Can you ever have too many tips when it comes to saving money? At No Savings we certainly don’t think so. The troubles associated with saving money are felt by the majority of the working population, whether you are a teen saving for uni, a first home buyer saving for a home deposit or a retiree trying to budget your pension.
Sometimes saving money can seem impossible because once you receive your paycheck, there are numerous items vying for those hard earned dollars. When people first start to save money, they often think about cutting out the luxuries like eating out at restaurants or going shopping, which can make saving seem even more unattainable for some. In this article you will find some relatively easy ways to start saving money around the home to get you started into saving for the long haul.
Saving on groceries
Let’s get real here, don’t pretend you haven’t gotten swayed by the candy bars next to the checkout counter at the supermarket, we have all been there. This is a simple example but a relevant one as it demonstrates that with such a simple decision, to buy or not to buy the $3 chocolate, our weekly savings can be affected if we are making purchases like this multiple times a week.
Here are some tips for saving money next time you go to the grocery store:
– Plan ahead: roughly planning out a week’s worth of at home meals will make sure that you are not buying food items that you won’t use during that week. Rotten vegetables are wasted money.
– Write a list: keep a pen and paper in the kitchen so that when you have run out of an item, you can simply add it to the shopping list. When you go to the store only buy what you need which you can find on your list, ta da!
– Food budget: if you are spending roughly the same amount of money each week on groceries, try and take out this amount in cash instead of paying on eftpos. This way you only spend what you have.
– Generic brands: the stigma attached to buying home brands has well and truly passed, so next time you are trying to decide between tomato paste brands, go for the 70c less home brand.
Saving on electricity
Electricity is something we all consume much more in the technology age and so this is why it is a definite area where we can all save money. You might now feel like it will add up to much, but every little bit counts when saving money on electricity. Here are some ways to do it:
– Buy energy efficient light bulbs and appliances. Energy ratings for electrical products can be found very easily nowadays.
– While it can be more convenient and the only option in the cooler months, try and avoid using the dryer unless absolutely necessary.
– Turning off your kitchen appliances, TV’s and computers when you are not using them can save money on electricity. Don’t just turn the power button off, switch them off at the power source.
Saving on water
Did you know that with an energy efficient shower head, you could save almost $200 a year? Here are some other ways to save money on your next water bill:
Try and cut down your shower time. If only two people live in your household, two 8 minute showers a day for each person can save you big money!
Fixing any dripping taps and leaking toilets might not seem like much but it all adds up at the end of the year.
Avoid using the washing machine until you have a full load of clothing to wash.
Have you been struggling to get into a home of your own because of financial difficulties? At No Savings our goal is to open the door to home ownership for as many West Australians as we can. We specialise in helping first home buyers who have had trouble obtaining finance before with our no deposit home loan options. Contact us today and see if you qualify.