How to Save Money Quickly
Instant savings boosts are 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.
Never pay your renewal either. Insurance companies rely on people simply paying the renewal but if you get a fresh quote, it’s always cheaper. Most people I know save a few hundred this way.
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.
Check speeds, what is included in the contracts, cancellation fees etc. There are a variety of options so do your research and get the right one for your situation.
4. Renegotiate With Your Bank
Ask for a 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. You can save thousands over the years of your loans but getting a better interest rate. Be sure to compare everything else though such as redraw options, other fees and charges.
5. Do A Pantry Cleanout
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. There are numerous ways to use up leftovers and what you have. E.g. 29 recipes for leftover chicken, 20 recipes for a leftover sausage and 25 recipes for leftover ham.
Plus, get $50 off your first HelloFresh box or $90 off HelloFresh with $40 off your first box, $30 off your second and $10 off each of your third and fourth and 40% off your first box with EveryPlate. Marley Spoon offers $100 off, split across your first 4 boxes as $40, $30, $20 then $10.
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. Walking is better for the environment and better for your health.
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.
Anything you don’t want to fix, think about how you might be able to change it. E.g my daughters ripped their leggings so we cut them to make them shorts and they loved them. Old men’s shirts can become girls dresses or used for art smocks.
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 cap.
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 effect 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.
What are some quick ways you can save money?