PART 1 – Tips 1 -12
How is your financial health? ….. everyone can improve their financial health by considering a few of the following tips…the first step is always the hardest… it is just like starting a fitness program…once you have started on the journey you feel great.
As with any change in health, small steps are simple, others take time or regular implementation to show the results across many areas of your financial life…. But anyone can do them.
So what is the health of your hip pocket?
How To Shop Safely
- Write a list before you go shopping – and stick to it. Food shopping forms a significant part of everyone’s monthly outgoings and the supermarket is where the bulk of the money is spent. Never go to the shops without an idea of what you need. Don’t put anything in the shopping trolley that’s not on the list, no matter how tempting, and you’ll come out of the store saving a bundle.
- Master the thirty day rule. Whenever you’re considering making an unnecessary purchase, maybe that new pair of shoes (of course they are not unnecessary), wait thirty days and then ask yourself if you still want that item. Quite often, you’ll find that the urge to buy has passed and you have found another pair. By doing this you’ll have saved yourself some money by simply waiting.
- Do specific shopping right after an event such as Christmas shopping after Christmas. Get wrapping paper and cards after Christmas. The day after Mother’s day get a Mother’s Day card for next year. Get Easter egg decorating kits the day after Easter….no I am not saying buy the eggs and store for a year. You will find some amazing discounts and all you need to do is remember where you stored them!
- Don’t go shopping when hungry…you always seem to buy more when you do this.
- Do you need to buy designer labels
Celebrities are given expensive clothes to wear. You’re not. At the end of the day, and let’s face it you may only wear the outfit once, can you justify paying hundreds for a top designer that has had his or her name sewn on the label? These days, can you tell the difference? Think about it, maybe buy designer for a special occasion only.
- Learn to say ‘no’
Well sometimes easier said than done….shopping with children…”can I have this?” say no or think about shopping by yourself. How often does a quick drink after work turn into more than you expected…wallet often a lot lighter at the end of the night. You don’t need to say no all the time but a few times a year, can create some good savings
- Keep your credit card in a safe That’s right the safe….not your wallet – you will be amazed how much you save when you do not have access to easy cash or credit. Alternatively if you must use your credit card, ensure that you pay off the full balance each month. When you don’t have access to credit it makes you think twice – do you really need it and if the answer is yes….it may mean a second trip to the shop giving you more time to think ….do I really need it?
- Buy staples in bulk. Now if you are saying you don’t have storage space, buy in bulk with a group of friends or neighbours. There are more and more stores offering discount bulk shopping opportunities and online as well.
- Take cash. Taking only cash on a night out limits how much you can spend. Otherwise it’s easy to get carried away and spend a lot more than we intended. Take advantage of happy hours!
- Always ask for a discount. You might be amazed how often stores say ‘yes’! We often do this when travelling overseas, so why not at home.
- Read your junk mail – there are bargains to be had!
- Check Unit Pricing at the Grocery store
Stay Tuned for Part two of how to save money or give Jan a call on 0468 371 449