We can all be guilty of wasting money on the little things, but when it comes to buying a big ticket item such as a car, we are pretty good at getting value for our money. We’ll look at several different models and compare prices and features before making an informed decision.
However, we often don’t adopt the same attitude when it comes to day-to-day purchases like clothes, food, entertainment etc. Imagine the savings you could make if you did.
It all adds up
Let’s start with food. How many times last week did you buy your lunch? Although each purchase may seem small, buying daily lunches quickly adds up. You could make make your lunch at home and easily save approximately $50 a week. That’s over $2500 a year!
How about your groceries? If you analyse how much you spend each week, you might be surprised at the total. Perhaps you could consider trying generic brands instead of big name brands to see if they are suitable replacements. This, combined with shopping for “specials”, would reduce your spending and improve your personal cash flow.
The best way to save money around the house is to be vigilant – for example, turn the lights out when you leave a room, set the air conditioner’s thermostat higher in the summer and lower in the winter and be more “water wise”, both inside and outside.
To improve your personal cash flow you need to be a disciplined consumer rather than an impulsive buyer. If you make some changes now, you’ll soon see some positive results and if you regularly bank the money you save, you’ll have a fund for unforeseen expenses or emergencies that may arise in the future.
If you want to improve your personal cash flow, we can help you create a plan so call us today on 08 9204 3733.