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Pinkk_Sprinkkles

'out there' Money Saving / Budget tips

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stripeymonkey

We do the envelope system but with mortgage offset accounts. We have about 17 accounts - basically for every different bill, PHI, schooling, childcare etc and for savings accounts. I just transfer budgeted amounts into each account on payday and by having it all offset the mortgage interest, we've saved loads!

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stripeymonkey

Newcastle Permanent :)

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She's Crafty

We don't buy cards/wrapping paper. We had about 8 first birthday parites in January and the average card is anywhere from $2-$5 not including paper. Printed out cards from webistes online and paper that DS has drawn on or brown paper with string to wrap. On top of the parties we have had engagements, weddings, baby showers - it can get out of hand really quickly!

 

We also used to do the silver coin thing and would often save over $100 a year. I'll have to get back on to that. Not so much us but for DS we have put $20 a fortnight away since he was born and will continue to do so until he is 21 and that will be his 21st birthday present. It will be a gift with strings, however, such as used for investing, travel etc not just blown.

 

I am a meal planner. Every Sunday sit down with recipes and shopping list after going through the fridge/pantry. This way we don't throw out ingredients or leftovers.

 

Great topic! Some excellent tips.

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71Cath

A quick update from me.

 

I set up another savings account on line (with a better interest rate) behind my every day account and I transfer the extra bits from rounding down every day to that so I can see them adding up.

 

$8.83 in 3 days!

 

Thanks again Little bird.

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3mummy3

What size coke bottle is used for the $2 coins to get to $1000?

 

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PurpleNess
Thanks, I'm downloading the trial now!

 

I second getting into YNAB _ Best thing DH & I have done this year with our finances! It's a real reality hit and easy to use YNAB all the way lol

 

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cb2

3mummy3: the 1.25L

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Froggilicious

We bank with ING and have 8 seperate savings accounts and we have automatic transfers set up to transfer all of DH's pay straight into the relevant account eg bills, so the only money left in our regular account is grocery and fuel money. It also means that our bills etc money earns extra interest on it. We dont own a house so not having a morgage this works well.

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Agnetha

I'm so impressed with the 'rounding down' thing, I started today.

I buy the 1 or 2 dollar cards at the $2 shop, or, even cheaper, a box of 50 cards at bigw and personalise them for birthday, Mother's Day, thank you's , housewarming, Christmas,,etc. with handprints or drawings from dd, small strip of crafting/ scrap booking paper etc.

I can't bear to spend 4 or 5 dollars on a card now. I am Scrooge mcduck on cards

 

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jkate_
I'm so impressed with the 'rounding down' thing, I started today.

I buy the 1 or 2 dollar cards at the $2 shop, or, even cheaper, a box of 50 cards at bigw and personalise them for birthday, Mother's Day, thank you's , housewarming, Christmas,,etc. with handprints or drawings from dd, small strip of crafting/ scrap booking paper etc.

I can't bear to spend 4 or 5 dollars on a card now. I am Scrooge mcduck on cards

 

I'm the same. My DP is from a family where everyone gets $10 singing cards or something ridiculous like that for birthdays etc, every year. I get a bit annoyed when I have to spend $2 coz the $1 ones are all super ugly!

 

The reject shop is my usual haunt for cards as they mark down a lot of John Sands ones to $2.

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Bob-the-skull
I'm the same. My DP is from a family where everyone gets $10 singing cards or something ridiculous like that for birthdays etc, every year. I get a bit annoyed when I have to spend $2 coz the $1 ones are all super ugly!

 

The reject shop is my usual haunt for cards as they mark down a lot of John Sands ones to $2.

 

target have good character ones for $2 which i don't mind...

 

i have been doing the transfer thing since thursday transferring to always have my account ending in a 0 which suits my need to have things tidy in accounts nicely...

 

since thursday i have transferred almost $35! :o

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mez70

I thought of a couple last night.

1: always turn of the mobile Data on your phone when not in use. That way your phone systems can not update applications or download info etc and rack up bills. So each time I want to FB on my phone I go into settings turn Data access on, do what I need to and turn it off. Takes a few extra mins but so worth it in savings.

 

2: Check out Alternative phone providers. I have recently changed to Amaysim and have found them excellent. I get free access to FB , Twitter, Ebay, and a couple fo other sites which is all I do on my phone through mobile data.. Anything else is charged at a reasonable rate. I had been on a very old plan that my old provider had increased the costs on so much but there was no written info etc. I have slashed my mobile bill by 2/3 by this change alone and I am using my phone to FB etc where as I couldn't on my old one..

 

Where possible, DO NOT sign up to things on contract... If I am upgrading things like my phone I always pay outright. Might be a little dearer in the outset, however there are no get out clauses or fees, if I don't use my phone, I have no access or monthly fees for something I don't use.

 

Speaking of plans and contracts... If you have a call allowance built into your plan use it.. Sounds simple but my dad has xxx amount of calls built into his mobile plan, yet he always called me from his home phone so paying for a call, and paying for calls he didn't make...

 

Back to my Internet and the phone... If you have free FB etc on your phone use that to message instead of SMS.. I can send my Hubby a FB message for free and Vice versa rather than use sms....

 

 

 

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3mummy3
3mummy3: the 1.25L

 

Thanks!

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GreenCabbage

When buying new scourer sponge things for the dishes I cut them in half or quarters. Works the same and last longer.

 

I've been doing the round down thing for ages. Saved heaps with other strategies. I empty out my account to my mortgage every pay. Less likely to redraw once it's in there.

 

Before I buy anything I check out prices on my phone and if needed show proof of price to sales assistant, eg buying a fridge he said his best was one price but on their website it was cheaper. Pays to know your prices.

