Budgeting Tips

Tips on how to save money:

1.    Have a cash account for your everyday needs.

2.    Attach a debit card to this account.

3.    Save or invest a fixed amount of money every pay into a separate account.

4.    Save your pay rises, bonuses, special payments or tax refund.

5.    Put your change into a savings jar at the end of each day. You’ll have spare cash when you need it for small expenses.

Tips on how to reduce your expenses:

1.    Pay by cash or EFTPOS instead of using credit.

2.    Use lay-by for when you can, rather than a credit card.

3.    Internet or phone banking can save on bank fees.

4.    Pack your own lunch to work.

5.    If you buy a car, choose a lower-priced model. Then shop around for loan and insurance deal. A big deposit reduces the total purchase price, and you may also get savings on borrowing and insurance costs.

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