Simple money saving ideas that work

We all want to save money, we all want to learn how to save money and we all preach the benefits of savings, yet we continue to struggle when it comes to having new ideas on how to save money.

Today I thought it would be a good idea to just have a small chat and throw a few money saving ideas back and forwards for people looking for money saving ideas to get motivated.

Money Saving Ideas

In order to throw around multiple ideas, I thought it would be best to categorise the money saving ideas by who can use them. We will look at money saving ideas for the family, students, parents, mum and dad and pets.

Money Saving Ideas for the Family

• Collectively agree to shower for 5minutes less each day, using a maximum of 3minutes each for a shower.
• Save money on electricity by turning off all unused lights.
• Limit eating out to once a month.
• Shop around for high priced items like greenslips or TVs.

Money Saving Ideas for Students

• Vegetable soup is cheap, healthy and good for you. Try eating it a few times a week to save money.
• If you are renting, collectively agree to shower less, not leave lights on, buy groceries required for common use in bulk and also limit the amount of guests you have over.
• Collect used furniture on council pick up days and sell at the weekly Glebe Markets.
• Do not eat out.
• Drink once a fortnight as drinking in excess is not only bad for you, but will eat away at your wallet.

Money Saving Ideas for Parents

• Move for a cheaper wine that still tastes nice. Limit buying expensive wine to when entertaining.
• Get the kids involved in saving habits. Scroll through some of the SavingsGuide.com.au categories and read up on different ways to save money, relay it onto your children – it could possibly help them greatly later on in life to be taught financial thinking from a young age.
• Start a savings plan for your childrens education. If you saved for 5 years from when your child was born, you could easily put away enough money for a decent amount of years of private education in older years.
• Buy energy efficient light bulbs for the house. Save money and save the environment.

Money Saving Ideas for Mum

• Consider Googling ways to make your own home chemicals for cleaning. Saves you money and helps the environment.
• Make your own private high interest savings account and deposit $50 a week for 3 years, you will save over $12k.
• Eat before going shopping for groceries, this will help you limit impulse buying.
• Shop on Fridays – its been proven to be the cheapest day of the week for everyday items.
• Fill the family car up with petrol on Wednesdays, the cheapest day to buy petrol.

Money Saving Ideas for Dad

• Take a packed lunch to work each day.
• Dont buy coffees, make them yourself.
• Catch public transport when possible, saving money on transport and car costs.
• Start a savings plan for you and your wife, create a nest egg for the future.

Share you money saving ideas

Share your money saving ideas with the community, there must be hundreds of great ideas out there!

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