There’s no point to living frugally if you’re not going to see some benefit instantly especially when it comes to money. Living a frugal life means so much more than that but it’s one of the biggest reasons I have for this kind of lifestyle. I tell myself I can buy it new and spend as little or as much as I want. But what I prefer to do is buy it secondhand, get it for free, make it myself with things I already have and save money for the more important things in life like experiences. I want to share how to start saving over $13,000 per year.
Magazines
Before kids I used to buy the latest fashion magazines, food, lifestyle, decorating and other magazines without even thinking about it. For the last few years I don’t buy them anymore. I borrow them from the library or buy them secondhand from the thrift store for about 50 cents each. If I was to buy a food magazine and a lifestyle magazine every week, I’d be spending close to $15. Years ago Mum used to buy a woman’s magazine but back in those days they were actually full of recipes, tips, patterns and other useful information. Now they’re only full of celebrity news. Over the course of a year, you could potentially save $780. That’s a week’s accommodation at the beach for us. Money much better spent in my opinion.
Total saved: $15 per week | $780 per year
Takeaway coffee
I’m a big coffee drinker and I love nothing more than going out with the girls for morning tea. I still do that on the odd occasion but as far as buying a takeaway coffee when I’m doing the shopping or when I’m out and about, I just don’t do that anymore. When I used to work, before kids, I bought at least 2 takeaway coffees per day. At an average of $5 per coffee (especially in the city) that’s money that could be better spent on making coffee at home or work, whether that’s instant or brewing your own from beans. Coffee makers are really cheap to buy from thrift stores. If you were to buy 2 coffees a day every day of the week, you could spend that money on an overseas trip or put towards a major renovation in the home.
Total saved: $70 per week | $3,640 per year
Trip to the Cinema
One thing that makes my blood boil is the price that the cinemas charge for snacks. I just can’t believe people are so willing to pay those prices, like it’s okay. There should be some major enquiry into it. I can’t justify it no matter how hard I think about it. Unless it’s school holidays or date night, we don’t go to the cinema. We watch a movie on TV or DVD at home and make our own snacks or allow for a few special treats in my fortnightly shopping budget. Your average spend of $50 for a family of four (2A @ $9.50 ea + 2C @ $5.50 ea = $30 + snacks @ $20 = $50) and you go once a month, you could save quite a bit of money. Even when we do go to the cinema, we always take snacks from home.
Total saved: $50 per month | $600 per year
Takeaway Meals
One of the quickest ways to save money each week is to not buy takeaway meals. If you want to allow for it in your budget, then sure. What I do is have a few stand by ingredients or ready made meals partly prepared (like pizza dough or frozen chicken tenderloins) so I can put together a meal really quickly when we’re late home or I’m sick or the kids are sick. I refuse to set foot in McDonalds anymore. I can’t justify the price, at all, for the quality of the food that is sold. To me, it’s atrocious. I really feel for those ‘kids’ making that rubbish and hope they learn to cook once they’ve grown up. (Sorry, ranty pants on!)
I always have hamburger buns in the freezer and even if I don’t have hamburger patties made or frozen, we can make bacon and egg burgers, chicken or fish burgers. You can get family meal deals sometimes for $20 from say McDonalds but my daughter won’t eat it so it would cost us at least $40. I cringe when I think of what I could buy at the supermarket for $40. If you buy takeaway at least once a week, this is another way you could quite easily save that money.
Total saved: $40 per week | $2,080
Amusement Parks etc
I have never bought amusement park tickets for my family. Except for maybe Seaworld, I hate them. I hate the rides and could think of better ways to spend my time than standing in a queue for 2 hours waiting to go on a ride that scares the living daylights out of me. I know that probably sounds a bit old fashioned but that’s just me. My kids are lucky in a way that they haven’t missed out on going to these places because their Dad buys these annual passes but at $99 each (x 4 for our family), I could think of plenty of other ‘free’ ways to enjoy time with my family like picnics, days at the beach, a trip to the park, catching a train to the city. All of these amusement parks, fun centres (like trampolining places etc) are all so expensive and don’t even talk about if they sell food there.
I have had coupons in the past that I’ve taken the kids to some of these so called ‘fun centres’ so it hasn’t cost that much but they are special treats for during the school holidays. I might sound like a mean Mum but my kids don’t seem to mind. It makes them appreciate it more I think when they do go on the odd occasion than expecting to go somewhere every weekend. I did buy the children a ticket ($20 each) to the Ekka (our annual show/fair) which I gave to them for a Christmas present. That was the first time they’ve been and the last. They’ve realised just how much of a waste of money it is now and it’s nothing like how it was when I was a child.
Total saved: $396 per year
Buying clothes & shoes
Buying clothes is one of those things that I think we all can buy too much of. I admit, I’m a little guilty of this even though all the clothes I buy are secondhand from the thrift store. If I’m going there to buy something in particular, I haven’t been able to walk past the clothes racks just to see what’s available. I have picked up some wonderful bargains but in all honesty, I haven’t needed them. The total spend might only be $10 but if you’re doing that with full priced clothes at either a discount store or a major chain fashion boutique, your weekly spend might be more like $100. That could be for clothes for any member of the family. It’s easy to do.
If you’re not budgeting for this, you think it’s a bargain and if you don’t need it, you could quite possibly be saving $100 on unnecessary clothing purchases. Allow for some money in your budget to update underwear as required. If children are having growth spurts but consider buying secondhand or asking friends with children older than yours for hand-me-downs.
Total saved: $5,200 per year
Buying Books
I am guilty of this when it comes to recipe books. Over the years I’ve purchased quite a few and don’t even hardly refer to them. I think of them more as ‘coffee table’ books or nice books to look at. My every day, frugal cookbooks are what I refer to mostly or my online recipes I’ve saved in Pinterest. I don’t buy them anymore. I might borrow them from the library and if its one that I simply couldn’t live without, I’ll drop a few hints to the husband to purchase it for me for Christmas. My cookbook shelves are bursting at the seams so I don’t think I really need anymore.
The same could apply to novels and other books. Unless it’s going to be read, over and over again, I think borrowing it from the library or buying secondhand from thrift stores or book fairs is the better way to go. If you bought a new book every week at say $20, that’s yet another way you could save.
Total saved: $1,040 per year
Total saved on these things alone: $13,736 per year
There are plenty more ways to cut back and save. It could be walking more and using the car less. It could be downsizing your home or car and saving the money you make. Make more from scratch like food or cleaning supplies. They are all small steps you can take to having that little bit leftover. Everyone has different things they’re saving for. It could be for a deposit on a home, a new car, an overseas trip, investing, donating, a good night out, a family vacation, whatever. I’d rather make a small sacrifice with these few things than miss out on doing the things I’d prefer to be doing in the long run.
Disclaimer: The prices in this post are in Australian dollars and should be used as a guide only. Family sizes differ also this post could be applied to single people. This post is my opinion on possible ways to save money over the course of 12 months should you be wishing to save for something in particular.
