Simple ways to save money
Saving made easy
Making small changes in your life can fatten your savings and
help you budget better. Follow these tips to save more money.
Change one habit and save
Small changes can make a big difference to your bank balance.
Change one thing you do regularly and you could save money. Some
- Give up drinking coffee or cut down on alcohol - it may sound
scary but it will save you money and can have health benefits.
- Cancel your gym membership and try cheap or free ways to get fit
- Make your lunch at home.
- Have people over for dinner rather than going out and ask
everyone to bring a plate of food.
- Borrow books and DVDs from the library.
- Lock up your credit card for a month and only pay for things
- Set a limit for birthday and Christmas presents or give
- Share gardening tools and equipment with your neighbours rather
than each buying one of everything.
Record your everyday expenses to work out where you can make
Start saving with a
It can be harder to save money when the people around you are
keen to spend. Try and find a friend who also wants to save money.
You can share tips, enjoy cheap nights out and borrow from each
other rather than buy new things.
You could even have a competition to see who saves the most
money over a set time.
Save on clothes
With fashion changing every season, you don't really need to buy
new clothes all the time:
- If you're buying clothes, check if you can wash them to avoid
dry cleaning bills.
- If you buy something, make sure it goes with at least two other
things in your wardrobe so you can get a few different outfits out
of one item.
- Check op-shops and local markets for bargains.
- Take advantage of stocktake sales or end-of-season clearances
to pay less for the things you need.
Find savings on food, groceries,
electricity and water
There are lots of ways to cut costs at the supermarket checkout
without going hungry or sacrificing quality. See our
webpage how to save money on
food for some great ideas to help stretch your
If you're looking for ways to reduce how much water or
electricity your household uses, you might be surprised at the
difference just a few small changes can make. See our webpage
how to save water and
Rein in restaurant
- Cut back on how often you go out for dinner
- Try cheaper alternatives on the menu
- Order water instead of expensive drinks
- Skip the dessert menu and get a cheaper alternative
Reduce your bank fees
Some financial institutions offer basic bank accounts with:
- No account keeping fees
- Free monthly statements
- No minimum deposit amounts
- No overdrawn fees
You can find which financial institutions offer these basic bank
accounts on the Australian Bankers' Association's Affordable Banking
Try the Saver Plus Program
Saver Plus helps families on low incomes develop a savings habit
and improve financial skills. Saver Plus can help you set a savings
goal and help you reach it.
When you reach your goal, your savings are matched, dollar for
dollar, up to $500. Find out more about Saver Plus.
It's easy to save money by cutting out or
reducing some things you buy. Try one or two of these money-saving
tips and watch your savings grow.
Last updated: 16 Oct 2018