Stop Throwing Money Away With These Cash-Saving Hacks

There are things we need to buy and things we want to buy, but working out the difference between the two can be a super-saver for your budget. There’s a lot of joy to be found in being thrifty. Getting the best deal or seeing your savings account in double digits for once. What a feeling.

This article is brought to you by 7-Eleven. Find the best local fuel price. Lock it in with their thrifty fuel app

1. Budgeting app

Welcome to your new best friend.

I’m amazed by people who don’t have a budget. How on earth do you save? You don’t? Oh, well get one.

It is a real shock to the system once you realise you spend $300 on Ubers last month and $10,000,000,000 on going out and avocados. I started on Pocketbook, which can sync to my bank accounts across different banks to work out where my money goes. But there are plenty out there like DollarBird and YNAB (You Need a Budget). They have notifications that not only tell you when you’re going over your budget, but kindly congratulates you when you manage to stick to it.

2. Marie Kondo your spending

Put. It. Down.

It’s time to stop the impulse buy. Will this bring you joy? What about after it’s been kicking around your house for a few weeks? There are so many things that look amazing, feel great to hold — they’re designed that way so that you buy them. But that warm, fuzzy feeling doesn’t last forever. Skip the buyer’s remorse and plan your spend more carefully. It will bring you joy in the long run.

3. Find the cheapest petrol around and lock. it. in.

Be savvy at the petrol pump.

Our cars are an everyday necessity, so is fuel. That doesn’t mean that we have to suck it up and pay what’s at the pump. The 7-Eleven fuel app is a great way to suss out the cheapest prices around and lock them in for a week.

4. Segment your bank accounts

Hide your money…from yourself.

You don’t need a labyrinthine network of secret accounts. Most banks will allow you to divvy up your accounts into spending accounts, high-interest savings accounts and rainy day accounts. Make sure they’re not charging you fees to do it – there are plenty of banks that don’t charge account fees. This means you can see at a glance how much is left in your spending account, or feel that spark of success at your savings goal getting closer.

5. Compare prices on everything

From phone plans to gym memberships – compare all the things.

Don’t take the price of something at face value. Negotiation 101. While you may not need to be a master negotiator, you can certainly spend a few minutes checking out what’s on offer. Take your phone plan, for instance. There are a stack of new providers out there that are extremely competitive.