We know we should be saving more money. Everywhere you look there are tips for saving money fast. It’s that guilty little thought we shove to the back of our minds. Why do we avoid it? I feel like it’s because cutting out spending seems inevitably intertwined with doing less fun things. Which is why it’s not realistic to cut out every last unnecessary purchase. If we’re hating life it’s not a plan we’re going to stick to.
But what if we make some less drastic changes? What if we make little changes that don’t affect our lifestyle but will still save us a respectable amount of money each week? It’s possible.
20 Tips For Saving Money Fast That Won’t Suck All The Fun From Life
1. Sell Your Old Stuff
Declutter your home, grab the clothes you never wear, sort through that cupboard you stick stuff in and promptly forget about. Then get yourself into the magical world of Facebook buy/swap/sell groups and websites like Gumtree that create a marketplace for us average folk. It’s actually kind of fun once you get into it, and you’ll be surprised the random things people want to buy.
2. Make A ‘No Spend Day’ Once A Week
Think of all the little things you buy in a day. Coffee, lunch, gum, a magazine maybe? Individually they’re not a lot so we don’t even really clock it as spending. Look sometimes we need a little pick-me-up or treat, and we deserve it. But imagine if just once a week we committed to spending no money at all. That’s money that can go towards something far more exciting than the small impulse purchases we make.
3. Only Allow One Large Purchase A Month
This means you have to stop and really think about what you need vs what you want. You may find you don’t even want it anymore once you’ve weighed it all up. But if you do, prioritise and only allow yourself one per month. Of course, you still need to make sure it still fits in your budget.
4. Only Pay In Cash
Cards are SO easy to use and SO hard to keep track of how much you’ve used them. The worst thing for your savings goals is not keeping track of what you’re spending. If you pull out cash and use it to pay instead, you’ve got something real and tangible to visually show you what you’re spending.
5. Use Your Current Skills For A Side Hustle
A side hustle is meant to be on the side, not eating away into every waking hour. So use the skills you already have and get yourself a little cash on the side. This doesn’t even necessarily mean freelancing or having any formally acquired skills. Some groups just need your opinions. Here’s a list of ways you can earn a little extra somethin’ somethin’ with basically no effort:
6. Invest, Don’t Just Buy
When we’re trying to save money we’re often looking for every corner we can cut. While that’s a good thing, I’m going to say something that might seem slightly counter-intuitive here. SOME things deserve to have more money spent on them because then the item you get is a higher quality and will last you longer, saving you money in the long run. Of course, this doesn’t work if you just go out and buy more stuff anyway, so stay mindful of your purchases.
7. Make Your Own Coffee And Tea
Or *insert your daily beverage of choice here*. I literally refuse to buy tea out, it’s such a rip. And sure I don’t drink coffee, but like you caffeinated peeps I’m still spending $4-5 a day on kombucha (yeah, I know). Kombucha’s a little hard to make yourself on the reg, coffee isn’t. I’m not here to stop you having it, I’m here to point out you’re spending too much on it.
8. Get Rid Of Auto Payments
It’s so easy to spend money without realising when it’s just coming out of your bank automatically. Take a good look at your auto debits, then cut out the ones you’re not using (you know you have some of those) and make your payments manual where possible. Need a little help getting started? We’ve got you:
9. Have A Big Night In
Be honest, this isn’t even just a saving money problem. It’s also an ‘I’ve been on the scene too long and it’s starting to bore me’ problem. You know what’s great about getting your friends over to your place instead? Your bed is literally right there. If you need some inspo, I’ve got it for you in buckets right here:
10. Use Public Transport Over Ride Shares
Public transport REALLY isn’t that bad. I get it, I complain too with my recent commute changing from a 20-minute walk to an hour-long bus ride, but just think of it as a way to catch up on your reading. But especially getting to or from an event or night out? Just get yourself together and leave the house 20 minutes earlier and pay $4-ish over $20-ish (purely basing that on what used to be my inner city travel times). That’s a lot of extra drinks.
If you absolutely must, at least use something like UberPool and share the cost of your ride.
11. Buy Homebrand
It tastes the same, anyone who tells you otherwise is lying. A small saving per item might not seem like much, but when you add up your savings for an entire shop, and then for an entire month? That ends up being a respectable amount of money for such minimal effort.
12. Find Gym Deals Or Workout Online
I think we’re collectively at a point where we can agree that your health SHOULD be something you factor into a savings plan, but will spending a million dollars on a gym membership make you any healthier than going to a cheap one or working out from home? I strongly doubt it. If like me, you’re not a person who can hit the gym without someone telling you what to do, a quick peruse through Youtube will find you every type of instructor-led exercise class you could ever want for FREE. Then you ca also check deal websites, because there’s literally endless cheapo deals to different gyms on there.
If you really get in the grove, here’s a quide to getting other stuff for free too:
13. Put 10% Of Your Paycheck Straight Into Savings
We spoke to Felicity Cooper, a Financial Planner by trade and Founder of Cooper Wealth Management for some savings tips and she reckons everyone should “…save a minimum of 10% of their income no matter what their salary is.” After that, it depends on your own personal finance situation.
14. Get 3+ Quotes Before You Buy
Unless you’re made of money, you’re most likely already shopping around before you buy those really big ticket items like a new car or computer. It’s the same money-saving principle that applies to medium range things like clothes and petrol and even small purchases like a bag of chips. Plus looking around before you buy gives you time to work out if it’s something you actually want or just an impulse purchase.
15. Share Your Subscriptions
Once you’ve narrowed your subscriptions down to those you’ll actually loose, why not share the load with friends/family/lovers? For example, as we know one movie streaming subscription is not enough, so I pay for one, my bestie pays for another and we share them.
16. Pack Your Own Lunch Already
Almost certain you’ve heard this one before, so why aren’t you doing it? You’re more likely to have dinner plans then lunch plans, right? So compromise and bring your lunch to work with you. Simple.
17. Make A Real Financial Plan
This one might take a little more planning than the rest, but guys, you really just should. Track your spending, make a budget and work out your savings goals. Not sure how to get started? Give the below a squiz:
18. Buy Second-Hand
This can include but definitely isn’t limited to your Vinny’s / Salvos stores. Have a favourite clothing brand? There’s almost certainly a buy/swap/sell Facebook group for it. Same goes for all household items, I just sold a bunch of furniture that way myself. Then, of course, there’s the strange selling haven that is Gumtree. I bought this beauty of a 1920s style couch that SHOULD have cost over $1000 for $200 once. It’s still my pride and joy.
19. Don’t Let Drunk You Access Your Finances
Don’t believe me? Well, I already put together definitive proof fro the real-life experiences of the office why I am 100% correct on this one. Here you go:
20. Avoid Temptation
The best way to not spend money is to not put yourself in a situation to spend money in the first place. I don’t mean you can’t go meet friends or leave the house, but if you’re trying to cut down on useless spending just stay away from the shopping centre. If you struggle grocery shopping without picking up a bunch of stuff you don’t need, shop online so you stick to your list.
Still a little hazy on what the fuck bitcoin is? We’ve got you covered, mate.Image: Wolf Of Wall Street