The 3 Most Important Ways to Save Money

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To save money you have to understand your spending habits. Let's face it, being frugal is a necessity for many people these days. It goes without saying that to save money, you will have to learn to go without many things as well as compromise on brands. It's also true that you will do a lot of home cooking but it's fine to get take away once a week. So if you have limited income make sure you do the following things:

1) Put a 'No Junk Mail' sign on your letterbox. This is the best thing I ever did! If I look at catalogues then I automatically think I need to buy stuff. But if there are no catalogues to tempt me, then I spend less - literally thousands of dollars less each year! In fact, the only catalogue I look at now is the Aldi catalogue for special buys. When you are budgeting, you learn pretty quickly that necessities are top priority. When I need to save, I mostly buy things to replace broken things and I go without some non-essential items (makeup, hairdressers, beauty salon, nail salon etc) . It's a real game changer because by buying only the things my family needs, I can afford to purchase top-brand essential household items such as a Samsung washing machine and dryer. So if you want to save money by spending less, stop looking at catalogues.



2) Use cash for everyday expenses such as food and petrol. You may think this is crazy but it works. If you start the week with $500 cash in your wallet, you will quickly become aware of how you are spending that money. You will start to question spending money on impulse buys or non-essential items. You will learn to control your spending because you will be more conscious of giving away that hard-earned cash. You will start to notice alternative cheaper brands at the shops. Cheaper does not always mean lower quality - Aldi has proven this to be true. Credit cards, on the other hand, make you feel like you can afford everything. This is dangerous, to say the least! Using cash is a great way to learn how to live within your means. But be aware that banks are closing at an alarming rate. They are literally forcing you to use credit cards and online banking. Why? Because they want to introduce digital currency. By using cash whenever possible, you will hopefully stop this disaster from happening.



3) Avoid paying retail prices. There are always bargains to be had. Take advantage of sales and markdowns from big retailers. Also consider buying second-hand goods from council tip shops, FaceBook Marketplace, garage sales, eBay, weekend markets, Cash Converters, etc. By not paying retail prices you will save considerably. For example, instead of buying a plant in a shop for $20, I found the same plant on FB Marketplace for $5.



Also, my son wanted to buy a certain fiction book so I looked for it on eBay. Retailers on eBay were selling it new for $17-$18. I found the book second-hand on eBay for $5.69 including postage. When we received the book a week later, the book looked completely brand new!



Remember, second-hand doesn't always mean worn and tatty! Buying second-hand items is also eco-friendly and saves items from going to landfill. So re-use, repurpose, and recycle as much as possible.

Once you have used the above steps successfully you will be able to save for bigger and better things or make extra repayments on your mortgage. Have fun saving!

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#second_hand
#self_help
#shopping
%wneverywhere