Still, it can feel like you’re needlessly blowing cash on things you don’t need – or on the flipside, being so stingy to save that you’re sacrificing, well, fun.
But there is a balance to be struck, and way to save and live a life you actually enjoy. Adele Martin, an expert in saving money, tells Mamamia there are plenty of painless ways to save – and earn a little extra – cash.
First things first, try to boost your income.
Adele’s business as a Money Mentor sees her helping people to get their finances in order. And while she has plenty of saving advice, her first tip to clients is usually to find ways they can boost their income. Because more money = more money.
“I think as women we just don’t ask for that pay rise. One of the things I suggest… go to your boss, make sure they’re aware of everything you’ve been doing for them. And if they say no, make sure you have a time and date that it’s going to be reviewed.”
Asking for a pay rise may not be on the cards, and even if it is, there are still more ways you can easily increase your cash flow, says Adele.
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“I have a Facebook group called the ‘Savings Squad’ and inside there’s a lot of people creating side-hustles. Some people have earring businesses, candle businesses, (or sell) salt scrubs. And that’s been able to generate anything from $5000-$10,000 a year.”
“Another one for renters to ask is, ‘Can I get extra income while by Airbnb-ing the spare room either permanently or while I go on holidays?'”
Of course, to do so you’ll have to ask permission from your landlord.
Pool with your housemates – or family members.
The advantage of a sharehouse is that you can also share the costs of certain things to make your money go further, says Adele.
“If you’ve got housemates, maybe you can pool your money and buy in bulk to save money, shopping at places like Costco or a wholesale butchers where you can buy meat in bulk.”
And if you’re renting by yourself or with a partner, you could always look to your friends or family to go in with.
Offer to spruce up the place for a discount.
“If you’re a little bit handy, and want to do some painting to the property, sometimes your landlord will reduce your rent,” Adele says.
“Painting or maybe doing the lawn mowing or putting a fence up.”
Adele says this trick has worked for many people she knows and recommends approaching the landlord or real estate agent and making the offer to see what rental discount they come up with.
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Opt for nights in over nights out.
We’re not talking lounging on the couch watching Netflix instead of going out for a nice meal with friends (although that does sound like a nice idea.) Actually, Adele suggests making your nights in just as special as your nights out.