Is your wallet feeling a little flat after the festive season? Do you have a savings goal in mind for your New Year’s resolution? Luckily, we’re here to help.
We know it might not seem like it now, but saving is possible, and it doesn’t have to be a slog.
Those pennies add up over the course of the year, and with a few handy life-hacks from your friends at RateCity, you could to save more than $6,000 before 2020.
That’s more than $500 a month, and you’ll barely notice the difference.
The five easiest ways to save money in 2019 are…
Change your bank account
Are you paying monthly fees on your bank account? Stop. If you have one or more bank accounts on which you pay monthly $5 fees, you’re going to end up shedding out hundreds of unnecessary dollars.
While you’re at it, open up a savings account. Find one with a higher interest offer that’s suitable for your circumstances, and start putting your savings into this account. This way your money will make more money. Easy.
Potential savings: $120 p.a.
Pack a lunch
If you find that you’re spending $15-20 a day on buying lunch, it might be time to start bringing you own to work.
This doesn’t have to be a huge chore, and it doesn’t mean that you need to get up an hour earlier every day. Just start up-sizing your evening cooking. Cook more than you need to, and before you serve up, put aside enough for your lunch the following day.
Bonus point: It’s usually also a healthier option.
Potential savings: $3,900 p.a.
Save on your energy bill
The worst-offending appliances could be costing you as much as $1.50 per hour to use.
From switching off your appliances when they aren’t in use, to switching your energy provider to the cheapest provider, you could just be a few clicks away from saving on your bills.
Potential savings: $2,000 p.a.
Consolidate your debt
Do you have multiple debts that are weighing you down? You could consolidate them all into one lower-interest-rate loan.
Potential savings: $100 – $1,000 p.a.
Quit the gym
This may sound like it goes against your New Year’s resolution plans, but hear us out.
If you’re a real gym nut, who attends classes every day and uses all the equipment, you can skip this one. You’re getting the most out of your membership. Good for you.
But let’s be honest, that isn’t most of us. One alternative is to use YouTube – there are some great workouts online that you can watch that are totally free and that you can do at home.
You could also run on your lunch break, or even start walking to work (if you feasibly can) and save yourself even more money on travel.
Potential savings: $600 p.a.