Saving money

Everyone talks about saving money but everyone does it differently and sees it differently.

Me, well I see that if I don’t spend it and it is in the bank account then its saved… I spend the least amount that I can so my bank account grows. This is me saving money.

Then there are the ones who do a great deal on a holiday plan. They ‘save’ a thousand dollars on the trip costs but then blow it on spending while away or buying clothes for the holiday. I guess this is saving for someone who doesn’t mind their bank balances going down but to me this is a fail.

We have a budget, yes sorry the dreaded ‘b’ word.. We allocate for everything we need, including pocket money and then what is left is savings. Remember that not everything we allocate for will use up the allocated amount so that left over is also savings because it hasn’t left the bank… everything builds that bank account for us.

We try to stick to our budget so we can pay for a mortgage and have holidays and have a good life. So far we have managed this. Our retirement is our ultimate goal. We want to retire without debt.

My methods are simple we do as much as we can to reduce what we have allocated to ourselves for certain things, eg groceries or health care etc… I regularly check our accounts with medical funds internet providers etc to see where I can reduce the cost. Any discounts are put into savings.

Any pay rises are automatic savings because we ignore them and stick to the budget. I actually missed a pay rise once and asked Hubby why he was getting a different pay into the account…oops

The other day I ordered my groceries online. I had a voucher for $15 and delivery was only $6 so we got our groceries delivered and got a discount of $9. To me this is a savings of $9 as that money is still in our bank account.

We have our groceries delivered or our heavy items delivered once every two months. $200 for the lot. The rest of the two months we have $200 to buy fruit and veg, bread and any specials we happen upon in this two months. I also buy gifts or the items to make gifts with this money. It works for us.

 

total + delivery fee – discount = $198.97 for two months

We find this saves us money because

  • we don’t pay for parking, fuel or fare on public transport to the store. We pay $6 delivery, which is eliminated anyway by the $15 voucher we get from the store to buy from them. For me to go to the store and back on public transport is $9, shopping online was a no brainer.
  • Extra groceries we pick up when we need them when passing grocery stores in the normal course of our daily activities eg Hubby on way home from work and me when I am out walking for exercise.
  • We buy what we need and we make do. I am learning to cook so far it has taken a lot of decades but I can now say I am finally learning and I haven’t killed anyone yet, well not killed but possibly made sick but they didn’t die..  Rarely do we deviate except maybe Xmas time when we will buy a bit of junk food to make ourselves sick on.
  • We have a limited amount of money so we resist impulse buying. We know what we want and buy cheaply. If we waste it on an impulse buy that means we go without something we may have needed, at least until the next pay cycle.

Its great to get a bargain and its fun and why would I begrudge anyone this but please do not call it a savings if you haven’t allocated that spend into the budget and the discount is kept in your bank account… eg grocery budget $200, spend $150 because of specials = savings only if that $50 is not then spent on something else…

How are you at saving money?

 

 

 

 

 

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