With the banks cutting down on lending and becoming more and more stricter, saving for your 20% deposit is getting harder. A lot of people live week to week with rising living cost and saving is just completely out of sight for them. How can you save even a few dollars a week?
- That morning coffee you love so much, don’t buy it!! That will save you at least $5 a day. There’s $25 a week. That’s $1,300 a year. Assuming your only having one a day, if your having more, don’t buy any of them!!
- STOP buying your lunch. How much do you spend on lunch and morning tea a day? Go to the shops get some salad and bread and make yourself a sandwhich for lunch every day and some fruit for a snack, not only will you save money it is a lot healthier for you. If we are consevartive lets say you spend $15 a day on lunch. That’s $75 a week which is $3,900 a year. Already with no coffee and no lunches you’ve saved $5,200 a year.
- Take aways and dining out. Doing one large shop instead of lots of small ones, takes away temptations of impulse buys and wastage. Make a large lasagne or pasta and freeze some for spare meals when you don’t feel like cooking.
- If you have kids, make their school lunches instead of giving them money to buy at the canteen. This also makes sure that they are eating healthy throughout the day.
- Shop around every year for you car and health insurance. Some companies will keep you at a higher rate, call around and check rates every year to make sure your paying the best rate and getting the best deal that can save you money.
- Try living off Cash. Withdraw what you need for the week and make it last. Don’t use credit cards etc to buy impulse buys, you end up paying more in the long term with interest.
Hopefully these few tips can help you save a little bit and over a few years you will have a deposit to buy your new house!!
For more advice on how to save, give me a call on 0404 153 853 and I can get you some help with all your finances!!
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