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. 

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! 

Avoid 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.  

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. 

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. 

Marry someone who likes to save money 

Of course, you can’t help who you fall in love with and this tip is a little tongue-in-cheek. But lots of statistics show that one of the biggest determinants of someone’s financial wellbeing can be their spouse. From whether they support your career to whether they share your financial goals, the person you choose to spend time with can have a big financial impact.  If you’re currently single and looking for a relationship, it might be something to keep in mind. 

Want 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.