Save Money Make Money

Save Money by Exercising in Your Neighbourhood

2008-09-14T13:24:00.004+10:00

Who says you need to join a gym to keep fit and healthy? With fitness centres and gyms springing up at every convenient locale near where you work, shop and dine, it's difficult not to feel curious and enthused about getting your yearly membership to get that striking eye-grabbing body you've always dreamed especially when we're constantly reminded of how we should look. Don't get me wrong, I'm not talking down the media-influenced self-esteem drain that 'society' has imposed onto us, but I am saying that you can be trim and taut just by exercising around your neighbourhood or workplace, saving you many hundreds of your hard-earned money each year in gym membership fees.

I've known too many cases of friends and colleagues having joined a gym thinking that the expensive monthly fees would entice them to exercise regularly only to find that the gym owner's bank balance is the only thing getting healthy. If this sounds all too familiar, then seriously consider resigning your membership and signing up to your immediate surrounds to get in shape.

Here are some tips:

1) Going for a walk or run around the neighbourhood or your workplace is so much more stimulating and enjoyable than doing the rounds on the treadmill staring blankly at a TV or some random's behind. Not only is your environment constantly shifting when you're walking or running in a natural environment, but you're also getting fresh air.

2) Rather than going to gym classes, why not join your local sports club playing your favourite team sports for a significantly smaller fee than your gym membership. Not only are you saving money, but you're also getting the opportunity to interact with new people.

3) Look to use the stairs as often as possible when at work rather than the elevator. You'll be incorporating exercise with your day to day activities making it a win-win situation. You'll turn up to your next meeting more energised and perhaps glowing a little.

4) If you're already a regular gym buff, why not invest in purchasing your own gym equipment, secondhand where possible to save you that extra bit of money. It might be a little bit more of an outlay upfront than a gym membership, but over a couple of years, you'd have saved in fees what you'd invested in your own gym equipment.

5) If you're fortunate to live near a large park, why not make use of the running or cycling tracks there? There's likely to be many other locals exercising too, so it's like one big free outdoor gym. You could even take on your mates in a regular game of football in the green open spaces.

6) The same can be said if you live near a beach or bushwalking trails. Get your heart pumping with the resistance of the sand or water, or tackle the taxing terrain to the sounds of wildlife.

7) Have a swim at your local swimming centre. Casual entry is a heck of a lot cheaper than a gym's.

There are many cost saving ways to keep fit or get into shape without a gym or fitness centre in sight. Not only are you saving money by not paying gym membership, but the other benefits of using your neighbourhood as your “gym” including the fresh air, changing surrounds, improved sense of community and the opportunity to socialise also promotes your general wellbeing. Now that sounds like an excellent deal to me.

Save Money by Using Less Water When You Shower

2008-01-12T15:50:00.000+11:00

Water restrictions help us save our precious natural drinking water supply, but at the same time, also helps us reduce the amount of money we spend on water particularly around the house. Did you know that the majority of water usage is attributed to households? We have all been told to have short showers lasting no longer than 2 minutes in length. But what if we turned it around and said, hey, let's take our time in the shower, but turn off the water when we don't actually need to use it.

It makes sense does it not? Why have the water on in the shower running for two minutes, when you probably don't even need it for the whole two minutes? Could we not potentially cutdown the amount of water going down the drain simply by switching off the shower when you are shampooing, conditioning and soaping? That way, we have ample time to bathe properly without the clock ticking down on you.

Then when you actually need to rinse, turn on the water again, and personally, I think I end up using less than two minutes of water all up per shower doing it this way. That sounds like a win-win-win to me... save water, take your time bathing yourself and save money!

Feed Your Mind by Attending a Free Seminar

2007-05-11T22:10:00.000+10:00

I woke up this morning at 11am to a bright and beautiful morning feeling totally refreshed. The sun was shining through the window and as I opened the blinds, I gazed up to the clear blue sky and felt like I hadn't a single care in the world. At this moment, I was reminded about why I had set the goal of achieving financial freedom in the first place. This was inspiring enough for me to also be reminded that financial freedom is built on the foundations of financial education and self-improvement. I believe that the more financial literate you are, the sooner you will achieve financial freedom.

Continually broadening your financial literacy is therefore very important and can be achieved by attending free seminars on financial topics. These seminars may be about property investing, derivatives and sharetrading, financial planning, and general self-improvement topics. There are an abundance of these seminars being held in your city all through the year and are usually run by companies that are marketing their services or products.

Granted, these seminars may have a strong focus on why you should sign up to their services, but beyond that are the opportunities to learn about the different ways in which you can achieve financial freedom, improve your knowledge about personal success and opportunities to network with other like-minded attendees.

Sometimes you will stumble across seminars that are just gems where you learn substantial amounts of information and just leave feeling inspired and more motivated to achieve your goals. One such seminar is Christopher Howard's 'Breakthrough to Success' weekend. Chris is such an exceptional and passionate speaker. That alone makes attending his 3-day free seminar well worth your time if for nothing else you learn what well-crafted public speaking is about. You can find out more about this seminar or check out his book Turning Passions Into Profits: Three Steps to Wealth and Power.

