Ten Steps to Cutting Everyday Costs

1. Have a garage sale. Clean out your wardrobes, kitchen cupboards, bookshelves and shed, and put aside anything you have outgrown, not worn or used for twelve months, that your children or boarder or the ex-owner left behind, and so on. You will get money in your pocket and a tidy house!
    
2. Save your coins. At the end of the day, put all your loose change in a jar. These $1 and $2 coins will quickly mount up to a sizeable amount that can be used to fill your car with petrol or pay an unexpected bill.
    
3. Reduce your bank charges. Do not use other bank’s ATMs as the charge is much higher than using your own, and do not exceed the number of ‘free’ transactions offered by your own bank. Check your bank statements for unauthorised debits and interest or fee overcharging – banks can and do make mistakes.
    
4. Take your own lunch. Making up a sandwich or taking leftovers to work, university or school will save, on average, $15 to $30 a week.
    
5. Cut up your credit card or at least limit the number of your cards to one to save on annual fees.
    
6. Shop wisely. Do your weekly food shopping at basic supermarkets that are able to keep prices down by not spending money on fancy shop fittings or neat shopping aisles. Substantial savings can be made by buying in bulk (share the cost with friends), buying generic or ‘no name’ brands, and buying ‘specials’. Avoid buying from your corner store or all-hours convenience stores as their prices for staple items are much higher.
    
7. Buy your clothes at bargain prices. Shop for clothes at markets, opportunity shops, recycled clothing shops and discount warehouses, or at seasonal sales. Don’t shop at random - know exactly what you need and what colour and style will match your existing wardrobe.
    
8. Do not waste water. Take short showers and wash clothes in cold water. Wash only when you have a full load. Ensure that there are no dripping taps or leaking pipes.
    
9. Do not waste power. Switch off appliances when not in use and switch off the lights in rooms not being used. Do not use clothes dryers unless absolutely necessary – fresh air is free! If you feel cold, put on an extra layer of warm clothing instead of turning the heater on or up; if you feel hot, take off a layer before turning air conditioning on. In winter, close curtains and blinds to keep warmth in; in summer, open them to let sunlight in. Monitor your bills as they come in, note any increase in usage; if you can pinpoint the reason/s for the increase, take action if possible to reduce your next bill.
    
10. Cook your own meals. Take-away and restaurant food takes a sizeable chunk out of any budget. If you currently buy four meals a week, try cutting back to three, then two. You will soon notice the extra money in your purse or wallet!

* These steps are discussed in more detail in Money Management for Women by Sheila Freeman and Helene Richards. Download your FREE chapter, "Breaking Up".

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