Living Frugally Australia: Saving on Your Monthly Bills
One of the most daunting tasks in living frugally and maintaining healthy personal finance is figuring out a way to squeeze out more saving on your monthly bills. It can be quite difficult to curb the overwhelming gratifying sensation one derives from spending their hard-earned pay.
Though the task may indeed be difficult, it is important to maintain a long term perspective in terms of personal and household finances. Being a bit frugal with your spending will help you cut out some of the unnecessary expenditures, leaving you with more money to invest, save, and even spend on occasional luxuries which we all enjoy.
Contrary to mainstream belief, money isn’t supposed to be recorded only by businesses. The same principles apply to personal finance as well. Once you’ve started to keep track of every single dollar that you spend, you’ll be able to identify bad spending habits and start saving on your monthly bills as well as highlight different expense categories, and devise a plan according to your actual short-term and long-term needs.
Expensive Takeaway Coffee
We have all gotten quite fond of our daily coffee takeaways, they are great to have, however do you realise how much money you end up spending on these expensive branded coffees throughout a month? Well, brewing a fresh batch and taking it along with you in an insulated travelling mug would surely help you save at least $80 a month and probably even more if you function on coffee like some of us do.
Slash Your Phone Bills
Ask yourself, do you really need such a comprehensive plan? Look around for cheaper mobile phone services can help saving on your monthly bills. It is quite possible that your reluctance to look for cheaper wireless plans could be costing you a small fortune in monthly fees.
Maybe try out mobile virtual network operators, it’s a new technology in the wireless services arena and Google seems to be interested in jumping on the bandwagon as well, best of all, it is substantially cheaper than the major players in the market.
More often than not, people tend to pay significantly more for their internet than they need to and all because of ignorance. Do a bit of market research and try to find out the best deals currently on offer. If you live in an apartment, you can even try to share an internet connection, considering that you trust your neighbours.
Stop Wasting Money on the Gym
Firstly, we are not advocating that you stop exercising just to saving on your monthly bills, but there are many other ways you can get exercise without paying huge fees associated with fitness centres. Calisthenics are coming back into fashion, why not try jogging in the fresh air instead of a treadmill, and try working out using your body weight, such as sit-ups, etc.
People did quite well even before such equipment was invented or was commercially available to everyone.
Conserve energy, prevent wastage, and save the planet in the process. All you have to do is switch off the lights when you leave the room, replace your normal bulbs with energy savers, and go for energy efficient appliances and gadgets. It’s not that difficult if you genuinely try.
Saving money on food isn’t about shopping for lower quality food ingredients, but rather being smart in your purchases and beating the supermarkets. Discard premium brands which charge a value added price for a nicer packaging. Try purchasing non-perishables in bulk quantities. Restrict eating out and instead opt for home cooked meals which are not only healthier for you but also economical.
Price Comparison Apps
Technology is advancing at a rapid rate, utilising them to save money is the only way to go forward. Many apps have been developed that let the users compare prices to determine if they are getting a good deal or not. All you have to do is scan the barcode with your smartphone and you’ll be provided with a comprehensive list of similar products and prices. You can start off by trying these popular apps: RedLaser, Milo, ShopSavvy, etc.
Car pooling is considered as a timeless technique which helps you cut out a lot of unnecessary expenses, and also helps preserve our constantly deteriorating environment. Just look for co-workers who live nearby and I am sure they too would appreciate the chance to save some extra money on gas.
Using best practices associated with taxing protocols, you can significantly reduce the amount of taxes you pay by getting larger refunds. Getting tax refunds can seriously help in maintaining healthy finances and coming out of the year with a larger budget surplus.
Money management is extremely important when saving on your monthly bills. A lot of people, despite making a decent yearly net income, end up being swallowed by rising debt levels. Start planning out your financial future right now by cutting unnecessary costs. It’s the only way for a better future with complete financial freedom.