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Money Saving Tips


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#1 lilacgirl

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Posted 19 February 2006 - 09:51 AM

Does anyone have any tips on saving money...

We're saving all our pennies at the moment for our wedding and we've worked out a few things to save money on around the house..

I'd love to hear everyones tips...

Mine are:

Buying washing powder in bulk... we buy 10kg every 7 months, it works out a lot cheaper!($30 for Cold Power) (from Kmart or Big W) It's still a name brand but cheaper than buying the smaller boxes..

Buying All Purpose cleaner in bulk... we bought 5 litres for $10 which will last FOREVER but it beats paying $5 for 500ml!!

Buying Fruit & Vege from the Fruit shop rather than coles

Buying meat from the butcher..

We saved $150 off our monthly food shop doing it this way..

Oh & hiding each others credit cards works wonders too

#2 melhoneybee

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Posted 19 February 2006 - 10:41 AM

always write a shopping list and stick to it
Shop at a meat wholesaler rather than butcher-much cheaper for great quality meat (there is one at strathfield in sydney next door to aldi)

make your own treats such as slices, and snacks for work. It is much cheaper than buying biscuits etc
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#3 Magnolia

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Posted 20 February 2006 - 11:10 AM

Buy fruit vegies that are in season. They're often cheaper.

Find out which days your supermarket has budget days. Ours is on a wednesday, so we often buy meat in bulk and then freeze. Or we keep our eyes out for when things are reduced and stock up on items like toilet paper, deodorant etc.

Cook with staples like rice, potatoes, flour etc.

Don't buy cokes/coffee on a daily basis. Some people at my work buy 2 cans of coke a day and it does add up.

Try not to drive as much if you spend a lot on petrol. Wait till you have a few errands and do them in one go. Or walk to the shops if possible.

Find cheaper entertainment ideas. There was a post in here a little while ago. So subsitute going to the movies for DVDs. Or try not to eat out as much.

We also use cash for everything. We take out our pay once a week, and this means that it's easier to manage our money and see where it's going. If you always use cards, you can lose track of how much money your spending.

#4 Shellbee

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Posted 20 February 2006 - 11:18 AM

I've started to work to and from work. Not only is it helping with the pre-wedding fitness, but it does save money - i find i have a lot more pocket money left over at the end of the week - just by saving $3.40 a day!

Ditto on the coffees, and try to bring your own lunch. I used to spend about $10 a day on lunches - that's $200 a month!!

entertain at home. My friends and i have started forgoing the bars and restaurants for dinner at home. We had a mexican night last month and it cost everyone $13.00 each!

Also, i've started buying cases of wine from places like Kemeny's (and a friend of mine who works for a major alcohol company). Cleanskin cases often work out at about $9 (and once you've tried them you know if they're ok!). This is much cheaper than buying a bottle every time you go out to dinner or to a friends house.

We have Foxtel, i know it's often seen as an unnecessary expense, but we watch movies all the time - much cheaper than going out!

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Posted 20 February 2006 - 11:59 AM

Set a really clear budget, and stick to it. We have a budget spreadsheet (that I promise I will copy for others this week), detailing everything you could possibly think of. We calculated our costs including dividing annual bills like insurance into weekly allocations, also including money for extras and personal spending.

Now we're much more conscious of what we spend, asking ourselves "where does this fit in the budget?" and watching regular savings payments add up in a separate account. smile.gif

#6 allure

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Posted 20 February 2006 - 12:13 PM

If you live in Melbourne do your weekly shopping at Ltl Saigon in Footscray. I used to visit my local supermarket on a nightly basis to buy provisions for dinner. It was not usual for me to spend $200 - $300 a week in groceries. Now I visit the market every Sunday and stock up on really cheap and fresh fruit, vegies, fish and chicken and walk away with change from $60!!!!!!!!!!!!!!

It has made a dramatic difference for me.

Also if you like eating out but find it a bit constained by your budget, buy the entertainment book. That way you can eat out with two for one vouchers and get to try a variety of different eateries.

#7 hubby33

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Posted 21 February 2006 - 06:28 AM

So far everyone has had great suggestions... we do the fresh food markets/meat wholesaler thing and it's amazing how much you can save. Most of my favourites are the stock standards but I'll throw them in anyway...

Packing lunch wherever possible. Not just for work but it's a good idea for the first day of a holiday if you are driving. Especially because when you go to buy lunch you inevitably buy a drink as well.

Cut out the takeaway coffees. I can't live without coffee so I have a plunger at work and a little cheapie espresso machine at home. At $3 a day I save $10 a week after the cost of the ground coffee/milk...

Keep track of your spending for a month or two. You'll be amazed where and how much you spend. Cash is the most dangerous because at the end of the week you know you got out $X from the ATM but you don't have anything to show for it. For this reason I prefer credit and EFTPOS because netbanking/statements make it easy to keep track of spending patterns.

Reduce bank fees. Look for bank accounts without a monthly fee - they do exist. Use credit cards rather than EFPTOS if you are strong willed enough to avoid impulse buys. EFTPOS usually incurs fees while credit won't. Avoid 'foreign' ATMs and if you are using EFTPOS combine a purchase with cash out to make transactions more efficient.

When you feel like dinner out why not spoil yourself a bit with some more expensive groceries instead on the way home. Buying a prime piece of meat or fish is always cheaper than the restaurant. But don't be too strict on yourself or I find the wheels fall off every now and then and you spend more than if you allowed yourself a treat when required.


