We have all come to the end of the month and looked at our bank balance with horror. WHERE has the money gone? You might have unconsciously been spending more than you realised. Have you given thought to any of the below?
Credit cards
With PayPass, it’s easier than ever to spend here, there, and everywhere. Like when you’re in desperate need of a flat white, a sandwich, or the new arrivals in running shoes at Rebel Sport. Most people don’t care for receipts, but downloading an app associated with your credit card will make you more mindful of what you’re spending.
Interest rates are also a culprit when it comes to depleted savings. This is even more of a reason to pay on time, or make a contribution to your outstanding balance.
Groceries
Most people do one major grocery shop during the week but there are several factors that make you overspend. Not that the grocery giants mind.
- Multiple midweek shops
- Not purchasing specials
- Buying name brands instead of home brands
Old fashioned method of staying disciplined: write a list and stick to it. Give or take a tub of ice-cream.
Eating out
You’re not Aussie if you don’t go out for breakfast! This is a great thing to do with family and friends, but try to curb it if you find yourself at cafes every weekend. Avo smash is worth its weight in a house deposit these days.
The on-demand economy has made it easier to ‘eat out’ without even having to leave your office or home. Uber Eats and Deliveroo, though convenient, will chew up that bank balance if you ‘forget’ your lunch or don’t meal prep.
Gym memberships
There’s lots of variety and some are great value for money. But direct debit/credit options mean that even if you don’t go that week, you’ll still get charged. Find a gym that you’ll actually attend and if possible, one that is doing a special offer. Reduced rates per week will save you money.
Cash could be the key to saving money
Get more free advice below:
6 Little Changes That’ll Make a Big Difference With Your Savings
