Saving money is a topic that is constantly on our minds. Every time our phones ping to let us know more money has left our accounts or we have to make a big, unexpected purchase, like for car repairs. We wish we had been responsible and started a savings pocket long in advance.
The most difficult part of saving money is starting. We suggest that you make small changes at first because making small changes to save can make a big difference in the long run. Everyone has their own unique way of saving, depending on each person’s individual priorities. If you are looking for tips to save money quickly, you have come to the right place.
TIP 1: Make Savings Smart Food Choices
One of the easiest, simplest ways to save money quickly is to limit your family’s fast food intake. Fast food is more than MacDonalds and KFC, it’s stopping to buy a sandwich at the deli or making a turn at Woolies to buy a bag of cheese puff pies. Buying these food items eats cash (pun intended) and the best way to avoid wasting money on them is to premake your food at home.
By buying in bulk and preparing your meals at home, you are making a healthier choice for your wallet and your body too. Homemade meals have fewer preservatives and chemicals in them and you can choose to buy groceries sourced from farms that are also making better decisions for the planet. We think preparing your meals at home is an all-around great decision.
TIP 2: Minimise your Electricity Bill
Another way to save money quickly is by having a good look at where you can lower your energy usage. Electricity prices are through the roof and most households can do more to optimise their usage. A great place to start is by putting your hot water geyser on a timer. Figure out when you prefer to shower and make sure there is only hot water for that time, otherwise, the geyser wastes energy by keeping the water hot all day. This is unnecessary, especially if you work during the day.
Turning off unnecessary lights and changing your lightbulbs to the more energy-efficient LED types is also a great way to lower your electricity costs and save money quickly. Selling appliances that use a lot of electricity will also help you save on your energy bill in the long run, but it will also give you an immediate cash injection to get your savings pocket up and running in no time. If you are looking to make a cash-saving investment, we would suggest you look at introduce solar power to your home.
TIP 3: Start and Keep a Budget
Our final, and most important, tip to save money quickly is to keep track of your income and spending (especially your spending). Budgeting is super important because you need to know where your money is going. You could be spending way more than you can afford to on one area and not even realise it.
Once you know where you are spending your money, it becomes a lot easier to adjust your spending and, in turn, save that money. When your budgeting is under wraps and you are saving in every area you can, it’s time to start a game plan to pay off any debts that you may have. This is only really possible through budgeting. Don’t feel overwhelmed though, budgeting can be simple. Many people overcomplicate budgeting to the point where they paralyse themselves and never use the budget. Keep it simple and straightforward.