Top 10 Ways to Reduce Household Costs

Top 10 Ways to Beat the Rising Fuel Costs, Grocery Costs and Interest Rate Rises

Household Budgeting expert Michelle House of www.secretbudget.net believes Queenslanders shouldn’t take the new interest rate rise lying down. She’s compiled ten of her best budgeting tips to help consumers take a
proactive approach to their personal finances.
“The key to keeping on top of your finances is to keep track of your money, use cash, create a budget and
plan everything,” says Michelle. “Not only will you feel more positive and in control, but you’ll be setting up
a positive way of managing of money that will stay with you for years to come.”

Tip 1: Avoid impulse spending and track your spending.

  • The first step is adopting a new attitude to money. Money is a precious, finite resource. So start a budget and review it and your spending every month at a minimum.
  • Using cash, rather than credit cards or EFTPOS, is a great way to ‘see’ your money. Each week, withdraw your budgeted money for the week and allocate your cash for fuel, groceries, public transport etc. Use a budgeting tool like the Personal Budget Organiser to keep you in check (see http://www.mypbo.com.au).
  • Have all committed payments taken directly out of your pay and put into a high interest earning account.

Tip 2: Eat at home more.

  • When tracking your spending, you will see how many times you are eating out each month. Try to treat yourself only once a week.
  • Make your lunch or take leftovers to work. When cooking your evening meal, cook extra and freeze it, for your lunches. Some leftovers are great put in puff pastry parcels and are easily transportable for lunch.
  • Eat out at local clubs, like local sports clubs, RSLs and golf clubs. You can usually get a huge and nutritious dinner for a family of four, for under $50. Some even have free kids clubs!
  • Pack a picnic dinner and take the family out for an early dinner, evening stroll and/or play in the park.

to view the many more of the tips click here!

THE HARD WORD
“If you are in real financial trouble or need advice on how to tackle your current financial situation, please
seek professional financial advice from a financial counsellor as soon as possible,” says Michelle House, of
www.secretbudget.net.

For more great budgeting tips and information, check out www.secretbudget.net

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One response

1 08 2008
Andrew

Tip 7 – Also there are credit cards that give cash-back such as Capital One and Amex (Blue & Platinum), so if you pay off the whole balance each month, it’s a little earner in addition to being convenient – no need to carry much cash, one payment per month at a time you can choose, keeps money in your own bank a/c (earning interest if you’re organised enough).

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