How to save money without really noticing

Saving money

Raising a family can be expensive, but there are small ways you can save money without really noticing

[Sponsored] If you’re looking for effective ways to save a little more out of each pay cheque, start by looking for ways to reduce your expenditure. There are many small things you can save on each month that will add up over time. Here are a few ways to save money without having to dramatically change your lifestyle.

Start with a budget

It might sound clichéd, but the first key to saving is creating a budget to help you identify opportunities to cut back. You might know how much you are bringing in, but if you don’t know how much you’re spending there’s no way that you can change your habits. Keep a journal of your spending for a month, including the money you spend on food, dining out, entertainment, clothing, and most importantly the bills.

After you have a journal that tracks your spending habits, identify where you need to cut back. If you are spending too much on dining out, pack a lunch. If you are going overboard on entertainment, find free community events to attend. If you buy too many clothes, set a monthly limit and don’t go over. You will be surprised at how much you can save.

Use customer rewards and vouchers

You can reduce your grocery expenses without necessarily cutting back on groceries. Find customer vouchers and coupons in your local paper and online. You can even receive Woolworths vouchers just for sharing your opinion. Save the vouchers for some special ingredients, plan a ‘restaurant worthy’ meal at home and save on a night out!

Cut insurance costs

You need property and motor insurance, but you don’t need to pay an arm and a leg for it. If you are not taking advantage of all of the discounts your insurer offers, now is the time to assess your policy. Many insurance companies give discounts for combining your motor and property insurance.

Pay your bills online

Did you know that some of your creditors actually charge you to send a paper bill in the mail? If you pay this bill in the mail, you also have to pay for envelopes and postage. You can eliminate the fees and the expenses by paying bills online. It saves a few dollars a month, but over time these savings add up.

There are just a few of the many small changes that you can make to save money. From brewing your own coffee instead of going to your local cafe, to carpooling with your colleagues, be creative and think outside the box to build your savings account without really noticing.

 

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