structure to make things work, choose a week a month to take a break from the turps, smokes and punt, and then calculate how much money you’ve saved to keep you motivated for the next month.

Power Rangers

The cost of electricity has become a defining issue in Australia social, economic and political spheres. With a Federal election looming, it’s conceivable that energy policy could determine the direction of our country. The higher prices rise, the more you stand to gain by reducing your consumption. Ludicrously simple strategies such as turning off the lights, telly, computer when not in use can become money saving habits once you’re used to them. For extra credit, use your clothes dryer only when absolutely necessary, set the thermostat on your fridge just a degree or so higher and do the same in whichever direction is appropriate with your heating and cooling. You will be amazed at how little difference any of this makes to your life, compared with the visible impact on your monthly or quarterly bills.

Endless Efficiency

Another way to save on your power bill is to ensure that your light bulbs are all switched to energy efficient options such as LEDs, and appliances such as fridges, dishwashers, washing machines and dryers have higher energy ratings. True, each of these options entails a higher initial cost, but in most cases, this will be recouped very quickly. LED light bulbs use up to 75% less energy and last 5-10 times longer than halogens, delivering a payback timeframe of less than 1 year. Check with your local or state government to find out whether any assistance packages are available to help make this switch even simpler and more affordable.

Keep ‘Em Honest

Are you getting the best deal on your utilities, credit cards, health insurance and other bills? It may require some research leg work, but in many cases, you may find that you can save a packet by merely switching providers. Sure, it can be confusing and time-consuming, but the positive financial impact will often be well worth it.

Shopping Drop

There are so many ways to save money when grocery shopping, we’d require at least another whole blog to cover them (stay tuned for that one!). For the sake of brevity, here are just a few ideas that can wipe big bucks off your supermarket bill:

• Never shop on an empty stomach, you’ll end up buying more than you need.
• Buy frozen veggies. They’re cheaper, last way longer and, according to dietitians, are just as healthy as fresh.
• Lay off juices and soft drinks. Water is pretty much free, better for you and provides superior hydration.
• Having said that, don’t buy bottled water. Get yourself some reusable bottles to fill and keep in the fridge.
• Always look for what’s on special and stock up on items that you eat or use regularly.

These are just a few strategies that almost anyone can employ to keep money where it belongs: in your bank account. If you need extra help getting through a cash-flow crisis, give us a call and find out whether a Speckle fast cash loan is right for you.