Other seminars can be nothing more than a salespitch but the beauty is that they are free and you can leave whenever you feel. Never feel obligated to stay for the full two or so hours and absolutely never feel obligated to purchase any services or products if you don't wish to. In fact, even if you do like what the service or product they were telling you about, I would suggest holding off from buying it just so you have a chance to settle and think it through. The great thing is that if the product or service is really worth investing in, the company would hold other seminars through the year where you would be given the oppportunity to take advantage of the discounted pricing only available to those who are attending that seminar.

If a seminar happens to be a total waste of time, well at least you'd get a free pen and notepad out of it and you can certainly cross that service or product off your list.

Ways to find out about free seminars:

● Signup to email mailing lists of people or organisations that deal in your area of interest. Eg. If you like property investing, you may signup to a mailing list of a property investing or real estate website.
● Keep an eye out for ads in newspapers and magazines for free seminars.
● Keep an eye out for ads on websites you visit particularly those about your area of interest.

Save Money by Reusing Gift Wrap

2007-03-11T17:13:00.000+11:00

Have you ever been at someone's birthday party or celebration and noticed they peel away the sticky tape and gift wrap so achingly carefully from their presents that you just yawn in anticipation of what's inside? Well this person might know something or two about saving money, and they'd probably be thinking that this celebration is a double-whammy. Not only do they get great gifts, but they also get a free supply of gift wrap next time they have to wrap a present for someone else. All niceties aside, what could be better than a free stash of wrapping paper or shiny foil and pre-curled ribbons?

Now if you're like me, I believe gift wrap is something of an unnecessary expense particularly if you've still got perfectly good gift wrap you've so skilfully extracted from opening your presents. The only time I'd ever personally buy gift wrap is if I don't have any on me or I don't have any large enough for the present I need to wrap.

Let's think about this for a moment. A good quality roll of gift wrap would cost at least $5 with the premium quality ones around $10. If you do buy them from a discount shop of some sort, you could probably get it for $2 or $3. But in addition to the gift wrap, you also need to embellish the present with a ribbon or a faux bow or two just so it looks complete. These things aren't cheap either! A spindle of wrapping ribbon would also cost around $3.

So if you were to just wrap one present, that could cost you in arounds $10 in itself! And given that the friend you're going to give this present to would only tear away and discard the wrapping paper and ribbons you so craftily enclosed the present with, it sounds like $10 down the drain to me! Here's hoping the gift you bought them is worth at least twice the cost of the gift wrapping effort!

Now wouldn't it be better if you'd reused gift wrap you got from someone else in this situation? Of course you don't want to look like you actually reused the gift wrap so my advice is to have firstly carefully removed the wrapping with as much surgical precision as possible. Doing so will provide you with an excellent starting point for reusing the gift wrap.

The second step is to store the gift wrap by refolding it along it's original foldlines if it has some or carefully rolling it up around any existing long cylindrical core you have. This way you don't introduce any unnecessary creases.

When it comes to reusing the gift wrap, be sure to trim off any unsightly tears or areas where the gift wrap's print had lifted off when you removed the sticky tape previously. There may be some unsightly areas you just can't get rid off so try to position those away from the most visible parts of the wrapping. A tip is to try to position a ribbon or attach the gift card over the unsightly area.

Lastly and most importantly, be sure not to use the gift wrap for the person you originally got it from. Otherwise it could make for a very uncomfortable party which is obviously not what we're after here.

It certainly cannot be denied that reusing gift wrap is a fantastic way to save money. Not only are you making the best use of your money but you're also doing your part for the environment through your recycling efforts. Sounds like a win-win situation to me!

How to Save Money at the Cinemas

2007-02-24T22:23:00.000+11:00

Saving money doesn't mean having to cut out all the fun in your life. It's simply about making the effort to be a little bit smarter about how you spend your money and practising a little self-restraint.

One of my favourite pastimes is to enjoy a good movie at the cinemas. These days however, your average ticket price is around $15 for an adult. If each time you went to the cinema with a friend and bought popcorn and a drink each, this could easily blow your budget out to about $60 between the both of you. Just imagine if you went with your family! In my honest opinion, that is way more than what I'd like to pay for an afternoon out at the cinemas. Luckily, there are a few ways you can save money at the cinemas and still have a good time without having to worry about how much money you'll be spending.

Save Money by Not Buying Food or Drink from the Cinema's Candy Bar

Cinema owners are becoming cleverer with the way they design cinema complexes. My local cinema has been designed in such a way that the ticket counter is also the candy bar. This entices people to buy the food and drinks on offer at the same time you buy your tickets because of the convenience and the barrage of delectable candies, ice creams, popcorn and soft drinks on enticing displays. But be strong. Resist the urge to splurge on the super-sized tub of buttered salty popcorn and the large Coke.

The alternative is to buy the soft drink from the supermarket before you get to the cinema and sneak it in. They honestly can't ask to check your bags nor ask you to dispose of your externally purchased drink.

Furthermore, if you really want popcorn, buy a small tub and share it between your group of friends or family. Can you honestly say that you've ever finished an entire tub of popcorn or enjoy drowning out the dialogue of the movie with the incessant crunching? Being smarter about the food and drink alone can save you a heap of money at the cinemas.

