How To Save $50 A Day
MSN Money has done an amazing breakdown on everyday savings we can make. Over a course of the year, combining all these could end up saving you an average of $50 a day. Here’s are some of their tips.
Automatic Debit
Working out all your bills so they can be automatically deducted might seem like a bore, but it’ll save you time in the long run and… save you money. If you are late with your payments rarely, say 5 times a year, you’ll still save $175 per annum due to the automatic deductions.
Your Bank’s ATMs
Laziness is my curse. I’d rather not walk very far, and pay $2 every time I use the ATM. Until, that is, I realized it was costing me $90 a year, Well, actually probably a fair bit more than $90 a year, considering how lazy I am. So use your bank’s ATMs and save big. I might also end up saving money on gyms fees, as I’ll have less need for last-minute emergency cardio.
Consider Balance Transfers
If you see a 0% balance transfer for your credit card debt, consider changing across. It’ll save you money in the long run, as long as you commit to cancelling the first card. It’s the first step of steep decline if you keep both cards, and one of the easiest ways to fall into credit card debt.
Refinance Your Mortgage
I can’t claim to know anything about mortgages, but the fine people at MSN Money suggest now is a good time to look at refinancing and fixing at the current low rate. If you can fix your repayments over the next 30 years at a delightful 5 or 6%, you will not only ride out the coming lows and highs of finance, but also have a good idea of how to budget and plan your finances over the same time period.
Brown Paper Bags
Packing your lunch will save you a fortune. Well, it’ll save you a grand a year, which is a fortune when you think how many plane tickets you could have bought over the past decade. You don’t even need to be too harsh- you can save an average of a grand a year and still treat yourself once a week to a store-bought lunch.
Go Veggie
Vegetarian meals are always cheaper to make or order in a restaurant. Think about laska- my favourite food. You can get a vegetarian laksa for $10 in all good places. You’re likelyto pay $14 for beef, and $16 for seafood. If it’s a family of 4, you’re talking savings of$16 a meal right there. So it doesn’t hurt to go veggie once or twice a week, in fact, MSN Money estimates it saves about $624 a year, and it’s good for the waistline and environment as well.
Replace Old Whitegoods
Whitegoods are a major culprit when it comes to electricity costs, which make them a money drain. Think about upgrading your fridge and washing machine if they’re faulty, and find ones (even second hand) that are more energy efficient. It can save you a couple of hundred dollars every year, so will pay for itself pretty quickly.
Seal Those Gaps
Insulating your home properly, stopping all draughts and closing doors when putting AC or heaters on could save you hundreds of dollars a year. A simple snake under the door could be the ticket for big savings, a cosy closed-off lounge room likewise. It’s simple and effective, like all of life’s best ideas.
Related Posts
