The top 10 ways we saved money in 2016

Published on December 7, 2016 1:53 am, by

Each year in December it’s fun to reflect on the year that’s been and what we have achieved throughout the year.

You may have made inroads in your health and fitness goals, taken that holiday that you’ve been saving for, purchased a house, or added to your family. Whatever it was, it can give a warm fuzzy feeling to look back and celebrate your achievements.

At MoneyBrilliant we like to take the time to look back on the things that we learnt about our money during the year. So many of the exciting things we want to do depends on our ability to buckle down and stash some of our hard-earned money away to contribute to these goals.

There are some things you can do to save an easy buck or two, but others take a bit of time and effort. We share the top 10 things that we did to save more or spend less:

Changed grocery shopping habits –  paid the annual delivery fee (currently $89) for Woolworths and shopped online through their catalogue and half price items on their website each week. Savings approx. $100 per week. Total savings = $5,000

Discovered a love for Catch of the Day – paid the annual delivery fee (currently $69) for Catch of the Day, purchased all our running shoes, dishwasher tablets, and protein bars through there saving more than 50% off retail price. Being part of a family of 5 who exercise frequently we saved more than $1,000 on running shoes alone. Total savings = $2,000

De-cluttered the house and made some money on Gumtree – eBay and Gumtree are great places to buy and sell. We got rid of stuff we don’t use around the house and made approx. $1,500. Well worth the effort!

Negotiated home loan interest rates – rang the bank and asked for an interest rate decrease. Received 0.25% off the rate on a $520,000 loan. Total savings = $1,300

Reducing the daily coffee habit from 2 to 1 – it’s a bit scary how much that saved. Total savings = $960

Used the Entertainment book, ALOT – we booked accommodation twice. Once in New Zealand for 4 nights and once in Melbourne for 6 nights, the Entertainment book saved more than $100 per night against the next cheapest rates found on, etc. Total savings = $1,000+

Changed health funds, one of the guys in the office used iSelect to compare his health fund insurance with others. He made the change and pays less in premiums while being able to claim more money back. Total savings (singles cover) = $500

Reviewed and switched energy providers – comparing electricity and gas providers is easy with the internet. We made the switch from AGL to Dodo saving approx. $100 per quarter. Total savings = $400

Just do it, the top tip from our Software Engineer extraordinaire is “just do it”. Open a savings account and transfer $5, $10, $20 or more per pay, he says it’s addictive watching it grow!

Use the MoneyBrilliant tool to track your budget and safe spending, just checking in once a day (or week) can help you be more mindful about your spending. It’s easier when you understand where your money is going, and where you can spend less. Visit our website to register or download our app from the App Store or Google Play now.

Related articles –
10 tips to being MoneyBrilliant
The 9 ways we saved in 2015
5 steps to start saving

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Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.

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