Looking for ways to save money on household expenses? From budgeting better to shopping smarter, there are plenty of easy money-saving tips that can help you trim your monthly bills and keep more cash in your pocket.
What are the best money saving tips?
Cutting down the weekly grocery bill is one of the best and easiest ways to help you to save money. Other ways to save money include to make your own food instead of eating out. An average meal at a restaurant could cost around $25, if someone were to eat out once a week, they could potentially save around $1,300 per year by cooking at home instead.
Make a Budget and Stick to It.
The key to saving money on your household expenses is sticking to a budget. Start by determining how much money you bring in each month and what bills must be paid, then create a budget outlining where the remainder of your income should go. Be sure to factor in unexpected costs so that you won’t be caught off guard. By having a budget, you’ll know exactly where your money is going, so you can make sure it’s allocated towards the most important areas of your life.
Do Your Grocery Shopping Smarter
Groceries are one of the biggest expenses for any household. To save money on food, buy generic items and shop at discount stores like Aldi. Be sure to watch out for weekly deals and discounts by signing up for their loyalty programs. Alternatively, check out local farmers markets where you can find fresh produce at a fraction of the cost of regular grocery stores.
If you are shopping at Coles and Woolworth, before you shop make sure you check out your Flybuys app or Everyday Rewards app. For example, when you are in the Flybuys app or Everyday Rewards app, look for the offer tab and check out the latest offer. Make sure you activate the offer, scan your Flybuys card before you pay.
So how much you can save by using their App? Flybuys has some great offers from time to time, for example, when you spend more than $30 at Coles in one transaction you can get 1000 Flybuys points. 200 Flybuys points = $1, which means with the offer when you spend $30 you can actually save $5.
Learn To Lighten Your Food Bills By Meal Planning & Batch Cooking
Meal planning and batch cooking are an easy way to save money while still enjoying delicious meals. Start by making a list of the meals you’d like to make and the ingredients you need. Then, plan out a shopping trip at your local grocery store where you can buy all of the ingredients in bulk for lower prices. Once you have all of your food, start batch cooking. This is when you cook multiple portions of a meal at once so that you can easily reheat food throughout the week.
Cut Down On Takeaway & Eating Out
Eating out can be expensive and quickly add up. Instead of grabbing a takeaway, try making your own food with inexpensive ingredients. You could also plan ahead and make extra portions to freeze for later.
Another way to save money is by opting for lunch or dinner specials offered by many restaurants during the week. If you do decide to eat out, most restaurants offer early bird specials which can help you save on your meal. For example, you can head to your local shopping centre at around 5pm or 4:55pm. Why? Many restaurants would offer huge discount as they try to clear their cooked food for the day. Places like sushi restaurant, a normal hand roll would cost you around $2.80 but you can get a pack of 4 hand rolls for only $8!
Check out what your Bank can Offer you
One thing people often forget is to check if their bank has any special savings accounts. If you are using HSBC, you can apply for their everyday global account and when you use Paywave for any transactions under a $100 they will give you 2% cashback. 2% might seems small but if you spend $1,000 for grocery every month which means you will be able to save $20!
Save on your Petrol
There are apps that you can download and use to check the fuel price such as FuelMap. And don’t wait to refuel your car when you only have a tiny bit of petrol left, as you will find yourself in a situation you have no choice but to refuel at the highest price like $1.80 per litre. You can also use the 7 Eleven App to lock your fuel price.
Save on your Loan Payment
If you have a home loan and your interest rate is high, you might want to consider to do a refinance! This will help you to save money on your monthly loan payment, and reduce the total amount of interest you need to pay over the course of your loan. For example, the interest rate you have with your current bank is above 7%, you should compare refinance options online. Many banks offer cash back to attract new customers to switch over. Depending on their offer, you could get over $4,000 cash back if you switch to a new bank. Although keep in mind that, there are fees to transfer your loan from your current bank to the new bank but that normally cost around $1,200 depending on factors like how many loans you are transferring to the new bank.
There are our top money saving tips for today! If you have any good tips, please feel free to leave a comment and let us know!