What Are Your Best Saving Tips?

DealWatcher27 on 29/06/2019 - 19:04

Hi all, I am compiling a list of Australian saving tips. I think no community better than the Ozbargainers in this! Please tell us what are your best saving tips? Below are mine

  1. Compare energy suppliers to make sure I am getting the best deal. Visit the Australian Government's Energy Made Easy website, or the Victorian Energy Compare website if you live in Victoria.
  2. Track the desired flight price with Google Flights. Receive the alert and buy when the price drop.
  3. Transfer spare funds to a robo investment account like Raiz
  4. Set up auto transfers to a high interest savings account
  5. Shop via cashback sites like Cashrewards and Shopback
  6. Shop with discounted gift cards
  7. Visit Ozbargain for good deals every day

Please share your ideas

Financial

Comments

        • James Nav on 01/07/2019 - 09:34
          +19

          Make zero sense. Since you're not getting any interest you are actually LOSING money due to inflation.

          • OG Puppy Banana on 01/07/2019 - 13:43
            +1

            @James Nav: Agree, though I believe that this is a widely used and effective tactic by people who are terrible at saving money.

            By making sure they never see their savings until their tax return, they can almost guarantee themselves a couple of grand a year saved and force themselves to do more with less each pay cycle.

            I think the most common method is to forego the tax-free threshold and get that 4-5K back as a return.

            Source - https://www.savingsguide.com.au/tax-free-threshold-savings-s…

            • parisienne on 02/07/2019 - 18:49
              -1

              @OG Puppy Banana: Just a little "heads up" OG Puppy Banana…..i am actually pretty great at savings (months away from being mortgage free / a couple of hundred on CC's / no car repayments etc),but the tax thing is an added bonus we use to buy stuff we want / need with no loans.

              • neyo on 02/07/2019 - 23:16
                +3

                @parisienne: You're not great at saving if you think thr ATO is the best place to store your money

    • John Dough on 01/07/2019 - 07:16
      +11

      Don’t do this if you have a home Loan. Bang it off the principal and re draw if you need it and only if you need it.

    • witsa on 01/07/2019 - 09:54
      +9

      Why not just get them to divert some of your wages into a separate bank account you don't touch?

  • Frangipani on 30/06/2019 - 12:26
    -1

    Like Parisienne my husband has extra in tax taken out and at tax time we get a big lump sum which we use for something we need or want.
    We also shop at Aldi instead of woolies or Coles.
    We use warm blankets instead of heaters.
    We save our gold coins.
    We take our own food to work or outings.
    I buy birthday and Christmas gifts when I see reduced and put away in my gift box/chest.
    I use ozbargain 😊

    • Nick939 on 02/07/2019 - 02:43
      +1

      You may not be a sheep, but you certainly speak like one. :)

    • johnno07 on 02/07/2019 - 06:49
      +2

      You sound like you've been vaporising since you were 5.

  • ozbjunkie on 30/06/2019 - 18:44
    +13

    Don't do drugs
    Grow your own weed if you must
    Cook your own food, buy with 5% off Woolies and cashback
    If you must eat out, use the fork 50% off
    Stop buying stuff, you probably don't need it.
    Don't have a relationship unless they are also a bargainer.
    No kids unless you really want them.
    Only travel if it would still be worth it to you if Facebook didn't exist and you had no friends (or you're not just ticking a box like a sheep)
    Piracy is your friend, it's illegal, but it's a way to save money, so in it goes.
    Working out is free (even gym memberships aren't that expensive and it ties up lots of free time)
    Don't have a car unless you're a tradey
    drink water not softdrink, coffee, or juice
    Spotify family plans (or ezblocker if you're a total pov)
    Grey import or second hand technology, a generation behind forever
    Use things until they are useless, don't upgrade or buy anything until the old one is no longer functional. You'll look like a bum, but you will be free of debt.

