I'm trying to save, to spend less on things I don't need and to live simply. Here are my answers to the How to Save Money Like a Minimalist Tag!
What are the most important frugal things you do every day to save money?
Bring a homemade lunch into work and don't buy a coffee every single morning. Instead, I make coffee at tea in the office and have a cafe coffee once a week as a treat. Every time I'm about to buy something, ask myself if I really need it. If I don't, I don't buy it.
What is your best strategy for saving on utilities?
Utilities are a total rip off in Australia, especially electricity! My usage is low but the bills are still extortionate. The few things I can do to minimise them are:
- Restrict usage. E.g. in winter I only turn on my heater after 5:30 pm, use candles instead of lights, never use the dryer.
- Shop around, ask your provider for a better deal. Maybe you can get an early bird payment discount. Leave if they can't help and you find a better deal.
What is your best tip to save on food and household products?
Eat at home instead of eating out - that's where you'll make the biggest saving. Or if you do go out for a treat, don't drink alcohol or have just get one drink. Try to get some supermarket vouchers from rewards programs. Check the price per unit - all supermarkets should display this. Only buy the essentials.
What is your best tip to save on clothes?
I don't really buy clothes as I already have plenty and don't need to have the latest season's. Only buy essential items you need. Try op shops. Consider a capsule wardrobe, although that's not for me as I like lots of different colours.
What is your best strategy to stay out of debt or pay it down?
Don't spend more than you earn. It's quite simple really. Save an emergency fund. Make regular payments on any debt and try to pay more than the minimum.
Share one thing you do to save money that other people don’t know.
Every time I'm rewarded with a voucher (like at work or through a health & wellness program I'm in) I convert it to a supermarket voucher rather than one for a retail store. Then I don't need to pay for groceries.
How important is it for you to save money?
I want to rely only on myself when it comes to money: not family or friends or insurance. I make sure I have at all times a lump sum saved so I can pay for emergencies, travel and enjoy a break from work. If the lump sum gets low I get a job and save until it's replenished.
Found this tag on the Dollar Dude's YouTube channel here.