Saving money is easy- no, trust me, it is! It’s all about tweaking those little expenses. Got a Netflix account? Cancel and use someone else’s (with their permission of course). It’s all about making those little sacrifices and living frugally for a time in order to live it up exuberantly overseas. Here are 11 surefire ways to up your savings in no time.
1. Start a savings account- and name it
Research shows that if you name your account, such as ‘USA July 2017’, it will motivate you to reach your goal considerably faster and makes sure that you always remember the end to the means. Keeps your eyes on the prize sister!
2. Shop at a warehouse
I LOVE Chemist Warehouse and wouldn’t go anywhere else for all my toiletry needs. It’s considerably cheaper and the best part is that the receipt tells you how much you save each time (it’s a lot!)
3. Stop buying coffee
Make a home brew (instant coffee ain’t great but it does the job) or invest in a coffee machine to save money in the long run. You can also get a liking for tea instead- My personal favourite alternative is dandelion tea, it tastes similar to coffee but without the caffeine.
4. Learn to cook and invite friends for dinner
Stop buying takeout and perfect your culinary skills. Instead of going out every weekend, host a dinner party. Tip: master one or two dishes that can be your signature and you know will be a hit each and very time. Absolutely don’t want to cook? Have a cheese and wine night!
5. Kick that Rent
Consider moving home with the folks for awhile, get another housemate if your rental house has a spare room, or if you own a home and don’t want permanent tenants, consider Air BnB to provide temporary accomodation and earn some quick cash.
6. Travel smarter
When you are constantly traveling and want to cut the costs on your journey, learn to travel smarter, not cheaper. Many people unknowingly waste money on unnecessary things. Save money on flights by utilising student flight centres, and pack a light suitcase to avoid excess baggage fees. If you go to an expensive restaurant, try not to go for a full meal and opt for drinks instead. Try Air BnB instead of hotels, and Uber over taxis.
7. Buy clothing off season
Perhaps my favourite tip because it involves shopping! I always do this, as you can find some great winter cardigans and boots for as little as $10 in spring.
8. Set budgets (for everything)
The best way to ensure you don’t overspend is to have a weekly budget- and not exceed it! One for grocery shopping, eating out, fuel, etc. Factor in ongoing expenses such as rent and you will have a rough idea of how much is left over. Now work with that!
9. Record your spendings
There are so many apps available for your phone that track your spending and earnings. They also allow you to set budgets and stay on track. Amazing stuff when you need a little shove in the right direction.
10. Sell what you don’t need
I know better than anyone how hard it is to let go of old things- especially clothes. But what if you need it in the future, right? I have a number of wigs and Christmas Tshirts tucked away in my spare room, just in case there is a dress up party they would be perfect for. While this might be the case, you might be waiting a loooong time, and you need $$$ for your travels NOW. You can try EBay, Gumtree, Facebook swap and sell groups, and apps like Carousel to get rid of any unwanted items and earn some quick cash.
11. Got a gym membership?
Cancel and take up walking everywhere to get fit (which also saves money on fuel- what a win!).
Hope some of these help! Do you have any money saving tips that work for you?