5 Tips To Help Stretch Yr Money If You Need To Perform CPR On Your Wallet This Summer

Black Friday and Christmas sales have got my wallet feeling like Rocky on the ropes taking punches, with a kid in the corner crying “Stop! He’s already dead”. It’s no doubt that Christmas is the biggest retail season of the year, and for many of us, we may find ourselves spending more than what we may have expected thanks to deals that look too good.

Getting those savings back up can be a mission and a half, but it’s definitely not impossible! There are countless money-saving tricks and hacks available out there, and if you have time, extra ways to earn a quick buck with a side hustle if needed.

But if you’d rather not spend the time dealing with people flirting with you on the Facebook Marketplace, here are some tips to help recover those lost bucks for the new year.

Track Your Expenses

One of the best ways to get an idea on how you should be saving is to track all those sneaky lil expenses that sneak up on you that you may not suspect. Whether that’s an overly expensive gym membership, to how much you eat out in a month, to more broad expenses like bills and groceries.

There are tonnes of really great apps that can help you do this, or even doing it manually can help affirm the practice in you.

Seeing all the money you spend right in front of you might help you think twice about buying something under the guise of “treating yourself”, or help you be more firm in cancelling that gym membership no matter how hard they try to keep you locked in.

Avoid Sales

Teaching yourself to say no to a juicy 50% off sale is one of the hardest but most valuable money-saving tips you can learn. A good question to ask yourself is, would you buy this if it wasn’t on sale?

This year alone Australia was projected to spend around $6.2 billion this year on Black Friday sales alone, however, a lot of this comes from fast-fashion or toys that only have a very limited interest and life, leading to high environmental waste. If you’re looking to pick something up on sale this Christmas season, make sure it’s something built to last as well to really stretch that dollar out.

Use Cashback Platforms

But if you’re a sucker for a good deal, purchasing through a cashback platform is a great way to get the most out of those discount purchases.

Cashback platforms like Cheddar showcase all the best deals and offers from hundreds of brands, and let you earn cashback on purchases you make through their website or app. Depending on the retailer, you can earn anywhere between five to thirty percent cashback on your purchase, sometimes on top of their sitewide offer.

Cashback can take up to ninety days to be approved by brand partners, just to make sure everything is legit, but afterwards, you can withdraw it from your profile to your bank account.

Plus, right now, you can get $25 bonus cashback on your first purchase. So, that’s at least one-and-a-half pairs of novelty socks this Christmas.

Renegotiate Your Bills

If you haven’t changed your bills provider for a while, it might be worth looking at it as you may be able to negotiate for a lower price or switch to an even better contract for a lower price. This is especially true for home internet or phone plans, as you may be paying more than you should. You may also qualify for a discounted promotion if you ask your provider as they may decide to lower your contract as you’ve proven to be a loyal customer for awhile.

Cut Out Subscriptions You Don’t Use

We’re all guilty of letting a subscription we don’t use slowly drain away our money each month.”I’ll probably get around to that show on Binge next week” we may say before settling in to watch the same comfort shows. Some of us may have bought a subscription to the New York Times as a New Year’ resolution to trick ourselves into thinking we’re well-read.

The hold our subscriptions have on us is one that’s been documented in the Journal of Consumer Research, as we choose brands as a way to “affirm, construct and communicate our identities”. However, as money-savvy folks, consider sharing a subscription plan with your friends if you’re not prepared to cut out a streaming service from your life, or consider unsubscribing in between seasons of your favourite shows. The best part about streaming is that there are no lock-in contracts to keep you committed long term, so abuse it while it lasts!

Thanks to all these end-of-year sales, keeping all those impulse spending habits under control and stretching your cash can feel anxiety-inducing. However, it can be so rewarding when you see nothing but green flowing into your account, letting you feel relaxed knowing your card isn’t about to decline a latte in front of friends.

Sign up bonus available. Subject to Offer’s Terms and Conditions. Minimum spend $25.

Cheddar Terms of Use, Offer Terms and Conditions, Merchant Terms & Conditions and Exclusions apply. See full Terms & Conditions on the Merchant deal page, inside the Cheddar App or website.