Sentry Page Protection
Tip Store: Finances: Money Management
Choose a Hiding Spot for Your Cash
I read that burglars generally spend less than 15 minutes searching a house for valuables. With this in mind, avoiding common hiding places for your cash and valuables may be all you need to protect them.
Think about what you have a lot of in your house. Craft materials? Books? Frozen food?
Then think about how to make the cash look like it belongs, so that a burglar would have to search the whole lot to find it. For example:
- An envelope of paper money can be tucked inside a particular book (remember which one, but don't put it in an obvious place). Good for flat items only.
- I think Cath has instructions on the site on how to make a safe out of a book you don't like.
- Wrap valuables the same way you wrap food for the freezer, and label them as a food you don't eat. Bury them deep in a chest freezer if possible. Good for long-term storage.
- Put budget envelopes in a bag/box along with craft materials, ensuring they are hidden from view (again, remember which bag/box). Good for bulky items and frequent access.
- Hide wrapped valuables in the middle of a large jar of dry food, e.g., rice, in your pantry. Good for small items with irregular shapes.
Importantly, get creative and think about what in YOUR house is hard to search through.
Remember to make sure anyone else who uses whatever you hide valuables among knows what the package is. E.g., don't hide cash in a box of your kids' toys unless you can trust them to leave it there.
AVOID hiding valuables in your wardrobe, even in a locked safe unless it's fixed to the floor.
Optionally, leave a little cash or a few items that you don't mind losing in an obvious place so the burglar will take them and stop searching for anything else.
Contributed by Gabrielle Castle
Think about what you have a lot of in your house. Craft materials? Books? Frozen food?
Then think about how to make the cash look like it belongs, so that a burglar would have to search the whole lot to find it. For example:
- An envelope of paper money can be tucked inside a particular book (remember which one, but don't put it in an obvious place). Good for flat items only.
- I think Cath has instructions on the site on how to make a safe out of a book you don't like.
- Wrap valuables the same way you wrap food for the freezer, and label them as a food you don't eat. Bury them deep in a chest freezer if possible. Good for long-term storage.
- Put budget envelopes in a bag/box along with craft materials, ensuring they are hidden from view (again, remember which bag/box). Good for bulky items and frequent access.
- Hide wrapped valuables in the middle of a large jar of dry food, e.g., rice, in your pantry. Good for small items with irregular shapes.
Importantly, get creative and think about what in YOUR house is hard to search through.
Remember to make sure anyone else who uses whatever you hide valuables among knows what the package is. E.g., don't hide cash in a box of your kids' toys unless you can trust them to leave it there.
AVOID hiding valuables in your wardrobe, even in a locked safe unless it's fixed to the floor.
Optionally, leave a little cash or a few items that you don't mind losing in an obvious place so the burglar will take them and stop searching for anything else.
Contributed by Gabrielle Castle
Saving Money with Coles Credit Card
I started using a Coles Credit card after reading it as a tip from one of the Cheapskaters on this forum. I have everything set up on this credit card; all my direct debits, regular expenses, etc. I do make sure to repay every single cent at least two days before the due date.
What I realised I was doing wrong is that I was shopping from Coles as I thought I need to do so to accumulate points on Flybuys. But I quickly realised that I am wasting my money by shopping at Coles only to earn points, as Coles gives me 1 point anyway for every dollar spent on my credit card.
I started shopping at Aldi and saved an average of $20-30 per shop and still earn points on my Flybuys as I was paying with the Coles credit card at Aldi and of course other places as well. My points accumulate quickly and I then use those Flybuys points to get free items from Coles or just pay the difference in price like $5-10. Easy saving!
Contributed by Priyanka Mukherjee
What I realised I was doing wrong is that I was shopping from Coles as I thought I need to do so to accumulate points on Flybuys. But I quickly realised that I am wasting my money by shopping at Coles only to earn points, as Coles gives me 1 point anyway for every dollar spent on my credit card.
I started shopping at Aldi and saved an average of $20-30 per shop and still earn points on my Flybuys as I was paying with the Coles credit card at Aldi and of course other places as well. My points accumulate quickly and I then use those Flybuys points to get free items from Coles or just pay the difference in price like $5-10. Easy saving!
Contributed by Priyanka Mukherjee
Country Living Not Necessarily Expensive
Living in a country town doesn't always mean paying a small fortune for your fruit and vegetables, which are often older and of a lesser quality than what you would find in a big supermarket chain or green grocer.
We live in a small town of about 800 people, which is a 3 1/2 - 4 hour return trip to the nearest city of Hobart. We used to travel once or twice a month to do a big grocery shop at Woolworths or Coles, then buy things in between at our local corner store (we like to support the locals too). Then we found a brilliant little deli/grocer in Hobart, that you can email your order too and they will pack it up for you for nothing!
We then contacted a freight company who delivers to our area, costing us $4 for a large poly box (we usually get 1 box per week). Not only do we save time doing the shopping, we also save money (fruit/veg prices are half that of what we pay here plus the petrol savings), and we have access to a whole range of fruit and vegetables/deli items/bakery goods/health foods etc that are fresh, fresh, fresh and delivered straight to our front door!
Since we have started doing this there have been even more green grocers offering this service. As long as there is a freight company delivering to your area, you can do it too!
Contributed by Bianca
We live in a small town of about 800 people, which is a 3 1/2 - 4 hour return trip to the nearest city of Hobart. We used to travel once or twice a month to do a big grocery shop at Woolworths or Coles, then buy things in between at our local corner store (we like to support the locals too). Then we found a brilliant little deli/grocer in Hobart, that you can email your order too and they will pack it up for you for nothing!
We then contacted a freight company who delivers to our area, costing us $4 for a large poly box (we usually get 1 box per week). Not only do we save time doing the shopping, we also save money (fruit/veg prices are half that of what we pay here plus the petrol savings), and we have access to a whole range of fruit and vegetables/deli items/bakery goods/health foods etc that are fresh, fresh, fresh and delivered straight to our front door!
Since we have started doing this there have been even more green grocers offering this service. As long as there is a freight company delivering to your area, you can do it too!
Contributed by Bianca
Regular Tracking Provides Retirement Security
I have a tip that has been very useful to me in planning for my retirement and also in helping me to save money by understanding my spending habits. I think it would be a useful exercise for anyone to do. I started a few years ago by making up an Excel spreadsheet. I put in categories to cover costs covering the house, the car, my health, personal needs, entertainment, food and alcohol, gifts and holidays. Under each section I had sub categories e.g. under house: insurance, maintenance, furniture etc. Next I got myself a little spiral notebook and kept it in my kitchen. I wrote down EVERYTHING I spent in this little book and at the end of each month, transferred it all to my spreadsheet. I also checked my credit card statements and cheque book to make sure I hadn’t missed anything for the month. I also adjusted my spreadsheet as I went along to make sure I had all categories covered. After the first year, I had an excellent overview of my spending and was able to plan a bit better for the next year. I did this for five years and worked out what I needed to pay myself from an allocated pension in order to cover my lifestyle costs – and then I worked at putting as much as I could into my super until I had reached the amount I would need to pay myself each month. I’m happily retired now, but still keep up my spreadsheet so I can see if I am overspending in any area. If I don’t spend as much as I thought in any area, it goes into my holiday fund. My husband and I LOVE holidays so whenever I want to buy any non-essential item, I ask myself, “Do I NEED this, or do I just WANT it?" That question has paid for quite a few cruises.
Contributed by Barb
Contributed by Barb
Make Time to See Your Bank Manager
Approximate $ Savings: $200 fortnight
We made an appointment to see our bank manager regarding our finances. We have our home loan and an investment property. She did comparisons between a fixed and a variable rate for us, and also compared 12 months versus 2 years fixed. She assessed our situation (my partner is an adult apprentice), asked for our input regarding expenses etc. and helped us nut out a budget that we're both onboard for, not just one of us (we were struggling to agree!). For our situation, a two year fixed option for both properties suited our needs best, and she also set up our accounts for our investment property so that it's mostly self-sustaining, with little to no input from us (unless an emergency repair that is expensive crops up unexpectedly). This simple exercise has saved us $200 a fortnight off our home loans! And has FINALLY helped us agree on our budget! We're with one of the big four banks, and they all provide these services for their customers at no charge. Very, very worthwhile!
