Unconventional Savings Hacks: Transform Your Finances With These Tips

If you’ve ever tried to save money, you’ve probably heard all the usual advice.  Set a budget. Pay yourself first. Reward yourself when you reach a target. But sometimes, getting to where you want to be might take some more out-of-the-box thinking. 

Here are five unconventional tips that might help you get a little closer to your financial goals. 

Turn your pantry into a “zero-waste challenge”

Pick a fortnight where you commit to cooking only from what’s already in the cupboards and freezer—no extra grocery shops apart from absolute basics like milk or bread. Food is one of the biggest variable costs for New Zealand households and a pantry-challenge can save $100 or more off your grocery spend in just a fortnight...

Borrow, don’t buy: tap your local “library of things”

Community ‘libraries of things’ such as the Auckland Library of Tools and Christchurch’s Tool Lendery let you borrow drills, tents or even sewing machines for a small fee, cutting hundreds off one-off purchases. If your district doesn’t have one yet, check Neighbourly or Facebook Marketplace “Buy Nothing” groups. Borrowing a tile cutter or hedge-trimmer for a weekend can save you the $150-plus hire fee at the big-box stores.

Gamify your spare-change with “round-ups”

Many banks and fintech alternatives now let you automatically round EFTPOS and Visa Debit purchases up to the nearest dollar and sweep the difference into a savings or investment account. Challenge yourself to leave those round-ups untouched for 90 days—many Kiwis are surprised to see savings accrue without noticing a thing.

Save every $10 note you get 

This may not work as well in our relatively cash-less society, but some people have success by deciding they’ll save every $10 or $20 note that they get during the week. You could set up an electronic version of this – perhaps flicking $10 over to your savings account every time you make a purchase for roughly $10. 

Give yourself a time limit for any shopping trip 

It’s easy to spend more money than you plan to when you start wandering around the shops. To stay motivated, it might help to give yourself a set amount of time that you are allowed to spend shopping. In and out in ten minutes? It might save you thousands over the year. 

Switch once, save hundreds with Powerswitch

Stop paying the “loyalty tax”. Consumer NZ’s free Powerswitch checker says 94 % of households who run their bill through the tool find a cheaper plan—saving about $500 a year on average. It takes five minutes online, and your new retailer handles the paperwork, so those dollars head straight back into your budget.

Swap, don’t shop: join a local Crop Swap

Crop Swap Aotearoa, launched in 2014, has blossomed into 20-plus hubs nationwide. Turn up with surplus lemons, seedlings or homemade chutney and leave with a reusable bag of free fruit and veg—regulars reckon a monthly meet-up trims a solid chunk off the grocery bill while building community spirit.

Freeze your credit card 

Yep, get a freezer-proof plastic container, fill it with water, chuck your credit card in and stick it in the freezer.  Then, if you want to make a purchase, you’ll need to wait for the card to defrost before you start spending. This extra thinking time might have you reassessing whether you really need to spend the money after all. Of course, this tip relies on you not having your credit card details saved in your phone! 

Sense-check sales 

Wait, what? You probably expect that shopping at sales is the money-conscious thing to do.  But there’s some research that shows that when people think they’re getting a good deal, they’re more likely to spend more money than they would otherwise. The same can apply to coupon deals or member discounts.  If you are in the mood for some shopping, or need a specific item, you’re better off to compare the price across a range of retailers and find the best price you can – without the hype. Comparison sites can help with this.  

Like to chat? 

If you’re ready to make some financial changes, get in touch with us. We’re here to offer a different way to do finance and we’d love to talk about how we can help you. 

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.