6 Easy Ways to Save an EXTRA $14,000 in a Year
- Make your own lunch
The average person spends around $15 per day on lunch when they buy it from a café or food court. That is almost $4,000 in a year. If you can make your own lunch, instead of going out for a Panini bring in a sandwich, or last nights leftovers.
- Cut back on Alcohol
This is a hard one but alcohol is expensive. I like to party with the best of them but if you can save $100 every night you go out by not drinking or drinking less then you will be well on your way to your travel savings target you could save as much as $5,000 over a year by cutting back on the booze.
- Cut back on coffee
Your average cup of coffee costs $3.50 – while I have not become as addicted as many former colleagues and friends I know this will be a hard one but the good news is there are substitutes. Instead of buying a café coffee 2 or 3 times a day settle for a morning coffee and try an instant for the afternoon – there is another saving of $900/year just by changing the way you drink coffee everyday.
- Cut back on shopping
Shopping is therapeutic for some of us, but do you really need a new shirt? Pair of shoes? Jeans? Suit? When you are saving for your trip, every little bit helps. Making your jeans last another few weeks, or using an old pair of shoes will help you reach your target sooner!
- Cut back your subscriptions (TV, Magazines, Newspapers)
We all love our cable TV and reading our favourite magazine, but cutting off your cable subscription or your magazine a few months before you go away can help. Netflix is a much cheaper option than cable, and has a great library to choose from. With many cable plans costing $100 per month this is a great way to cut back.
- Are you still going to the gym?
Getting fit before you travel is a focus for many would be overseas travellers but are you still going to the gym? Instead of paying for your health club/gym membership can you exercise outside the gym? Remember that once you start travelling you are not going to be able to duck into the gym to do a weights session – so why not start exercising in the park. Go for runs. Start doing push-ups, lunges, squats, crunches and other fitness activities that will help you stay fit while you are travelling. You could save ($20 per week)
- Open an online savings account
As long as you are making these changes to your lifestyle one of the most important things is to put the money away where you can’t touch it is going to help you and let you celebrate your progress as you see your balance tick over.
What are your top savings tips? Let me know in the comments!