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World Savings Day or World Thrift Day is celebrated globally on 31st October to help people develop better habits, such as saving and managing finances. It doesn’t have to be difficult – we’ve put together some easy tips to help you get started.
Put your savings on autopilot
To help grow your savings, consider setting a little aside when you get paid. Whether it’s through your bank or employer, consider setting up automatic fortnightly or monthly transfers, so you don’t have to think about it. Check out this compound interest calculator to work out how much money you could have if you save regularly.
Turn off the lights
Turning off the lights when you leave the room and installing energy-efficient LED light bulbs could help keep your energy bill down.
Clean up your subscriptions
Is there a lurking subscription plan you’ve forgotten about or don’t use? Consider cancelling any subscription plans you don’t use for an easy savings win, including:
Wellness apps, fitness/gym, or other club memberships
TV, music, and movies
Game apps, cloud storage, browser extensions
Magazines and newspapers
Reduce the cost of motoring
A novated lease can help you combat rising transport costs. At SG Fleet, we could help you save on your new car purchase, income tax, and GST as well as make budgeting for car expenses a breeze.
Check out our short video below to find out how you could be paying less for fuel and other car running costs with an SG Fleet Novated Lease.
Accelerating and braking in a smooth and relaxed manner can help with your fuel consumption. Flooring the accelerator only burns up more fuel. Revving your engine while stationary also wastes fuel.
Regular car maintenance
Servicing your car following the manufacturer’s schedule will ensure it’s running smoothly and efficiently. You may also be able to spot any potential problems sooner, which could save you money in the long run.
Check your wheel alignment
Getting a wheel alignment will help improve the performance and longevity of your tyres. A wheel alignment could also help avoid unnecessary wear on your tyres, steering, suspension, and brakes.
Check your tyres
Under-inflated tyres can increase your car’s drag, which increases fuel consumption. Check your car’s manual for the recommended tyre pressure for your car. Correctly inflated tyres will last longer, it’s safer on the road and will improve your fuel economy.
Give generic products a go
Swapping out branded products for cheaper generic brands could save you money and you may not even notice the difference!
Don’t shop on an empty stomach
Consider eating before you go shopping, so you don’t end up buying things you don’t need.
Start a veggie patch
Growing your fruit, veggies, and herbs at home could help you save on those weekly grocery bills. According to a recent study by the University of South Australia, 79% of participants who set up their veggie patch saved more than $250 on grocery costs.
Plan your weekly menu
You could reduce the amount of food waste and your grocery bill if you plan your meals in advance.
Keep a water bottle
Spending money on bottled water can be a waste, so whether you’re going for a walk, or shopping for groceries, consider carrying a water bottle.
Take a walk
If your destination is a short distance away, consider walking instead of driving.
Zap those vampire power sources and gadgets
Vampire power sources refer to any appliances or electronics that consume energy even when they’re turned off or not in use, which could add up to your electricity bill.
If not in use, consider switching off and unplugging any electronics, chargers, or appliances.