It’s a New Year which means it’s the perfect opportunity to review your finances and work out where you currently stand. Are you saving each month? Could you be saving more? If you’re looking to overhaul your finances and crack down on your savings, then here are top 10 tips to save money in 2021.
Why Save Money?
There are many reasons you might be on the hunt for tips to save money in 2021. Here are just some of the perks that come with getting in charge of your finances and working towards a savings goal:
- Stop living from paycheck to paycheck.
- Pay back any outstanding debts you might have.
- Save up for big-ticket items, such as a car or a holiday.
- Build up an emergency fund.
- Start investing your money for a return.
If you’re ready to dig into some tips to save money in 2021, then read on.
Tips To Save Money In 2021
Are you after some top tips to save money in 2021? There are so many different ways you can save, you simply have to commit yourself and open up to new ways of handling your money. With just a few small changes, you can be well on your way to putting away a tidy sum each month.
10 Top Tips to save money:
1. Set a budget
If you’re looking to save, then you can’t go past a budget. It should be the first thing you look into to set yourself up financially. It’s the perfect way to track your spending and work out how much you are earning and where that money is going. With a successful budget in place, you can get on top of your finances and make some serious changes.
Just Budget has a proven budget and debt management system which can be easily accessed online for FREE. Take 5 minutes to fill it out here.
2. Pack lunch
Whether you’re off to work or heading out for a day with the kids, a home-packed meal is one of the best ways to save yourself some wasted dollars. Meal prepping is one of the best tips to save money and with so many meal inspo pages/ recipes and companies around, the opportunity is endless in 2021!
3. Online grocery shopping
This is a great way to save. You can set yourself a budget each week and actually stick to it with online shopping. You can shop the specials, which means greater savings, and often find things that you would miss in-store. Plus, when you’re in-store it’s much too hard to add up as you go. Online shopping is a great way to cut back the spending. On top of this, shopping online helps you to avoid impulse buying!
4. Only carry cash
Ditch those credit cards! Set yourself up with a certain amount of money at the beginning of each week and with no credit cards in sight, you can’t go over it. It’s the easy way to stop those impulse purchases that just seem to happen.
5. Head to the op shops
Seriously, once you start, you won’t be able to stop. It’s not only a great money saver, but you’re also helping the environment in the process. You get some bargain finds without the hefty price tags.
6. Do a clear-out
Give your bank account a nice boost by doing a clear out. It’s easy. Go around the house and find all the things you don’t use and don’t need. Head onto the Facebook marketplace, eBay, Gumtree or find a local car boot sale and get selling! It’s a great way to declutter, while also bringing in some much-needed savings.
7. Cut the extras
It’s amazing how much those little extras add up. Do you really need Foxtel, Netflix and Prime? Pick one and stick to it and stop paying multiple subscriptions that you rarely use. It helps to go through the apps on your phone as well and to do a clear out.
8. Discuss every big purchase
It sounds stupid, but one of the most effective tips to save money is to actually stop and have a conversation about whether or not the purchase is needed. By really thinking if each purchase is necessary, you’ll be surprised how much you can cut back on unnecessary expenses.
9. Earn an income on the side
The brilliance of the internet is that there are so many side gigs to choose from. Start a blog, offer up your services, become a VA, mow someone’s lawn, sign up to be an Uber driver… the options really are endless. Put this cash straight into savings.
10. Skip the restaurants
As fun as it is to eat out or order takeaway, it much more expensive than a family meal at home. Try and limit your take out food. It will be good for the waist and your bank account.
Managing Your Debts
Saving is a great way to help you get out of debt and back in control of your finances and while tips to save money are great, sometimes you need an extra push to get you there. If you’re feeling overwhelmed by your debts and are struggling to save then a debt management plan could be the perfect way to help you out.
Get in contact with Just Budget and start managing your money today. We offer strategic debt management solutions that are proven to work to help put you back in control of your finances. If you need help with your budget, then our FREE online budget planner is also a hugely effective tool and only takes 5 minutes to complete.