Pinch My Penny

It seems like all we’ve heard lately is that interest rates are going up, rents are rising and groceries and fuel are increasing. Unfortunately our wages aren’t increasing at the same rate which means many household are “pinching pennies”.

To beat rising prices we need to be smart and find ways to stretch our dollar further - it just takes a bit of research or changing of shopping habits.

These are a few ways I manage to pinch-my-pennies, and the upside is that I get a real thrill out of saving money. My tips aren’t rocket science, but if you are consistent, they really work and you could save thousands of dollars per year.

Pinch-My-Penny Tips;

• Wait For Sales. Write a list of things you need and wait till they come on sale. It’s a real thrill to buy and item for 20% - 70% less than the retail price and even more exciting telling all your friends how much you saved. Its absolutely worth being patient.

• Use Pre-Shop Tools. Lasoo’s pre-shop tool lists current specials around Australia through a catalogue directory so you can rope in the savings. By registering free with Lasoo you can activate an “Alert” system to be notified by email when products are on special. For instance, be alerted when nappies are on sale from Big W, Target and other stores – then swoop in and stock up. www.lasoo.com.au

• Join a rewards program like FlyBuys and every time you spend money at participating stores - zap your card and collect points. Points redeemed can be used for flights, accommodation, food, clothing, presents and lots more. www.flybuys.com.au

• Do you admire your friend’s clothes? Get all your friends together for a “swap clothes” party. Its cheap entertainment and you end up with new clothes which cost nothing.

• Shop weekly, stick to a budgeted amount to spend on groceries and shop with a list. If you want more bang for your bucks buy generic or home brand items at knock down prices - will save hundreds of dollars per year. The quality is usually just as good as the name brand - so why pay more.

• Re-access all accounts by going through all your bank accounts and credit cards and ditch those you don’t use. Why pay unnecessary fees if you get nothing for it – it’s a waste of money. Additionally, search for cheaper loans, energy, insurance and deals on phone plans.

• Limit takeaways. This goes without saying but prepare meals at home as often as possible. If you work bring coffee and lunch - you’ll save thousands. Even buying coffee every day adds up to about $1,000 per year.

These penny pinching tips are just a few of the many simple opportunities to save a lot of money – and have fun doing it too!.

For more tips and tricks – check out my website at www.savingsmart.com.au

Happy Saving,
Jennifer Steenland – Founder of Savings Mart