Tips & Tricks
- Live within your means by not using your credit card, and use cash instead. Begin with one or two items - start with spending money by allocating an amount each week and withdraw it from the ATM. When it's gone, that's it – until next week.
- Using only one bank account will save you money on fees. Remember to shop around for a bank that provides all the facilities you need i.e. internet banking, ATM, eftpos etc. AND offers low monthly fees.
- Set a budget – it's easy and you won't feel deprived if you allow yourself some money to spend as you please. Remember to allocate a savings amount also, and you'll achieve balance.
- Saving for that overseas trip – or house deposit? Then open an ING (or similar) maximiser internet banking account, and earn good interest with NO fees. Link it to your regular bank account for easy access and arrange weekly/monthly transfers.
- Avoid expensive gym memberships. Shop around and buy your own equipment – all you need are two or three items. Some treadmills fold down for easy storage, but if you don't have space in the house, consider the garage, shed or outdoor area.
- Food is the most expensive item next to our mortgage or rent. There are many ways to cut back on this expense. Try cooking twice as much (particularly on weekends) and freeze it in portions. That will save you money and time for quick weekday meals.
- Make your money work as hard as you do. Whatever your income, ensure that you are getting the maximum return. There are various methods of achieving this – the first step is to determine your financial situation, cut back on non-essentials and use that money as a stepping-stone to bigger and better things.
Get your copy of the 'Take Control of Your Finances' e-book and learn how to budget effectively and free up disposable income to begin an investment portfolio – see the online store for details.