Contributed by Emily Doran
We made an appointment to see our bank manager regarding our finances. We have our home loan and an investment property. She did comparisons between a fixed and a variable rate for us, and also compared 12 months versus 2 years fixed. She assessed our situation (my partner is an adult apprentice), asked for our input regarding expenses etc. and helped us nut out a budget that we're both onboard for, not just one of us (we were struggling to agree!). For our situation, a two year fixed option for both properties suited our needs best, and she also set up our accounts for our investment property so that it's mostly self-sustaining, with little to no input from us (unless an emergency repair that is expensive crops up unexpectedly). This simple exercise has saved us $200 a fortnight off our home loans! And has FINALLY helped us agree on our budget! We're with one of the big four banks, and they all provide these services for their customers at no charge. Very, very worthwhile!
Contributed by Emily Doran
Retrieving Receipts for Returning Faulty Goods
I have just had some very positive experiences with Dick Smith shops at Richmond, Eastland and Nunawading, in Melbourne, and learned something really helpful to me and to others. I easily obtained a copy of the receipt which I needed to exchange an item which had developed a fault and was about 7 months old. I bought headphones in late December using a gift card, so asked at Richmond shop for the card to be checked to see what it recorded about the purchase. The helpful person there told me that it showed the shop and the total amount but not the details. She said that that shop would be able to bring up a copy of the receipt but she couldn't. I went to the Nunawading shop, was able to quickly and easily get the receipt, and the helpful person there exchanged the headphones instead of me having to wait while they were sent for repair. The really useful information he told me was that if I needed the receipt, as long as I went to the shop where I bought the item originally and gave them the card I used for the original purchase, whatever the card was - debit, credit or gift card- then Dick Smith can retrieve the receipt instantly. He also told me that this works for most other companies, but that it may take some time to get the receipt. He told me he waited 8 weeks for a JB Hifi receipt, but he did get it. This means that if you've used a card of any sort to buy your goods, you should be able to get a receipt for the transaction. I think this is a great help for the few occasions when you do need proof of purchase for faulty goods.
Contributed by Vanessa Reynolds
Contributed by Vanessa Reynolds
Keeping Cards Separately for Security
I prefer to use a money purse for everyday shopping which includes my grocery shopping cards. For security, I have another wallet that I use for important cards such as driver's licence, Medicare, credit cards, loyalty cards etc. which is in a zipped section of my handbag and I only bring out that wallet when necessary.
Contributed by Geraldine Giandinoto
Contributed by Geraldine Giandinoto
Financial Peace University
Approximate $ Savings: $10.00
Our car blew up so we have been going in to town by bus. If we paid a single each way it would be $3.20 concession each so we buy a excursion ticket and it's $2.50, saving 70cents each. We put it in a bin with other money we save on groceries. I get Woolworths online, delivered on a Saturday afternoon for free if I am willing to wait between 2pm and 8pm for delivery. It all goes into an account I call "Would have spent it." We are saving for a holiday to Perth next year.
Contributed by Lynette Vit
Our car blew up so we have been going in to town by bus. If we paid a single each way it would be $3.20 concession each so we buy a excursion ticket and it's $2.50, saving 70cents each. We put it in a bin with other money we save on groceries. I get Woolworths online, delivered on a Saturday afternoon for free if I am willing to wait between 2pm and 8pm for delivery. It all goes into an account I call "Would have spent it." We are saving for a holiday to Perth next year.
Contributed by Lynette Vit
Carry the Exact Cash
Approximate $ Savings: $15.00
When going to the shop for one or two items take only the amount of cash you need and then you cannot overspend on unnecessary items. I save myself heaps by doing this not only in money but in time as well because previously I would get sidetracked and forget the item I really needed.
Contributed by Jan, Kambah
When going to the shop for one or two items take only the amount of cash you need and then you cannot overspend on unnecessary items. I save myself heaps by doing this not only in money but in time as well because previously I would get sidetracked and forget the item I really needed.
