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10 Money Saving Hacks to Do Today
With so many tempting things around us today, it’s no wonder we’re overspending. We end up living from paycheck to paycheck, promising ourselves to be better next time. Forget that! Here are some easy money saving hacks you can do today to regain some control.
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MONEY SAVING HACK #1: CUT YOUR CREDIT CARD IN HALF, LITERALLY!
Credit Cards are the bane of our existence. It’s such an easy way to get into debt, because the reality is… if you are using your credit card, then it simply means that you are not living within your means. Purchasing things on credit doesn’t teach you (or our children) any self control. So before swiping that card – ask yourself: “Do I really need this now, or can it wait until I have enough cash?” Go cash only!
MONEY SAVING HACK #2: KEEP A PIGGY BANK – HONESTLY
If you’re snipping your credit card in half, you may well be walking around with cash (if not your EFTPOS Card); and buying in cash inevitably means that you’ll get change in coins. Instead of spending all the coins you can find, make a habit of putting it into a piggy bank – and see how much you have a the end of the year. Think about it… if you pop even $1 NZD a day for a year, you get $365 at Christmas. Easy peasy!
MONEY SAVING HACK #3: MAKE YOUR OWN COFFEE
I love coffee. I live in the Wellington, NZ which, aside from the weather, is known for it’s huge coffee culture and amazing Flat White. So I get it. But think about it – if you make your own coffee at home, you can easily save yourself:
- $5 NZD (or $3 USD) per day
- $25 NZD ($15 USD) per week – at 5 days
- $1300 NZD ($780 USD) per year
Wouldn’t you rather use that money for something other than a beverage? There you go! You’ve just saved yourself some money.
MONEY SAVING HACK #4: EAT AT HOME
We often associate going out with eating out; or eating out with going out. The thing is though, we end up spending money on mediocre takeaways like McDonald’s of Denny’s. Instead of spending on something less than amazing, why not cook at home? There are ton of inspiration you get HERE. Do some planning and save some money for a proper night off cooking duties.
- Related Post: 20 Cheap Dinner Ideas for When You Are Skint on Money, Food, or Time
- Related Post: How To Save for A Holiday When Living on a Tight Budget
- Related Post: What a Buffer Is, and Why You Need One in Your Budget
MONEY SAVING HACK #5: ORDER WATER
If you do decide to eat out however, order water. Restaurants are known for adding at least 10-20% profit margin on beverages; even more so on alcoholic beverages. For instance, if you consume a bottle of wine in a restaurant, you can assume that you’re paying for up 45% of the profit margin. Why do they do this? Because they can.
So stay away from the drinks – and drink water. Save yourself some cash, and pop into the supermarket to get a bottle of wine that you can consume in the comfort of your own home.
MONEY SAVING HACK #6: BORROW, DON’T BUY
If you’re kids are like mine – or you’re like my kids – they love books! They enjoying scouring bookstores and looking for their next read. I think that’s great. What I don’t think is so great is paying $20 for a book that they will eventually finish and leave on a shelf to gather dust.
Instead of buying that book, go to your local library and borrow it. You may think, “oh, but they don’t have the book I want.” Did you know that you can ask your library to purchase a book they don’t have in stock? Check out the Wellington City Library’s policy. This applies to all local libraries too. How awesome is that?
MONEY SAVING HACK #7: HIT THE OP-SHOPS
It’s no secret – I love op-shopping. I love going in and looking at the odds and ends that people once cared for but no longer need. Check out this post on 15 Creative Ways To Re-purpose Thrift Store Finds.
MONEY SAVING HACK #8: FORGET BRANDED, BUY GENERIC
I’m sure you’ve noticed that every item in a supermarket has multiple brands to choose from. Apart from the obvious, which is giving us the freedom of choice; having multiple brands are there to confuse us and generate income for the large corporations – even buying generic! While buying generic doesn’t necessarily mean the large corpos don’t make money – they actually do yield more because all their costs are halved ie, marketing, advertising etc.
At the end of the day though, we spend less:
- Homebrand Plain Flour = $1.20 NZD / KG
- Champion Brand Plain Flour = $1.73 NZD / KG
It all adds up.
MONEY SAVING HACK #9: SELL YOUR OLD CLOTHES OR PRE-LOVED ITEMS
How many items of clothing do you have sitting in the back of your closet? Do you still have that pair of jeans you are saving for when you can fit into them? And look around your house… how many items can you see just sitting there unused?
Gather all these items and sell them online? There are many ways of selling items online. These days, you will find that there are many groups on Facebook within your local area where you can sell your pre-loved items. Or you can go the traditional way of selling on TradeMe, Amazon, or Ebay.
MONEY SAVING HACK #10: DRESS FOR THE WEATHER
This is one of the oldest tricks in the book. Are you cold? Put a jacket on. Warm? Take a layer off. Heating products consume a lot of electricity; and the more you use, the higher your power bill will be. Check out these energy wise tips on Simple Ways to Lower Your Energy Bill by the Energy Efficiency and Conservation Authority (EECA).
Happy saving! ♥
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