Ok this is a big call. Can you really save $3,100 before Christmas?
Of course, we know not everyone will be able to achieve all the tip
Sourced from expert savers like our mums, mates, the internet (thank you OzBargain) and actual experts here’s our best go at saving you enough money to get through Christmas with out debt!
Round up your transactions: $120 ($20/fortnight)
Some bank accounts will round up each purchase and automatically save the money into a seperate account. Our (non)scientific research suggests that you could easily save $20 a fortnight.
Use: ING, Raiz
Go to your friend or relatives for dinner once a week: $240 ($20 / week)
Cooking in bulk is a great way to save, but what if you don’t have the fridge or freezer space?
In that case, try sponging off a relative instead. Whether it’s your mum’s or a MasterChef wanna be mate, get yourself invited over for dinner and eat for free!
Don’t buy coffee: $0
Jokes. We wouldn’t expect anyone to make that sacrifice.
Skip brunch (sorry): $360 ($30/week)
Yes, we’re suggesting you skip the lovely brunch out with friends. But replace it with something equally as lovely and free! We like a stroll along the beach with a coffee, or even cheaper, a thermos of tea from home. Or go for a hike in the bush!
Skip the (expensive) drinks: $360 ($30/week)
Don’t become a hermit and drink wine out a bag on your couch (unless you’re into that).
But the truth is that headed into festive season, there’s more free drinks around than you realise.
Make it a priority this month to socialise at fun things like art gallery openings, local Christmas parties or your office drinks. Look on the meetup page for events with free or cheap drinks or keep an eye out for gallery openings on instagram.
You don’t need to buy new things : $600
A wise friend to MoneyPlace told us: “The best saving strategy you can make is to realise you don’t NEED to buy almost anything. You just need food, shelter and utilities and that’s about it.”
The most recent Australian Bureau of Statistics info tells us Aussies not in financial stress spend an average of $659 per week on discretionary expenditure.
So look at your bank statement and acknowledge your vices (ours range from books, shoes, clothes, sneakers, lego and plants) and challenge yourself to not buy anything new for three months. We think you could save at least $50 a week!
Put your subscription service on hold: $20/month ($60)
Most of us have subscriptions we’ve forgotten about or just don’t use. Grab your latest credit card statement and see which ones you can cancel – we’re betting there’s at least two.
Ride a bike or walk to commute: $516
Ride a bike, walk instead of train or tram. We know this isn’t possible for everyone, but for those who can, it’s a big saving.
Gym membership: $100
Don’t stop exercising – just stop paying for it.
Most gyms will let you put your membership on pause for 1 month. So do that, and spend the month trying out new free trial classes, different gyms or even using the free workout stations in the park.
Consolidate your debt : potentially hundreds!
A cheaper interest rate could immediately save you money on any loan. Credit card interest will end up costing you thousands. Pay it off or, if you have more than $5000, considering consolidating it into a lower interest rate personal loan.
But the best way to save is to earn more! Try these:
Sell yourself: $500
Everyone is good at something.
Whether you put your DIY renovating skills or you’re a good cleaner, dedicate a spare hour to an Airtasker job for some extra $$$.
Alternatively, if you’re creative, put your painting, creating or writing talent to use on platforms like Etsy, Freelancer or to your immediate circle of contacts.
Sell your stuff : $300
Got some leftover presents it might be a little too obvious to re-gift? Now’s the time to onsell them. Facebook MarketPlace, Gumtree and Ebay make for easy options to sell the stuff you don’t need.
And of course there’s the options of Airbnb if you have spare space or renting out your car on a car-sharing platform.
In total that’s over $3,100 you could save over just three months.
Got better ideas? Tell us on our Facebook page!