Contributed by Jan, Kambah
The Benefits of Being Financially Responsible
Approximate $ Savings: A lifetime of savings & no financial stress
This isn't so much a tip. I just wanted to share an unexpected discovery with fellow Cheapskaters. To explain : 14 years ago our financial circumstances were bad. To keep within our limited income we had to stick to a strict budget, and it was difficult for me. At first I hated it, my husband was the driving force who kept us on track. Thankfully, we were able to survive and recover. Then recently, a financial windfall allowed our family to enjoy an overseas holiday (we were very responsible with the rest of the money!). We did not have a budget for this holiday! For the first week, we didn't know ourselves - we splashed out on whatever we wanted, HOWEVER, by the third week, we were actually back to our usual cautious spending pattern - even the kids! To our surprise, we found we just didn't have it in us to waste money! Being financially responsible becomes a way of life. Who'd have thought it? Contributed by Ann, Capalaba
This isn't so much a tip. I just wanted to share an unexpected discovery with fellow Cheapskaters. To explain : 14 years ago our financial circumstances were bad. To keep within our limited income we had to stick to a strict budget, and it was difficult for me. At first I hated it, my husband was the driving force who kept us on track. Thankfully, we were able to survive and recover. Then recently, a financial windfall allowed our family to enjoy an overseas holiday (we were very responsible with the rest of the money!). We did not have a budget for this holiday! For the first week, we didn't know ourselves - we splashed out on whatever we wanted, HOWEVER, by the third week, we were actually back to our usual cautious spending pattern - even the kids! To our surprise, we found we just didn't have it in us to waste money! Being financially responsible becomes a way of life. Who'd have thought it? Contributed by Ann, Capalaba
Examining Spending Habits Finds Savings
The challenging economic times have forced our family to examine EVERYTHING we spend our money on, to see where savings can be made. For instance: 1. Instead of buying meat from the supermarket every week, we're making a monthly trip to Victoria Market, about an hour before closing time, to snaffle the best bargains and the best quality meat. 2. Instead of buying coffee and a muffin every day, we're using the coffee machines at the office and baking our own muffins. 3. In this sizzling Melbourne summer heat, I carry a reusable water bottle with me everywhere I go (it stays in the work fridge during the day), to avoid buying drinks as I wait for the trains - when they decide to show up! 4. Before leaving home for work, we turn all appliances off at the wall except for the fridge/freezer. 5. I avoid taking my purse with me if I'm going for a walk at lunchtime or popping out to a meeting - I can't be tempted to buy anything if I don't have any money/cards on me! Challenge yourself to examine EVERY way you spend money to find savings. As Cath says, we don't have to go without if we implement practical changes and plan ahead! :o)
Contributed by Kate Ashmore
Contributed by Kate Ashmore
No Such Thing as Interest Free
The old Protestant ethic (if you can't afford it, you can't have it) seemed to be regarded with disdain as the mighty credit took over. Interest free isn't really. I found a few years ago that the account keeping charges are the same as the interest. These days I pay off the lounge (or whatever I am buying) in a lump sum and put an end to the "interest free" caper . Because it isn't. No one can afford to lend you money for nothing - there is always a cost!
Contributed by Macca
Contributed by Macca
Don't Be Delusional About Costs
Sometimes I just want to get off the place and use a shopping trip as the excuse and that is the truth of it. The time has come to bite the bullet and put on paper what has previously been just an idea of costs. To shop at the closest town is a 40 kilometre round trip, one major and one minor supermarket - not much to be gained on savings there. The major centre is a 120 kilometre round trip with all of the wonderful options of wholesale butcher, supermarkets and most major stores. This is what I've come to in costs so far (I drive an old Magna): Annual expenses: Rego.$500, Insurance $99, Oil filter $40, Tyres $100, Servicing $100 (Hubby takes care of car). The approximate cost per kilometre @ 10,000 kilometres per year is 9 cents per kilometre. Add the cost of fuel at $1.30 per litre and the 40 kilometre local round trip costs $17.60, the 120 kilometre regional round trip plus 20 kilometres around town costs $48.00. WOW! Did that change my thinking. That means that I have to save $30.40 (the difference between getting to the local and the regional centres) before I make any headway at all on savings with my shopping!!!! Yes I usually grow as much as is practical, but I still need to purchase the rest. Now when I open the freezer and look at what is there I'll be adding the cost of running the freezer to the equation. What I've learnt from this little exercise is that if I need/want to get serious about what it costs to live in the country and nail it, I have to be honest with myself.
