I’m currently saving between 30%-40% of my monthly take-home pay. I have a PAYG job and no dependents. Don’t live a very expensive lifestyle but some things do slip through the cracks.
My goal is to get my savings rate over 50% which I know is achievable.
What are some good savings ideas to help me capture that little bit extra?
To be honest the biggest thing that helped me save was bring my lunch to work and having coffee at home or instant coffee. I know this is a popular tip, but it worked.
I was spending between $10-$15 per day on lunch and then on average $5 per day on coffee. Working 5 day’s per week and 48 weeks per year.
This was costing me between $3,600 and $4,800 per year. Once I realised that I would much rather have this invested (or even go on a holiday worth that) each year, it made it easier.
Very solid advice! I’m getting a lot better at bring food but often struggle as I am out of the office at random time’s. Somthing to keep working on.