Getting practical with saving
Getting into the habit
One of the best habits we can get into is saving. The more we get into saving money, the easier it is to deal with unexpected events, achieve our goals and get ahead. Saving gives us more options in the future.
The main thing about saving is setting realistic goals – even small amounts add up over time. Start small, start now.
Energy-saving tips
Use powerswitch.org.nz to compare the cost of your power and make sure you’re getting the best price. Phone your current supplier and see if you can get a better deal.
Think about what needs taking care of now, to make sure you’re warm and dry during winter.
Replace any worn window and door seals.
If your windows are still letting in a draught, install adhesive draught stopping tape.
Use draught stoppers under doors - using a pool noodle is an easy and cheap DIY draught stopper.
Use bubble-wrap as makeshift double-glazing for windows (smooth side facing the room).
Get insulation wrap for your hot water pipes and cylinder.
Install or check your ceiling and floor insulation to make sure it is stopping heat escaping and cold entering.
Does the chimney need cleaning? If you’re not going to use it, block it off to stop heat escaping.
Unused subscriptions
Some bank apps have a function where you can check your card subscriptions and where your card details have been stored. This is an easy way of finding all your subscriptions – you may have forgotten about one that debits your account unnoticed.
Find a subscription you can cancel or at least pause e.g. Sky, Netflix, Audible, Spotify, Amazon, an unused gym membership, apps you don't use, or a meal delivery service.
Staying connected
Check you're on the best broadband and mobile phone plans. Again, contact your provider and get them to review your account. Are you taking full advantage of free minutes or texts etc?
Negotiate a better price
Instead of taking the interest free deal, ask the retailer for a discounted price if you pay upfront.
You’ll save yourself establishment fees and avoid the risk of penalties for missed payments.
Get online
Spend a bit of time researching apps, online groups and Google for ways to help save money. There are apps that compare grocery prices, apps that compare fuel prices and Facebook groups that encourage discussion, tips and ideas about finding cheaper ways to do things making your own cleaning products.
Make use of free public services
These include libraries (to access computers and downloadable digital resources, community events as well as books), budget services, and citizen advice bureau to name a few.
Entertain the kids for free
Visit the local park, go for a bike ride, set up a scavenger hunt, make a hut (indoors or outdoors), play charades, get into crafts and colouring-in, learn about getting green fingers and growing your own food, get the family involved in local volunteering, turn the music on, dance and sing, shoot some hoops, or hire toys from the local toy library.
There are lots of ways we can be tempted to break our savings habit, but these practical tips will help you put a little aside every so often, and you’ll be surprised what you can achieve.
Remember the best time to start is now – a little over a long period of time is the key!
Josie from Debtfix shares her practical saving tips