21 tips to save more money in 2021

07 March 2021

21 tips to save more money in 2021

21 tips to save in 2021

01.Talk about money

Let's talk about money! Money talks should be part of every relationship. If you have children, it’s important to teach them how important money management is from an early age. Honesty, transparency and communication are the easiest ways to monitor spending around the house. Schedule in a weekly money chat!... To discuss spending, savings, investments, and set money goals to keep one another accountable to. Want more help on how to set money goals? Check out our article 'Top Tips for Setting Financial Goals!'

02.Know your fixed and variable expenses

It’s time to know your expenses! Often, your fixed expenses will be those essential expenses - like rent, food shopping and gym expenses - that you cannot exclude from your budget. Your variable expenses may include takeaways or fixing something broken, for example. Knowing your expenses and keeping track of them each month is a great starting point for budgeting and forming a better relationship with your money.

03.Try taking your lunch from home.

How much do you spend a day eating out? Working and eating out in a city centre can easily set you back $10-$20, add that up that's $75 a week, which is nearly $4K a year !! On lunch! So do your piggy bank a favour and cook at home, and take leftovers or a packed lunch instead of buying out.

04.Go to the supermarket with a list (and don’t shop when you’re hungry!).

“Flirting” with tasty treats in the  supermarket, buying whatever your eyes fancy can be a dangerous habit, which plays havoc with your personal or family budget. Before shopping, make a detailed list of the items you need to buy. Keep an eye on prices, promotions and alternative options!

05.Try cheaper brands

Another great tip for food shopping is looking out for cheaper brands. The same product can be up to twice as expensive just for a different brand. You can also try cheaper brands of products for cosmetic and cleaning products, for example. Little-known brands tend to have lower prices. Try some, the quality can be outstanding, even if they are cheaper! Supermarket own brands are often a great alternative too.

06.Enjoy the fruits of the season to save more.

Noticed that the price of some fruit varies a lot depending on the time of year? So, choose your fruits wisely! Seasonal fruits always have a more attractive price than scarcer ones.

07.You can grow at home to save even more money.

How about planting some vegetables and fruits in your home and enjoying fresh, healthy and very cheap food? If you can, try it out. In addition to the fun involved in the planting and nurturing process, you will still save your money and reduce your carbon footprint.

08.Celebrate, but for a reason.

Dinner in a restaurant can be the spending equivalent of buying a week's worth of food to cook at home. Cook at home, save your pennies, so when you really have a reason to celebrate it feels really special and you can go all out! Plan ahead how much you want to spend and stick to it! Enjoy!

09.Give your credit card a vacation.

The big problem with a credit card is the false impression that we have more money than we actually have. If you have a card and it is difficult to stop using it, take the tip: take the credit card out of your wallet for a few months and pay everything up front.

10.Go shopping with cash.

Another sure fire tip for those who don’t want to spend more than they planned at the supermarket or mall is shopping with the exact amount of money in your wallet. We are more concerned with knowing how much we are spending and, if the purchase comes to more than you have in your wallet, you will be forced to leave some things on the shelf. Dang! 

11.Shopping does not heal all.

After a hard week of work, many people deserve to reward themselves with a nice purchase, right? Wrong (well, at least not all the time!). The question is not one of merit. Of course, you deserve it; after all, you worked hard, but the point is to remember and prioritise your money goals. Then, when you reach that money goal you can really treat yourself! 

12.Shop at department stores.

Why are people so keen on buying designer clothes? If you really are a sucker for labels, at least try and source basic items at cheaper stores? Prices are much friendlier, and the quality is often good. Or, better yet get down to the thrift shop and try second hand shopping, you can really find some gems. Some recycled clothing boutiques even have designer clothes at a fraction of the price. 

13.Do buy some quality pieces.

Buying too cheap can sometimes cost you more in the long run! The secret is to balance some purchases in cheaper stores and others, for more important and long term items, in stores that offer more expensive products, as long as they are of even better quality and will last a long time. Need a good pair of hiking boots? Invest in a good pair that will last you years. 

14.Create a “zero spend” day once a week

Technically, even if you don’t open your wallet, you will still be spending money on things like rent, car insurance... But, you can still control the money you have in your wallet. The idea is to put that day on the calendar so that it becomes a consistent system, and hey it may even become a habit where you have several days a week not spending a penny from your wallet.

15.Do a lot of research before you buy anything to save as much as possible.

Quality is not always associated with the price of the product. Often, heavy marketing and advertising position the product’s brand so well that we want it, even if it is more expensive than other options on the market. Question this concept and research more rigorously about the product you want to buy. It is possible to find excellent alternatives at much lower prices.

16.Can you repair it? Avoid buying new. 

Choose to fix a problem with a high value asset such as a car or motorcycle to small appliances instead of replacing it with a new one. Chances are a repair will cost much less and keep your product running well for a long time. Frequently evaluate the need for something new. Often fixing is cheaper. Maintaining your possessions will also help them last longer and keep them in good nick. If you do want to upgrade, then you can sell your well maintained existing asset and use the funds to help pay for your upgrade!

17.How about making a piggy bank to help save money?

How many times have you ignored those pennies you get as change when you make a purchase? When added together, those little pennies and change can surprise you! Keep these pennies safe and to the side, they will add to your savings. So, bring back the piggy bank!

18. Make a forecast for car costs (maintenance, insurance, fuel, etc.) 

Many people buy a car without having a good idea of how much it costs to maintain it. It is important to simulate costs to better assess whether you should actually buy or maintain a car or even replace your current model for a cheaper one. Consider the cost of maintenance (oil, repairs, tires), insurance, fuel, annual depreciation, parking and others.

19.Do a lot of research before you buy a car.

Choose a model that suits your reality. Remember that a car is not an investment but a cost—research well before you buy. Many people buy a car thinking about its appearance or status. These are not smart parameters to use when choosing a vehicle. You need to think about your needs first, including safety, size, strength, passenger count, luggage space, the type of road you will use it on, etc.

20.Consider using public transportation to save money.

In large cities, a significant chunk of a lot of people's budget is spent commuting between home and work. If this is the case for you, ditch the car or motorcycle and jump on public transport.  Grab a scooter and scoot to work! Or better yet if you can, walk or cycle and feel the added benefit for your health. Some companies even offer a transport aid, or try carpooling and ridesharing to cut your commuter costs and save up a nice addition to your savings.

21.Borrow more stuff.

How many times a year do you use a drill? And that party dress? We need to change the culture that we need to have everything. Instead of buying, why not borrow these things from a neighbour or a friend? Nowadays, there are even sites that help provide these at a much lower cost than purchasing your own.


Donate what you no longer use!

Besides being a beautiful gesture of detachment, when you donate what you no longer use, it becomes easier to know what you have and what you don’t have. Then, when you feel like buying something, check if you really need it... or if you already have a similar piece that went unnoticed at the bottom of your cupboard or wardrobe.