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Define your budget

Define your budget
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Saving $20 a day can be as basic as sitting down and crafting a realistic budget. “Our society has done a poor job at teaching people how to save as well as construct a real budget and stick to it,” says Tom Graneau, author of Pennies to Power. He asserts that our money problems can be traced to a lack of discipline rather than a lack of funds. Graneau recommends putting away 15 to 20 per cent of your pay every time you’re paid, making it unlikely you’ll have that extra $20 lying around to spend on something frivolous.

Consign your clothes

Consign your clothes
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When you’ve grown bored with a once-beloved item of clothing, consider its condition. If you feel it’s too good to be put in a charity bin, a local consignment shop or online consignment space could be the perfect place to score some extra cash. “Selling clothes through consignment is a great way to earn money,” says consignment website co-founder Brielle Buchberg.

Make your own coffee

Make your own coffee
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This sounds way too simple but your daily café runs seriously add up, especially if you like the fancy stuff. Once you factor in a café latte, perhaps an overpriced pastry, and a second coffee run later in the day, by the end of the week you have seriously blown your budget. Become a DIY barista and make your own concoctions.

Stretch your dollar even further. Discover cheap ways to make stuff last longer.

Say bye to gym memberships

Say bye to gym memberships
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Many of us belong to a fitness studio, and those memberships don’t come cheap. If you use them regularly, fine, but it not you could try exercising with the help of a Fitness app instead. Look for one that offers live classes so, even though you are exercising in the privacy of your own home, you can still get that group camaraderie. It will cost you a fraction of the price of a gym membership.

Discover other money-saving tips that can mislead you.

Get paid for your opinion

Get paid for your opinion
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As a consumer, your thoughts are incredibly valuable to marketing companies. So much so that you can often find paid survey opportunities when you reveal your purchasing habits and how you decide to buy items.

Mark two no-spend weeks on the calendar

Mark two no-spend weeks on the calendar
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Depending on your consumer habits, this could be a real exercise in frugality. “Other than petrol in your car and groceries in your fridge, try at least two no-spend weeks each month where you don’t pay for any extras (like that new tech gadget you don’t need),” advises Jill Caponera, a Consumer Savings Expert. “You’d be surprised how much extra money you’ll save when you’re not constantly spending it.

Now check out these almost effortless ways to save.

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Experience your city… for free

Experience your city… for free
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Boredom can lead to unnecessary spending, yet finding inexpensive entertainment can feel impossible. However, there are likely dozens of fun and free events either in your city or a nearby destination that can save you money while offering up a unique experience you might never have otherwise considered. Type keywords like ‘free events’ in your search engine along with the name of your city or town to discover what’s happening nearby.

Don’t be afraid to borrow

Don’t be afraid to borrow
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If you’re a good neighbour, you likely have trustworthy relationships with the folks who live nearby. Before you go out and purchase, say, a power tool or a leaf blower that you may only use once a year, chat to your neighbours to see if they have the item available to borrow. The savings add up and you’re reducing waste at the same time. It’s a win-win.

Keep your budgeting style old school

Keep your budgeting style old school
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Money-saving apps are great, but they aren’t for everyone. Caponera suggests using the good old ‘envelope system’ if you prefer to keep your cash in plain sight. “Set aside a specific amount of money in individual envelopes to cover different categories of your budget,” she says. “If you’ve budgeted $400 a month for groceries, take that amount out of your bank account at the beginning of the month and put the cash in a labelled envelope. This will help you to keep your spending in check and not dip into extra money that could be saved for the future.”

Another way to save is to be more savvy when shopping for groceries. Check out these supermarket tricks you probably still fall for.

When you treat yourself, create a savings ‘match’

When you treat yourself, create a savings ‘match’
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This idea is truly genius. According to a campaign run by a non-profit organisation, you should match the cost of what they describe as ‘non-essential indulgence’ in savings. This means that if you really want that giant cookie from the coffee shop, you should match its cost in your savings account (or a labelled envelope in cash). Think of it this way, if you can’t afford to save the matching amount, you can’t afford the treat either.

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