Tell Us Your Favourite Money-Saving Tip?

What's Your Favourite Money-Saving Tip?

We all like to save money, especially when we find a clever new way of doing it. We've shared all kinds of ways to save money, but now we're curious to hear from you.

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What's your favourite tip for spending a little less or just for putting more into your savings? Tell us about it in the comments.


    Don't drink, don't smoke. Seems to work for me.

    But honestly, the key is to consciously avoid conspicuous consumption. Things that are good enough, usually are.

    In fact, there's another article on that today:

    Yeah, not drinking or smoking are good, I also have a regime in place where I buy bulk veges and par boil them into individual portions and then freeze them in sandwich bags. Been doing it for a few years now, carrots, broccoli, pumpkin and even mashed spud etc. I'd say we've saved a small fortune in vege that would normally go off in the fridge. Plus there's the convenience of just having to reheat in the microwave, just don't do it while it's in the sandwich bags... :)

    I have a regular direct debit set up to take money from my normal bank account (which has internet banking) to an account which hasn't got internet banking set up on it. This way I'm less likely to spend the money because I have to actually go into the bank to withdraw it (I'm lazy). By the time I've gone to the bank to get the money out, I've already forgotten about whatever it was I wanted to spend that money on (unless it's bills, which is completely different). I also try to transfer a little extra into that account whenever I can, rather than just sticking with the same amount all the time.

    I also have one of those big money tins. You know, the kind where you need a can opener to open it. I just put in whatever loose change I end up with, and eventually I've got some extra cash (last time I had approximately $500, but it was a very large tin). Generally I also always try to use cash rather than EFTPOS so I can limit the amount of money spent. When using cash, I also account for the change I'll get when working out a budget. Say I'm going out for lunch rather than taking a packed lunch to work. I'll round it up to $20 even though I know the food itself won't cost that much. That extra is the change, and because I've already accounted for it in my budget, I won't miss it when I put it in the tin.

    Of course, all that doesn't exactly happen all the time... >_> But when it does work it works out pretty well.

    One suggestion I read a while ago was to save all $5 notes, and relatively quickly you'll end up with a good amount of savings.

    I buy supermarket gift cards with a 5% discount (can get them through a variety of sources) - groceries are our single everyday expense and it saves us about $300 a year

    You can also do it with their bottle shops, the big shops like Kmart and Big W and even fuel

    Also, avoid alcohol and soft drinks, bad for you and basically just a money pit

    I own a Gillette razor and I only buy a set of replacement blades once or twice a year. Just buy a good can of sensitive foaming shaving cream and a single blade will last months. I have only once cut myself using an old blade. I've probably saved around $1,500 so far compared to what Gillette specifies.

      I switched to a Safety Razor about a year ago. The blades cost *cents* each, and I get between 5-8 shaves per blade. It's the best shave I've ever had (except for that close shave I got in Italy [Genoa] on my birthday)... Shaving has become a bit of a ritual for me that I thoroughly enjoy now.

      Or just quit shaving. Saves money and gets the girls.

    When you get your yearly insurance renewals, do a quote online for identical insurance (ie same company, same excess, same everything), it will usually be at least 5% cheaper. I just got my home building and contents policy renewal for $794, the online quote was $734. I rang to ask why and the guy said online is always cheaper. Asked if he could match it and he said no. So he just cancelled my existing policy and I proceeded with the online quote. I just got quotes for car insurance and it was the same, $40 cheaper for one car and $55 for the other. I'll never just renew my existing policy again.

      This applies to a lot of things too !. E.g. Domain name renewals, web hosting.. :)

    I try not to pay my bus fares with cash - I buy a TravelTen instead. It pays for itself in the end and I manage to save at least fifty cents a trip. That might not sound like a lot, but when you're on Austudy every little bit helps. Plus it means I'm not carrying around a lot of coins. I always try to keep at least $5 in my wallet just in case my TravelTen runs out and I'm not able to get another one before I go out (if it's the weekend for example), but for the most part I prepay my bus fares.

    Not being able to touch your money is great advice. I have a cash tube in my room (an old tube a poster I ordered came in) and both ends are sealed up, except for a slit in the top. Every week I withdraw some cash for things like buying drinks, or for places that don't have EFTPOS. At the end of the week, whatever I don't use, goes in the tube. Sometimes it's a handful of change, other times it's a $20 note. Got about $600 in there so far.

    I also put any cash-in-hand money in there. Got paid for the sale of a canvas print to a family friend, and the money went straight in the tube. Not gonna burn a hole in my pocket!

    Ride your bike. I save at least $50 a week on fuel.

    Don't replace something until it runs out.

    The money box idea is one that I have been using for years. For the most part I have a specific goal in mind (usually its travel-related). The other major cash saver (and thus money box filler) has been trying to take lunch to work as often as possible - that easily saves me $10-$13/day. On days where I do buy lunch, I try to take a refillable bottle of water. Using Lifehacker's recommendation I switched to the Telstra Cap Encore from a Telstra plan costing me $90/mth - that's saving me between $20 - $40/mth depending on which recharge I select.

    I go to the supermarket (esp early-late night) and specifically look for those little orange/yellow/red stickers saying reduced to clear etc. Then buy those and either use the product or freeze it, best use is for meats. Generally can find 40-60% discounts. Last time I did this spent $17, savings at the bottom said saved 15$.

    - I really love meeting friends over dinner and drinks, so I try to balance this by never eating out or getting take out for a meal I'm having on my own. This involves keeping a well-stocked pantry and freezer so even if I haven't been shopping that week, I can throw together something reasonably healthy for myself quite quickly. I keep food at work for really basic emergency lunches, too, in case I forget to bring mine from home.

    - I use my credit card for every purchase I possibly can. It makes it easy to track my spending, and I'm part of a rewards/points program for $80 p/a, which for which I get about $140-$180 cash back a year (through 'buying' the cashback option with points). Not for everyone, but it doesn't affect how much I spend (I've tried going cash-only to see if it makes a difference -- nope), and I never pay interest.

    My trick is I have a small wallet to carry my bank cards and notes around, but no room for coins. So each night when I am emptying my pockets, there is always some coins to put in the tin. The downside is you could be caught short of change for vending machines/bus if you havent used any notes that day.

    This one sounds counter-intuitive but works for me without fail.
    Carry around a lot of money! I rarely have less than $500 in my back pocket. (yes i'm a larger guy and ugly and mean looking)
    The way this works is I consider every purchase, big or small.
    My back pocket says I can afford it if I want it but that makes me think do I need it.
    I never get caught thinking "it's only $80 I got 80 in my pocket and money in the bank bugger it".

    Edit, I think I got this tip from a brilliant book "rich dad poor dad" If you want more money read this book!

    Last edited 11/02/14 12:09 am

    I have a coin tin I can't open, on occasions I put notes in there. I have recently opened it to count and I'm going to change it into notes and put it in another tin to top up with coins. Each pay I have a set figure direct transferred to an online only account.

    I cook in bulk where I can to freeze and I always have food.

    I'm lucky I live near a shopping centre with all the majors. I shop at Aldi for most, top up at Coles/Woolies. Green Grocers are much cheaper for fruit and veg, and generally nicer.

    I buy my cleaning products from Sam's Warehouse as they have a cruelty free range for $1.99 for whatever I need! And I've started using Bi-Carb Soda for almost everything.

    Don't forget places like the Reject Shop where they'll sell brand names.

    Bulk buy toilet paper, if you're a Costco member you probably know this already :)

    I'm open to hearing more. I'll do almost anything to save $1, and still have a life :)

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