Why can’t I save money?

You can! Here’s 5 fast and easy ways to start saving today

When you’re unemployed, on government benefits, a student, or earning a low income, it can be really tough finding the cash to cover your expenses, let alone save some for a rainy day.

But even making a small saving each week can make a huge difference when you need it. Here’s 5 ways you can start saving today.

1. Coins count!

• At the end of each day empty your pockets and purse into a large tin or jar – and leave them there!
• Once it’s completely full, take it to the bank and deposit it.
• You’ll be amazed how quickly you can reach a few hundred dollars just by saving your small change.

2. Work out where your money is going

• Keep a spending diary or use a handy app like Track My Spend to record every dollar you spend, every day, for a few weeks.
• This will make it pretty easy to see what things you might be spending money on unnecessarily, or where you’re spending too much.
• And here’s some fast and easy ways you can save a bit of cash on your everyday spending.
• Divert this money to savings instead, and watch it grow!

3. Money going up in smoke?

• If you smoke 20 cigarettes a day, at a cost of around $22 a pack that’s setting you back almost $8,000 a year.
• This (scary!) cost of smoking calculator will show you just how much of your precious cash has already gone up in smoke.
• Instead, why not use this nifty Quit calculator to set yourself a savings goal – you’ll be amazed how quickly you could hit it!
• Sure, we know it’s not easy to kick the habit, but the savings (and obviously the health benefits) will make it more than worth it.
• Here’s some great advice to help you quit.

4. Find the best deals

• Always shop around to make sure you’re getting the best deal on your bills like electricity, your mobile phone, and insurance.
• Use price comparison services like Compare the Market and iSelect to get the best deal.
• Use fuel saving dockets and price tracking apps to minimise your petrol costs.
• And here’s some easy ways you can save at the supermarket.

5. Make more money!

• Think outside the box for some ways you could make a little more cash each week.
• Perhaps you could do some babysitting work, or use your talents to make and sell goodies like craft or cakes.
• Have a clear-out and sell your excess stuff in a garage sale or on sites like Gumtree.
• Get paid for saying what you think – register with local market research companies.
• If you’ve got a spare room, you could let it out for a helping hand with paying the rent.