Will you continue to think before you spend?

Posted January 2022

We’re always looking at ways to help our members achieve a better tomorrow, like reducing your spending. If you’re ready to start saving then chat to us today about whether an Online Saver account or Everyday Saver account is right for you.

To encourage you to think before you spend, here are some questions to ask yourself:

1. Do you need it or just want it?

Ask yourself this question with every purchase you make no matter how small.

• Do you really need another scatter cushion in the lounge?
• Do the kids need a 4th pair of gumboots or are you only interested because they're ½ price!
• Did you really miss that barista coffee over lockdown?
• Do you only want it because it's on sale?

2. Can you afford it?

This is a tough question to ask yourself, but think of what you are giving up to buy it. If you are someone who likes to have the latest version, a new car may feel like a necessity, but is the old one still ok? If you need to go into more debt in order to buy an item, it might be worth revisiting the budget and starting a savings plan or looking at consolidating your current debt to reduce your repayments.

3. Can you get it for free?

Recycling, reusing or upcycling is not only good for the planet its good for your savings.

• Ask friends with older kid’s if they have items they would like to pass on to your kids
• Ask that person with a backyard full of treasure if you could hunt out materials for your next DIY project?
• Can you babysit someones kid’s and ask them to fix your broken appliance?

4. How can I reduce the weekly shopping bill?

• Make time to bake for school lunches with what you have in your pantry.
• Save leftovers for lunches the next day.
• Add lentils/legumes to bolognaise sauces to make them go further, by blitzing the legumes in a blender and adding to meat sauces you add protein as well as stretching smaller packs of mince.
• Buy cheaper cuts of meat and cook them in your slow cooker. There is nothing better than a hearty casserole on a winter’s night.
• Make use of your neigbourhood citrus supply and make your own fruit juice.
• Try to buy non-branded supermarket products

5. Can I spend less on travel?

Walking or biking is not only free but it’s great exercise and fresh air is good for our mental health too!

• Could you walk to school rather than drive (remember during lockdown when you walked and made an adventure out of it?).
• Plan your trips around town so you don’t need to drive around as much.

Try thinking of 2 more ways you could think before you spend....