Reducing Expenses - Tips

Discussion in 'Wealth Creation & Management' started by Krakked789, Mar 29, 2020.

  1. Krakked789

    Krakked789 Active Member

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    Hello everyone,

    I thought I'd start up a new thread on reducing expenses, given all the lay-offs that are occurring globally. I have a number of ideas on this, but I'll start with a couple:

    - If your car insurance is about to expire, don't simply take up your insurer's yearly renewal offer. AAMI sends me an automatically generated renewal notice once a year, but the cost of renewing is significantly higher than signing up online as a new customer. The only thing you'll lose is their gimicky "ruby", "diamond" or "gold" status customer nonsense. I haven't seen any real benefit to being one of their loyal customers, apart from the odd shopping voucher. This year I saved about $150 and got free roadside assistance.

    - On insurance, the following tip may not work this year: If someone has binged your car but you don't have proof of it and you've had to pay for repairs that are lower than your excess, you should still put in a claim. I've been told that insurers often honor the claim at the end of the financial year anyway. Given the current climate, however, they may not do so this year.

    - Adding five years of life to your computer: My 2012 computer had slowed to a snail's pace this year. I was thinking of buying a new PC, but decided I'd swap out the old disk drive and get a solid state drive running KDE Neon, a Linux variant. Linux has really grown in leaps and bounds over the years. Now my PC flies.

    Please contribute your own ideas!
     
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  2. silverhair

    silverhair Well-Known Member

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    1. Review and cut subscriptions like Spotify, Adobe, downgrade netflix to standard res, SMH ( read it in privacy mode for free), stuff like that.

    2. Shop at Aldi not Colesworth

    3. Negotiate premiums with insurers, they will move if you threaten to leave. Shop around the make them price match the lowest offer.

    4. Uber Eats - No No Just no, learn to cook!

    Thats some of mine, hope it helps
     
  3. STKR

    STKR Well-Known Member Silver Stacker

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    For me it's as simple as not leaving the house and putting down my phone.

    I save a bunch of money doing my own mechanical work. If you buy anything from a parts store, ask for a trade discount! If they ask if you work in the trade just simply say "I use my car for work and do my own repairs".
    Just recently I saved $164 on a master cylinder by simply asking a question.

    Everything in life is negotiable, but some things aren't worth the time and energy.

    Quitting smoking saves a tonne of money, so does limiting take away food and coffee's - It all adds up!

    Anyone serious about budgeting only needs to write down everything they purchase in a month and to add it all up. Things become much clearer once you see how much expenditure is going to waste on crap.

    Another alternative is to increase your income. Heh :p
     
  4. Silverling

    Silverling Well-Known Member Silver Stacker

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    Use an app like "Fuel Check" in NSW. Each state probably has their own version.

    With this app you can scan a whole area for the cheapest fuel price. At the main road near where I live there has been a difference of .25c per litre.

    It's big money savings when you are buying a full tank.

    Check it out here: https://www.fuelcheck.nsw.gov.au/app
     
  5. Silverling

    Silverling Well-Known Member Silver Stacker

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    Shop around for your meds too. Went into a pharmacy 2 days ago to fill a script. They wanted $10.80 for something that I have paid $5.60 for. When I queried it they said sorry that's the price to which I said thank you I will go somewhere else. Went back to my usual place and it was $5.60, same as before and for the same amount. Stand up to blatant overcharging!
     
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  6. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    1. Feed brown rice to the local doves (spotted doves are an introduced species), in no time you'll have a flock of 20 or more, catch and eat them.(not all at once though, ;) freeze some)
    2. If you don't have a garden, do some guerilla gardening; if you do have a garden, do some more guerilla gardening.
    3. Eat food to live, don't live to eat food.
    4. Perhaps, just grow food that is easy to grow, carrots can be a pain to grow for newbies but they are cheap at the shop and easy to wash and cook. (Why bother)
    5. Consider not wearing loose gold jewellery such as necklaces, if they are snatched and grabbed, they'll be very expensive to replace. (easy target)
    6. If you think you'll be home for a long period, consider cancelling your home-contents insurance.
    7. Sell the trailer, use the free one available at Bunnings or the local nursery.
    8. A worm farm might be a good idea if you can get one for free.
     
  7. 66rounds

    66rounds Well-Known Member Silver Stacker

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    The local park is full of rabbits. They look big and plump. Ive often wondered whether they would be safe to trap and eat.
     
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  8. barneyrubble

    barneyrubble Well-Known Member Silver Stacker

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    Consider binning:
    Foxtel
    Netflix
    Stan
    YouTube sub
    Audible
    Amazon prime
    Reduce your mobile plan (as you'll be home)
     
  9. Ag bullet

    Ag bullet Well-Known Member

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    1- don't drink
    2- don't smoke
    3- don't gamble

    $1000's saved directly and indirectly.
     
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  10. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Mmm, mmm, underground mutton. :D
     
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  11. Ag bullet

    Ag bullet Well-Known Member

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    safe to eat. not getting caught trapping or snaring them in public will be your problem
     
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  12. Ag bullet

    Ag bullet Well-Known Member

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    oh the days of catching a tram to go rabbiting with .22 slung on your shoulder
     
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  13. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Oh that's the easy part
     
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  14. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    Just check their liver for white or yellowy green spots when you gut them
     
    Last edited: Mar 29, 2020
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  15. 66rounds

    66rounds Well-Known Member Silver Stacker

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    What would the green spots indicate?
     
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  16. Krakked789

    Krakked789 Active Member

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    - Kogan Mobile sometimes has first month deals of $4.90 for 30 or 40 gigs. You have to be absolutely sure that you delete auto payments after you sign up. I bin the SIM once the month is over...

    If you do a Google search you can easily find this kind of deal posted somewhere.

    - If you're not a data hog, ditch the NBN and just use your mobile phone as a wi-fi hotspot or via tethering.
     
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  17. 66rounds

    66rounds Well-Known Member Silver Stacker

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    If you are not keen on binning Sims, Amaysim has great month to month plans too
     
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  18. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    Sorry white or yellowish spots = Tularemia
     
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  19. Ag bullet

    Ag bullet Well-Known Member

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    check for hydatid cysts too. abnormal lumps under the skin.
     
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  20. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Thanks bud,anything else I should look out for?
     
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