Save Money by Planning to Go to the Cinema on “Tight-Arse” Tuesdays

Every Tuesday at cinemas in Sydney, tickets are sold at one flat rate of around $8. This is cheaper than the normal ticket price for a child and there is no restriction on which movie you wish to see so long as it is on the Tuesday you have purchased the ticket. This means you can catch a recently released film at almost 50 percent off the normal price! What a great way to save money at the cinemas. That being said, please check with your local cinema operator for the day they offer discounted tickets as it may differ between states and operators.

Save Money by Buying Cinema Tickets in Bulk

We know that buying toilet paper in bulk will save you a good amount of money. The same also applies to buying cinema tickets in bulk. This is a particularly useful strategy if you are a regular movie buff or attend the cinema in a large group.

Cinemas often give a discount on books of at least 10 tickets with each ticket being about $10 to $11 each. These are normally unrestricted tickets and can be used at any time for any movie. The only downside is that you have to use the tickets within a given timeframe which is usually within a year of purchasing the tickets.

Save Money by Buying Cinema Tickets From Your Work's Social Club

This strategy is useful if you don't go the cinemas frequently but still want to save money when you do. If the company you work for has an employees' social club, check if they offer discounted cinema tickets. If you work for a sizeable company, it's often the case that they offer this benefit. Because the social club caters for so many employees, it's able to purchase hundreds if not thousands of cinema tickets at once at a good price.

Where I work, I'm able to purchase unrestricted tickets for $10 each. This price will of course vary depending on your company and the downside is that they may not necessarily cater for the cinema operator you want. Apart from your workplace, you may also be a member of an association, union or club that also provides similar discounted ticket prices. Find out about their offers and use them to your advantage.

Save Money by Planning to Watch a Movie When it is On Sale

You can save a lot of money by resisting the temptation of watching a movie in the first few weeks of it being released. As a movie gets older or is no longer attracting that many cinema-goers, cinema operators will often select that movie to be “on sale” during a particular week. When a movie is on sale, the ticket price for that movie will be on offer for $8 or $9 for the week depending on the operator.

To become aware of and obtain these movie sales, you must subscribe to the cinema's weekly email newsletter. Subscription to the newsletters for Hoyts and Greater Union cinemas are free of charge so it's a fantastic opportunity to save money at the cinemas. The only downside is that you can only purchase up to two discounted tickets per newsletter subscription. The simple way to get around this is to ask each of your friends to also sign up to the newsletters if they're as smart with their money as you are.

As you can see, there are several strategies to save money when you go to the cinemas. These strategies are really about planning ahead and making use of all the opportunities for a more affordable outing to the cinemas.

Deposit Your Savings into a High-Interest Bearing Account

2007-02-18T13:11:00.000+11:00

Managing your money can be broken down into two key aspects. The first aspect is about how you can more efficiently use your money when you do spend it, and the second aspect is about how to grow the money you've saved. Most of the other articles presented on this website have dealt with ideas that cover the first aspect. This article will begin to explore the second aspect.

If you have put into practice some of the money saving ideas presented, you would have undoubtedly begun to notice that your bank balance is looking healthier than before. Now that you're beginning to save a good portion of your income, why not consider placing some of your savings into a high-interest bearing savings account.

What is a high-interest bearing savings account you ask? It certainly is a bit of a mouthful, but basically what it is is that it's like your current regular savings account, except it earns you a much higher rate of interest on your savings. In other words, the money sitting in your regular savings account could be earning you a lot more money if you place it into one of these high-interest bearing accounts.

Why would you want to deposit money into a high-interest bearing savings account? There are a few good reasons:

● Your savings will grow faster than in a regular savings account
● Having a second account can help to alleviate any temptations you have to spend what you have saved so far
● It can also help you keep track of how much money you have saved for a particular goal
● Many high-interest bearing savings accounts tend to have little or no fees involved so you end up keeping more of your savings
● It is easy to understand compared to other investment opportunities

There are however some disadvantages of having a high-interest bearing savings account such as:

● Some of these accounts relying upon being 'linked' to a regular savings account so you can only deposit and withdraw funds to and from that regular savings account
● Not being able to withdraw cash directly from them (but I argue that this is a good thing). This isn't always necessarily the case for all products however.
● For some of the accounts with the highest interest rates in the market, the only way you can transact on the account is through the Internet. This is how the financial institution keeps their costs down to provide you with a high interest rate.
● Some accounts are being offered by less well-known financial institutions rather than the major banks
● Having to consider how much money you need to keep in your regular savings account for your everyday expenses, and how much you can put away into the high-interest bearing account

In my opinion, the benefits far outweigh the disadvantages. To me, most of the disadvantages above are about you becoming more disciplined with how you manage your money. That can only be a good thing.

If you live in Australia, there is a fantastic website at infochoice.com.au that provides a comprehensive listing of all the high-interest bearing accounts available to Australians. There's even a tool that helps you compare each account's features so you can easily determine which one is best for your needs.

Over the years, I've personally been with ING Direct's Online Savings Maximiser and Community First's EasyStreet EasySaver products and have found both to be solid products. From my experience, a high-interest bearing savings account is certainly one of the easiest ways to help grow your money faster.

*Please note that this article provides only general information and should not be considered as financial advice in any way.

Save Money Buying Groceries Before a Public Holiday

2007-02-12T20:58:00.000+11:00

There are many ways of saving money on your groceries. Using coupons and comparing prices between rival major supermarkets are a couple of ways, but did you know that you can also save plenty of money just by planning to buy some of your groceries the very night before a public holiday?

