THE CHEAPSKATES CLUB
  • Home
  • Join
  • About Us
    • Cath's Story
    • Ask Cath
    • Glossary of Cheapskating Terms
  • Forum
    • Current Forum Discussions
  • Inspiration
    • Getting Started
    • Articles
    • Budget Renovations
    • Saving Stories
    • Learning Centre
  • Recipes
    • Recipe File Index
    • Meal Plans
    • Add a Recipe
    • $300 a Month Food Challenge >
      • $300 a Month Food Challenge
      • The $300 a Month Food Challenge Forum
  • Newsletters
    • Newsletters 2021
    • Newsletters 2020
    • Newsletters 2019
    • Newsletters 2018
    • Newsletters 2017
  • Saving Money
    • Latest Tips January 2021
    • Cheapskates Tip Store
    • Tip Sheets
    • Top Tip Competition
  • Contact
    • Changing Details
Sentry Page Protection
Please Wait...

Two Simple Savings Tricks - September 2019

If you have a spending problem or you just haven't developed the habit of saving, don't worry - you're not alone. 

But you can beat that spending problem and learn to love saving with these two simple tricks you can use to increase your net worth. They are both simple, painless and best of all, profitable.

Trick No. 1: Hide it before you can spend it.
Out of sight is out of mind. When it comes to money, out of sight means in the bank. "In sight" eventually means out of your wallet. So, get your money out of reach before you can spend it. This can easily be accomplished by having money deducted from your pay and deposited straight to your savings account. Or you can salary sacrifice, if you're eligible, into your superfund - building your retirement nest egg quickly and surely.

Trick No. 2: Limit your spending power.
Automated teller machines (ATMs) make getting cash very easy - which is very bad for your bottom line. Just take a look at your bank statements. See all those $40, $60, and $100 ATM withdrawals listed? Can you account for that cash? Probably not. So, make this the rule: Decide on a minimum amount of cash you need for a week. Withdraw that amount on Monday, and do not make another cash withdrawal until the following Monday.

These are two very simple things you can start doing right now to become debt free, increase your wealth and put you on the path to financial independence. 
Back
Next

About

Getting Started

Tools & Guides

Follow Us

Cath's Story
You Really Can Live on One Income
Join the Cheapskates Club
Site Information
Contact
Begin here
Newsletter Archive
Journal Archive
$300 a Month Food Challenge
Forum
Cheapskates Tip Store
Cheapskates Recipe File
Tip Sheets
Facebook
YouTube

Copyright ©2001 - 2020 THE CHEAPSKATES CLUB, All Rights Reserved
  • Home
  • Join
  • About Us
    • Cath's Story
    • Ask Cath
    • Glossary of Cheapskating Terms
  • Forum
    • Current Forum Discussions
  • Inspiration
    • Getting Started
    • Articles
    • Budget Renovations
    • Saving Stories
    • Learning Centre
  • Recipes
    • Recipe File Index
    • Meal Plans
    • Add a Recipe
    • $300 a Month Food Challenge >
      • $300 a Month Food Challenge
      • The $300 a Month Food Challenge Forum
  • Newsletters
    • Newsletters 2021
    • Newsletters 2020
    • Newsletters 2019
    • Newsletters 2018
    • Newsletters 2017
  • Saving Money
    • Latest Tips January 2021
    • Cheapskates Tip Store
    • Tip Sheets
    • Top Tip Competition
  • Contact
    • Changing Details