If you were anything like me when I was young, then you don’t think too much about saving for a rainy day. Apart from not saving much, I was a champion at blowing my dough. No one likes budgeting, but you’d be surprised just how much you unconsciously spend when you don’t keep a track of your outgoing dollars each month.
If you are serious about saving then knowing where you are spending your money is crucial.
The best way to know where you spend your money is to use a budget tracker and you can download a free tracker app at https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/mobile-apps/trackmyspend, or I can email you a excel spreadsheet. When you are aware of where you are spending your money then you can plan a budget to help save for a car or a house.
In the meanwhile try my swap it occasionally don’t stop it tips.
1. Instead of buying a coffee everyday at a coffee shop at $4 dollars ake it an instant coffee at home or work most days and put the difference your savings account. Save $60 per month
2. Take lunch to work instead of buying it. Deposit the $10 dollars that you would have spent each day into your savings account. Save $150 per month
3. Swap drinking Johnnie Walker blue label for about $160 per bottle to Johnnie Walker red for $37 per bottle after a few drinks, most people won’t be able to tell the difference after a couple. Save $100 per month
4. Swap renting for six month for living rent free with the parents. Save $680 per month
In 12 months’ time you could have saved $11,880 which would be enough for a deposit on a one bed unit in cairns.
Cairns Loan Broker