The Shakespeare Financial Services team have devised a list of practical ideas to help save money during the cost of living crisis.
- Coles and Woolworths both offer membership programs that offer discounts and other perks. As an example for Woolworths, it costs $70 per year for membership, but you get 10% off for one shop a month, free bags and delivery, and double the reward points! Important note: don’t grocery shop when you are hungry!
- Investigate Cashback and Shopback apps – as you can get money back for online purchases.
- Download the Frugl app and compare weekly purchases across Coles, Woolworths, IGA and ALDI to see what’s on special.
- Buy seasonal produce that is readily available (and cheaper) at the time. For example, switch from asparagus to broccoli/ broccolini if the price of asparagus has doubled – and vice versa later in the year. You still get your greens, but for half the price!
- Ring your power/ electricity provider and see if you could benefit from a plan where electricity usage is cheaper during school hours (i.e. when usage demands on the grid are less) and see if you can plan your washing machine/ dishwasher/ dryer/ pool pump (etc.) around these times.
- Ring your mobile phone/ gas/ internet (etc.) providers, and negotiate better deals.
- Reduce the amount of eating out, or convert dinner catch-ups to breakfast catch-ups (and save on the alcohol costs). Utilise the entertainment app which is a $60 annual spend, and gives discounts to a range of restaurants (eg. buy one meal, get one free, 25% off the bill etc.) as well as other retailers.
- Ring your bank and request a lower interest rate (and threaten to leave or look elsewhere), or engage Shakespeare Lending and Mortgage Solutions for a complimentary loan review.
- Convert your daily coffee from the café instead to a weekly cafe coffee (Sunday treat!) and reacquaint yourself with Moccona/ Nescafe.
- Reduce your weekly footy multi or weekly Ascot quaddie from a $50 outlay to a $25 outlay (let’s face it, you are a bad punter!)
- Instead of random/sporadic trips to the corner liquor store, buy in bulk and use the specials/discounts for larger purchases (eg. buying a carton instead of a six-pack, 6 bottles of wine instead of one here and there). Let’s face it, there are some things you can’t cut back on!
- Aim to fill your car up with fuel on a Tuesday, which is usually the bottom of the fuel price cycle. Also, utilise the 4c off fuel vouchers, and also look at $100 fuel cards available through Shopback or Cashback apps, which often provide a further 4-5% discount.
- If you have been working hard and going the extra mile at work, start practising how to ask for a pay rise in your next salary review.
- Manage your streaming subscriptions – if you’re not using Netflix/ Stan/ Disney/ Prime (etc.) make sure you’re not paying for it, or turn it off for months you don’t plan on using it. As an example, Optus members have access to “Optus Subhub” where you can combine multiple streaming services and save.
- Subscribe to the family streaming services – Spotify is cheaper for 2x people under a family fee subscription as opposed to 2x individual subscriptions.
- Check out any rewards programs you might be part of. For example, RAC/ Kleenheat give members perks across a range of restaurants/shops/events/fuel etc.
- Don’t just pay your car insurance and home/contents insurance renewal. Perform 2-3 comparison quotes, and then ring your current provider and bargain with them if one is better.
- And don’t forget the non-brainers, like taking your lunch to work, catching public transport, and take note of when the annual retail sales are on, but only for things that you really need (i.e. don’t end up with three winter coats in the wardrobe).
If you would like a financial health check or help to manage your finances better, please reach out to the team at Shakespeare Financial Group.
We offer assistance with the full spectrum of Accounting and Tax, Financial Services, Superannuation, and Leasing and Mortgage Solutions.
Recent Comments