Things are tough right now, economically speaking, so it can be hard to know what you can do to save a little bit of money. Especially for us young people, things can feel like they are all over the place so we’ve got some finance hacks from finance expert Téa Angelos so you can start saving some cash.
Angelos is the founder of Smart Women Society, which empowers women to get smarter with their money, career, well-being and love life. The company focuses on breaking down complex topics, like finance, into simple and actionable tips which Angelos has done for us here.
5 ways to save money now
Cancel unused subscriptions
They’re easy to forget but subscriptions can quickly add up if you don’t use them regularly. I’d hate to think of all the random free trials I signed up for and ended up forgetting about.
“To save money, make a list of all the subscriptions you have (if you don’t know what they all are, look back on your last month or two of bank statements for any recurring payments) and cancel any that you’re not using or don’t need,” Angelos said.
“This can include things like streaming services, gym memberships, or app subscriptions. You can always sign up again later if you decide you miss the service.”
Use cashback platforms and loyalty programmes
Angelos recommends using cashback platforms that allow users to earn a percentage of their online purchases back in cash.
“Cashback websites can be a great way to save money on online purchases, and they typically offer a wide range of retailers and products to choose from.”
Loyalty programmes are also a great way to save money because they can give you access to additional savings and exclusive offers. This is obviously more useful if you shop at one retailer a lot.
Sell old items around the house
Not only will selling old items around your house help declutter your space, it’ll also earn you some extra money.
“By selling these items, you can create more space in your home and generate some cash at the same time. Online marketplaces make it easy to sell items to people in your local area or around the world,” Angelos said.
Cook at home and meal prep
Eating out frequently is something I’m guilty of even though I know it’s expensive. Angelos says a great way to avoid the urge to order food is to meal-prep for the week ahead.
“Buy groceries in bulk and plan your meals in advance to save time and money,” Angelos said.
“You can also save money by buying generic or store-brand products instead of name-brand items.”
Shop around for better deals
It’s time to be savvy with your shopping and look around for better essential service providers that can save you money on everyday expenses.
“People don’t realise how important it is to shop around for alternative providers, often thinking it takes too much time and effort,” Angelos said.
“However, doing your research, comparing prices, and switching services can save you a significant amount of money in the long run.”
Angelos said that places like Kogan, who are currently running a ‘Switch Week’ campaign, can help young Aussies get better value across essential services like energy, insurance and mobile.
There you have it, some simple yet effective ways to save yourself a little bit more money.
If you’re looking for some cheap date ideas, we’ve already got you sorted.