    No debt
    No debt
    No debt

    • Samsungnote10 on 30/06/2019 - 19:30
      +8

      -Only travel if it would still be worth it
      to you if Facebook didn't exist and you had
      no friends (or you're not just ticking a
      box like a sheep)

      Well said, hilarious how many people probably wouldnt go if they were told no selfies

    • de9299 on 04/07/2019 - 15:10
      +2

      "Only travel if it would still be worth it to you if Facebook didn't exist and you had no friends (or you're not just ticking a box like a sheep)"

      Quote of the year!

      • ozbjunkie on 04/07/2019 - 15:38

        Hooray! Just another day in my life - self justifying how boring I am. My favourite is to pretend I'm a "thinker".

  • Vert93 on 01/07/2019 - 04:04
    +36

    Poop at work

    • Trying2SaveABuck on 01/07/2019 - 15:03
      +2

      Also shower at work if you can

    • RSmith on 01/07/2019 - 15:55
      +8

      … in the toilet please.

      • funnysht on 01/07/2019 - 17:08

        sleep there too

    • nomoneynoproblems on 01/07/2019 - 20:07
      -3

      Lol this. Girls use up so much toilet paper it's not even funny.

      • ozbjunkie on 04/07/2019 - 15:40

        That's why I hide the TP when they come round. They will learn to bring their own, or I will find a smarter lady.

    • Cluster on 02/07/2019 - 15:55

      Use both sides of the toilet paper

  • bl1027 on 01/07/2019 - 09:11
    +1

    Export your bank statements and group your spending into categories - mortgage, food, transport, clothes etc. It can be a real eye opener what you spend your money on. Then, tackle the big ticket and reoccurring items first.

    No point trying to save $10 off a once-off purchase if you are wasting $100s every month by not getting the best mortgage rate. I don't worry about trying to the dollar saved here and there (eg. by switching off the lights or shopping around to get 50c off) because I know I've got the big items covered.

    • Shwayne on 01/07/2019 - 14:44

      Lets be honest people suck at budgeting, instead of budgeting you can just limit your spend, when you can't afford groceries because you had a bender the night before you'll realise how much the night out really cost you, you might be tempted to just hit up your savings but you should really discipline yourself.

      It will force you to make conscious decisions about spending large amounts of money.

  • 1mmy1mmy on 01/07/2019 - 09:13
    +1

    Give up all discretionary purchases for six months/a year, or give up all 'first hand' goods for a year a go exclusively 'second hand' (op-shops, Gumtree, eBay). It will save you heaps and break the need it NOW mentality.

    When you travel, book clean but basic hotels/airbnbs. I find if I spend too long on one of those booking sites I start rationalising $200pn on a place to sleep so I try to get in and out as quickly as possible. Book airbnbs occasionally so you can do your washing. Also on travel, get a card that let's you take out money in the cheapest way (ing/360).

  • RocketSwitch on 01/07/2019 - 09:55
    +4

    Review your interest rate each year by going to your local branch and say, "x bank is offering me y amount, can you match or beat it?"

    So apply the above to:
    Insurance
    Utility providers
    Internet
    Phone bills

    • danz84 on 01/07/2019 - 17:59

      totally agree although in WA the utility is monopolized by one company, but always look for few quotes for insurance, every time there is a renewal. 8 out 10, it will be cheaper.. at least in my case.

      if you live in good coverage, use annual prepaid Kogan mobile to save on mobile bills.

  • Akya on 01/07/2019 - 10:09

    Don't spend more than what you earn.
    Eliminate debt, stay out of bad debt.
    Get a financial planner/advisor.
    Have a budget and stick to it.

    I spend more on income protection and other insurances and financial advisor fees but somehow managed to save $10k in the past 6 months. I also now have a managed investment portfolio worth 7k which we started from scratch, but there are monthly deposits with a margin loan.

    • [Deactivated] on 01/07/2019 - 12:40
      +1

      Financial advisors are a joke. Insurance salesmen in disguise.

      • Akya on 01/07/2019 - 21:02
        -1

        Not all of them… most people rely on a professional to service their car, but a lot of people won’t see a professional to service their finances?

        • [Deactivated] on 01/07/2019 - 21:51

          A chartered accountant is a professional, there's little regulation in the financial advisor industry.