You see, major retailers such as Coles and Woolworths close on major public holidays such as Good Friday and Christmas Day. To consumers of these supermarkets, public holidays are a God-send in more than one way. Coles and Woolworths produce or stock large amounts of perishable items each day such as cakes, breads, and deli items such as fresh pastas, salads and roast chickens.

As you know, perishable items have a limited shelf-life and rather than disposing of unsold items, Coles and Woolworths place these items at fire sale prices just prior to closing up shop the night before a public holiday. This is a win-win situation because the supermarkets rake in some last minute takings, and we the consumers go home with greatly discounted items.

The best time to go is about 30 to 60 minutes before the closing time. The nearer you go to the closing time the better.

Granted, there may be limited perishable items remaining because everyone else has bought during the day in a last minute frenzy for the impending festivities. Also, the supermarkets stop producing these goods en masse because of the burgeoning public holiday. But there are certainly still bargains to be had. Often, supermarket managers will slash prices every 10 minutes or so on remaining items up until closing time.

In past public holiday eves, I have purchased items including:

● A full 2 litre tub of pasta salad for just $4
● Whole roast chickens for $5 (still warm)
● Chocolate mudcakes for $2
● Packs of hot cross buns for just $1

You might question how fresh some of these items are, but to be honest, so long as they haven't reached their expiry dates, and were stored properly either on refrigerated shelving or temperature-controlled displays, then I don't have a problem with it.

So next time a public holiday comes around and you're in need of a little more food perhaps for a social gathering the next day or just to feed a big family, consider doing some of your grocery shopping just before closing time at your local major supermarket. I'm in no doubt you'll save plenty of money on a range of perishable items that would normally cost at least twice their fire sale prices!

Being Rich Doesn't Always Mean You Are Wealthy

2007-02-03T18:11:00.000+11:00

To be truly wealthy is to have money that lasts forever. This may be a blunt statement, but suddenly coming across a large sum of money does not necessarily mean you have become a wealthy person.

To be wealthy is a state of mind. A person with a wealthy mindset may not necessarily be financially rich just yet but will be soon enough. On the other hand, a rich person without a wealthy mindset will squander the money very quickly.

This could not be more true than those who win the lottery. After a few years, these lottery winners no longer possess the millions they came across so suddenly. An amount of money that should have lasted for at least a generation has been fleeted away.

Case in point is UK lottery winner Michael Carroll who won £10 million in 2002 at the age of 19. It is reported that he had lost all his winnings 18 months later on things such as holiday homes, luxury cars, drugs, parties, jewellery and famously, a rural mansion used none other than as a dodgem car racetrack for his new friends.

What is even sadder are cases of other lottery winners that end up with greater financial debt after their windfalls dry up than they had to begin. Some have even declared bankruptcy to be back where they had started – with nothing.

From this, it is fair to say that being rich does not necessarily mean you are wealthy. A truly wealthy person would still possess the majority of the millions of dollars (if not more) because a wealthy person understands the fundamentals of how to manage their money.

It can even be said that a wealthy person has a good relationship with money. Money sticks with them rather than repel away from them. It is through this understanding of how to manage money that dictates how long you will remain rich, or how soon you will become rich.

A wealthy person knows to save their money. With the money that is saved, they firstly spend on things that earn them an income such as quality businesses, real estate and shares. In other words, the money a wealthy person retains is used to further create more money. The money they earn from their investments is then used to fund a rich lifestyle.

On the contrary, for a (temporarily) rich person that does not have a wealthy mindset, they would have chosen to firstly spend on material things and eventually have no money left.

However, nobody is born with a wealthy mindset and it certainly cannot be won. Importantly, a wealthy mindset is learnt. If Michael Carroll had a wealthy mindset when he won the lottery, he would likely still be living very nicely with most of his winnings intact.

If a wealthy individual were to lose all their money today, it is likely that within a number of years, they would be back to a relatively comfortable financial position. Individuals such as Donald Trump, Martha Stewart and Sir Richard Branson have faced financial setbacks in their lives but were able to rebuild their financial positions because each has a wealthy mindset. These individuals firstly focussed on redeveloping their businesses rather than wasting their remaining fortunes on frivolous items and lifestyle decisions. Today, they enjoy life’s luxuries because of their wealthy mindset.

Michael Carroll clearly demonstrates that being rich does not always mean you are wealthy. On the other hand, having a wealthy mindset certainly gives you a greater chance at being rich because you understand how to manage and appreciate money. Each of us can learn to be wealthy. By developing this wealthy mindset, you will ultimately attract more money to you than repel it. Only then can you be rich and truly wealthy.

If you are making the commitment to develop a wealthy mindset today, I recommend you begin by reading Rich Dad, Poor Dad by Robert Kiyosaki

Save Money by Borrowing from the Library

2007-01-29T21:03:00.000+11:00

Remember when you used to visit the library when you were a kid? Perhaps it's just me, but I loved to comb the shelves whether it be the fiction or non-fiction sections. I'd always stumble across an interesting topic and could just browse the books for hours. In those days, my local library only stocked books, volumes of encyclopedias, newspapers and some cassettes.

