Category: Money Matters
Chapter Select
Sub category: Saving
13 February 2014

Spend time on saving money

Want to save more but think your budget won’t let you? Increasing your savings doesn’t have to mean going without. Here are three instances where spending some extra time planning could have you spending less money in the long run.

1. Check your super statement

For many of us, our annual super statement is the quickest way to get a snapshot of our retirement planning. But, many respondents in the ING DIRECT/Financial Services Council report measuring Australians’ attitudes towards superannuation (2013) admitted to simply glancing at their statement and then throwing it in the bin. And while 72% said they do check their balance, that’s often where the action ends.

A super statement contain a wealth of information relating to the performance of our fund, the fees we might be paying and our activities over the past year. It may appear daunting, but some time invested in checking your statement and taking control of your super could save you money over time.

 

2. Clear out your house

Tempted to revamp your wardrobe? Need to buy something new for the house? Rather than see your bank balance diminish, think about how your existing household contents can help you come up with the money to pay for it.

Set aside a day to give your house a spring clean, and pick out any items you don’t currently wear or use. Rather than letting them collect dust, look at selling them – either at garage sales, or on Ebay – and put the money you’ve earned towards buying something new.

 

3. Make your own ‘takeaway’

At the end of a hard week at work, the temptation to splash out on a Friday night takeaway can be hard to resist. But the convenience of ordering in can quickly add up over the course of a year.

Swap saving time for saving money by looking up some recipes, getting creative in the kitchen and making your own version of a takeaway. In the time you could have ordered and waited for your delivery, you could be enjoying your own home-made meal and have saved money too!

The information in this blog does not constitute financial advice. Information is current as at 5 February 2014 and is subject to change. The information is factual only and the examples and scenarios given are for illustrative purposes only. Before acting on this information you should seek independent legal, financial and taxation advice to determine its appropriateness to your objectives, financial situation and needs.

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.

Related articles

Money Matters
Loading...
Share
Loading...
XS
SM
MD
LG