1. Keep a money jar for loose coins
This is probably one of the most simple yet effective ways to save money. Better yet, the sooner you start, the more money you will accumulate in the time between now and your travels! So, what are you waiting for? Find an empty jar, make a DIY “Travel Funds” label and start collecting!
2. Invite your friends over instead of going out
Going out for lunch, dinner or coffee can soon burn a hole in your pocket once it adds up at the end of the week. Save yourself a small fortune by inviting friends over to your house for a meal or coffee, and be comfortable in your casual tracksuit pants at the same time. It’s a win-win!
3. Clean out your closet
No matter how many times you do it, there will always be more and more items that accumulate in your closet that you could do without. Instead of throwing them away, collect all the clothes and items you can do without and set up shop at a local market or invite your friends over to score a bargain. $5 and $10 can soon add up to hundreds of dollars quite easily!
4. Give up expensive habits
Expensive habits such as drinking, smoking and partying are an unnecessary expense that we could all do without. Instead of heading out to party on the weekends, consider catching up with friends through the day to walk your dog or visit a local park.
5. Swap your gym membership for outdoor training
Gym memberships are expensive, especially when you aren’t using them enough to warrant having one. If you don’t go to the gym at least once or twice a week, consider paying the cancellation fee or transferring your membership and instead opting for outdoor training such as running, hiking, skipping, or swimming. This is an easy way to save up to $20 per week – which equals over $1000 per year!
6. Make gifts instead of buying them from the store
Birthdays, Weddings, Graduations, etc., are often found to be expensive as we aim to please our friends and family with expensive gifts. More often than not, something from the heart will not only suffice but trump other store-bought gifts. Get creative and think of something genuine you can create for your loved one for a mere fraction of the cost.
7. Prepare your meals at home
If you budget $10 for your lunch meal every day of the working week, that’s $50 per week you have spent on just one mealtime! Add breakfast, dinner and snacks into the mix and you have a very expensive diet! Consider preparing your meals on a Sunday afternoon so that they are ready to grab out of the fridge each day. Stir-frys are one of the easiest meals to prepare in bulk and remain fresh for the week (plus they’re healthy!).
8. Watch movies online instead of going to the cinemas or renting movies
Streaming movies online is a great way to see your favourite films from the past and all the new ones for free.
9. Keep your leftovers
Instead of throwing away excess food after dinner, put the excess into a small container and eat it for lunch the next day or even a snack if it is a smaller portion. Not only does this provide you with a ‘free’ meal, but it is also a great way to reduce waste.
10. Use public transportation
While this option may not be appropriate for those living in small community towns, it is a great way for urbanites to save a lot of money, especially if you go all the way. Without a car you will be cutting the cost of repayments, petrol, servicing, registration, and insurance. This is by far one of the biggest money savers.
11. Eat less meat
I’m gonna preface this and say that I am a vegetarian (7 years and counting) so I know first hand how much money this can save. There is of course no need to cut meat completely out of your diet, but consider going without meat for just one or two meals per week – the savings will soon add up!
12. Host a cocktail party at home instead of going out to celebrate
With drinks in bars nearing $10 a pop, it’s not long before you’ve spent hundreds of dollars in just one night out. But that doesn’t mean you can’t socialise and enjoy a weekend with friends. Instead, invite your friends over to your house to BYO alcohol and spend the night enjoying your company instead of that of crowds and lines to enter a club. Alternatively, spend the majority of your evening at home before making your way to a venue to dance the night away!
13. Pay your bills on time
Avoiding unnecessary fees is one of the easiest ways to save money. Keep on top of your finances – it’s as simple as that!
14. Buy in bulk
When something is on sale that does not have an imperative expiry date, buy in bulk!!! If it’s an item that you use frequently, then all the more reason to stock up when it is on sale!
15. Instead of buying new clothes, reconsider some of your old ones
I often find myself browsing the likes of Asos for hours, only to end up cringing at my shopping cart total and exiting the screen without making a purchase. Instead of always buying new clothes, take a look back through your wardrobe and rediscover some hidden gems.
16. Go to the library
Whether you’re looking for a light read or to save money on text books, go to the library!!!! I didn’t discover this trick until my last year of uni, where I didn’t buy any text books and saved literally hundreds of dollars.
17. Make use of those ‘Cheap Tuesdays’
Cheap movie nights or pizza nights are often held on Tuesdays, and are a great way to make up for all the socialising you have missed out on by trying to save money! Round up your friends and book a table or go see a flick to make sure you keep up appearances.
18. Talk to family and friends on the internet instead of on the phone
Nowadays everyone (who’s anyone) has at least one form of social media. Instead of calling friends and family, use your smart phone or computer to contact people via Facebook, Twitter or Instagram – it will save you from receiving an ugly phone bill!
19. Only use ATMs associated with your bank
ATM fees are a nightmare. Those $2 and $4 soon add up on your statement!
20. Don’t be so stingy you don’t enjoy yourself!
The Golden Rule is of course not to be SO stingy and tight with your money that you suffer in misery at home, just to have a bit of extra cash while you travel. Make sure you continue to enjoy yourself!
Find more money saving tips for travel at www.travelmoneyoz.com.