An instant savings boost is a great motivator to keep living thrifty. On a day to day basis it is the little things that really add up, but there are things you can do to get an immediate boost and reduce your expenses.
1.) Opt out of school fundraising
You don’t have to opt out completely, but pick and choose. Last year I took part in every fundraiser the school had. I was one of the few parents who paid the voluntary contribution as well I was told.
This year, I am opting out unless it fits my criteria:
– It happens in school hours such as a uniform free day. I want my children to be involved in fun things with their peers.
– It is something we will use. For example, they do a hot cross bun drive every year. I am gluten intolerant. I’m not going to buy something I can’t eat.
– It is within my budget. I have set an annual limit for school fundraisers now and am more selective.
I know the money is for the school, but at the same time, I am trying to teach my children to be financially savvy. Buying things you don’t want is a waste of money. I am currently comparing the expense of fundraisers and things in the public school vs paying high fees with no fundraising in a private school. It’s interesting so far.
2.) Compare insurance
You can do it online, anytime and switch instantly. The differences can be huge and while you will need to outlay money to pay for the new insurance, saving a few hundred a year is worth it.
3.) Compare phone and internet providers
Like insurance, this can be done quickly online. Depending on your contract it may or may not benefit you to switch. Even if you can’t you may be able to negotiate a better deal with your current provider.
4.) Renegotiate with your bank
Ask for lower interest on any debt you have such as a credit card, personal loan or mortgage. A mortgage is not a quick process to change, but sometimes all it takes is a phone call to have your interest on your credit card reduced.
If they can’t reduce it, consider switching providers.
5.) Do a pantry clean out
Go through the pantry, plan some meals and eat up what you have instead of shopping for anything else. Get creative and make your food stretch. Plus get $45 off with Dinnerly ($15 off each of the first 3 boxes), $50 off your first HelloFresh box and $35 off split over 3 boxes with Marley Spoon.
6.) Walk more!
It might take you a little longer to get around, but it’s something you can start doing today and it reduces petrol as well as wear and tear on your car.
7.) Check clothing for wear and tear
Check your clothing for stains, minor rips, buttons that need replacing, then schedule a time to do repairs. This can save you money if you take care of your clothing and make the minor repairs as needed instead of constantly replacing them when the small rips become big ones.
8.) Make a gift
Work out who you are buying for or what presents you can make ahead of time such as scented or infused oils, bath bombs, jams or if you have a bit more time make a fort/cubby house kit or a superhero cape.
9.) Automate savings
Set up a direct debit every time you get paid to automate your savings. Have it go into a high interest saving account you don’t touch. It only takes minutes to set up but the long term affect can be significant.
10.) Book in free fun
Do a quick search online to see what fun, free activities are on in your area. We have been to firework displays, festivals, tasted food, tried crafts and seen animals all for free.
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