Do you think you know enough about how to save money in Australia without busting a gut? If not, it is a good idea to start learning and becoming the money guru you’ve always wanted to be. Do this so you get good at the art of saving and ‘good with money’ becomes a habit – like brushing your teeth. These tips will help you understand better how you can get yourself ahead of other people. Once you know more, you can help friends and family out too.
Save money in Australia in hard economic times with fast and simple hacks from blogger Penina Petersen
- Reduce extravagant spending
- Get good at budgeting
- Invest well and take calculated risks
- Educate yourself on how to save
- Commit to never paying full price
Tip #1 – Reduce spending on luxury items
If you are in a bind and you want to get kick your finances into gear down under then this is important. One of the most important things you need to do is stop spending as much as you can. Also, think about changing your lifestyle. If you are going to get by well in Australia living in an extravagant way, you won’t get you there.
Action it! Do this to save money in Australia
Lose a luxury item and find a free version
Cut one extravagant expense each day this week.
Tip #2 – Get good at budgeting
Learn how to save money in Australia better by starting and sticking to a budget every month. This ensures you have enough cash for emergencies, but you’ll also know how much you spent each month. This is not always an easy task. People have different spending habits, but you’ll get better at this over time. Practise makes perfect. The Australian dollar is low compared to the American right now. Learning how to save in Australia particularly will reduce your cost of living. This way you survive the hard times and current financial downturn.
Action it! Here’s a way to get ahead this year
Download a budgeting app and start using it today.
Tip #3 – Invest well if you want to stay in the green
The third tip for learning how to save money in Australia is to stay in and invest money well. For example, invest in real estate and build up equity in your home. This is a safe way to make your money work for you. Equity is the difference between what you paid for your home and it’s value now. This is the best way to enjoy savings you don’t even have to think about. Buy a house and live in it. That’s all you have to do. You can also check out Moneysmart (Australia’s government saving site) on more ways to save.
Action It! Take a step today towards a better financial future
Learn about home equity
Google an equity calculator and see how this works.
Tip #4 – Educate yourself
Education is a great investment because of its potential for you to grow. By getting the right education on a topic, you can make a steady income out of your knowledge. You’ll also improve future prospects. By getting yourself a higher education, you can earn more money in a shorter period of time. Also, consider teaching yourself new stuff using YouTube and the internet. There’s no excuse for not getting smarter in this super savvy world we live in.
Action It! Invest in yourself
Jump online and start investigating ways to save in Australia
Check out all the available courses available to you or subscribe to some FREE educational YouTube channels
Tip #5 – Never pay full price
Other ways of saving money in Australia include buying items at wholesale prices. You can even resell them online on Facebook Marketplace at a higher price. Think auctions, second-hand shops, and markets.
Action It: Watch a YouTUBE video today on something you’ve always wanted to learn but never did.
Discover more tips on how to save money in Australia right here in the Savingsroom