Car costs
Avoid filling up on petrol when prices are at their highest
Use discount dockets for petrol
Avoid expensive car wash cafés
Upgrade your car less frequently — motoring becomes a lot cheaper once you’ve paid off the car loan
Consider downsizing to a smaller car as they are more fuel efficient and the tyres are generally cheaper
Groceries
Buy groceries on sale and choose generic brands where possible
Use a list so you only buy what you need
Plan weekly menus before shopping to avoid waste
Shop only once a week rather than several times, as this will reduce impulse buying
Avoid putting unnecessary items such as soft drink and chips in the trolley
Utilities
Install a water efficient shower head and use a shower timer
Change light bulbs to compact fluorescent bulbs which use around 75 per cent less power
Dry clothes on the line rather than using the dryer which costs around $1 per load
Wash clothes in cold water
Lower your hot water system to 65 degrees
Health and fitness
Ask your doctor or pharmacist for generic medications
Purchase prescription glasses online
If you have private health insurance, check you’ve got the right cover to suit your needs
Give up smoking
Switch to cheaper forms of DIY exercise such as running or walking
Fashion and beauty
Only shop when you need to — don’t make it a hobby
Buy clothes when they are on sale and use catalogues to shop around for the best prices
Update your wardrobe with inexpensive accessories such as a new handbag, costume jewellery or a new pair of shoes
Cut back on visits to the hairdresser and colour your own hair
Turn your unwanted clothing into cash by selling it on ebay
Kids
Buy nappies in bulk from discount supermarkets
Consider borrowing from a toy library
Share kids’ hand-me-down clothes with friends and family
Stop pocket money once kids are old enough to have a part-time job
Ensure children over the age of 18 are contributing to the household expenses
Entertainment
Look for free or low-cost outings such as outdoor movies in the park, library activities and day-trips to the park or beach
Go to the movies on cheap Tuesday
Better still, have a movie night at home once a week complete with homemade popcorn
Instead of going out to restaurants, have a progressive dinner with your friends, where you move to a different house for each course
Look for 2-for-1 meal deals when dining out
Household
Shop for furniture and white goods at discount outlets
Buy kitchenware for less online
Purchase sheets, towels and appliances only when they are on sale
Buy laundry detergent in bulk
Have a garage sale to turn unwanted household items into cash
Dianne Charman is an Authorised Representative of AMP Financial Planning Pty Ltd, ABN 89 051 208 327, AFS Licence No. 232706. Any advice given is general only and has not taken into account your objectives, financial situation or needs. Because of this, before acting on any advice, you should consult a financial planner to consider how appropriate the advice is to your objectives, financial situation and needs.
To find your nearest AMP financial planner visit www.amp.com.au/findaplanner.
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