Recently I moved from full time to part time employment (mainly so I can focus on getting my degree completed as quickly as possible). Because of this decision I really need to get serious about watching what I spend my cash on! It only just hit me today that I’m going to be earning about half of what I have been for the last 3 years…
After much deliberation these are the first 5 things I’m going to do to reduce my spending.
- At the moment I’m spending at least $75 (approx $15 a day) a week on lunches. I’ll most likely still eat convenience food on Uni days but I’m going to start taking a packed lunch with me when I work. Simple yummy salads three days a week should save me at least $40.
- I’m going to buy my train tickets in bulk. I use them constantly and buying daily tickets is just wasting money. If I buy my daily tickets in lots of five I’ll save a couple of bucks each week. I know it doesn’t really sound like much but it adds up over the course of a year or two.
- Get serious about paying off my credit card. The interest I’m paying is RIDICULOUS right now. I’ve pinned my credit card to the pin board above my desk to stop impulse spending. Now I’m going to pay off as much as I can each month to lower my repayments and the interest I’m paying.
- Subscribe to the magazines I buy each month. There are 3 or 4 certain design/web development magazines I buy most months. A few weeks ago I bought a 6 month subscription to Web Designer from MagShop (they were running a special) for $45. The magazine’s monthly cover price is $14.95, which means I’ve saved myself $45. I’m going to look and see what subscriptions are available for the other magazines I read.
- Sell stuff on eBay or Gumtree. And by stuff I mean things that have been lying around for months that I have absolutely no use for. Example? I have an almost new Blackberry Bold that was given to me when I worked in telecommunications. It’s been sitting at home for almost a year now. I’m in love with my iPhone. I’m not going to switch phones any time soon! EBay time!
I know I’m going to have to do much more to compensate for my reduced income… but I’m feeling a little happier than I was earlier today. I now have a starting point. :)
i need to make my lunch more, and park further away from work so I don’t have to pay parking on the days I have to drive to the northside site…
I think I should just STOP buying magazines… oh and kill my paypal account, too many cute things have been bought online lately! :)
I know what you mean about cute things online. I have to stay away from Etsy! :(
There’s a million things we can do to save money.
I am trying to reduce my outrageous electricity bill by switching things off at the points and using energy saving bulbs.
I use vinegar for mopping the floor.
I buy block cheese in big blocks and grate half and freeze it rather than buying grated cheese.
Go to a butcher rather than buying meat in Woolies etc.
Markets for fresh fruit and veg. Much cheaper.
I read the papers online rather than buying them. Google is my friend lol.
I buy 5L shampoo and conditioner from the hairdressers for around $17 for 5L and just put it in old shampoo and conditioner bottles. Great shampoo and much cheaper!
There’s more but I’m a bit time poor at the moment.
good luck with it!
Oh the shampooo idea is awesome. I think I’m gonna have to do that too!
I reduce my spending by buying fewer Metcards, too. At the start of the year I was getting dailies, which then became weeklies, and now I get monthlies whilst at uni.
Wow, $15 is a lot to pay for lunch! I try to stick around $6-7 as a maximum. I pretty much exclusively drink water from home during the day (with the occasional milkshake, hehe), too, so I guess money can be saved there?
Oh I wish I could spend $6 a day… I work on a street that consists of expensive cafes!