#8 carls

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Posted 21 February 2006 - 07:14 AM

QUOTE (Amy K @ Feb 20 2006, 11:59 AM)
Set a really clear budget, and stick to it. We have a budget spreadsheet (that I promise I will copy for others this week), detailing everything you could possibly think of. We calculated our costs including dividing annual bills like insurance into weekly allocations, also including money for extras and personal spending.

Now we're much more conscious of what we spend, asking ourselves "where does this fit in the budget?" and watching regular savings payments add up in a separate account. smile.gif

I couldn't agree more with you Amy. We have been doing this since the beginning of the year and it's amazing how much money you just waste when you haven't got a budget. We also withdraw our petrol/groceries/spending money on a Thursday and do not use our credit card or savings card, we only spend what we have in cash. We also opened a separate account for our bills and pay a certain amount in there each week. We always have money sitting their for when the big bills come up!!!
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#9 angee5456

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Posted 21 February 2006 - 10:59 AM

My mum told me to put your credit card at the bottom of a glass of water and put it in the freezer and freeze it. The next time you want to make an impulse purchase you have to wait for the ice to melt and by the time it has melted you have lost the impulse to buy something. I thought she was crazy but I was talking to work people about it and apparently most of them do it too. Interesting.........
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#10 hubby33

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Posted 21 February 2006 - 11:09 AM

I don't think freezing my credit cards would work for me - I'd just defrost it in hot water tongue.gif

But I am good these days with my credit cards (about 5 years ago I'd continually have my card nearly full and just cycle the debt by paying it off on pay day and then racking it straight back up again because all my cash would go to paying off the card). Now I have about $20K in available credit but I never owe more than $1500-2000 at once and I never pay interest. I use credit for most things for ease and to save fees and I don't buy things on impulse.

I agree with the comment above about setting up a separate account for bills. I was surprised to work out how much bills cost a fortnight but transferring that much every fortnight is such a blessing when most of our bills fall due in January/February right after Christmas...

#11 angee5456

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Posted 21 February 2006 - 11:41 AM

Trust me it take ages even if your running it under hot water!!!!!!!!!!!!!
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#12 Lecy

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Posted 03 March 2006 - 11:40 PM

This may sound really stupid, but buy a piggy bank... smile.gif

Adam and I have a pink, ceramic piggy bank, which we fill with all our $5 notes. The whole point is, it's so easy to spend a $5 note, and you never miss it! Lets face it, a bottle of coke and a chocolate bar and it's gone... So, we don't spend the $5 notes, we put them into the piggy bank instead, as well as gold coins.

You'd be surprised how quickly it adds up, and you never feel the pinch of saving!

With absolutely NO effort, in 2 months, we saved enough to go to the Gold Coast for a holiday mini-break...
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#13 Busterella

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Posted 07 March 2006 - 12:54 AM

QUOTE (angee5456 @ Feb 21 2006, 11:59 AM)
My mum told me to put your credit card at the bottom of a glass of water and put it in the freezer and freeze it. The next time you want to make an impulse purchase you have to wait for the ice to melt and by the time it has melted you have lost the impulse to buy something. I thought she was crazy but I was talking to work people about it and apparently most of them do it too. Interesting.........

LOL. What a great idea.

* We only ever have take away or a meal out once a month
* Make our lunch every day
* I write a shopping list and only buy what's on it
* Hubby does the shopping - he says I buy too much
* Do all our shopping once a week. I think if you go and buy bits and pieces every day, you spend more
* Buy from the butcher where ever possible
* freeze left overs and you can re heat them again as a meal

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#14 purplepeaches

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Posted 13 March 2006 - 09:23 PM

ditto the detailed list of what you buy - even if its only a 50cent pack of gum you will really see hwere the money goes.
and Ditto the coin jar - if I go when I get home I dump what ever coins I have in the jar, and I do the same with my partner ( here is where it really adds up as he is allergic to sorting out the right change) then when its full give it to the coin counter and be shocked when they tell you how much is in there.
search for free things to do on the weekend - that way you feel like you had fun but spent no or very little money.
My firneds and I have a couple of days a month were there is NO BUYING allowed, even if we are stuck we have to work a way round it ( emergencys excluded) and write a list of whats in your pantry that dosnt get used and make it a competition with your self to use it.
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#15 pinkbutterfly

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Posted 14 March 2006 - 02:52 PM

Forced savings... work out how much money you have extra at the end of each pay packet and arrange to have that paid straight into an account that is difficult to access, like ING or somethign like that.

Ian empties out his pockets of change every day, and unbeknowns to him, I take it and put it in a money box. I do the same with any coins or small notes I find floating around in my purse. After just 6 months I had over $300 and Ian had about $185 and we didnt miss it at all. We banked heaps and used some of it for incidental expenses when we moved.

We just dont have a credit card, full stop. If we dont have the money, we cant have it.

Check out the deli and meat sections of your supermarket. they might have a mark down section for things that are nearign their expiry date. Meat can still be frozen and its a great way of havign some deli treats every now and then. We actualyl found some cheeses which were marked down to half price and still had 2 months left before expiry! Bonus!

I really try to avoid impulse purchases. I try to stop and think "Do we really need it"

If clothes shopping and there are 4 things I like, I try to only choose one. Still get that retail therapy hit, but dont spend as much money. Also when shopping for clothes, think about what you already have at home to wear any potential purchase with. A half price blouse isnt a bargain if you have to buy a skirt and accessories to wear with it.

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