    • Shwayne on 01/07/2019 - 14:39

      managed investment portfolio worth 7k

      I spend more on income protection and other insurances and financial advisor fees

      but there are monthly deposits with a margin loan.

      Not sure if.

  • [Deactivated] on 01/07/2019 - 10:50
    +5
    1. Realise that life isnt about money and saving and just work to something that satisfies you
  • idonotknowwhy on 01/07/2019 - 12:08
    +2

    I think no community better than the Ozbargainers in this!

    Join a FIRE community on reddit or discord and read the personal finance sections.
    Also have a read of [this book] (https://www.goodreads.com/book/show/998.The_Millionaire_Next…) to help curb spending.

    • Nalar on 01/07/2019 - 19:43

      whats a FIRE community?

      • codinghelloworld on 02/07/2019 - 09:12
        +1

        financial independence retire early.

      • idonotknowwhy on 02/07/2019 - 10:22
        +4

        Financially Independent Retire Early
        https://www.reddit.com/r/fiaustralia/

        You're more likely to get saving and investment ideas there than a site which promotes consumer spending.

        Not that there's anything wrong with this site, it's just not really the best place to hang out of you want to focus on saving.

    • neonixcoder on 04/07/2019 - 08:09

      @idontknowwhy, Do you know any discard FIRE groups, if yes please share link here.

    • ozbjunkie on 04/07/2019 - 15:44

      I would love to go for FIRE, but if I work more than about 20 hours a week I become increasingly moody, depressed, lethargic. Less than 20 hours and I'm cooking healthy dinners, hitting the gym, seeing friends and family and engaging in hobbies.

      I describe my approach as "reverse retirement" - basically you take it easy when young, don't spend too much and definitely don't wear yourself out, enjoy each day, and hopefully prosper in relationships and spirituality and intellect, but not necessarily financially. My folks have a different phrase for my approach, "ruining ones life".

      Time will tell.

      • AncientWisdom on 12/07/2019 - 14:38

        As long as you're aware of compound and what your future self won't have I think it's ok.

        Are you sure this 20 hour is true no matter what? You could just be in the wrong career. For myself I found about 3-4 days a week is the sweet spot, but of course many jobs aren't that flexible.

        • ozbjunkie on 12/07/2019 - 16:17

          Pretty much no matter what. I don't want to put 40 hours a week into anything, including the hobbies and interests I'd pursue for free.

          Life is for living, not for working and posting pics on Facebook of the one night per fortnight someone managed to be on a boat.

  • [Deactivated] on 01/07/2019 - 12:52

    When you fill-up your car at the petrol station, lift the black hose before and after pressing the trigger. You will get some free petrol trickling into the tank. @1.50 per litre, estimating 50ml extra per fill, that's a saving of 0.075c. Fill up your car every week for 50 years that's an extra $195 in your pocket. You're welcome.

    • Trying2SaveABuck on 01/07/2019 - 14:49
      +1

      You would probably waste at least a collective of 10hours over the 50 years waiting for that tickle and even at min wage that is like $400 ~

    • Jugganautx on 01/07/2019 - 17:21

      $1.10 where i am 😁

    • spaceflight on 01/07/2019 - 21:24

      When you fill-up your car at the petrol station, lift the black hose before and after pressing the trigger

      The mechanism to cut off the fuel is in the trigger nozzle.

      Lifting up the hose isn't going to do anything when there is something at the end that's blocking the petrol from coming out…

      • [Deactivated] on 01/07/2019 - 21:57
        +4

        Give it a go. I watch it coming out every time only after I lift it. I get odd looks whilst filling up my reasonably expensive car, every bit counts.

  • berger on 01/07/2019 - 13:30

    my favorite money saving tip: Anytime you purchase something small, pay cash and use notes only… When you get home, put the coins in a jar/tub, and it can ad up very quick..

    Morning tea, use a $5 note, Lunch use a $10/20 note, a quick stop at the supermarket, use a note. You may have $5-10 worth of coins in a day!

    • Nalar on 01/07/2019 - 19:44

      Same idea: ING (and many others) lets you round up to $1/$5/$10 on transactions.

    • spaceflight on 01/07/2019 - 21:25
      +6

      Or keep all your money in a high interest bank account.
      Use a no annual fee credit card to buy things and pay the card off every month.

      This way your money is earning interest not going backwards in a jar.

      • Nalar on 01/07/2019 - 23:40

        ING has 2.55% (with restrictions)

  • Dr Prepper on 01/07/2019 - 13:46
    +1

    Get a quadruple vasectomy

    • funnysht on 01/07/2019 - 16:56
      +1

      just get a one…it's cheaper

      • Dr Prepper on 02/07/2019 - 12:54

        the other 3 are for insurance or if you have a very high sperm count.

    • bohn on 03/07/2019 - 08:00

      Just enjoy giving anal intercourse instead.

      • ozbjunkie on 04/07/2019 - 15:45

        A valid point, but the missus wasn't interested.

  • diddy50 on 01/07/2019 - 13:46
    +1

    OzBargain, when really we are OzSpending

  • peterw1 on 01/07/2019 - 14:06
    +2

    since delayed gratification is a/w success ie wealth, try to time expensive purchases ie>$300 worth with OS travel to claim the TRS discount. This is great for things like laptops. If buying a new car, try to buy a kia with 7 year warranty or any toyota product which usually has cheaper fixed price servicing and long term cheap parts

  • Shwayne on 01/07/2019 - 14:38

    Just to be clear, you're not saving money, you're maximising your spend.

    My best tip for saving money is to, save money, there's no two ways about it.

  • Trying2SaveABuck on 01/07/2019 - 14:50
    +7

    Stay the hell away from the big 4 banks if you want a home loan and only buy a home if you have a 20% deposit to avoid LMI - i recommend Ubank if you are happy to have a non-bank or HSBC if you need a branch based bank

    My personal savers tip to everyone is this -

    If you ever eat at a food court in a shopping center buy your drink from Coles or Woolworths if they dont have a combo deal - Ie Subway buy $5 6 inch if you add water they can charge an extra $3-4 go to coles buy a water for $0.85

    The same would be said if you are going to the cinema DONT BUY ANYTHING from the candy bar - unless you are on a date trying not to look cheap because everything in the candy bar is a rip off - always you optus perks/Telstra thanks/RACV members to buy tickets if you can (for Hoyts/Village)

    If you take a girl on a first date stick to a coffee to feel out if she is really interested it wont cost you more then $10 for 2 coffees and you can bail easy if she isnt interested.

    Always buy petrol if it is under $1.30 p/liter even if you dont really need it

    Stock pile non-perishables like Toilet paper, Nappies, Cleaning products, Alcohol. Tuna etc when they are on sale

    Dont buy video games when they are released if you can wait video games drop in value drastically after 1-3 months - also try buy physical copies of games because they can be resold opposed to digital downloads

    Dont upgrade your phone every year - i know ppl who upgrade every 12-24 months and are contently on very expensive contracts to get a few extra/improved features

    Dont buy things you cant afford - I buy everything on credit but i pay it over straight away thus i get the benefits of the points but never incur interest it does take 2 mins at the end of every week to pay it off but it has saved me about 200~ in the flybuys points ive accumulated

    Stay away from car leasing you can save money on them but i'd say 9/10 people who do it expect to save money and up spending more then they would if they brought the car out right

    The last one is dont travel if you cant afford it - we have become a nation of 'i need a holiday every year' i know people who are struggling to pay their mortgage but they still manage to fly overseas every year. I love travelling but it is a luxury activity that has become a need not a want in Australian culture - i contently tell people who say they have no money or cant afford a home that complain well if you keep travelling what do you expect? - i know ppl that have left good jobs to go on the big holiday to come back and have no work instead of build up annual leave/LSL/ADOs etc

    • funnysht on 01/07/2019 - 16:55

      i think it's okay to spend like $600 on a near destination like vanatu or bali, instead of europe etc

      • foolsgold on 03/07/2019 - 15:06

        yes thats just getting there, the fixed costs are usually always the same,
        ie. accomodation $100-150 a night, taxi/parking at airport there and back, paying for ubers/taxis when overseas, buying small gifts, paying for an experience, travel insurance, travel cards, roaming fees, etc.

        what have you really 'saved'

      • Trying2SaveABuck on 05/07/2019 - 09:32

        It isnt the flights that are expensive if anything if you look hard enough and book early enough you can fly almost anywhere in the world for less then $1300 return with food and baggage…

        You lose most of your money on the exchange rate, accommodation, food, transport etc - even if you backpack your way though Europe for 6-months you are also losing in opportunity cost by simply not working and earning an income.