Contributed by Carol Ryan
Contributed by Carol Ryan
Leftover Dinner Budget Adds to Savings
Approximate $ Savings: $600
I set a budget of $10 per dinner for my family (there are so many meals that can be made on this budget) with any money that is left over put into my 'piggy bank' and saved for Christmas. This year I was able to save enough for all the kids pressies and have some left over for my husband's too. Small amounts saved over twelve months do add up!
Contributed by Sommer, Kambah
I set a budget of $10 per dinner for my family (there are so many meals that can be made on this budget) with any money that is left over put into my 'piggy bank' and saved for Christmas. This year I was able to save enough for all the kids pressies and have some left over for my husband's too. Small amounts saved over twelve months do add up!
Contributed by Sommer, Kambah
Small Change for a Small Expense
Approximate $ Savings: $10 a week - variable
We have a little basket on the phone table that's full of small value coins. The gold coins are saved for a purpose, but these smaller coins just seem to gather with no particular purpose. Banks don't want to accept them. The new rule in our house is - if something costs under $3, it must be paid for with small coins. The weekend paper, a bus fare, a couple of tomatoes or onions from the shop on the corner, a tub of yoghurt from NQR - all these things cost under $3. Everyone in my family now happily has a cache of small money to pay for these smaller expenses, and the basket full of coins can be dipped into at any time by anyone. You know how fatal it is to split a $10 note, or worse - a $50 note from the ATM. The money seems to float away with nothing to show for it. By paying with small coins we keep the gold and the notes unspent.
Contributed by Georgina, Keilor
We have a little basket on the phone table that's full of small value coins. The gold coins are saved for a purpose, but these smaller coins just seem to gather with no particular purpose. Banks don't want to accept them. The new rule in our house is - if something costs under $3, it must be paid for with small coins. The weekend paper, a bus fare, a couple of tomatoes or onions from the shop on the corner, a tub of yoghurt from NQR - all these things cost under $3. Everyone in my family now happily has a cache of small money to pay for these smaller expenses, and the basket full of coins can be dipped into at any time by anyone. You know how fatal it is to split a $10 note, or worse - a $50 note from the ATM. The money seems to float away with nothing to show for it. By paying with small coins we keep the gold and the notes unspent.
Contributed by Georgina, Keilor
Shift Payday to Have a Holiday
A time honoured budgeting strategy for me has been the following. In my case I am paid fortnightly on a Thursday so each fortnight I move my payday forward one day so with 26 fortnights per year in just over one year I have two extra pays which in my case I use for holidays. I also use this strategy with my weekly shopping. I have a set amount each week and move it one day each week so every seven weeks I have an extra weeks shopping money which goes into a Christmas club.
Contributed by Patrick, Cessnock
Contributed by Patrick, Cessnock
Keeping a Record of Receipts and Warranties
You can scan and save receipts for purchases and warranty information, great around Christmas time to return faulty goods. I have also scanned all important personal documents i.e.: passports, driver license, birth certificates, serial numbers, credit cards and bank contact details. This way if you lose your wallet, you have all your information on a thumb drive to access and cancel or replace.
Contributed by Rhonda Taylor
Contributed by Rhonda Taylor
Simple Tax Filing System
I use a very simple filing system for all our tax papers, receipts, invoices etc. I have a desk topper (a frame that holds suspension files) sitting on the desk with six suspension files in it. I have one manilla folder set up for each of the last five financial years and one for the current financial year. I hang these in the suspension files, with the current year at the front and the last year at the back. Everything tax related is put into the folder as it comes in. When tax time comes around everything we need is all in the one folder and we can just pick it up and take it to our accountant. When the current years tax is completed, I take the back file, which is now six years old, and shred everything in it. I then move the suspension file to the front and add a new manilla folder for the new financial year. This keeps the tax filing under control, rotating through until it is time to shred each year. It also saves a lot of time and fuss at the end of each financial year if all we have to do is pick up the folder and go. Everything is in the one place and nothing gets lost.
