We tend to overspend during the Christmas and summer holidays and our bank balance take the most damage. But don’t wallow in a negative state, because there are ways on how to have a healthy financial standing this year by adapting a few nifty money making and money saving habits.
- Answer market research surveys. Did you know that you can get paid when you attend focus groups or fill out questionnaires? Market research companies offer up to $200 if you travel to join one of their panels.
- Switch banks. There are banks that are willing to offer a bonus interest rate is you need to open a new savings or deposit account. To help you pick the best bank for you this year, check out this Canstar comparisons.
- Use coupons and vouchers. Those little discount coupons get thrown away a lot when in fact they are free money if you think about it. So, keep your shop docket and wait until you com across handy discounts.
- Switch electric providers. The competition among energy companies is stiff. Don’t wait any longer when you can switch to a cheaper electricity price with another company.
- Sell pre-loved items. Today is the perfect time to declutter cupboards, drawers, and closets for pre-loved items that you can sell on eBay or Gumtree.
- Buy in bulk. When there’s a sale for your non-perishable staples at the supermarket, buy as much as you can and keep in storage. The savings will pile up in the future.
- Open a second savings account. If you find yourself always giving into temptation of withdrawing your savings even if you shouldn’t, here’s a trick that might just work for you. Open a second savings account and schedule a regular direct deposit from your old account every week. Let’s say you want to save $100 per month. If you will transfer $25 a week to your second account without fail, you will have saved $1300 in 12 months.
What money saving habits work for you?