8 Crucial Steps To $ave
Updated: Mar 9
I wish I was paid to travel around the world and write about my hot spots but sadly that’s far from my profession.
When I am back home in Australia, you’ll find me either in a trench, covered in dust or sweating my ring off as a plumber. That’s right people, these trips I’ve done have come at a price. When I am back on home soil, family and friends ask “How do save for these constant holidays? Did you win the lottery or something?”
”Please, please, please... its called BUDGETING!”
You don’t have to be a tight ass, tight asses shit me (pardon the pun), just be smart and make these easy changes to help you get ahead, financially.
This is why I want to share my 8 hot tips for saving and budgeting for that adventure we all desire.
Let's put these to an every day scenario, starting with breakfast:
1.Have a barrister made coffee, as a treat and not a daily thing.
That's right coffee, damn its good but by far one of THE most over priced things. It's one of those habits you get into. You don't feel right starting early mornings without one in your hand. I know a regular take away coffee in Sydney was between $4 and last coffee I bought (which was the final straw) $5!! It's absurd. If you make your own hot drink, whack it in a Thermos take it to work and save your coffee's as a weekend treat. You'll be saving yet another (lets average it out) : $4.50 reg coffee x 5 days= $22.50 A WEEK x 52 weeks = $1,170 That's the cost of a flight to Europe we never got to go on :(
2. Pack your lunch for work:
You’ll save $hitloads, I tell the young apprentices on every job when we are sitting down and eating smoko (or little lunch/whatever your coffee break is called). They’re hooking into a $20 schnitzel burger, 5 to 6 days a week, then there’s lunch...
What I pack: My personal favorite for lunch. Poached chicken and salad wraps.
All of this would make 5 x lunches for 2 people. For a 1 kg packet of chicken breasts was $12, We would use half the chicken a week and freeze the rest. Weekly expenses - Chicken = $6, Eight wraps = $4, salads for the week = $10 Total: $20. $10 per person, per week x 48 (working days in the year) = $480 for the year! Now, let's throw some figures around for an average day of buying your lunch twice a day.
Breakfast: Obviously we ate before leaving home and arrived to work with our coffee thermos (if you are truly saving)
Smoko/ little lunch or whatever it is you call your first break: Bacon egg roll combo with a drink = average $8 AUD Lunch - $12.50 (average cost) Total : $8 + $12.50 = $20.50 x 5 days a week = $102.50 x 48 (working days in the year) =$4,920 $4,920 - $480 (cost of packed lunches) = $4,440 SAVINGS!!! That's a game changer.
Add the additional savings from the coffee's (you didn't buy) & packing your lunch:
$4,440 + $1,170 = $5,610 in the bank account (we're only up to step 3).
3. Set up a Direct debit account:
It's super valuable to set up the right account that is suited for you. Each pay day, have money direct debited into your new account so you can’t touch it. Set a realistic amount
(I don’t want you living off Spam sandwiches haha). Look for high interest returns and you want this leave this account, DO NOT withdraw a single cent, until you’re heading for the airport. If you can afford to increase your weekly/fortnightly payments….DO IT!
4. Mind frame:
Yes, we live busy complicated lives and love to blow off some steam on the weekends. I'm guilty of it too. Of course you worked hard and earned a cold one or two at your local watering hole (that's a pub for you internationals haha).
Saying this, I would set my mind to: Every beer I have in a pub or club in Australia, could be worth 3 or 4 beers in places overseas (drink responsibly).
5. Drink water:
Yes its a no brainer, we are fortunate enough in Aus, to have drinkable water from the tap. Fill up your drink bottle instead of blowing your money and creating less landfill is a bonus.
6. Work overtime:
To some, the thought of working overtime sucks, for us, it was a way to get ahead. For every trip I picked up as many shifts I could. Mel and I both worked two jobs and massive hours to save for these honeymoons due to the lack of time we had to save. We reached our goal and trust us, its totally worth the sweat.
7. BBQ’s & less bars:
Have mates come over for bbq’s instead of meeting at a bar. You will save plenty of dollars and the only question is……"Who’s playing DJ for the night?"
8. Say no to phone plans.
This is a massive one. When I was younger, I also got sucked into the trap of phone plans. You get distracted by the latest and greatest phones and it seems like a great idea at the time. Throughout the years of being on a plan and then going off one, I noticed the mass amounts of money I was wasting each month. You'd be surprised of what you can get from a $30 pre paid account these days.
The deals you can score with enough data to suffice the month. I went from $60 a month (which I would go over data most months).
That alone halved my phone bill. I could even run my business at the time, off it.
"I am certain if you make these small changes, you will reap the benefits. Once you set these things in place, watch those savings climb"
We love feedback, whether it's good or bad we just love to interact.
Let me know how these steps worked for you.
They sure did for me :)