In today times, saving money is an agenda that everybody hopes to achieve, however usually it can be a complex task for lots of individuals. Rent, bills, groceries, and everyday needs add up quickly, leaving most families with little to no savings. Being able to save money and enhance your life appears to be a paradox, as we normally associate a better life with spending more money! Irrespective of this, small lifestyle adjustments can have a remarkable effect on your savings balance as time passes, and investing these savings intelligently will certainly improve your life in the long-term. All it takes is some willpower, commitment, and education.

With the new year upon us, now is an appropriate time to look at your financial situation and plan to keep an eye on your spending patterns and cut needless expenses. After all, saving money means earning greater than you spend, so here are the top ways you can save money in the new year to acquire a better future for you and your family.

Take a look at your financial situation

If you don’t understand your financial circumstances, then there’s probably no way that you can improve it! Being able to make practical financial decisions starts with education and understanding where your money is being spent. The majority of the time, it’s complicated to monitor our expenses, so it’s a clever idea to start keeping your receipts and reviewing your expenses weekly to garner a better understanding of your spending habits. This is the most crucial step in being able to save money. Now, let’s discuss some specific money saving strategies.


Saving money on groceries is far easier than you think. The trick is to arrange your meals a week in advance before you head to the grocery store. Once you’ve planned your meals and the associated ingredients, prepare a list and stick to it! Don’t go grocery shopping starving either, that’s a sure way to spend unnecessary money impulsively. It’s also a great idea to have a pen and paper in the kitchen, so when you run out of a specific ingredient, you won’t need to make a second visit to the grocery store in case you forget.


Electricity is another useful way in which you can cut down costs by making some small adjustments. The most helpful way to save electricity is by switching off devices at the power point when they’re not being used. Although the appliances aren’t being utilised, an active electricity socket nevertheless uses electricity, and these costs can really build up in time. Alternative ways to conserve electricity is to use fans rather than air conditioners, switching off lights that aren’t being used, using hot water bottles as an alternative to electric blankets, and using a clothes line as opposed to a dryer.


All of us need to let off some steam after a hard day’s work, so a glass of wine and some cable TV does the trick for most individuals. Unfortunately, cable television is a significant expense that is seldom used to its full potential. Consider switching to streaming services like Netflix or Hulu which cost close to $10 a month as opposed to the standard $70 a month for cable television. That’s a saving of over $700 a year alone. Furthermore, instead of dining in a restaurant with friends once a month, try hosting a dinner night where every person brings a dish and their beverage of choice. You can rotate hosts, save stacks of money, and never have to worry about being too noisy!

Invest your savings

While the above techniques are far from comprehensive, saving money by making minor changes gives you more financial possibilities to enhance your life. You could use these savings to enjoy a family holiday once a year, or you may choose to invest your savings in a diversified investment portfolio. Whichever you chose, the fact of the matter is that we can all make small sacrifices to save money which can be used to enhance our lives.

Dealing with Debt?

If you’ve found yourself in a position where you’re repeatedly battling with debt and can’t see any way out, there are a number of options available for you. You don’t need to live your life in anxiety and stress, and the sooner you act to rectify your circumstances, the more choices will be available for you. If you require professional advice on any financial troubles that you’re currently facing, don’t wait any longer. Talk with the specialists at Bankruptcy Experts Albury on 1300 795 575, or visit our website for more information: