Campaign: Meet the Lucky Bunch!
Primary keyword: money saving tips
Supporting keywords: how to save money; save money; how to save money fast; ways to save money
Buyer persona: Alice (female, 33 yo, married, mother, college graduate, millennial)
Buyer stage: awareness

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Money-Saving Tips: A Guide With 4 Smart, Easy Steps

Struggling with saving money is the reality of most Australians. According to a survey by online finance information platform money.com.au, 61% of Aussies were not saving and had nothing to fall back on if they did come into financial hardship in 2020. In a scenario with worsening economic conditions due to the impact of COVID-19, learning how to save money effectively becomes a pressing matter for young families worried about their futures.

Table of Contents

1. Money-Saving Tip #1: Set a Savings Goal

2. Money-Saving Tip #2: Change a Spending Habit

3. Money-Saving Tip #3: Make Saving Automatic

4. Money-Saving Tip #4: Avoid Impulse Spending

Life can be a lot sometimes, right? Treating yourself to a nice gift may seem like the only way to feel at peace with the world around you. This is not, however, one of the smartest ways to save money and have a good reserve for when something unexpected happens.

If, by now, you’ve reached the smart conclusion that it's time to change how you plan your finances, here are four smart money-saving tips to be applied to your everyday life.

Money-Saving Tip #1: Set a Savings Goal

This may sound simple, but if you do not have a goal (or if it’s a goal too far in the future) this whole process will turn out to be much harder. Whether you’re saving for a much-desired holiday or for a much-needed house renovation, try to make that goal as clear as possible by writing it down so you can think about it often.

If still in doubt, check out our article on how to create your own Savings Goal Calculator.

Money-Saving Tip #2: Change a Spending Habit

What’s better than ordering in some food and watching Netflix after a hard day at work? This popular habit in today’s world, however, may be impacting your finances. Aussies spend 34% of their food budget eating out, according to the Australian Bureau of Statistics.

Money-Saving Tip #3: Make Saving Automatic

Tip #3 was wade for those who have turned saving money into a physically painful process. Why not, then, request a monthly automated transfer between your checking and savings accounts? It's feasible with almost all banks and will relieve you from this constant pressure.

Money-Saving Tip #4: Avoid Impulse Spending

This can be the trickiest one to follow through since it's been scientifically proved that buying can soothe one’s nerves and tension. It doesn’t fall, however, under the ‘how to save money fast’ category and can be avoided with practical tactics to reduce impulse buying, such as not grocery shopping when hungry, for example.

Got any more useful tips on how to save money? We’d love to hear about them in the comments section below.