Sure, we have the Internet, and you can just about Google everything. But there is something that all the websites on the Internet cannot provide. That is, free access to the latest novels, biographies and reference texts. All this free wealth of quality information available at my local library is the perfect way to keep learning without forking out the cash to buy it.

Furthermore, not only do libraries these days stock your traditional media, they also have music and language CDs, movies and documentaries on DVD or VHS and the latest magazines, all available for borrowing.

On my most recent visits, I have been able to borrow items such as:

● A couple of biographies about one of the world's most successful real estate tycoons, Donald Trump
● A book about Google Adsense
● Numerous music CDs
● Current and back issues of “Money” magazine
● Lonely Planet travel books (anyone for New York? =) )
● A bestselling book about spirituality by the Dalai Lama
● Books from Robert Kiyosaki's 'Rich Dad' series

Sure, the topics of these books may not be your thing, but the point is that the library is such a treasure-trove of media that you can significantly reduce the amount you would otherwise spend on buying those items from a book or music store. From just the list above, I would say they would have cost me over $300 to purchase brand new. Rather, they cost me nothing except the trip to and from the library.

But apart from saving money, other advantages of visiting the library include being able to try before you buy, exploring books about other topics which you normally wouldn't purchase, promoting a sense of community and dare I say it, a relaxing place to chill out.

Sometimes though, wanting to borrow the most popular books from the library can be a test of patience. Often, there's only one copy of the book circulating around the library's network of branches. Books such as the Da Vinci Code would certainly always be loaned out with a long reserve list. If you must get the book right now, perhaps consider other methods of obtaining it without paying retail price such as purchasing secondhand.

One thing's for sure, is that you don't always have to pay for your continual learning and entertainment. Save yourself a great deal of money by returning to the library and rediscover what it has to offer you.

Save Money by Using a Prepaid Mobile Phone

2007-01-26T17:45:00.000+11:00

Mobile phones have certainly permeated into modern society. I scarcely remember the time not too long ago when mobiles phones were strictly the domain of yuppies and hard-nosed businessmen with their Porches and power lunches. Now every child and their pet Rover have one.

I hardly need to list the benefits of owning a mobile phone because they're a given. But what's clear is they're here to stay and phone companies will continue inventing new ways for each and every one of us to use them. These days, not only are mobile phones used to make and take phone calls, they're also portable music players, digital cameras, personal organisers, handheld gaming machines and Internet browsers.

But if you're like me and use the mobile phone to receive phone calls and text messages more often than make them, you should perhaps consider changing to a prepaid service if you haven't already. This will save you a great amount of your hard-earned money each month.

When mobile phones first became popular, mobile phone carriers would pre-package mobile phones into appealing deals where you'd get the phone for free if you signed up on a contract for say 12 to 24 months, paying a set monthly access fee. Often, you'd also get some free calls thrown in with the deal just to make it that much more enticing.

I remember being on a 24 month contract paying $20 monthly access, with $15 of free calls and a mobile phone included. It meant that I would only be forking out $5 each month for 24 months meaning I would only be paying $120 over 24 months to own the phone. On paper, this looked like a very good deal.... or was it?

What occurred to me whilst locked into the contract, was that I never really made $15 worth of phone calls each month therefore not using up the $15 worth of free calls. Worse still, the $15 worth of free calls would expire at the end of each month if it wasn't used. I was throwing away up to $15 each month in addition to the $5 each month for access and ownership of the phone. Was it really worth throwing away $20 each month for a mobile phone I'd occasionally make calls from?

The answer was a clear 'no'. As soon as the contract neared its completion, I started looking for cheaper deals. It seemed that 2 years on, mobile phone carriers had become more clever in finding ways to leech money from your average consumer. The cheapest advertised contracts around were $20 per month, and this time with even less free calls included.

After more research, I found there were contracts costing around $5 to $10 per month but with no free calls included. 'Better' I thought, but still not good enough. These $5 deals were not advertised by the carriers, and I had to specifically ask about them only to receive a reluctant response in return.

I realised I wasn't going to get any joy with phone contracts no matter how low-cost they were. Why should I be paying a set monthly fee if I'd seldom use the phone on some months?

The alternative was to go prepaid. Prepaid was a new world to me, but after a small amount of research, it made sense and I was convinced. The deal was that I would only pay for the phone calls I used. Even though I had to purchase prepaid call credits in advance, the entire amount of call credits would go directly to making phone calls and sending text messages. Not for the privilege of “accessing” a carrier's network or to own a phone. Plus, the prepaid amount had a much longer expiration period compared to a lock-in contract, ranging from a couple of months to half a year. This means the unused call credits would rollover to the next month until the expiration date of the credits. Much better.

Not too long after, I came across a phone company providing what I believed to be a fantastic prepaid offer. I could pay as little as $10 for prepaid credits each time I top up and the unused credits would last for 6 months. The call costs were billed per second rather than in 30 second or 1 minute increments. There were no flag fall costs with each call I made. There would only be one flat rate through the day. None of that peak/off-peak rubbish. It was simple, it made sense and I signed up.

The company is called iSim, and I'm still with them today. Haven't heard of them? The company is a subsidiary of Optus, one of the largest telecommunications companies in Australia. To date, it's been about 2 years since I joined iSim and only have praise for them.

