Saving money is something many people put on their New Year’s resolutions list, and something many people vow to do when Christmas is over. But there’s no better time than now to start putting some savings and budgeting measure in place.
Many savings hacks and budgeting advice comes down to a simple method of analysing where your money goes and adjusting it in order to reach your goal. A recent survey of more than 1000 people by Dodo has found that 60 per cent of Australians (equivalent) spend an average of $240 each year on stuff we don’t need or use. Three out of five people surveyed said their money was mostly wasted on groceries they bought but never used, followed by 37 per cent of respondents who reported spending money frivolously on clothes, shoes and accessories.
Another report by ASIC’s Money Smart claims that the average Australians save $427 a month, and the average savings target is $11,234.
So we’ve pulled together a list of the best savings tips for 2018 so you can find a saving or budgeting method that suits your lifestyle, and set you on your way to achieving your financial goals.
1. If you need to take control of your financial situation
We ask a professional financial advisor how to take control of any financial situation in three simple steps, read the guide HERE.
2. If you need $1000 fast
This money saving hack involves filling up a soda bottle with $2 coins to achieve a $1000 savings goal. It’s quick, easy and painless. See the instructions HERE.
3. If you’re a renter
We’ve created a list of six different ways you can save money if you currently rent your home. These tips are easy and practical lifestyle changes that anyone can make, and you’re guaranteed to find at least one helpful tidbit of wisdom. Read the full story HERE.
4. If you overspent at Christmas
These money saving tips are aimed directly at those shopaholics who got excited over Christmas and splashed out on gifts, meals and the Christmas spirit in general. Practical financial lifestyle advice plus a few month-long money-saving challenges. Read the full story HERE.
5. If you need help coping with unexpected expenses
This is advice for those of us who have found ourselves with unwanted vet bills, medical expenses, car repair invoices and other big-ticket life essentials that are generally pricey. You’ll find advice on credit cards, loans and emergency funds HERE.
6. If you need to make your savings work harder
If you’re already pretty good at saving money and managing your finances, then this story is about how your savings can work harder for you, and make you money with the extra work. Read the expert advice from an Aussie financial planner HERE.
7. If you need some finance apps for money management
For those tech-savvy people who are looking for a pocket-sized financial planner then these finance apps are what you need. Read about the best apps for investing, budgeting and saving HERE.
8. If you need to reduce expenses without sacrificing your lifestyle
There’s nothing worse than feeling the unexpectedly painful bite of FOMO (The Fear Of Missing Out) because you’re desperately trying to save your pennies. Never fear, we have a list of five tips on reducing expenses, not your lifestyle, from a professional financial advisor right HERE.
9. If you need to change your relationship with money
Change the way you think and feel about your finance with these six easy tips on managing your money mindset. Read it HERE.
10. If you need to reset your spending habits
Although you may not need help saving money or managing it, you may find yourself spending money on frivolous things you don’t really need. This story is all about how you can turn everything around with this one-month challenge. Read the rules HERE.
All the advice in this story is general in nature and has not taken into account your objectives, financial situation or needs. Because of this, before acting on any advice, you should consult a financial planner to consider how appropriate the advice is to your objectives, financial situation and needs.