Our response to limit the spread of COVID-19 | Read here

Can giving up your daily coffee really save you money?

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.

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Our response to limit the spread of COVID-19

  • As COVID-19 continues to spread, we would like to take a moment to let you know what Financial Spectrum is doing to respond.

    While we haven’t been directly affected with any confirmed cases, we are taking all reasonable precautions to remain safe.Our priorities are:

    1. Keep our staff and clients safe
    2. Stay fully operational in our service delivery and continuing to manage your financial affairs
    3. Play our part in minimising the impact on our community against the spread of COVID-19

    Financial Spectrum has the technology, infrastructure and systems to continue business as usual remotely and our staff will now be working from home.

  • You should notice no change to our service, with the exception that we are encouraging our clients to meet via video call, rather than face to face, unless requested. We will be contacting all clients with meetings booked over the next two weeks with instructions for a video call.This is an evolving situation and we will continue to monitor developments. We will keep you informed of any material changes to our approach.

    These are unprecedented times and we understand that many of you will be feeling unsettled about your finances. We would like to assure you that we are open for business and are here to help you. If you don’t have a meeting booked but would like one, or if you have questions, please contact us at info@financialspectrum.com.au or on
    02 8238 0888

Brenton Tong

Managing Director

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