        This does not get enough criticised because we see travel as a 'need and not a want' - however in a most countries in the world travelling by plane 10+ to a foreign country is seen as a activity only for wealthy people and regular people make do with short trips or places they can drive too.

        Once again i love travel but our culture around it needs to be re-evaluated

        • funnysht on 05/07/2019 - 09:53

          i get it, but i usually allow 50:50, 50% for tickets, 50% for everything else,

    • afah0447 on 01/07/2019 - 19:30
      +4

      Isn't Ubank 100 per cent owned by NAB???

  • inherentchoice on 01/07/2019 - 15:48
    1. Buy things used. Especially household items, electronics and cars. Only exception might be to buy a new phone from China via OzB.
    2. Don't play the latest video games. Plenty of old old PC games for free that don't need expensive hardware or fast internet.
    3. Don't go to the cinemas, but also don't watch paid movies or TV series and don't get NetFlix or similar. It's pretty much all boring fiction anyway.
    4. Don't pay for music streaming services like Spotify.
    5. Instead of 3&4, watch YouTube content instead. Or maybe get Curiousity Stream instead of Netflix.
    6. Avoid buying or replacing things until the old one is worn out. Some things can be repaired/cleaned/refurbished easily.
    7. Don't go on holidays, it's just another part of the same planet. Cash in your leave if your job allows it.
    8. Use a minimum amount of soap, shampoo, laundry powder etc. Use half or less than half of what's recommended. Water is what cleans, the other things just help a bit. White Vinegar is an excellent non-toxic cleaner, I mix it with water in a spray bottle.
  • whirlpool_guy on 01/07/2019 - 16:04
    +2

    Buy Eneloops instead of alkaline batteries

    • spaceflight on 01/07/2019 - 21:28
      +1

      Buy LADDA instead of Eneloops

      • Hunter14 on 02/07/2019 - 16:41
        +1

        They've raised the prices of LADDA :(

        The golden days are over.

  • funnysht on 01/07/2019 - 16:43
    +4

    1) Not so ethical but sign up for a uni ccourse get the student card (if you decide to drop the course you can still use the card ;) )

    2) Check groupon whenever you go out like to movies, ten pin, (note may look cheap if it's on a date)

    3) bring your own food to picinics, cinemas

    4) Every 12months look around your house for stuff you don't use and sell it on gumtree

    5) Shop at ALDI

    6) Learn to do your own taxes if you don't claim much/don't have an investment property

    7) Maintain the equipment like lawm mower etc

    8) Wear extra clothes, etc and don't use the heater if not needed

    9) some beaches like cogee have very nice publich baths- can use these if you're really skimpy

    10) Check ozbargains daily

  • funnysht on 01/07/2019 - 16:48
    +1

    Buy things like furniture, beds, bicycles, 2nd hand on gumtree- save a ton

    Also if you're thinking of getting into a hobby- photography, cycling, etc buy it on gumtree 2nd hand, and if you really enjoy it after 6 months buy a expensive one…also from gumtree.

    also when you pay for things- pay in cash—you're less likely to part from $600 holding the cash rather than paying by credit card etc.

  • Mosher on 01/07/2019 - 17:08
    +7

    Only pick up ugly hookers

    They charge less (So I have heard)

    • funnysht on 01/07/2019 - 19:14

      get married/get a gf..cheaper…

      • Nalar on 01/07/2019 - 19:51
        +9

        incorrect!

        • funnysht on 01/07/2019 - 19:52
          +2

          sorry she's left now…yeah i agree wholeheartedly.