Contributed by Grace, Wattle Park
Contributed by Grace, Wattle Park
Convinced with Coffee and a "Cheapskates" Pack
A colleague introduced me to Cheapskates, but being the skeptic that I am I was convinced that it could not work, how could such little changes to my way of thinking/shopping make such a difference. To 'test the waters' I signed up for the tip sheet and newsletter to see what I could gain by joining the cheapskates club. Wow, I was amazed and completely convinced I could live the cheapskates way, so I joined up. At last, I thought, I'm on my way to living my life debt free, I had never been so excited, but my happiness was short lived when I realised that I had to now convince my husband. How was I going to do this? I needed evidence that 1. it could be done and 2. that we could benefit from it. I set about creating a cheapskates 'pack' which contained various tools and guides from the Cheapskates Club website, along with a spreadsheet of our current spending 'budget' and bank statement (always a reality check). Once the 'pack' was ready to go we headed out for coffee and I 'presented' him with my goodies. He was still not fully convinced , so I asked for a month , 1 month to prove to him we could save money. Not realising he was up against a determined, newly converted Cheapskater and still sure it could not be done, he agreed. We began our road to a life debt free with MOO (Make Our Own)month, and what a rocky road it started out as. I'll admit it wasn't easy, with the family offering resistance and the work involved in changing our lifestyle it was definitely challenging, but the thought of having money saved and being able to live stress free inspired me to keep going. With Moo month over, we again sat down over coffee, this time at home with home-made choc brownies to debrief. We managed to save a whopping $1350 for the month, enough to persuade my husband to continue living the cheapskates way. My husband now spruiks about MOO month to his family and my daughter has great delight in telling school mates about MOO month. We are by no means debt free, but are definitely on our way. Living a frugal and happy life can be done, all it takes is a little organization and a willingness to live debt free.
Contributed by Tracey, Banks
Contributed by Tracey, Banks
Colour Coding Money Saving Goals Keeps Cheapskater on Track
After hitting a very hard brick wall financially I decided that we could no longer go on financially with credit cards, car loans etc. I decided to print a calendar template off my computer and set two money saving goals for the month. I have started with: 1) Turning my gas heater off over night and only turning it on number 2 (which is low) if needed at all during the day and 2) Making my husband's sandwiches on a Sunday night and freezing them. I have used a corresponding highlighter colour for each of these. Now at the end of every day I proudly colour in half of each box for the task I have completed that day. This is making me more aware of what I am doing on a daily basis to try and keep our heads above water! And the satisfaction I feel when I look at the month and do the math and see how much I have saved all by making myself accountable is fantastic.
Contributed by Jessica, Ringwood
Contributed by Jessica, Ringwood
A Change of Bank Account Keeps the Budget on Track and Slashes the Mortgage
I have been keeping a tight budget for nearly a year now using an envelope system where all the money from each pay goes into a particular section envelope for when the bills come in. This was great for discipline at the start as you could only use the cash that was there. I have now progressed well and have found myself with around $4,000 in my envelopes at any time making it a little unsafe should I be burgled or have a fire. I have recently reviewed my home loan contract and found that I have the option for an offset account where all money in my offset account is reduced off the principal of the loan before working out the interest. After talking with the bank I found that it costs $10 per month for the account so I would need to keep around $1800 in there each month to offset the fee but could save around $40 a month of interest. This account is just like a savings account so I will now keep my money in the offset account and then transfer the money to my regular account as required. The other great idea is to pay for everything on your credit card during the month and pay it out when the account comes in. This leaves the money in the offset account longer and reduces the interest more.
Contributed by Leanne, Willaston
Contributed by Leanne, Willaston
Savings Incentive: Tuckshop or the Money?
