5 Genius Money Hacks That Really Work

13 Aug 5 Genius Money Hacks That Really Work

Saving money is more than clipping coupons and opening a savings account.

We need all the money that we can save. Whether it’s saving up for that first home or first car, there are plenty of ways to make the most out of your money.

Here are five genius hacks that can help you to squeeze a couple more dollars out of your earnings. You’d be surprised how practical these strategies are and you are going to wonder why you haven’t been doing them all along.

Buy in bulk when grocery shopping.

Household items that you use regularly like dishwashing detergent, toothbrushes, soap, and toilet paper are significantly cheaper when bought in jumbo sizes. If an item is on sale, stock up with enough to keep you going for a few months.

Cut forgotten subscriptions.

When was the last time you review all your recurring subscriptions? Review your transactions and see if you’re still using that subscription. One the easiest (and worst) ways to waste money is to lose track of where your money is going.

Pro tip: Download the app Truebill, which will automatically pull together every bill that you are paying for by analysing your bank account and credit cards, so you can easily keep track of things in one place.

Declutter and sell.

Clear out the items in your home and in your wardrobe that you haven’t been using for a while now. Sell these items on Facebook marketplace to make instant cash!

Automate your savings.

Automatically schedule money transfer in your savings account. It doesn’t matter how much, just set aside a certain amount monthly. It will add up, and before you know it, you won’t even miss the funds.

Switch to weekly or fortnightly home loan repayments.

Pay your home loan weekly or fortnightly instead of monthly. The more frequently you pay, the more you will save. This applies even if you are not actually paying any more than you used to. Speak to a finance broker about other ways to make your home loan more competitive.

BONUS MONEY HACK:

Put aside a large glass jar labelled ‘spare change’ and dump any loose coins into it at the end of each day. You won’t notice the money missing from your wallet but you will feel amazed at how much it adds up within a year.

Your turn

There you have it! 5 genius but practical money hacks so you can start saving more money. I hope you found some tips you haven’t thought of, and are inspired to take control of your finances.

Disclaimer:

Credit Representative Number 486927 is authorised under Australian Credit Licence 389328.

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