Maybe you’re a student, maybe you need to save up for a holiday, maybe you need to buy a car, or just want to start saving for a house. Whatever your reason may be, you’ve clicked on this article because you want to learn how to save money like a boss, and I’ve got some tips for you!
1. Limit your TV time
You’re probably thinking, ‘what does TV have to do with saving money?’ Let me enlighten you. You see, when you watch a lot of TV, you’re running up your electric bill, most likely spending money on multiple TV subscriptions (like Netflix, Foxtel or Stan). Even if you watch commercial telly, you’re exposed to spending-inducing ads. Instead of watching TV, focus on a side hustle, spend some time with your friends, go to the gym, play with your pets. There are millions of other activities you can do to keep yourself occupied.
2. It’s time for store-bought coffee
Did you know that a cup of coffee can cost upwards of $5 here? Yikes! If you get a cup of coffee every day of the week, that totals to $35+ a week. For coffee. Instead of getting your coffee fix from the cafe close to work or uni, buy a pack of coffee from your local supermarket. A 10 pack of lattes from your local supermarket is around $4.50. So $4.50 for 10 coffees? Or $35+ for 7 coffees? I know which one I’m going to choose.
3. The 30-day rule
Mastering the 30-day rule is a fantastic way to save money! Avoid instant gratification and before you make your next purchase, wait 30 days. More often than not, after the 30 days have passed, you’ll find the urge to spend has passed also. This is an easy way to save money, simply by waiting. The 30-day rule will give you a better perspective on your purchases and whether they’re really worth the money.
4. Stick to a shopping list
Write a list before you go shopping, and when you go, stick to it! The easiest way to waste money is by going shopping and making impulse and unplanned buys. This tip will really help you save money at the supermarket! Another tip to save some coin at the supermarket is to NEVER go shopping on an empty stomach. You will most definitely make impulse buys and it’s harder to stick to your list when you’re hungry.
5. Invite friends over instead of going out
Going out for drinks or a meal with your friends can be very expensive! You can blow your weekly food budget and entertainment budget in one hang out. Instead of going out, invite your friends over and find other ways to entertain yourselves. Watch a movie, play board games, drink at home (which is always less expensive than drinking out). You’ll all save money and still have a blast.
6. Avoid convenience foods and fast food
That’s right, delete that Uber Eats app! Fast food is convenient, yes, especially when it can be delivered right to your door. However, it will cost you a lot of dough if you’re buying fast food every week. Instead of convenient pre-packaged food or fast food, opt for simple and healthier replacement foods that you can make. Break out the good ol’ crock pot and make some inexpensive meals that will not only save you money, but also time. Avoiding convenient foods and fast food will save you money and also be better for your health (and your waistline!)