Saturday, 2 February 2008

Money Matters #4 - 10 Simple Money-Saving Tips for 2008

Another gem from the February Money Magazine. Simple Money-Saving Tips. Apparently these tips are not difficult and will save us stress.

Tip 1 - Carry cash instead of credit cards - psychologically it is meant to be harder to spend cash (and you pay no interest)
Tip 2 - Buy fewer takeaway meals - if you are time poor, use home-made quick meal options or cook 'double recipes' and freeze the left-overs. 
Tip 3 - Plan your purchases to avoid impulse buying - grocery shop from a list, look high and low when shopping, they hide the cheaper items there.
Tip 4 - Cut your work expenses - take your lunch to work (at least 3 or 4 times a week will save you $500) and use public transport rather than driving or taking cabs
Tip 5 - Use tap water rather than bottled water
Tip 6 - Shop wisely - at sales, outlet centres and on the internet. Stick to a budget and compare prices.
Tip 7 - Shop around for financial products (like insurance) - get at least three quotes
Tip 8 - Pay your credit card bills on time
Tip 9 - Cut back on fees generally - things like late fees, ATM fees, bank fees. Get organised and save.
Tip 10 - Put catalogues in the bin - Don't be tempted by seductive, glossy advertising


Life In A Pink Fibro said...

And here I am commenting on virgin soil. My link this week had 0 comments too. Must be those kinds of posts..

Anyway, love it. All solid advice.

Alice Becomes said...

The pay with cash instead of cards point is a good one for me...And the impulse buying. I am a marketing company's dream girl...

ronetta cheryll said...

i absolutely love this post. it's very informative, and i will be linking this to my blog

thanks for this! :)


Shelly - Tropical Mum said...

All great tips. Thanks for sharing these. I try to adhere to most of these, but really have a hard time with the credit card ones.

Looking for Blue Sky said...

I agree with most of these except Tip One! If you pay them off every month, credit cards do exactly what they say on the tin - provide free credit :) And I do worry about carrying cash, perhaps because I live in a big city....

Mrs Catch said...

One problem with paying with cash is kids. "Mum, I need $5 for the excursion... Mum, can I see a movie with my friend" etc. If you have to go to the teller to get it out, somehow less seems to be spent!

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