Will you continue to think before you spend?

Posted January 2022

Thinking before you spend can make a real difference, not just to your bank balance, but to your peace of mind. By asking these questions, finding small ways to save, and being intentional with your money, you can start building habits that last.

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.

By asking yourself these questions and looking for small ways to save, you can take control of your spending and make your money go further. It doesn’t have to be about strict budgets or giving up the things you love; it’s about making thoughtful choices that work for you and your family.

Starting a savings plan, even with a small amount, can give you peace of mind and help you prepare for the unexpected. 

Take a moment today to review your spending, set aside a little for your future, and make your money work harder for you. Every small step counts, and your future self will thank you.

If you’re ready to put a little aside and make your money work harder, our team is here to help you choose the right savings option — whether it’s an Online saver, Everyday saver, or Christmas saver. Or, if you prefer, you can get started right away by applying online.