Category: Beyond Banking
Chapter Select
Sub category: Dreamstarter
18 December 2013

Crowdfunding your personal finances

Two’s company but three or more could be good for your finances – at least as far as group buying goes. From better deals on airfares to discounted workouts, spending time with your friends has never been so financially rewarding.

Here are five ways where it could pay to round up a few friends to join you in your activities:

Going on holiday

It’s no secret that going solo costs you more in hotel costs than if you go as part of a couple, but if you’re organising a large group trip then you could be on your way to getting a discount or at least some added bonuses.

Some airlines, including Virgin AustraliaJetstar and Qantas offer a different pricing structure for groups, as well as additional flexibility – potentially saving you money in change fees later on.

Getting fit

One-on-one personal training can be a bit of a luxury, with a session edging upwards of $50 an hour. But if you don’t mind sharing your time with friends, then you could enjoy the benefits of a personal trainer for up to a quarter of the cost.

Many personal trainers offer reduced rates for friends which makes the session not only a social event but a good money saver too.

Eating out

Ever think the food selection on share platters is more appealing than sticking to just one individual dish? They might be too large and expensive for just one person, but they often offer great value when shared between friends – which means they also get the thumbs up from your bank account.

Many restaurants offer share platters or tapas style dishes, but alternatively you could get a bunch of starters to share and split the bill.

Entertainment

Family tickets have been around for a while, but many organisations are starting to introduce discounts for larger groups.

For example, Sydney Aquarium offers a 20%-30% discount on groups of 10 or more, depending on the time and date of the visit; and Ticketek and Ticketmaster both offer a variety of discounts for groups on certain events.

Car sharing

If you find yourself paying registration and insurance on a car you rarely use then signing up for car sharing could provide value for money.

Schemes such as GoGet offer cost-effective car hire for irregular drivers, with pricing dependent on how often, and how long, you use it for.

The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Home and Contents Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at ing.com.au when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms https://www.ing.com.au/pdf/Social_Media_User_Terms.pdf.

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