From my calculations, I have only paid about $50 worth of prepaid credits over the 2 years, all of which I've used up before the credits expiring and without having to change my phone habits to do so. This works out to be about $2.10 per month over 24 months.

Now if I'd gone with the $5 per month contract, not only would I have had to pay for the $5 monthly access, but also the costs of making the calls and text messages. Say I would have spent an average of $2.10 on calls each month, that would be a $7.10 monthly cost. Now comparing that to my prepaid deal, I'm clearly saving around $5 per month! Further comparing that to my original $20 a month contract, that's a $17.90 saving! Are you convinced?

Therefore, if you seldom make phone calls or send text messages from your mobile phone, it is well worth considering switching over to a prepaid deal. You'll save a great deal of money by only paying for what you do use!

Save Money on Your Train Ticket - Method 3

2007-01-19T18:35:00.000+11:00

Method 3

You may be lucky enough to work for a company that's happy to arrange some sort of regular instalment arrangement to purchase a yearly train ticket.

What usually happens is your company will agree to fund the initial purchase of your yearly ticket, but will regularly deduct set amounts from your salary, probably each time you get paid. This is a great thing. Not only are yearly train tickets massively cheaper than buying a weekly one for each of the 52 weeks of the year, but also instead of paying for the entire yearly ticket price up front, you're making small regular repayments through the year.

Take for instance a weekly ticket costs $38. Over 52 weeks of the year, this would total $1976. But a yearly would only cost you $1561, calculating to be only $30 each week which your employer would deduct from your paycheck. Now that's a weekly saving of $8!

So which of these 3 methods appeal to you? Certainly method 1 requires some effort and may seem a bit risque, but the other 2 methods are achievable. I've personally been using method 2 for a couple of years and haven't looked back!

Save Money on Your Train Ticket - Method 2

2007-01-18T18:48:00.000+11:00

Method 2

When do most people buy their train tickets? Usually in the morning before they step on the train to go to work I hear you say. And in most cases, they would buy a weekly ticket because it is more cost-effective than buying a daily return fare for the 5 work days. Better still, if you also happened to use the train on weekends, you'll get even more out of the weekly ticket.

Ok, so having bought it on Monday morning, the weekly ticket would last until next Sunday. Not bad. But were you aware that if you bought the weekly ticket on the way home from work in the late afternoon, you'll get an extra half day on the ticket for free?

This means if you bought it Monday evening, it would last until next Monday. Sounds almost like a whole extra day on that weekly ticket! But how would I get to work on the first Monday morning?

Simple... just buy a single ticket. Will that really save me money?

Consider this: in your average month, there are 4 weeks. If you were to buy a weekly each Monday morning, you would have to buy 4 weekly tickets that month. For me, a weekly costs me $38, so that's $152 per month. Now let's consider the alternative.

If I buy a single ticket for $5.20 on Monday morning, I then have to buy a weekly on Monday evening for $38. This means the next time I need to buy a ticket is Tuesday morning. Again, I would purchase a single ticket in the morning and a weekly in the evening. The following week, I would purchase the single ticket on Wednesday morning and the weekly in the evening. And the week after that, I would purchase the single ticket on Thursday morning and the weekly that evening.

Now that's 4 weeks gone, and my 4th weekly ticket which I bought on the Thursday will last me not just that week, but until Thursday of the 5th week. It sounds as though I've bought myself an extra 4 days just by buying 4 single tickets for $20.80 all up. So does that mean if I followed this method and bought another single ticket the Friday morning of the 5th week, I've effectively bought 5 days worth of travel for $26? That certainly sounds better than paying $38 for a weekly that I'd mostly be using for 5 days anyhow! Can you see how I've just saved $12 over 5 weeks by simply changing the way I buy my train tickets?

In tomorrow’s article, learn how to save money on your yearly train ticket by making your boss fork up for it first.

Save Money on Your Train Ticket - Method 1

2007-01-17T22:26:00.000+11:00

Fed up with CityRail trains running late? Sick of how you always seem to get the stinking hot carriages with no air-conditioning when the day is 35 degrees? There are some things we can't change about the Sydney metropolitan rail system, but there are certainly ways we can make the most out of what we have.

Being someone who loves to find easy ways to save money and a regular train commuter, I just know there must be a way to save money when catching the train. I soon found a number of powerful ways to do just that and will show you 3 of those ways.

Method 1

A number of years ago, I was a uni student commuting to and from uni in the city to the home in the suburbs. Uni students as we know, are not the wealthiest demographic on the planet. In a way, it's a blessing.

Being a uni student having a student card usually always gives you immediate access to major discounts on many many things. One of those things is the humble train ticket.

When I was attending uni, I was able to get a concession on my train tickets, which would only cost me about half the full price of a normal ticket. Since then, things haven't changed much with this concession benefit, so students are still enjoying majorly discounted train travel. But what happens to the concession benefit once you've graduated I hear you ask?

Wouldn't I lose it because I'm no longer a uni student?

Well some people continue with post-graduate studies, and if you enrol in just enough subjects each semester, you'll continue to qualify for the train concession. Not bad.

