We’re into 2019, and that means many Australians will be embarking on a New Year’s resolution to save as much money as possible. Regardless of whether that’s to get out of debt, purchase a new car  or go on that dream holiday you’ve always wanted, it’s always important to understand some of the ways that you can cut costs and boost your bank balance.
Leave the credit card at home.
It’s easy to put purchases on a credit card and forget about them until the bill arrives, but this approach to spending won’t help you save money in 2019. Instead, think of your credit card as a last resort, and leave it at home until you really need it.
Avoid online shopping.
It’s easier than ever to spend money from home, but the distractions of online shopping can seriously derail any attempts to save. To help you avoid temptation, you could remove your credit cards from sites where you shop, to make it harder to spend without thinking.
Consolidate your debt.
It’s hard to save money if you’re always having to pay additional interest on a variety of loans. To make things that little bit easier, consider consolidating your debt into one simple payment. Not only will this reduce the time you’ll need to spend paying various bills, but you may also save money by securing a lower interest rate .
Have a spring clean.
This one may sound a bit odd, but you’d be surprised how much money we spend on products we really don’t need. Regardless of whether that’s a bag of flour when there’s already one tucked away at the back of the pantry or a new book when you’ve still got a pile in the cupboard that you haven’t read, taking stock of what you have lying around makes it easier to avoid impulse buys. As an added bonus, if there’s anything you find you don’t need, (such as old clothes), you may be able to sell them to give your savings an instant boost.
Cancel unused subscriptions.
If you don’t regularly use your gym membership or read that magazine that arrives on your doorstep every month, cancel the subscription to immediately save yourself some cash.
It may seem cheaper to pick up a cheap supermarket meal for lunch or swing through a takeaway outlet on the way home from work, but the costs of these compared to preparing food yourself adds up quickly. To save money and enjoy healthier meals, spend a bit of extra time preparing food in advance – your bank balance and your body will thank you!
Find savings buddies.
Saving can be difficult if you feel like you’re doing it alone – particularly when it comes to social occasions with friends. Instead of simply not going out, find friends with similar goals and commit to saving together. A night in watching Stan or Netflix can be significantly cheaper than going to the movies, and can be just as much fun.
Buy in bulk.
If you notice that something you use a lot of (such as toilet paper, olive oil or any other household essential) is on sale, it’s a good idea to stock up. These are the kind of small, essential items that often prompt a trip to the store, so by making sure you’re well-stocked you’ll be able to limit temptation while also saving money by buying when the prices are low.
These savings ideas are just the tip of the iceberg. To learn more ways to save, contact Beyond Bank today