How to Save Money Part 3Our third installment of money saving tips is our more wacky and left field saving tips! They may sound weird however they can save valuable dollars and we suggest trying only if you have forgiving family and friends!

1. Buy second hand! There are a lot of items in the world that can be bought second hand at huge discounts. We think second hand and most think the local op-shop, but second hand can be extended to factory seconds and demonstration items. Before buying big, take the time to see if there are cheaper alternatives (if you can handle a scratch or small dent on your new fridge you could save hundreds!)

2. Keep your car tyres pumped up and keep your filters clean! Cars also cost a fortune – they seem to be a constant money pit! Money can be saved with cars quite easily. Tyre and filters! Tyres are expensive and tyres can also affect fuel consumption. Tyres that are 25% under-inflated use around 2% more fuel1 and wear your tyres over 30% quicker! 2% doesn’t sound like much, but 2% over a year adds up! Tyres also wear quicker at higher speeds. Did you know that driving at 120kph (which no one does as it is over all posted speed limits in the country) wears tyres twice as fast as driving at 80kms per hour!2 Keeping your filters (air and fuel) will also reduce consumption and reduce costs!

3. Eat breakfast! Again, money saving tips seem to be closely related to simple human activities that are falling by the wayside in our increasingly busy lives. Eating breakfast before you leave will save you money. A bowl of cornflakes or the old faithful vegemite on toast is much cheaper than McDonalds drive-thru or the oversized muffin at the local coffee shop. You won’t feel as hungry and the urge to impulse buy will reduce.

4. Cut your extra Foxtel Packages! This isn’t a friend winner, but an easy way to save some money. There is $75 per month difference between the most expensive Foxtel package and the cheapest. So ask yourself, do you really watch the $50 – $75 per month of those extra channels?

5. Always ask for a discount or fee waiver! I promise it isn’t only angry and difficult to deal with customers that get the discounts, but confident and friendly customers can get them too, it is a matter of simply asking! There is a lot of margin in a lot of products, banking, retail, services etc. A 5% discount here or there can save a lot in the long run – don’t ask, don’t get!

6. Bored? Stressed? Money is not the answer!!! So it’s Saturday afternoon, there is nothing to do, the sun is shining and you are wondering how to pass your time? Movies? Local Westfield? Café? No! Just because you are bored doesn’t mean that you need to spend money! Think of this.. It’s Sunday now, you went to Westfield, bought some clothes, saw a movie and got a coffee. You spent $100? Are you any less bored? Could you have filled the time just as satisfying as going for a walk, catching up with family, visiting museums etc. There is HEAPS to do that costs nothing or very little! Don’t burn your dollars just because there is nothing to do!

We will continue tips to save money. As you get better at saving money, don’t forget to keep updating your budget and once you have positive cash flow, that’s when the fun begins!


1http://www.ecodrive.org/en/what_is_ecodriving-/additional_tips_and_tricks/
2 http://www.bridgestone.com.au/tyres/passenger/care/pressure.aspx


About the Author – The Money Geek

MoneyGeek

The Money Geek is the head money blogger for MoneyGeek.com.au. With over 8 years experience in the finance industry, the Money Geek provides information over a range of topics to help families Australia-wide improve their financial literacy to become their own geeks and take control of their financial future!

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