15 Simple And Easy Ways To Save Money

by | Sep 4, 2018

Save your salary with these 15 tips!

High school sweethearts Matthew and Bianca (and Positive Real Estate clients) don’t earn massive loads of money – in fact, they earn less than $40,000 p.a. each – but they own a property portfolio worth millions.

How?

They manage their money wisely, taking the long view on their financial future. Rather than focus on what they “want” in the here and now, they set goals based on what they want to achieve in the future.

Planning and goal setting combined with good money management is a powerful force.

No matter what your income, you can achieve a good result when you understand the concept of sacrifice in order to obtain a future return.

The following 15 tips can help you save money – both for things you need now and for your financial future. They’re not complicated, however you do need discipline to put them to work for you:

15 Money Saving Tips

  1. Avoid impulse buying (e.g. Maccas Drive through or online shopping)
  2. Cook more meals at home, limiting eating out for special occasions – once per week maximum –if you have to!
  3. Pack your lunches from home ($10 per day is $2,600 each year)
  4. Set a daily spending limit. When you underspend, put the difference in an interest bearing account to go to work for you
  5. Purchase sale items you normally buy; don’t buy it just because its on sale!
  6. Buy clothing seasonally (e.g. buy winter items during spring sales)
  7. Have money set aside by your employer before you receive your pay
  8. Eliminate pay services for something you can do yourself – do you really need a cleaner?
  9. If you have any unhealthy habits (e.g. smoking and/or drinking) reduce or eliminate them to save not only money, but improve your health
  10. Sell your stuff online instead of throwing it away – try eBay or Gumtree
  11. Don’t buy season tickets
  12. Cut your extraneous utilities and/or those things you can live without either permanently or for a time (e.g. pay tv, home phone)
  13. Research and comparison shop on big ticket items (e.g. washer/dryer, TV, etc)
  14. Keep receipts for items you buy at work (that aren’t reimbursed) for use at tax time (e.g. home office expenses, work travel in your personal vehicle)
  15. Don’t incur late fees – always pay your bills on time!

Remember that it’s the little things that add up.

Coffee is a good example. If you bought two coffees per day at $3.50 each you would spend $2,500+ per year!

That’s a testimony for brewing your own if I ever saw it!

When you look at your daily habits in this manner it’s easy to see how quickly money can slip through your fingers!

Take a look at where money might be leaking by keeping a detailed list of your spending for at least two weeks – even longer is better.

If you’ve never done this before you’ll be amazed by what you discover.

Click here to like us on Facebook and see more updates like this.

Hey there, do you enjoy the Positive Real Estate Blog? If you did, why don’t you book into a Property Information Night in your area and get more information from our team. You can do so here.

Also, if you can not wait, click here to access the Property Mini Course and signup for our email newsletter. This FREE 2 hours video series gives you some of the top tips from our team that you can use right now. Thanks.

Do You Have Wealth Creation Habits?

Studies of habits and their close cousin, willpower, have been done, giving us insight into how people form - and keep - habits. Did you realise that science shows our habits are “etched” into our brains? Once a particular action or set of actions have become a habit,...

5 Property Investing Myths that Kill Investors’ Futures

If you’ve been investing in houses you’re probably listening to advice you’ve come across and believe to be true. But is it? Just because something is considered “common wisdom” that doesn’t necessarily mean that it’s entirely true. It may be only partly true or it...

Ways to Protect Your Assets

Beginning property investors are often so absorbed with finding an investment property that will deliver good capital growth and/or positive cash flow that they forget the very important matter of protecting those assets. Protecting your wealth is no less important...

2 Big Fears Property Investors Face

Buying investment property to grow your wealth is a well proven strategy. So why then is it so scary for many would-be investors? A number of reasons, but in my opinion, the two biggest reasons people are afraid to invest in property are: The large amount of money...

How To Negotiate “Like a Boss”

You can find a great investment property, in a growth location, and still miss out on positive cash flow because you weren’t able to negotiate a price and terms that worked for you. If you’re not comfortable negotiating for what you want or if you’d simply like to...

5 Quick Tips For a Stress Free Retirement Plan

The superannuation balance of Australians is dismal. Men have on average $183,000 in their accounts whereas women have barely more than half that - $93,000. In fact, only 10% of Australians have in excess of $100,000 in their super!  Obviously then, lots of...

Is a Structural Renovation Right for Your Investment Property?

At Positive Real Estate, we provide “time proven” property investing information and advice. We work directly with property investors throughout Australia, helping them reach their wealth creation goals. Recently, Bupa Landlord Insurance​ showcased us in a post on the...

3 Simple Retirement Questions People Often Fail To Consider

You didn’t buy your first investment property without a plan, so why should your retirement plans be any different? Retirement planning - in terms of financial concerns - should definitely be a part of building your investment property portfolio, but it takes much...