12 Easy ways to save every month

If you’re looking to save money, there are easy strategies you can adopt every day to watch your dollars grow. By being a little thriftier, you can save thousands of dollars every year. Here are some everyday tips to help with your finances:

1. Bring your lunch to work – Depending on your daily lunch habits, you could save in excess of $5 a day by bringing a packed lunch to work instead of buying food. Bring in left-overs from last night’s dinner or pack some sandwiches.
2. Dine out less – It’s a nice treat to eat out, but eating out regularly will add up in cost. Cut down to once a week or fortnight and you will save tens of dollars a week. Or why not invite friends over instead and ask everyone to bring over a plate of food.
3. Join the local library – It is free to join the library and borrow books. Check out the services of your local library as some often also rent a selection of DVDs, music and have some events like readings for children, book clubs and film nights. Also consider joining a toy library for your kids, they can update their toys every month without it costing a fortune.
4. Exercise at home, in the park or at the beach – Rather than joining a gym which may have expensive membership fees. Also there will be the added benefit of being outdoors in the fresh air!
5. Cut down on coffee – Do you buy a coffee every day? Did you know that if you bought a coffee every weekday that in a year you will have spent $780 or more? That’s not including a latte on the weekends either. Consider cutting down to a couple of coffees a week, rather than every day, make your own instead, drink tea which has many health benefits.
6. Reduce Alcohol consumption and quit smoking – Apart from the health benefits of reducing drinking and smoking, cutting back or quitting altogether will save you tens of dollars every week.
7. Buy clothes on sale – Check out end of season sales, opp-shops, vintage stores and group buying sites for bargains and rare finds. When you buy a new clothes item, make sure it goes with a few other things in your wardrobe, thereby getting a few different outfits out of your one new item. Also don’t buy on impulse, you can often find you have bought something that you don’t really need.
8. Write down your spending – If you are unsure of where your money goes, keep track by writing down a record at the end of every day. You will soon notice where your funds are disappearing.
9. Be green, cut down on the electricity bill – Use power wisely and turn off lights and appliances at the power point when not in use. Let clothes dry outside rather than using a clothes dryer every time you wash. Only use the dishwasher when it’s full. Make sure you are getting the best deal from your electricity plan and use an electricity comparison service to see if you could be saving.
10. Plan your meals and write a grocery list – When you go shopping, buy generic brand products at the supermarket where you can, and always look for what’s on special. Buy in bulk and save money on discounts. Try not to go shopping when you are hungry, as you will tend to buy more than you need.
11. Review your health insurance – If you have a health insurance policy, make sure you review it once a year to ensure you are only paying for what you need. You might not be using all the benefits added your health insurance. If you don’t need all those benefits, you can look out for a health insurance policy that suits your specific needs, which could potentially help you in lowering your health insurance premiums.
12. Find a suitable, cost effective mobile phone plan – If you only use the internet occasionally, it may not be suitable for you to have unlimited gigabytes of data. Go for a cheaper option such as a pre-paid plan which can cost about $29 for calls, texts and some internet.

Start saving today by making some slight changes to your everyday lifestyle and you will be surprised how the money will add up over time. For more finance tips check out 5 Money tips for the new financial year.

Posted: 19 Sep 2013