Approximate $ Savings: $40 per year per child
Our school has canteen once per week. As a savings incentive both my daughters are given the option to spend their $1.00 on an ice cream or save it to buy something more important. My eight year old is saving to buy a new pair of jeans. Not only am I saving on dental work, but on my clothing budget for her. Another incentive for her is she gets more time to play as she isn't stuck in the playground eating an ice cream. We both win.
Contributed by Roxanne, Kingsley
Our school has canteen once per week. As a savings incentive both my daughters are given the option to spend their $1.00 on an ice cream or save it to buy something more important. My eight year old is saving to buy a new pair of jeans. Not only am I saving on dental work, but on my clothing budget for her. Another incentive for her is she gets more time to play as she isn't stuck in the playground eating an ice cream. We both win.
Contributed by Roxanne, Kingsley
Learning to Manage on What You Have
What I've come to learn is if I don't have the cash, if I'm borrowing from next weeks pay then I'm not really saving. I end up borrowing from the next several pays to buy things that were on sale and then before I know it my budget is out of control. I figure the shops have no layby on sale items because they realise that with hindsight we would realise we didn't really need the item. So I've decided to stick to my budget no matter what. Sales, if I overspend, don't really save me money. If I stick to my budget with clothes over the long term I have plenty of good clothes and there are always sales so I don't really miss out. Some of this is theory based on lots of thought into what I'm trying to achieve and my memory of how I lived as a single mum 16years ago. Back then I lived very, very well on the pension. We had the best of everything, I learnt that paying a little extra for quality was worth it in the long run and I always had the money for the quality brands and didn't have to scrimp and scrape. I still have sheets and towels I bought back then for my daughter. I also have a good freezer which I stock with ready cooked meals and supplies (bought on sale) of things needed to be able to have people over for meals which we enjoy also. I've just started stocking up with ready cooked meals and it is working well. Have to be sure they are meals that work well with freezing though. I've had a couple of flops to start with. Deserts are a bit of an issue because we always eat them but at least we always have ice cream and tin fruit. I buy a big tub of ice cream every fortnight unless we already have 2 in the freezer and plenty of tin fruit. This ensures we always have ice cream and fruit on hand. I'm now trying to have on hand a UHT custard and cream in the pantry.
Contributed by Donna
Contributed by Donna
In Only Makes Saving Easier
Approximate $ Savings: Astronomical!
My husband and myself are absolutely horrid savers, but if there's a way to get to it we'll find it. Recently I rang up the bank and set up isaver account so we have Internet access to see what is in the account and are able to transfer funds into the account but have no online access for withdrawals and at the bank we have it set up as a 2 signature account so we both have to go sign to get money out. In our case my husband is in field service and is usually out of town during the day and workwise he works 7am to 6pm so unless he specifically takes time off work to come to the bank with me we can't access it. So far we haven't actually NEEDED any of the money in there enough to go to that hassle. Makes you think twice before buying a want. PS I also work out our budget on payday, pay everything, leave a minimal amount for needs for that fortnight and the rest gets transferred into savings before wasted.
Contributed by Heidi
My husband and myself are absolutely horrid savers, but if there's a way to get to it we'll find it. Recently I rang up the bank and set up isaver account so we have Internet access to see what is in the account and are able to transfer funds into the account but have no online access for withdrawals and at the bank we have it set up as a 2 signature account so we both have to go sign to get money out. In our case my husband is in field service and is usually out of town during the day and workwise he works 7am to 6pm so unless he specifically takes time off work to come to the bank with me we can't access it. So far we haven't actually NEEDED any of the money in there enough to go to that hassle. Makes you think twice before buying a want. PS I also work out our budget on payday, pay everything, leave a minimal amount for needs for that fortnight and the rest gets transferred into savings before wasted.
Contributed by Heidi
Automatic Saving Money
As I find it extremely difficult to save with two very active teenage boys, I asked my pay office if they could deduct a certain amount of money each fortnight from my pay. I do not see this money as I pay it as extra tax. Thus at tax time, I receive a large amount of my own money back and am able to use it for expensive items I wouldn't have the money for. This year I used it to buy 4 new tyres for my car and some well over due prescription glasses.
Contributed by Ondine, Mernda
Contributed by Ondine, Mernda