          • Nalar on 01/07/2019 - 19:56
            +1

            @funnysht: If you are ever under duress while posting please use the Ozbargain safe word

            • funnysht on 01/07/2019 - 19:58
              +1

              @Nalar: what is it? energizer?

              • Nalar on 01/07/2019 - 23:41

                @funnysht: YES! Nobody will ever actually WANT non Enloop batteries right?

  • trapper on 01/07/2019 - 18:02
    +3

    Best tip is don't get married or have kids haha

    • funnysht on 01/07/2019 - 18:53

      get married but don't have kids

  • alphaai on 01/07/2019 - 18:16
    +6

    Reduce your food consumption.

    You'll live longer if you eat less and if you do it for long enough, youll go into autophagy and rebuild stem cells when you re-eat (must have reach autophagy). Too me that is much more worth it than my favourite meal.

    Sell your fridge and freezer lol.

    You don't really need it. Uses power, runs 24/7 and why use it when Coles/Aldi/Woolies refrigerate and freeze for you. Let them incur your costs. That way if it's not in your house, you only eat as soon as you've done your shopping
    Which is way less than if ur fridge is within walking distance. You'll age slower and save more money.

    Breakfast morning tea, lunch , afternoon tea and dinner! Lol. Scrap that crap.

    As long as it healthy, doesn't matter what you eat when because you eat for survival, not for themes. If I want to have a banana for dinner, I will.

    Quit watching those sponsored cooking shows eg. Coles

    Yeah you know they taste good but it comes at a cost. Coles just want your money.

    Who's gives a shit what fancy food people eat.
    Just eat to make it to the next day.

    Use solar hot water
    For your bath, or maybe dishes. That is free.

    Companies are always trying to tell you how you can save money with them.

    You'll save more if U ignore them and don't buy from them.
    If it's an ad, run. If it's recurring billing, try to run.

    You don't need Spotify.

    Download the songs and put it on a random shuffle. Why pay per month when you might only look for tunes every now and then?

    Go byo or prepaid. Buy outright.

    That way you'll almost always get more gigs for your $$.

    Put battery motion sensor lights in every room.

    Never need to touch a goddamm light switch ever. More money to save. How dare they rip us off with electricity.

    Walk or ride a bike. How dare they rip us off with petrol prices.

    • spaceflight on 01/07/2019 - 21:32
      +4

      Sell your fridge and freezer lol.
      You don't really need it. Uses power, runs 24/7 and why use it when Coles/Aldi/Woolies refrigerate and freeze for you. Let them incur your costs.

      Driving to the supermarket each day will cost more then running a fridge.

      Put battery motion sensor lights in every room.

      Why not use motion sensing light globes?
      No batteries and electricity is cheaper than batteries.

      • godofpizza on 03/07/2019 - 12:58

        don't drink milk?

  • funnysht on 01/07/2019 - 18:54
    +1

    also car pool with a mate if you can

  • Plug on 01/07/2019 - 19:26
    +6

    Best saving tip is to buy what you need instead of crap you just want.

  • Worf on 01/07/2019 - 19:55
    +4

    Minimalism

    • cloudy on 04/07/2019 - 22:12
      +1

      not for the average ozbargainer.

  • dracoknight92 on 01/07/2019 - 20:24
    -7

    Don't claim the tax free threshold, you will be guaranteed a decent sum end of every financial year. ~37% of my fortnightly pay goes to tax due to combination of HECS and not claiming the tax free threshold, I always get at least 7k tax return.

    • Trying2SaveABuck on 01/07/2019 - 20:28
      +5

      Fire your accountant

      • dracoknight92 on 02/07/2019 - 08:08
        -1

        I do my own tax, but why though? Is the return too low?

        • knk on 02/07/2019 - 11:38
          +4

          because by not claiming it the ATO is holding money for you that should be yours. A refund isn't some magical thing.

          Financially, you'd actually be better off having a tax debt at the end of the year because it means you've had income you would otherwise have not been able to invest / earn interest on or whatever.

