When it comes to saving, sometimes it pays to think small. Little changes can make a big difference.

Here are our five savings ideas to help you achieve your goal faster.

 

  1. PRICE PROTECTION CREDIT CARD

Don’t you hate that -> when you shop around diligently to get the best price on your first new fridge in years, only to find it $100 cheaper at another store a week later? If your credit card has price protection, they’ll pay you the difference on selected

items. There are plenty of conditions such as time limits and it’s not applicable to online purchases – but it could save you hundreds of dollars.

 

  1. AUTOMATIC PAYMENTS
    Nothing is more annoying than a late fee. And it can happen to the best of us. Setting up automatic payments can be useful for recurring bills ensuring you not only escape late fees, but can also take advantage of early payment incentives which can save up to 10% of the bill in some cases.

 

  1. SUBSCRIPTION OVERHAUL
    Once you have set up all those automatic payments, keep an eye on them. Regularly check your subscriptions, automated bills and automatic charity donations to see if there is anything you no longer need. Particularly with smaller amounts, it is easy to overlook or just let it go month after month. Are you still using that gym membership coming out of your bank account each month?

 

  1. CASH BACK CREDIT CARD
    In the same way, you can accumulate points through rewards programs such as Fly Buys. Some credit cards offer a cash back rewards program with money going back into your credit card.

Programs differ in how, when and for how long they are offered. As always, paying the full balance of your credit card on time is important and no rewards program warrants overspending. But if used wisely, cash back can give you just that.

 

  1. YES, THE COFFEE ONE
    We know you know that giving up one or two store bought coffees each week can save us hundreds of dollars a year, but it’s worth repeating. And it doesn’t have to be coffee. Look at all your smaller, discretionary spends to find something you can give up in order to save. Just remember to keep a few treats in there.

 

Successful saving isn’t about squirreling away every cent you earn. It’s about mindful choices and ensuring you are taking advantage of every offer available to you to maximise your bottom line.