6 quick money saving tips you can do in 10 minutes or less

Everyone can do with a little more money in their pocket, and getting better at saving is one of the best ways to do it. Tightening the purse strings so you can save up a nest egg to purchase something as small as a new pair of jeans or as big as a house deposit is always worth doing. But sometimes it feels like too much hassle.
 
The good news is that saving money doesn’t have to be hard. All you have to do is follow a few easy tips and before long you’ll have a stash of cash ready to spend on something special.
 
So how do you do it? Here are some of our favourite quick and easy ways to save money:
 

Find a jar to collect spare change

 
Remember that piggy bank you had as a child? It was actually a super smart way to save money and is an effective method to build funds at any age. All you have to do is find a large jar and make a habit of dropping in spare change whenever it comes your way. Once the jar is full you can deposit at your bank, directly into a savings account or use it to buy yourself a treat.
 
Or take it up a notch and take part in the $5 challenge. Choose another jar and put into it every $5 note that enters your wallet. Don’t count the bills, just keep on adding them in and at the end of the year you’ll be amazed at how much it adds up.
 

Set up a high interest savings account online

 
This one is a no brainer, as there’s no down-side to having your own hard-earned money make more money for you. Most banks and financial institutions have great high interest accounts on offer, so shop around and find one that works for you.
 
Many accounts also offer other benefits such as free overseas transactions, so bear this in mind when considering the options.
 
Then just keep adding to the account (this is a good place to deposit your jar money from the previous tip!) and watch the numbers grow slowly and steadily over time.
 

Make a grocery list

 
Never go to the supermarket without a list, as this is a recipe for impulse buying and overspending. Do a quick inventory of your fridge and pantry before doing a shop and work out exactly what you have and what you need. This is also a clever way to make sure you use things up before their expiry date, avoiding unnecessary wastage.
 
Once you have a clear list of what you need for the week, do one good shop to collect everything and avoid multiple grocery trips (which can add to your expenses thanks to extra petrol and parking costs, not to mention time).

Switch gas, insurance or broadband provider

Reviewing your utility bills and asking your provider for a better deal can be a quick and easy way to reduce your costs. Your customer loyalty is worth a lot, and many times all you have to do is ask the question to get a better deal.
 
And if your current provider won’t budge – then maybe it’s time to consider shopping around for a better deal? For monthly bills, even small savings can add up quickly, so it’s worth getting the best deal possible.
 

Set up bills for early or automatic payment

 
Automating payments for bills takes just a few minutes and it’s another great way to save money. Often bills that are paid early come with discounts, which really mount up – and forgetting to pay bills can lead to unnecessary penalties. Get on top of it early and then you don’t have to worry about it, and you’ll have more money left in your account as a reward.
 

Pack your lunch tomorrow

 
One of the big lessons a lot of people learned from working from home during lockdowns is how much money you can save when you don’t buy food and drinks out every day. A fancy coffee here, a sandwich there, a bottle of water on the run. It all adds up, and fast.
 
Make buying food and drinks when you’re at work a treat rather than a habit. Cook a bit of extra food at dinner and take the leftovers to work for a delicious lunch the next day. Get a reusable water bottle (which is also better for the environment) and refill it whenever you feel thirsty. Learn how to make a good cup of coffee yourself or take your favourite tea bags to work with you for a 3pm treat.
 
It doesn’t take much effort and the payoff can be HUGE. Plus you’ll find that the times you do treat yourself to a bought lunch or barista coffee will be all the more special.

 

 
The information in this blog post is general in nature and does not constitute personal financial or professional advice. It is not intended to address the circumstances of any particular individual. We do not guarantee the accuracy and completeness of the information and you should not rely on it. Before making any decisions, it is important for you to consider your personal situation, make independent enquiries and seek appropriate tax, legal and other professional advice