          • brad1-8tsi on 03/07/2019 - 12:14

            @knk: I don't claim the tax free threshold because my other investments offset the TFT. I realise this shouldn't be an issue but in the past my (then) spouse was very tardy with her tax which would make me late with mine and then I would owe the ATO with interest on top and sometimes a fine.

            If I don't claim the TFT, claim every deduction possible and get my tax in on time I still only get ~$500 back which I might have earnt $25 on if invested

            • knk on 03/07/2019 - 12:26

              @brad1-8tsi: Regardless though, since you're not required to report till the end of the year with most personal investments you'd be better off claiming the TFT and then pocketing the interest on the money + paying the ATO back later (if it came to it).

              Better in your pocket than theirs. There's really no reason to not claim it.

              • brad1-8tsi on 03/07/2019 - 12:36
                -1

                @knk: I fully understand what you are saying but it's what worked for me. Sometimes my tax was 5 years late due to others that CBF. If the ATO owed me (even as late as 2016) they wouldn't fine me.
                Those days have gone so I might change things now.

    • spaceflight on 01/07/2019 - 21:33
      +4

      Or you could claim the tax free threshold and earn interest on the extra money.

  • tukangbakso on 02/07/2019 - 08:24
    +1

    From what I learnt the hard way is that you don't need a extravagant wedding reception and celebration. Just have a small celebration with your close family and friends, and save up all the money for a decent honeymoon.

    Also find a partner that is okay with this, as many people "want to be a prince/princess for their special day".

  • lostn on 02/07/2019 - 08:41
    +1

    I think no community better than the Ozbargainers in this!

    On the contrary, I think we are terrible at this.

    Track the desired flight price with Google Flights. Receive the alert and buy when the price drop.

    Another tip: Price discrimination happens with flights. Use a VPN and see the price in the destination country, and also the price for a US citizen. Some other countries have cheaper flights too. There's no exact formula but if you're coming from the source country, it's usually more expensive.

    Set up auto transfers to a high interest savings account

    This would be as safe as investments go. But do know that interest rates in even high interest savings accounts are only around 2% right now, which is less than inflation rate. And then your interest earned is taxable so you don't even get all of that. So you are not actually saving any money. Your money is shrinking by leaving it in the bank.

    Before GFC, you got 8% or more on a term deposit. Now it's not even worth doing.

    If you have a home loan, put the money into your offset account where it saves you money, the rate is higher, and it's not taxed.

    • Buy less stuff you don't need. And if you think you'll need it later, don't buy it now because it's discounted. It will likely be discounted even more later by the time you need it. Buy it when you need it, or close to it.
    • Use a credit card with shoppers protection (like 28D). This will help alleviate the problems of price drops after you bought the item.
  • brad1-8tsi on 02/07/2019 - 10:48
    +2
    1. Buy wine by the dozen
    2. Buy beer by the crate
    3. Learn to cook dishes that give pleasure in both the cooking and the eating
    4. Grow vegetables or herbs in your courtyard / balcony / garden.
    5. Plan the week's meals. Only buy enough perishables to cover the meals.
    6. Take leftovers for lunch.
    7. Learn to make coffee.
    8. Pay attention to off-peak times and bonus days on your public transport system
    9. Use and set up an alert with electricity comparison sites like wattever.com.au
    10. Salary sacrifice into superannuation even if retirement is 50 years away.
    11. Don't claim the tax free threshold. Invest the tax return into a growth asset.
    12. If you think you need the latest toy then wait 3 months and see if you still need it
    13. Shop around or ask your friends (seems obvious but a lot of people don't).
    14. Take the Return and Earn bottles back to the depot for a deposit refund.
    15. LED lights
    16. Turn off the lights (my neighbours leave their lights on 24/7)
    17. Insulation
    18. Pay attention to Time of Use electricity times and prices
    19. cancel the unused gym / Stan / pool / phone / whatever subscription
    20. Solar PV
    21. Learn some simple DIY skills
    22. Stop smoking
    • idonotknowwhy on 02/07/2019 - 12:15

      Buy wine by the dozen
      Buy beer by the crate
      Learn to make coffee.

      Stop smoking

      Sounds like your personal preference. You like some addictive substances, but not others lol

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