You don’t really want to give up coffee, or anything else for that matter. However, can giving up the little things really make a difference? Here are some examples of small things that you can do today that might just make the difference between getting by and steaming forward.
Take away lunch
It’s so easy to pop around the corner and pick up something tasty lunch time. While bringing your lunch to work every day is a great idea, for those that can’t quite get there yet, start with swapping out one lunch with leftovers or something from home.
Saving: $8 per serve = $416 per year
Eating out
Most people like eating out, so why stop? Just do it a little bit smarter. It’s easy for an entrée, main, dessert and glass of wine to set you back upwards of $60 per person. Going out is as much about the company and location as it is about the food. Select cheap and cheerful restaurants, skip the entrée or dessert and look out for deals.
Saving: $15 per entrée = $390 per year
Magic beans
Picking up a morning coffee on your way to work and another one to keep you going through the afternoon is a ritual for many. But is it a purchase you’re really getting value from or just a habit? Consider using the office coffee machine or switching to tea.
Saving: $3.62* per cup = $1,882.40 per year
*Average Australian coffee price
Take a walk
This might not work for everyone, but if you live near a public transport zone boundary, consider getting off the bus or train one stop earlier and walking. Not only can it save you a little bit of money, but the walk will do you good as well.
Saving: $1.20 each way = $624 per year
Take another walk
If you regularly use Uber or taxis, give some thought to the route you’re taking. Often you might be able to walk a block or two and avoid traffic jams, red lights or one way streets, giving you both a faster and cheaper trip.
Saving: $6 per trip, weekly = $312 per year
Buy nice things, less impulsively
At some point you’re going to need a new pair of shoes/ jeans/ sunglasses/ dress. While everyone has their own taste and style, grabbing the newest arrival at your local is a great way to make sure you’re paying top dollar. Put a bit of thought and planning and head to a factory outlet where you can either buy it for less, or get something of better quality that will last longer.
Saving: $500 per year
I’m sure you’ll agree that nothing here is that hard to do. To show you how the little things really do add up, the savings from these little ideas alone amount to $4,124.40. This is for an individual. If you’re a couple, this could amount to $8,248.80 every single year. If you think about where you spend your money, it’s likely that you’ll be able to find further savings just by being smarter. It’s not about going without, it’s about making sure you get maximum value for what you spend your money on.
Consistently ranked one of Sydney’s top financial planners (Adviser Ratings), Brenton helps his clients life a great life by making the most of their money. Read his full bio here.
