Start saving

With living expenses soaring, just about every cent counts. But what if you had an extra hundred dollars each week?

Money magazine’s Deputy Editor Effie Zahos shares some tips on how to save big bucks every week:

  • Run the kitchen like a restaurant - save $25 per week - take advantage of seasonal produce, make use of leftovers, store foods correctly to make them last and do a regular stocktake of food in the fridge and the pantry.
  • Use generic brands - save $30 per week - if you buy generic toilet paper for example, you’ll save $4 per week. And if you opt for generic prescription brands you’ll save $3. The savings certainly build up.
  • Buy beauty products online - save $16 per week – one of many online beauty shops is www.strawberrynet.com . Here you can buy your favourite beauty products for much lower than the normal retail price.
  • Switch lights off - save $6 per week – we waste a lot of money on power. If you turn the lights off at the switch in the meter box from 9am to 5pm each day, this helps to break the bad habit of turning lights on during the day.
  • Utilities - save $4 per week – shop around! Money suggests if you enter your old bill details at www.goswitch.com.au it will come up with a deal just for you.
  • Car free day - save $10 per week – if you choose to walk your kids to school, walk to work or go an entire day without driving your car, then you’ll not only save money but you’re doing the environment a favour. We all like a win-win situation!
  • Set up VoIP - save $9 per week – make your calls over the internet and save on your hefty phone bill.

    Total saving: $100

It’s also very important to be conscious of your spending habits. Money suggests that you track your expenses carefully and indentify areas where you can afford to make cuts.

With wise moves such as these, saving for that overdue family holiday or brand new car is made that much easier.

For more information on effective ways to save, be sure to pick up your copy of this month’s Money magazine.

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