How to save money

How to save money:

“Setting goals is the first step in turning the invisible to the visible” – Tony Robbins

There are many different ways to save money you just need to select the best way that suits you. First you need to set your goals, Why you are saving, when you plan to reach this goal and how you are going to do it.

The quickest way to double your money is to fold it in half and put in back in your back pocket – Will Rogers

To start with you can stop by overspending on things you want and only buy the things that you actually need.  When buying something turn the price of it into hours spent at work and think am I still happy to spend 8 hours of my day working to buy this specific item or would I prefer to save my money?

If you want to begin small you can start by buying a coin jar and challenge yourself not to spend any coins at all. During the weeks, months and year just keep dumping all your coins in the jar till its full. It starts to add up. You can even take this challenge a step further and not spend any $5 notes.

For saving larger amounts for a Holiday, New car or a home loan first you need to set up a savings account if you don’t already have one. Next you need to decide on an amount you can afford to put away every week and not touch. Now set this amount to automatically get transferred into your savings account on pay day. Set this all up now, You are more likely to finish something that you have already started. Make sure you don’t set the amount to high as the trick is to never have to touch this account till you have hit your goal. Now wait till the day before pay day, Got some spare money in your account? Don’t have any big plans coming up? Transfer that spare money to your savings and start the new week fresh.

  1. Set goals
  2. Set up savings account
  3. Decide on weekly amount to save
  4. Set up automatic transfer
  5. Transfer spare money at end of pay week
  6. Watch it grow
Amount Time Period Total
$10 52 weeks $520
$20 52 weeks $1040
$50 52 weeks $2600
$100 52 weeks $5200
$200 52 weeks $10400



“Do not save what is left after spending but spend what is left after saving” – Warren Buffet



Saving Money techniques:

Now saving money is not just about putting money away it is also about saving money when buying something or getting a discount on your bills, here are a few techniques to help you on your journey.

  1. Cancel Foxtel if you have it. There are cheaper alternatives such as Netflix now. But if you choose to keep it I guarantee just by calling up to cancel they will offer you a better deal. By cancelling you might find more spare time to find an extra source of income or just go with a cheaper alternative to save you money.
  2. Shop around – find the best possible phone plan or internet package you can find. Make sure you get the best deals.
  3. Learn and master the 30 day rule – If all of a sudden you find something you want to buy sit and wait 30 days. Some times we impulse buy things we don’t actually want or need by waiting 30 days you might discover you didn’t really want it after all and if you still want to buy it you might get lucky and it will now be on sale.
  4. Before going shopping you should always write a list and stick to it. By doing this you won’t fill your trolley with all the random unneeded things we tend to pick up whilst browsing the isles.
  5. Realise that your kids value your time more than those big expensive gifts you go out and buy them that they spend a day playing with.
  6. Clean out your closets and sell any unwanted items that you never plan on using. The money is better of gaining interest in your bank account than dust on the floor of your cupboard.
  7. Try to eat at home more rather than wasting money going out. You can also have nights at home with friends rather than going out.
  8. Try to turn of appliances when you are not using them and also the lights to lower your electricity bills. You can also shop around to get better rates and discounts.
  9. Cancel all those memberships you don’t use. Whether it be a gym membership or Spotify if you aren’t using it cancel it.
  10. Try using home brand products when you can to save money, Most of the time they are as good as the real thing.
  11. Take your left over’s to work with you rather than waste them. This also prevents you from buying an expensive lunch at work.
  12. Use rewards cards, shopadockets and vouchers. Take a discount when ever you can.
  13. If your a smoker try quitting or making cut backs.
  14. Drink lots of coffee? Try working out how much you spend a week on coffee? Think how much money you could save a year by making your coffee ate home.
  15. Drink more water. Besides being good for you bringing your own bottle to work is cheaper than buying soft drinks, juices or coffee.
  16. Always pay your bills on time to avoid late fee’s.
  17. Look for a cheaper home loan even a 0.1% saving can add up.
  18. Choose energy efficient appliances when buying new ones
  19. Find cheaper insurances
  20. Look after your car, Having a clean car with tyres at correct psi can make it run more efficiently saving you petrol. Also clean the air filter.
  21. Use lay-by instead of credit cards
  22. Wait for sales
  23. Don’t Throw things out if they have resale value.
  24. Make sure you have the best possible savings account. Highest interest rate. Lowest fees.


I could go on and on about ways to save money they are never ending. But even if you pick 3 its still more money than you were saving before. There will be more tips in Budgeting. Hope you’ve learnt something, set your goals and gotten started.


“The results you achieve will be in direct proportion to the effort you apply” – Dennis Waitley

 If you don’t think you can save any money? I have a nice little trick for you. This may sound silly, It may seem that it might not work because it is so simple, But give it a try and you will find a way to save money. Buy a small note pad and a pen, Take it every where you go and write down every thing you spend. At the end of the week look at all the little things you bought. Did you really need them? What could i achieve if i saved that money?  

What’s that coffee, Juice or little treat a day really costing you? Here’s what would happen if you were to put it in your super for retirement.