Everyday Saving Tips For Financial Success

Have you often wondered the best way to save for that holiday or car or achieve that financial goal? Here are some proven methods to help you achieve these goals!

It’s a common misbelief by many: the reason you haven’t reached your savings goal is that your income wasn’t high enough. Having a higher income certainly makes it easier to accumulate your earnings. However, it’s usually never the reason why people save money.

Let us introduce you to the concept of “lifestyle inflation”. In general, higher-income earners are likely to be higher-spending consumers. They often have the need and desire to show symbols of wealth through luxury cars, designer clothing, private school fees and an expanding home. With all this considered, many are left having very little savings at the end of the month.

So here are our top saving tips:

Spend less, save more

  • The key to reaching your savings goals is by simply spending less rather than earning more. The ability to save is influenced more by how much you spend rather than how much you make.
  • Have a look at all the non-necessity items you spend on, such as Foxtel, alcohol, cigarettes, and eating out. The truth is that you have to make changes to get ahead.

Have a budget

The “B” word can be very daunting for most but having a budget is the foundation to successfully reaching your financial goals sooner rather than later.

  • Creating a budget gives you a greater insight on exactly what your income is being spent on and helps in identifying where your expenditure can be better managed and adjusted.
  • To start off, you will need to identify and separate your needs from your wants. Gather your weekly/monthly expenditure on the essentials, i.e. food, rent/mortgage, motor vehicle running costs and utilities.
  • After you’ve done that, you can then see how much is left over, how much you wish to save and by when. It’s crucial to set a date on your financial goals. From there, you can evaluate how much is left over for the non-necessities which add a little sparkle to your life like subscriptions, new shoes or that 4th hobby.


Spending habits, no matter how big or small, really do stack up in the long term. It’s important that you are aware and can recognise daily or weekly spending that may be negatively impacting your savings goals. Here’s an insight into a few common spending habits we can all relate to and what you can do to reduce or eliminate these expenses so you can save more:


The average price of a regular cup of coffee in Melbourne is $4. Substituting that daily coffee run by bringing your own coffee from home or holding off until you arrive at work is such a small but easy way to make a difference. By cutting out this daily purchase over the period of one year, you can save over $1,000!

Eating out

  • With Uber Eats and Deliveroo available at our fingertips, it’s super convenient to buy lunch at work or dinner on the way home rather than cook. However, you can be easily spending $10-$25 or more a meal. If you were to buy five meals a week out your total minimum spend would be over $5,000 a year!So instead, why not try preparing your meals for the week on a Sunday or preparing extra food each night which you can then take to work the next day for lunch.
  • Creating new habits like this can end up saving you thousands which you can put aside for a rainy day, or to escape the rain all together!

Four Walls

Taking top spot ahead of food and drink expenditure is housing costs and mortgage repayments. Although these costs are necessities rather than wants, there are some actions you can take which can help to reduce these expenses. One of the best ways is through refinancing your home loan.

· Refinancing involves the application of a new loan with your existing or new lender offering more favourable terms than your current mortgage. The benefits of refinancing can be massive!

Savings from Tax advice

Along with our annual online tax return service, we have introduced two new online month-by-month financial services in two affordable packages!

  • ‘Tax and Mortgage’ is a tailored plan offering mortgage and loan advice for $14.95 per month. It includes refinancing advice on your current investment or mortgage, with potential savings in the thousands.
  • ‘My Life Planner’ is our second addition. It is our new premium service which includes all the services provided in our middle-tier package in addition to Personal Superannuation review & Financial Planning advice for $24.95 per month. Instead of costing thousands like traditional “Old school” financial advice, our preferred financial planner will assess your famil’s situation, give you guidance regarding superannuation and life insurance – all for only $24.95 per month.

Other Ezy Tips

  • Automate your savings. Most major banks now offer services whereby you can set up weekly, fortnightly or monthly transfers from one bank account to another. This is a great way to keep track and stay consistent with your savings goals. Setting up a separate account purely for savings and removing card access will make things even easier.
  • “Out with the old and in with the new!” Do you have a wardrobe full of clothes? Why not post an ad on Facebook Marketplace or Gumtree to make some extra cash and de-clutter your home at the same time!
  • Do you have a household full of separate Spotify, Netflix or iTunes accounts? Did you know most companies offer discounted subscriptions for groups? Create a joint account and start saving some extra money each month without sacrificing a thing!
  • Do you have a spare bedroom? The sharing economy is a fast-growing economy and can be a quick and easy way to make some substantial income from a space that you may not be using. The tax benefits of this are great too! If you would like to read up more on the tax savings of rentals, read our blog “Airbnb Tax Tips”.

If you would like to know more about our new mortgage and financial advisory services or have questions regarding your finances, please contact us today to get your savings on track!



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