There’s nothing more painful than taking a hit to your salary, losing your job, being made redundant or struggling in a growing pool of unemployed punters. Bouncing from pay check to pay check is a reality for a lot of people, and arguably easier to do when the stream of money flows freely, but what happens when the tide sputters? Irregular payments can wreak havoc on your budget, maintaining it, nurturing it and generating enough to pay the bills; they seem endless, don’t they? Workplace accidents and unfair dismissals are rife in this post-GFC world, seek legal advice from professionals like Sinnamon Lawyers , ask questions and guard yourself against hard times. Already there? Try these money saving hints to make the most out your dollars and cents.
The Power of Coupons
You’ve probably heard of group buying websites like Groupon, Scoopon and Living Social. Daily Deals is quite popular too. If you need a night out to boost morale, the above companies collect deals from local restaurants, stage shows and activities and offer them at significantly reduced prices. A $100 dinner can transform into a $50 three course feast at the click of a mouse; fitness sessions often run cheap, constantly cycling out trainers and classes to keep the audience interested and accommodation goes for a pretty penny, as customers can save up to 70% per night. Be careful about over-buying – sure these sites offer some very hot deals, but you could end up spending more in the pursuit of savings.
The Little Things
That microwave humming through the night can be turned off at the wall. The aircon can be switched out for a fan in summer or more blankets in winter, and lights can be easily turned off when not in use. Each example sounds too simple to save money, but electricity is a huge burden on your back pocket, only you don’t realize until the accounts come and the scramble begins. In addition to electricity, pay attention to hidden fees and disused memberships; instead of using a competing ATM, use debit or withdraw money at a supermarket, swap your gym routine for an afternoon run and cancel the direct debit and consider converting your mobile plan to pre-paid or cutting down to a lower cap.
Public transport is not cheap, or it isn’t until you compare it to the cost of running one or two cars. Weekly petrol top-ups, insurance, registration, tune-ups and green slips all cost money; as the price at the bowser reaches new heights, it may be time to consider researching your local public transport system. Although paper tickets can cost a truck-load, most regions and cities have electronic travel cards that discount up to 30% off the original travel price – you’ll also save on parking during the work-day. When a vehicle is essential, start saving those fuel slips at the end of the weekly shopper docket and take advantage of these savings.
The money crunch can be challenging to overcome, but implementing these simple tips can save you hundreds. Don’t wait, start saving now.