Finance / Five Simple Ways To Make Every Dollar Count
Five simple ways to make every dollar count
No need to turn the couch upside-down to find some extra change. Rather than counting every dollar, make every dollar count.
1
Pay Bills In Full
Paying bills in fortnightly or monthly instalments can be a good way to cope with financial stress without having to break the bank. However, most companies will offer a cheaper rate if you pay your bills in a lump sum. Squirrelling away smaller chunks of money into highinterest, low-fee savings account throughout the year is a great way to prepare you for those large bills so that you’ll be able to pay them in full without having to lose out on anything.
2
Consider Using Direct Debits
Setting up a direct debit takes the stress out of managing recurring bills by automating payments to a designated service provider. By paying either fixed or flexible amounts, your bills will always be paid on time, saving you from potential late fees. Businesses will also offer discounts or incentives to encourage you to set up a direct debit account, potentially giving you another avenue for saving money. However, you must check your bills before a withdrawal is made to make sure that they are correct and you have enough to cover them. Otherwise, you risk facing overdraft fees from the service provider and possibly your bank. Before you set up a direct debit, make sure you trust the business and know how to cancel it in case the need arises.
3
Take Regular Stock Of Your Fridge And Pantry
Whether it’s in the brand, excess items, impulse buys, or routine purchases, you’re sure to find your grocery bill riddled with hidden savings. Doing your best to use up everything you already have (particularly perishables) before shopping again is a great way to reduce your grocery bill. If there are still things you need, write down a list before you go out and stick to it.
APRIL - MAY 2022 ACTIVE RETIREES |
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A good way to cut down on buying too much food is to do a meal plan at the beginning of the week so you have a clear idea of what you need and how much. Preparing meals or perishables after a shop and freezing them is another great way to ensure your food lasts longer. And if nothing else, you can always freeze good old leftovers. Better still, there are usually coupons at the end of your receipt which can add to your savings in your next shop.
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