You have finally decided you need to save some money, those bills are just getting too much and your income hasn’t changed.
These simple tactics can make your money work for you, as the simplest things can save a huge amount of money over a year.
Review your budget
It is always a good idea to review you budget, compare your providers – insurances – health, home, contents,car,professional indemnity, sickness/accident; phone, power, credit card, mortgage every 12 – 24 months, depending on what type of plan you have, to select the one most appropriate to you.
Life changes and you may have gone from single to a permanent relationship, had a child, got divorced, or whatever and you need to change your coverage from your insurer – you don’t want to be paying high insurance coverage for something you will never use.
Take up your health insurers offer of paying by direct debit or annually as you can save about 4 percent on your premium.
Saving on Energy
Do you really need to keep running that second fridge?
Turn it off and sell it, or leave it off until you need to use it – when you have a party or extra guests staying and you are short on fridge space.
Turn it up!
Do you run your air conditioner at a low temperature in summer – turn it up! by turning it up by one degree will cut your electricity bill by about ten percent. The best temperature to leave it set at is twenty four for both summer and winter.
So if you run the air conditioner at a high heat in winter – turn it down by about one degree.
Energy companies can offer as much as 35 per cent off their energy usage costs in an attempt to woo you to move over to them.
Work out your costs and see if you can save by switching, even if you have to pay an early exit fee it might be worth it, as savings can be worth several hundred dollars over the year.
Turn it off at the switch.
Turn off your appliances at the wall and save. Laptops, stereos, speakers, television, microwaves are all the biggest contributors to the “standby” power bill. Turn off your games controller, printer, washing machine, pay tv, set top box etc at the wall.
If your power point is behind the furniture and hard to reach, invest in a remote control power plug that you plug your appliance into and then can turn on/off remotely.
Turn you back on the dryer
Keep the dryer for emergency use only, use a clothes line or airer to dry your clothes, they will love you for it and it will save you a few hundred dollars a year.
Use trial offers
This is a great tip for when you decide to start exercising and sign up to the gym. Circulate between gyms, yoga studios and classes by using their introductory offer.
Many gyms and studios offer a $50 unlimited classes for a month trial. Try a few and then decide which one to join. Given that most of us only last three months at a gym, this is a great way to get started.
Sell your gym contract
‘It was such a good deal as they waived the joining fee, and now you’re not using it”. We all know that one, sell your contract to a friend who can use the membership and pay the remaining payments.
Most local authorities/councils have great facilities for residents. Find a park where there is free equipment to use and a good walkway. Meet your friends, take the dog and enjoy the fresh air and catch up.
Always pay in the local currency, you can be charged a 5.5 percent Dynamic Currency Conversion Fee on top of your purchase if using your credit card and you pay in your home currency.
Pay cash for small amounts
When you are using PayPass or its equivalent you can pay anything from 0.5 – 10 percent surcharge.
Take enough cash for the cab fare home on Saturday night.
Shop Online and Collect it in person
Check to see what the delivery costs are and if possible take the “collect it from store” option.
If you have to have it delivered try using the off-peak delivery time for a less expensive fee.
Rewards Programs and Coupons
Some rewards programs are worth joining, some phone and energy suppliers offer rewards such as discounted movie tickets.
Take your date night to midweek when many restaurants and venues offer special deals.
Look for coupons on the internet with special deals, you can offer find inexpensive meals in top restaurants, holidays and outings at greatly reduced prices.