Small Savings – Big Impact !!
Five Ways to Save!
Economic pressures around the world are affecting all aspects of our daily lives. Global financial issues affect prices of everything we purchase and though the price of your purchases might go up, your wages do not necessarily go up at the same rate.
So how can we combat this? We certainly don’t have the power to make changes at a global level. But there are some very small changes you can make at home that can save you a lot of money. And if you use this money wisely, you can make a huge impact on your financial situation in the future!
1. This sounds so simple, but know how much you earn and how much you spend. Without a record of your incoming and outgoing, these small changes won’t mean a thing.
2. Buy a smaller home. We are all so focused on the size of our homes these days, however smaller homes have many cost saving benefits. You will spend less on furniture, heating and cooling, rates…the list goes on. If buying an older home it is sometimes worth upgrading the light fittings and fixtures to accommodate newer, more energy efficient globes.
3. Purchase used items rather than going straight for new. Sites like Gumtree and local selling Facebook pages offer many pre-loved items for sale and you can make massive savings.
4. Limit how often you buy take-away foods. This includes your lunch at work. I know for my family, we can easily spend $60 a week on buying lunches.
5. Walk. If you can get to the shops by foot, then do it! You’ll save on petrol and you’ll likely save on your shopping bill too as you know you’ll have to carry the shopping home!
Start by making these changes a few at a time. Once you master these 5, you can move on to some new objectives! There are so many ways to save and every dollar will make a difference in the long run.
Shannon Bennett – Southern Cross Financial