June 7, 2023

Saving without Sacrificing – Betsy Westcott

What comes to mind when you think about saving money or getting financially fit? Is it feelings restriction, images of nights at home and eating two minute noodles? If so then maybe it’s time we gave money and financial wellbeing a little ‘rebrand’. The thing is that practicing financial wellbeing and nurturing your money is an act of self love and care. It’s about giving yourself the freedom and flexibility to live the life you want, without constantly worrying about money. Whether you’re looking to pay off debt, save for a vacation, or just build up your savings, there are plenty of ways to make your money work for you. From using money-saving apps to finding a fun side hustle or discovering free events in your city, there are endless ways to make your money go further and have fun while doing it. So, let’s break free from the old beliefs about money and explore the endless possibilities of financial wellbeing starting with these 10 money savvy moves to boost your cash flow.

Reprioritise your spending:
This is a more empowering practice than cutting back on spending. It allows you to mindfully choose to spend money on the things that matter and eliminate the wasteful spending on things that don’t. How do you do it? Start by reviewing your spending. Then categorise them into ‘non-negotiable’, ‘nice to have’ and ‘not a priority’. Then create a spending plan (budget) that prioritises your non-negotiable purchases, leaves space for the nice to haves and cut out any waste. For example, non-negotiables like rent must be prioritised, getting your monthly colour or remedial massage is an important nice to have for our wellbeing, but unused subscriptions or the “CBF catching train” ubers are deprioritised!

Avoid paying the ‘lazy tax’:
How often do you review your bills and subscriptions to make sure you’re getting the best deal? If you’re not doing it at least once a year then you’re probably paying the ‘lazy tax’. That’s when you’re paying more for services than you should because you didn’t ask or shop around for  better deal. This small investment of time can save you some serious dollars. For example, if you’ve got a home loan of $600,000 and you negotiate an interest rate discount of 1% you will save yourself $6,000 in interest repayments in this year alone. Insurances and energy bills are another big ticket item that present a great opportunity to save along with any unused subscriptions or streaming services.

Earn money while you spend it:
Some shopping expenses can’t be avoided but at least you can earn a little money whilst you do it with cash back sites like shopback, cashrewards or superrewards. These sites give you money back just for shopping with your favourite stores when you do it via their platform. Last year I earned $183 for my savings account just by doing my Christmas shopping. You’ll be surprised how many retailers participate too – cashrewards has over 2000 retailers listed on their platform.

Make the most of money saving tools & apps:
Leverage the power of technology to save money and nail your savings goals. There’s a swag of tools and apps out there to help you save money. Some popular options include
Fuel: Petrol Spy & Fuel Map can save users an average $250/year in petrol expenses
Groceries: Save $34 everytime you hit the grocery store with apps like SmartCart, Frugl, Wiselist and shopfully to find the best prices before you hit the shop
Dining out: Eeatclub will let you know which restaurants near you have special deals and offers before you make a booking

Hack your grocery shop:
Ok we’ve already mentioned apps that can help you to be savvy shopper at the grocery store but here’s a few more practices to try to make your dollars go further.

Consider buying frozen instead of fresh
Avoid precut, prepackaged or premade food
Switch to supermarket brand items
Use unit cost pricing to compare prices
Meal plan to avoid waste
Shop with a list so you don’t impulse purchase

Thrift like Macklemore
You can save a lot of money by shopping secondhand for clothing, furniture, and household items. Check out thrift stores, garage sales, and online marketplaces like Facebook Marketplace or Gumtree. And don’t think that shopping second hand means you’ll be dressed like a Nanna – places like Glamcorner, Revior and The Closet sell preloved designer clothes at a fraction of the cost.

Everybody’s hustlin’ and you can too:
Look for simple ways to hustle up some extra cash be it selling unwanted items on marketplace or even upcycling items, complete surveys for money with survey junky or askable, monetise your skills with websites like fiver or airtasker, starting a hobby business, rent out a room or car space, do some uber driving for a few hours or even become an instructor at your favourite fitness studio (*cough* Peaches?!)

Entertain at Home:
Eating out can be expensive, so try entertaining at home instead. Look up recipes online, and experiment with new ingredients and flavors. Set the table with luxe napkins and dinnerware. Order a boujee bottle from your favourite wine retailer for a fraction of the cost of drinking it at a restaurant. We absolutely encourage responsible drinking but there’s also something to be said for no RSA laws and a bed within walking distance…

Switch up your mode of transport:
You can significantly reduce your car maintenance and fuel bills by switching to public transport, cycling or walking alternatives. Not to mention you’ll be crushing your fitness goals while you’re at it.

Explore free activities:
There are plenty of free activities in most cities, from free museum days to community events. Check out what’s happening in your area, and plan your weekends around these activities.

By following these tips, you can save money, get bang for your hard earned bucks and still have plenty of pleasure in your life. Remember, it’s all about find a balance that works for you so that it can be sustained over the long term and enjoyable too. Good luck, Peachies!


The information in this article is for general information and educational purposes only.  Nothing contained in it is, or is intended to be construed as individual financial, tax or legal advice.

You need to decide what may work best and is suitable for your own personal or business needs. I do not have your personal information, your individual, business or product facts or situation in mind when I provide this information and any content. It does not constitute nor should it be treated as formal advice of any type or nature. You need to make your own enquiries and analysis to determine if any of the information is suitable for your own particular purposes and suitable for your situation.

You should, before you act or use any of this information, consider the appropriateness of this information having regard to your own financial situation and requirements.