But let's just say you happened to enrol in some subjects enough to qualify for the train concession, but within the first couple of weeks, decided those subjects weren't really for you. You decide to withdraw from them, and lo and behold, you still hold the train concession. The university's administration office has forgotten to ask for your train concession back. Oh well. I guess you'll just have to make use of it when you by your weekly train ticket to work now don't you? Hmm.... =)

In tomorrow’s article, find out how you can save money on your train ticket by not buying it in the morning.

Save Money by Bringing Your Lunch to Work

2007-01-15T22:11:00.000+11:00

This has got to be one of the most powerful ways of saving your hard-earned money everyday and probably one of the easiest to convince yourself to do.

We eat lunch each day, and if you're like me, really enjoy eating too! It is one of the pleasures of life. But just because it is something we do everyday, it doesn't mean we have to buy our lunch everyday.

By bringing a home-prepared lunch to work at least a couple of times a week, not only will you be saving money, but you would also be eating healthier meals. I like to think of it as your wallet staying fat, but your waistline staying slim. Now that's a win-win situation!

When I first started working full-time a few years ago, I used to relish at the chance of buying my lunch everyday. It was something I looked forward to. I was be able to try a new thing each day, whether that be a hearty pasta, fragrant curry, gourmet sandwich or the delightful steaming dumplings at my favourite yum cha restaurant.

But soon, things changed. Work became busier, I started getting a bit rotund at the belly and I was wondering where a good portion of my money went. I realised quickly that it was the fact I was spending it all on my lunches. The hype of buying takeaway everyday had lost its sheen.

Where I work, an average satisfying lunch is about $7. This would probably be a large size burger meal, a choice of 2 dishes with rice at a Chinese takeaway or a gourmet tandoori chicken sandwich with mint yoghurt and rocket salad. This meant on an average week, I would be spending around $35! Over a course of a year, this would be a $1,820 expense! And this is the minimum, not including the more expensive lunches at restaurants to farewell a work colleague or a get together with friends at yum cha.

Something had to be done, so I set a goal to try to bring food from home as often as I could. I managed to bring food for 3 of the 5 work days which was pretty good! This meant I saved a good $21 during the week! I was still able to “treat” myself to a bought lunch twice a week so I certainly wasn't denying myself anything.

Most of the time, I would bring leftover dinner from the night before which was perfectly fine with me. Sometimes, it would be a simple but absolutely delicious spaghetti noodles with a can of warmed flavoured tuna stirred through when the dinner wasn't really appropriate to bring to work.

Over a number of months, I found I was able to easily bring my lunch in 5 days a week. I was still able to lunch with my friends, but this simply meant we'd have to dine at a food court or in a park where I would bring my preheated lunch whilst they bought their own.

Occassionally now, I treat myself to a bought lunch. People at work still leave, so there are still the farewell lunches. And now and then, I indulge in a yum cha lunch with colleagues or friends. I was able to find balance and moderation in my lunching habits! My waistline stabilised, and even begun to shrink! I was a happier person indeed.

This was a few years ago, and with the money I've saved by bringing my lunch to work everyday, it greatly contributed to a deposit towards an investment property which I'm now the proud owner! Imagine having that extra $35 a week. What could you do with that?

I personally don't feel I'm missing out on anything by bringing my lunch in as often as I do. So I urge you to start bringing your lunch in from now on. Not only will your wallet thank you, but so will your body!

Save Money by Shopping at Asian Grocery Stores

2007-01-06T20:24:00.000+11:00

Sydney-siders are obsessed with Asian cuisine. The aromas, colours and wonderful flavours are a welcomed assault to the senses. If you're one who loves to indulge in culinary delights from Asia and not too occassionally whip up your own Asian meals, you're in luck. Now I apologise to those reading this article who aren't from Australia or don't like Asian food, but to not share this little gem of advice would be lunacy.

Asian grocery stores are the place to shop for all your Asian grocery needs. Not only are they cheap, but the fresh produce there really is fresh! If anything, head down for the cultural experience! It's like a mini-Bangkok encapsulated into a little shop. The hustle and bustle... the noise... the crowded aisles... the smell of a humid marketplace! Forget your big supermarket chains, you'll bag a bargain by buying at these stores.

Case in point: Chinese coriander was going for $1.29 a bunch at a largish typical grocer. But at the Asian grocery store, it was only 60 cents! Another example: baby bok choy at a major supermarket was selling for 99 cents a bunch. But at the Asian grocery store, it was only 60 cents! Sweet chilli sauce at a major supermarket - $2.79 a bottle. At the Asian grocery store - $1.99! And instant noodles for only 50 cents a packet! I think you get the picture!

But not only do Asian grocery stores sell Asian-related goods cheaply, your typical household items such as toilet paper, facial tissues, tomato sauce, bath soaps and toothpaste are also at bargain prices.

Granted, you may not have heard of some of the brands of these products, because most of them would have been imported from Asia-based manufacturers. I like to think of it this way: people living in Asia would be buying these products because they are as familiar with them as Colgate, Heinz and Kleenex are to us. These are their household brands.

Bear in mind also your Asian grocery store is much smaller than your typical giant supermarket chain so you may not be able to do your entire grocery shopping there. And don't worry about things being labelled in another language. Most of the time, things have an English translation with them. But for the most part, you'll be able to tell what the item is just by looking at it.

Also, I've noticed at some of these Asian grocery stores, their customer-service isn't exactly up to what we're accustomed to at large supermarket chains. They like to do things hurriedly and may not always say hello. I guess you have to weigh up paying more to shop at a supermarket where the check-out staff are better trained in saying "hello", or save buckets of money by shopping at an Asian grocery store where your wallet (and possibly your tastebuds) will be thanking you.

So the word is out: save money on your groceries by shopping at your local Asian grocery store!

Save Money by Turning off Lights and Power Points

2007-01-05T10:08:00.000+11:00

Do you really need the light on? Electricity is a wonder that most of us take for granted. It's available on demand by a flick of a switch or a push of a button, making it easy to forget that electricity costs money.

Below are simple tips you can do right now to save money by reducing your electricity bill.

Make the best use of ambient lighting in and around your home

This could be provided by an ambient light-source such as a night light, moonlight, streetlight or even light from your neighbours' homes.

I find that the nightlight in the corridor is bright enough that I don't need to switch on the bathroom light to brush my teeth. Let's face it, do you really need to stare at your teeth to brush it cleanly? Not really. Your sense of touch, familiarity with your teeth and brushing routine is enough to get the job done.

If each person in your household does this every night, could you imagine the money you save?

Switch off power points when not in use

Did you know that some electrical appliances still draw electricity even though they are not switched on? Appliances such as televisions, radios, VCRs and DVD players will use electricity when plugged into a power point that is on. Most of these appliances have a time display or a light to indicate it is on standby.

If you're not going to use the appliance very soon particularly if you're going to bed, consider turning it off at the power point.

Switch off computers and monitors when not in use

I don't understand why people leave their computer monitors on even though the computer is switched off. A monitor on standby often has a flashing light to indicate this and as you already know, this uses electricity.

On the other hand, I can understand why computers are sometimes left on. Some people don't close any of their documents so it can be readily resumed the next day. The solution for this is to switch off your computer using the 'Hibernate' mode.

This means that whenever your computer is switched back on, the documents and folders still open at the time of powering down will be resumed for you automatically.

I find this feature very useful because it saves a lot of time when starting up the computer again since it does not go through the full 'start up' process and you don't need to manually reopen your documents.

Use adjustable dim lighting when watching television

I've always been told that you should have another source of light on when watching TV so as to not hurt your eyes. Heeding this advice, some people may switch on the full lighting in the room which is just too much for watching TV.

Why not install a dimmer switch to the light and turn it down, or use a lamp with a dim lightbulb in it? Not only does this save money by reducing the use of electricity, but it also creates great mood lighting for your room!

Use a study lamp when doing work at a desk

Study lamps cast a direct light to your desk so there is sufficient lighting. They also require a much lower lightbulb wattage to provide sufficient lighting to your desk when compared to the room's main lights. A lower wattage means less electrical usage which saves money. Not only that, the main lights may also cast unwanted shadows across your desk making your desk environment less ideal for doing work. So turn on the study lamp, and switch off the room lights when working at your desk.

One of the best ways to save money is to be more conscious about the way we use electricity and how much of it is really needed to perform our daily lives. Simple things you can do everyday such as switching off appliances not in use, or using appropriate lighting for the situation are great ways to reduce your electricity bill to save you money.

Why You Should Start Saving Money Now

2007-01-03T17:44:00.000+11:00

Different people save money for different reasons that are personal to them. These reasons may be to achieve financial independence, to leave something for future generations, to save for a new car or holiday or to have peace of mind “just in case”. Whatever the reason, it is important to start saving money right now because this will put you one step closer to achieving your financial goals.

By starting now, you will have more time on your hands. Time is one of the most important things that will help you grow your savings. Growing your savings is achieved two-fold.

The first is by regularly saving. By putting money away consistently, over time, you will have saved a good amount. This is a no brainer.

The second is compound interest. Very simply, compound interest is interest earned on your interest. If you put your money away consistently into a bank account that pays you a good rate of interest and you leave the interest earnings in the account with the rest of your original savings, eventually your bank account will snowball in size as time goes by because the interest earned will earn you even more interest. Saving money is like making money!

Another form of saving money is to repay any debt you have such as credit card debt, personal loans or a home mortgage. Often, these debt sources charge you an interest rate higher than a savings account will pay you.

Say for instance your have a credit card debt which is charged 15% interest each year. If you were to pay $100 extra towards your credit card debt that you would normally have put into your savings account earning you 5%, that $100 would theoretically earn you $15 that year as opposed to $5 in the savings account. This means you will “earn more” by paying down your loan faster, saving you a heap in interest repayments. Imagine having no credit card debt or taking years off your home loan!

Nothing can be more satisfying that achieving your financial goals and there's no better way than saving your money now.

PS. This article should be treated as general information only and not financial advice. You should speak to your friendly financial specialist for financial advice suited to your needs.

Save Money Make Money

2007-01-03T17:17:00.000+11:00

We know we should save money but all too often find it too challenging or inconvenient. This website aims to teach you how to start saving money with simple tips you can start using now. It's just about doing things more cost-effectively without impeding too much on your daily life.

I personally use the tips presented on this site and find I am saving a good amount of my hard-earned cash. I sincerely hope you find this site useful. As the saying goes, a penny saved is a penny earned. And soon those pennies will be hundreds that lead to thousands!