Do you struggle to keep money in your savings account? Perhaps you’re tired of living paycheck after paycheck and want to put your shopaholic ways behind? If you answered yes to both questions, then boy, do we have some good news for you! Today we’re sharing five fool-proof, tried and tested hacks to help you get a start on your money-saving journey.
1. Bring a stock of food to work
Perhaps one of the most effective ways to stop yourself from spending on your next lunch break is to stock your office fridge or pantry with your food for the week. This means keeping a stock of goods like tinned tuna, bread, spreads, etc. (Try to avoid junk food and this can turn into a pretty great diet!). You’re not only saving money by passing on an overpriced salad for lunch, but you’re also cutting down on time spent preparing it at home!
2. Sell your old stuff
What better way to make a few extra bucks than giving your old favourites a new home? Next time you’re doing a closet or even a garage clean up, put aside items you think would be suitable to sell. Next step? Go online and start selling (We recommend Facebook Marketplace, Trade Me and Designer Wardrobe as starting points).
3. Know your options
Have you ever bought a product only to realise you could’ve gotten it for a cheaper price? Don’t worry, we FEEL your pain!
So, how do we avoid this? Spending some time getting to know your local options might save you more money than you think! Sure, it may be a hit or miss, but when you find a deal that saves you hundreds or even thousands it will be worth it!
We recommend checking out overstock, wholesale or liquidation stores for discounted items.
If it’s a grocery item you’re after, you can also use the Black Box Reviews search bar to get price comparisons on some items! Don’t forget to look out for discount codes too!
4. Use the 30-day rule
When you’re deciding on a large purchase, using the 30-day rule can help finalise your decision. The rule is, if you still want it just as much after the 30 days, consider making the purchase. Often, you’ll find that you no longer want it even before the 30-day mark is over. You’re welcome!
5. Participate in our creative and fun Money Saving Challenge!
If you’re running out of ideas on how to save your coins, then why not make it a challenge? Inspired by the She’s On The Money budgeting template, we have created a Black Box Reviews beginner, intermediate and expert money-saving templates for you to download!
Here are some tips shared by one of our very own team members, Lucy to help you stay on track:
Budget early on
One of the best pieces of advice I can give is to set aside all your money that needs to go to bills, rent, etc. once you’ve been paid. If you are paid monthly/fortnightly, rather than putting all the money away you want to save for a month when you get paid, choose random amounts from our Black Box Reviews money-saving templates each week so it doesn’t feel like you are putting away all your money at once.
Get your bank involved
A great tip to keep you from spending your savings is to check with your bank about a Bonus Saver Account. Once this is set up, try your hardest not to take money out of the account so you don’t lose interest!
Utilise the template
Cross out each amount as you go, so you can see how close you are to your final goal. This also keeps you accountable if you are tempted to take money back out of this account.
Start small
In times when your budget is tighter than usual, you can choose smaller accounts to transfer to your savings some weeks.
Take control
We have included 52 tiles on the $5000 grid, so technically 52 weeks. However, depending on how quickly you want to save the total amount, you can choose how often you transfer these amounts into your savings account (rather than just once a week).
I made a video a while back on my top 5 tips for saving money for anyone interested 🙂 https://youtu.be/1ukyMVdCTrc
Excellent idea & easy to understand
Thank you