 

Next FY I'm getting CCR paid back to me and setting fees up through AMEX (no extra fees). Means il get 3points per $ on full amount and get the rebate in my account fortnightly. Il use my points for gift cards.

Edited by pinkpineapple

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newphase

I get extra tax taken out (as another poster mentioned re their original HECS debt), and then get a lump sum back at tax time...pays for car reg due around then, school books and fees for the upcoming year and a start on some xmas shopping (Santa stocking fillers). In the past I have had larger amounts taken out for holiday savings...with 3 kids on my own I can't seem to save any other way.

 

Going to try the round up thing to the c/card too now...good tip.

 

Also been doing a tin (one at a time) for smaller since Oct last yr. One tin was used for DS's soccer fees, another was for all the kids darn school photos and DS's special grade 6 t-shirts and jumpers. The one I am starting again now (just opened one...$500) is for DS's High School uniform start up costs and DS 2's starting primary costs for next year. After that it is for a mini trip to Sydney next year with my friends for Mardi Gra ;) . I wack whatever I can afford in there depending on how financial I am in any given week.

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Delirium

Oh, I thought of another thing that I do to save money. I borrow all of my DVDs from the library so I can get them for free. I can even get new release ones if I don't mind putting them on reserve and waiting for them. I also borrow books from the library and download their eBooks and eMagazines to read on my iPad. DD loves laying down on her bed and listening to audiobooks, so I borrow those from the library for her too...

 

That's lots of free entertainment! :)

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~~~

Just thought I'd come back and update about the envelope strategy. I took some cash out last week and put it in an envelope in my wallet. I used cash for all my grocery purchases, and put the receipts in it.

 

So far, it has worked really well this week. It also forced me to be more creative with my meal planning (and stick to it) and think about what I already had in my pantry.

 

It will tick over again on Thursday, and with a few more expensive items due, I think I will have to be more creative again, but I'm looking forward to rather than dreading the challenge :)

 

ETA - I think increasing my awareness and looking at my purchase choices etc is the biggest benefit that I have noticed.

Edited by ~~~

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~Cherish

I so need this thread,

I cannot save!

 

I actually started doing the transfering little amounts into a savings account idea.. i didnt save much, because i desperately needed it one day so transfered it all back...eek. Will start that again as i really need to buy some flights soon,

 

Ive tried saving coins..get to about 10 dollars and the kids need money for sport or something one morning when i have no cash on me...hmm there it goes..

 

Just made up a "$2 Jar" and put my first coin in.. hopefully i can make this one last!

 

Thanks for all the tips :)

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twinboys
I'm not sure if this is really 'out there' but we use polar fleece as curtains during Winter. I didn't think it would work really well but it actually keeps the cold out and retains the heat.

 

 

Another option is to stick bubble wrap over window panes.

Still lets all the light in but it works brilliantly as insulation for heat and also for noise.

 

It doesn't look pretty but would really work for windows that are not clearly visible.

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stressnless9

Loving all the tips, going to buy a tin for all my coins and going to start the transferring thing too!! I already pay a little extra by rounding it up eg. Meant to pay $553.5 per week off mortgage have ur set up so that I automatically pay $600!

 

Not really out there I guess but I've been wanting to buy the kids a cubby house for ages, finally found one that wasn't too expensive! Went around the house looking for things we don't use and sold them now have half of the money to put towards the cubby I have a few more things to sell which should pretty much pay for the whole thing!

 

I also sell the kids clothes when they are too small and put the money towards buying the next lot! Even if they don't need new clothes I go out and buy the next size up so that I don't spend it!

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Pinkk_Sprinkkles

SeL - it sounds like the Envelope idea could work for you - Work out what you need to cover groceries, petrol, kids sport and any other incidentals, withdraw the cash and split it into labelled envelopes - that way you'll always have cash on hand.

 

It takes a bit of dicipline to not dip into another envelope but once you get the hang of it, it's a really good way to learn to budget :)

 

Also, instead of a jar try a tin - that way you have to ruin it to get into it. I picked one up from The Reject Shop for $1

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GreenCabbage

Another thing I've done as an 'incentive' to put money on my mortgage is work out how much I save for every bit extra I put it. I worked out if I put in an extra $355 a fortnight I will save $180K and half the length of my loan. I'm above target at the moment.

 

Once it's on the mortgage I'm less likely to redraw it too except for big things like our cruise.

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luke's mummu
Another option is to stick bubble wrap over window panes.

Still lets all the light in but it works brilliantly as insulation for heat and also for noise.

 

It doesn't look pretty but would really work for windows that are not clearly visible.

 

 

Is the bubble wrap on the inside or outside? All the window or just the bottom 1/2?

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Pinkk_Sprinkkles
Another thing I've done as an 'incentive' to put money on my mortgage is work out how much I save for every bit extra I put it. I worked out if I put in an extra $355 a fortnight I will save $180K and half the length of my loan. I'm above target at the moment.

 

Once it's on the mortgage I'm less likely to redraw it too except for big things like our cruise.

 

 

I love playing around with the calculator to see how much I will save, I certainly find in great motivation to put more into my mortgage and not touch it :)

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~Cherish
SeL - it sounds like the Envelope idea could work for you - Work out what you need to cover groceries, petrol, kids sport and any other incidentals, withdraw the cash and split it into labelled envelopes - that way you'll always have cash on hand.

 

It takes a bit of dicipline to not dip into another envelope but once you get the hang of it, it's a really good way to learn to budget :)

 

Also, instead of a jar try a tin - that way you have to ruin it to get into it. I picked one up from The Reject Shop for $1

 

Thanks may b baby :)

I might try the envelope trick

 

 

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