Ten Awesome Tips on Saving Money this Christmas
- Have a budget. It can stretch the brain setting it up, but it is so worth it once you have it. Keep your receipts for a couple of weeks to work out where all your money goes.
- Write your budget down. Spreadsheets are excellent for this. Initially don't worry about getting it perfect. You can sharpen it up as time goes along.
- Develop a system so that money goes into expenditure areas straight after you get your pay. This could be as manual as cash in labelled jars through to automatic transactions in net banking to other accounts. Find accounts that have nil fees.
- Expenditure areas could be utilities; vehicle; food; holidays; clothes; gifts; house; medical; loan repayments; memberships; savings; and donations
- Group the expenditure areas so you don't have too many "jars" - aim for around 6. We have 5 netbank saver accounts for example
- Take the time to shop around. Compare Aldi versus Coles versus Woolworths for example. It is amazing how much you can save on your food bill
- Compare prices of gifts on the internet. For example we sell Kids Sandpit Diggers on eBay for a fraction of the cost you will pay from a store
- If you use a credit card, pay it off every week. If you cannot manage this, get a debit card
- Check out your phone plan. There are great plans out there that will save you truckloads. Often grouping your mobile phone with internet and landline can save you money.
- The most important tip - be PATIENT. Pay cash for things. Avoid credit and loans. Don't rush out and buy that car on credit just to chase a good image.
Cheers and have a great Christmas.