The New Year is a time when a majority of us set resolutions to improve our daily lives – professionally, personally, physically and spiritually. However, most people also want to improve financially by taking charge of their finances, budgeting and in return boosting their savings.
Here are a few tips that we’ve put together to help you start saving on the everyday things you need and avoiding the things you don’t need. By using just a few of these, you can make better purchasing decisions to get the best value for your hard-earned dollars.
Shop Online! Get with the future (!) and start shifting all of your shopping to online. Save time by avoiding crowds at supermarkets and shops and avoid making impulse purchases. You can also save money by taking advantage of “deals of the day,” online savings codes, free shipping offers, and through cash back sites like Cashrewards.com.au.
Make a Budget and Stick to it. The first step to taking stock of your finances is to put a budget in place for the year. Calculate your take home income and your necessary costs each month. Assess where you could be saving and set a weekly or monthly budget. Set goals for how much you’d like to save for the year and change your habits in order to hit those goals. By skipping coffee or drinks a few times a month, you can end up putting a significant amount of money back into your bank!
Avoid Paying Full Price. Take a few minutes before you hand over your credit card details to find discounts. Use apps and websites to compare prices, earn cash back, and find coupon codes or discounts. Never buy full price ‘new season’ as the products will more than likely be discounted during sales/promotions.
Do Research. Before making a big purchase, do research and find out the best time of year to buy certain items. Also shop around to compare prices at different retailers. Ask if they will price match, and most times they will even beat the lowest advertised rate of their competitors.
Stop Buying Things on a Whim: If you don’t need it, don’t buy it. Simple as that. That avocado slicer, the top that doesn’t quite fit right, etc. Plan out what you need ahead of time to avoid buying unnecessary items on a whim. Shopping online for everyday items such as groceries can seriously reduce your impulse spend.
Use it or Lose it: Likely you have gift cards floating around in your home’s “junk drawer,” just waiting to be used. Use them! Many gift cards actually depreciate in value as time goes on, so get the most out of your gift card and hit the shops with them.
Buy What YOU Need: Choose the right products for you. If you don’t need to spend the extra cash for a new feature on a gadget, don’t. Save your money and get the older (less-expensive) model that will still work for your lifestyle.
Save on Designer Items. Chanel, Prada and Gucci design houses are brands that simply don’t discount (to name a few!)…but shoppers can earn cash back on these brand purchases when they shop through Cashrewards partner outlets like Net-a-Porter, Harrods, David Jones , Neiman Marcus and Farfetch plus many more, and you’ll still score cash in your account from the purchase. That equates to a rare-as-hens’ teeth designer discount!
Be a Loyal Customer: Sign up for newsletters, frequent stores, and follow your favourite brands on social to get the heads-up on bargains and snag extra deals (Facebook, Instagram, and Snapchat).
Save Money and the Environment. Get your daily caffeine fix in an eco-friendly and cost-effective way by purchasing a Keep Cup (or similar). Many coffee shops offer a discount if you bring your own cup. Similarly, pack your lunch salads in mason jars or reusable containers to avoid purchasing one-time-use plastic bags and containers.
Let Apps do the Work for You. Never miss a bargain or an opportunity to get cash in your account. Download the free “notifier” extension on the Cashrewards site. This automatically lets you know which sites are Cashrewards partners when you search or visit, so you can click through, automatically add coupon and earn dollars back on your spend.
Disclaimer: Some items in this article may not be eligible for cashback. Deals, products, displayed prices, cashback rates and available retailers through Cashrewards mentioned above may change at any time without notice. This article has not been specifically sponsored in any way, by any retailer, although Cashrewards has ongoing partnerships with the stores mentioned above in order to provide you cashback at these stores.
Image credit: Fotosipsak