With living costs always on the rise, and those stressful interest rate hikes, debt can be an easy category to fall into. However there are a few everyday things that may help you to save money. Here are a few great tips to assist your dwindling wallet:
- Write down all your expenses for the week, find out where all your money is going and prioritise, can you cut back on any little things? You will be surprised how much you can save in a week if you don’t buy that extra car magazine.
- Give yourself a weekly allowance for expenses. You use what you use, and after that, when money is gone, it’s gone.
- Try packing lunch and snacks when you go to work, reducing purchased lunches can save you a surprising amount.
- Use your mobile phone wisely. As James Currah, General Manger of Boost Mobile suggests, “I take full advantage of the free-call periods provided by my mobile service. I also make a quick call to friends and family instead of texting back and forth, which is more expensive.”
- With petrol prices reaching almost $2.00 a litre, it is valuable to consider whether it is actually worth driving everywhere all the time. Can you use other means of transportation? Catching the train into the city might actually be quicker as well as infinitely cheaper.
Saving can be difficult, however by just looking at your current expenses and a few simple ways in which you can cut back unnecessary costs, it can save you a lot in the long run.
If you are struggling under the weight of debt, perhaps it is time to think about refinancing as an option. Consolidating your debts into one easier monthly repayment can save you the stress and pain of scraping together enough every week to pay living costs.
For more information on how we can help you, contact us now on 1300 138 188.