fbpx

INSIGHTS WITH EVALESCO

Five Savings Hacks
by Mia Taylor | 20 March 2020

TOPICS DISCUSSED

Tips to saving money
Ways to reach financial success
Review your online social platforms

Once you establish a firm goal that requires you to save, the idea to start saving might sound easy, but it’s a big habit change for most people. One of the fundamentals to financial success is mastering the act of spending less than what you earn. 

Some tried and tested ways to save some extra cash, that in isolation don’t seem like much, but can make a huge difference over the long term are: 

  1. Unsubscribe to the emails – go through your inbox and unsubscribe from the emails you receive from stores and online shopping outlets. This will help remove the temptation to open the latest newsletter offering you 30% off or a free gift with purchase over the amount of $100.
  2. ow I know it’s unrealistic to expect people to give up online shopping completely but if you are going to shop online be savvy about it. When you are making an online purchase, order enough to get free delivery and then you can return what you don’t want to avoid paying postage. (this obviously relies on a free returns policy) or waiting until you have enough to order to justify the cost of the delivery.
  3. Unfollow on Instagram – this might be controversial given this is an Instagram post but how many companies or influencers are you following who are advertising or pushing product in your feed daily? I personally fell into this trap seeing the hype and internet frenzy of the latest hair treatment and realised that if I kept up this habit I’d have no money left. Instagram is now making it easier to shop. Remove the temptation and unfollow those companies or people who are pushing products.
  4. Learn to cook once and eat twice. This is a rule in our house, we will cook up something yummy for dinner which will stretch at least to lunch the next day. I cannot stress enough that if you are buying your brekky, lunch and dinner regularly you will be burning through cash! This is the number one area where you can make a massive difference to your surplus cash flow. If you are stuck for meal ideas there are some amazing food bloggers you can follow for some inspiration @lady.lolas meal prep queen @budgetbytes budget meals.
  5. If you are going to eat out, be smart about it. Find the lunch deals and the happy hour specials. I use this website to find local specials. Some of my favourites in Sydney CBD are Angel bar which offers delicious sandwich and a glass of wine for $9.90, Contrabando have Taco Tuesdays, and their $3 tacos are amazing! They also offer $20 express lunch if you have a lunch meeting with work. It’s a great place to go. Hunter Street Connection has an assortment of cheap lunch options too. 

These are just a few of my tried and tested tips to start saving. What are your savings hacks? 

SHARE OUR INSIGHTS

Share on Facebook

Share on Email

Share on Linkedin

NEWSLETTER

Sign up to get the latest insights with our newsletter delivered straight to your inbox

Slide
“How will I measure the value or success of receiving financial advice?”

We believe the true value of financial advice isn’t found in dollars and cents (although this is important too!) but in the peace of mind a financial plan can provide. It’s knowing where you want to go and how to get there, with a dedicated team behind you every step of the way.

Slide
“How do I know Evalesco is the right fit for me?”

We know the impact of good holistic financial advice can make and we have the life experience, technical capability and quality support team that can make that difference for you. We’ve empowered over 1000 families through the delivery of great financial advice, to be healthy, wealthy and happy.

Slide
“How do I know how much money I will need to retire?”

The amount of super you’ll need when you retire depends on your big costs in retirement and the lifestyle you want. The Associate of Superannuation Funds of Australia (ASFA) estimates for a single $44,224 a year and for couples $62,562 a year is how much you may need. This is only an indicator and our advisers assess everyone’s individual circumstances.

Slide
“Why should I pay for financial advice?”

The fees we charge for financial advice is only a fraction of the value we derive for our clients, meaning our clients are always better off after seeing us. Rarely do we encounter a new client invested appropriately for their needs, with adequate risk protection, structuring and estate planning provisions in place. Even small tweaks to a financial plan over a long period of time can result in drastically better outcomes for our clients which eclipses the fees of the financial advice. Additionally, you can opt-out of an ongoing fee arrangement at any time.

Slide
“How do you charge for your services?”

In our discovery meeting with you our advisers discuss the initial advice fee and the ongoing fees associated with our services.

Slide
“What is the process for getting our own personal financial plan?”

After our initial phone call to discuss why you are seeking a financial adviser, we arrange a discovery meeting that outlines what is important to you, your current position, our areas of advice, our approach. We then present a Statement of Advice (SoA) to discuss your goals and our recommendations and go through the steps of how to proceed to the implementation stage. After signing the SoA, we discuss your questions, get you to sign the authority to proceed and complete any application forms before implementing the recommendations detailed in the SoA.

Slide
“Should I pay more off my mortgage or put more money into super?”

One thing to consider is the interest rate on your home loan in comparison to the rate of return on your super fund. Before making a decision, it’s also important to weigh up your stage in life, particularly your age and your appetite for risk. Whatever strategy you choose you’ll need to regularly review your options if you’re making regular voluntary super contributions or extra mortgage repayments. As bank interest rates move and markets fluctuate, the strategy you choose today may be different from the one that is right for you in the future

previous arrow
next arrow

Evalesco Financial Services Level 17, 20 Bond Street Sydney NSW 2000
Phone: (02) 9232 6800

The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Evalesco Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance. Copyright © 2019 Evalesco Financial Services. All rights reserved

Evalesco Financial Services Pty Ltd is a Corporate Authorised Representative (325313) of Australian Advice Network Pty Ltd.

ABN: 13 602 917 297 AFSL: 472901