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So you want to save money. Maybe you’re finally looking to put down a down payment on your first home. Or maybe your old car is on its last miles. Or do you just want to treat yourself to that pair of Gucci sunglasses that you know you don’t really need but can’t stop thinking about?
Often, while we are in thrift mode, we go on to deny ourselves completely of the things we love, thus making ourselves miserable. But the good news is, you don’t have to give it all up. Save smarter, not harder. And have fun doing it.
To help you get started, we’ve partnered with Great south shore find easy ways to save without having to live a totally joyless existence. From reducing your weekly food bill to a bank hack that will let you increase your savings without even realizing it, these tips will keep you on track.
BECOME YOUR OWN BARISTA
We know, we know. You need your caffeine fix. We’re not saying cut that double-dose oat milk latte entirely, but buying one or two a day adds up very quickly. Want to crunch some numbers? Let’s say your average coffee costs $ 4 and you buy two a day, which is $ 2,920 spent on java each year. Add that up over five years and it’s a whopping $ 14,600.
Instead, invest in a small kit to get your coffee at home. Appropriate espresso machines are great, but also expensive. Keep an eye out for a used one and you may be able to get a good deal. Alternatively, get yourself a good percolator and quality beans. You can get a percolator for as little as $ 12 (or three coffees) that will last for years. For beans, you can get your fix from Australia’s best coffee roasters. While the price will vary due to the mixes, beans, and all kinds of stuff, beans from local roasters will typically cost anywhere from $ 15 to $ 23 for 250 grams (about 35 cups). You might even want to add a milk frother into the mix, and then you’ll be brewing luxury coffee at home in no time. Best of all, you can do it all in your dressing gown.
Then, once a week or so, treat yourself to the real deal at this local cafe with the cute barista. You are only human, after all.
ABANDON THE MURDERED JOURNEY
This one is in a way a no-brainer for the inhabitants of the city center. Why bother being crammed into hot, crowded public transport, especially in an age of social distancing? The same goes for driving – no one wants to waste time (and gas) sitting in traffic. Even if that means starting half an hour earlier than usual, walking to your destination means you are exercising and saving money. For longer trips, consider buying a bike, scooter, or skateboard (again, second-hand bargains are everywhere). If you have to travel long distances, e-bikes are a godsend.
Whether you’re already in the office or heading back when restrictions ease, giving up life on public transport even once or twice a week is better for the bank, the environment, and your physical and emotional well-being.
PREPARE MEALS LIKE A PRO
Meal Preparation: Seems tedious at first, but once you’re in the know, it’s really not that complicated. And, spoiler alert, it can actually be fun – or, at least, it will give you a sense of accomplishment on an otherwise unproductive Sunday.
If you’re new to it, start simple: try roasting a whole cabbage with vegetables. You’ll easily get a few dinners out of it, and leftover meat can be used for sandwiches, salads, and burrito bowls. Oh, and don’t toss the carcass – this will make a great homemade broth that you can divide and freeze for later. Don’t eat meat? Dust off that slow cooker and make a huge dhal for easy but nutritious eating. The more you prepare, the better off you will be and the more inventive you will be. Soon, your homemade breakfasts will easily surpass that disappointing $ 18 toast you ordered on Uber Eats.
FOLLOW THE SEASONS
Now that you’re on your way to becoming a kitchen whiz, you’ll want to know how to cut your grocery bill. It’s just supply and demand, really. Seasonal purchases mean that if you buy something that is readily available, the price is lower because there is less cost to acquire it. We are incredibly lucky in Australia to have incredible fruits and vegetables available all year round, but there are some things that grow in abundance in the summer rather than in the winter and vice versa. So shop and cook seasonally. You’ll eat well and expand your repertoire while saving money to make it feel almost natural.
Thrift stores, Salvos, Vinnies, Depop, Facebook Marketplace – there is no end to the bargains and unique pieces you can find without the sky-high prices. Most often, op stores are located near other op stores so you can spend a day browsing a few and see what you can find. Pro tip: Go to the affluent suburbs, where you’re more likely to find pristine gems.
And while you’re mindlessly browsing your phone at night, try browsing Depop. You will be surprised and delighted with the stunning designer pieces you can find at 3.1 Phillip Lim, Acne Studios, Zimmermann and more.
Embrace the great outdoors
Spring is here, so it’s time to get out there and enjoy the fresh air and the sun. And it will be lighter on the wallet than a night on the town. Pack a picnic and head to the park for a long-awaited catch-up with your friends. If you are lucky, you can organize a public barbecue for cooking and enjoy the simple pleasures of an outdoor feast. Throw a frisbee or a soccer ball, challenge your friends to a game of Finska, and stuff sausages in your pockets for all the dogs to come and play with you. Okay, maybe not the latter, but you get the idea.
Knowing where your money is and why you choose to put it there is important to achieving your goals and improving your overall financial literacy. If you dream of owning your first home, choose a bank that maximizes your savings potential, like the Great Southern Bank.
The Great Southern Bank empowers young Australians to do their banking to help them reach their savings goals faster. Whether you’re saving for a home deposit or just want to develop better banking habits, Great Southern Bank has a number of smart tools and features to help you do that. One is The boost, where you can set a predetermined amount (between $ 0.01 and $ 5) from your current account to be automatically transferred to your savings account each time you make a purchase. This means that every sambo, black shorts and schooner subtly increases your savings.
Once you’ve got everything set up, you’ll want to keep your savings fund from shrinking. For example, if you’re a little happy when you’re having a good time (who isn’t), your bank balance can take a hell of a beating. This is where a spending limit on your account can come in handy. Be realistic about how much you will need based on the activity. And here’s the tricky part: don’t transfer anymore. You’ll thank yourself later.
Great south shore enables Australians to get smart with their banking. Whether you want to meet your savings goals with The boost or hide your house deposit fund with The vault, Great Southern Bank helps you get there. For more information on savings tools and mortgage offers, go to the page Grande Banque du Sud website.
Top image: SWOP Clothing Exchange, Trent van der Jagt
Posted on 02 November 2021 by