Home Best tips 15 Ways To Save Money In 2015

15 Ways To Save Money In 2015

written by Shelley Marsh 11/12/2014
Ways To Save Money

As most of you know my day job is to teach social workers about money so that they can then help their clients with their financial issues.  A big part of the course is exchanging ideas on ways to save money.  I love to hear everyone’s tips for saving money and it is one of my most favourite parts of the course.  So, given I have heard heaps of ways to save money, I decided to compile all the best ones into this list.  I am not suggesting you do all of the things on the list, but take a look and use the ideas that make sense to you.

  • Use a separate bank account that is hard to access.
  • Direct debit a set amount into your savings account as soon as you get paid.
  • Get your employer to directly put part of your pay into your hard to access savings account so you never see it.
  • Never spend a gold coin. As soon as you get one put it into a money box that you need to a can opener to open. This really adds up over a year.
  • Never spend a $5 note. Again put it into a money box that you need a can opener to open and be surprised how much it adds up to by the end of the year.
  • The night before you get paid clear out all the notes from your wallet and put them in a money box.
  • When you get paid put any excess money you have left in your account directly into your savings account.
  • If you use the internet to access your savings account try changing the password to your savings goal – such as “Holiday to Thailand” or “House deposit” so that every time you access the account you are reminded as to why you are saving the money in the first place.
  • Check your spending leaks. A spending leak is something that you do regularly which you could do differently to save money.  For example, on in my case I calculated I could save $2,184 per year simply by bringing my lunch to work and making my own hot chocolate in the office.  A huge figure, especially given I only work 3 days per week!!  To find out more click
  • Track your spending by either writing all your spending down on a piece of paper or using MoneySmarts free TrackMySpend app. This will let you know where your money is going and indicate places where you can cut costs.
  • Buy vouchers with excess cash in your wallet when you are at the supermarket. Stash them somewhere safe and see how they add up over a year. Just watch the expiry dates.
  • Shop from your cupboard and spend only $21 for the week on groceries. If you are anything like me then you have enough food in your cupboards to last quite some time!! Sometimes I think I am a ‘doomsday prepper’, without the weapons or the underground shelter, but on the food front we will be fine in an emergency!!! Shopping from your cupboard means you make recipes for a week from what you already have then use a small amount of money, say $21, to by the extras you require.  Then you put any money that you would have spent for the week on groceries into your savings account or money box.
  • Sell things and put the money directly into your savings account. I recently raised $440 buying selling clothes and toys that my daughter no longer used. It was really easy!  To read more about it please click here.
  • Stash any windfalls you might have into a hard to access savings account before you have a chance to spend it! Maybe your tax refund?
  • Pay excess on your mortgage, if you have one, then use a redraw to get it back if you need it. This will not only save you interest on your loan but shave years off your mortgage, meaning you will be owning your own home sooner.

There are heaps of different ways to save money.  You might think these are just little things but I promise you it is these little things that make the difference.  I had a single mum in my class who saved every $5 note over a year and took her kids on a ski weekend with $840 in $5 notes.  So give the tips that you think suit you a try and you might be surprised how much you have by the end of 2015!!

If you liked this you might also like:

Simple Savings Ideas That Absolutely Everyone Can Use

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How To Pay Off Your Mortgage Faster

5 Financial Tips You Need To Know Now You Are A Parent



The information contained in this post is general in nature and does not constitute financial advice.  Please see your financial advisor for advice specific to your individual circumstances.

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Lydia C. Lee 12/12/2014 at 7:06 am

That password idea is brilliant. I’ve been selling things this xmas and my ebay is going off! Stuff that’s been listed all year are suddenly selling…its fab!

Jody at Six Little Hearts 12/12/2014 at 7:29 am

I like that $5 tip! Might have to try that one.
Got to clean out my pantry too and do some kind of food challenge to empty it!

Bec @ Seeing the Lighter Side of Parenting 12/12/2014 at 7:55 am

Some fabulous ideas. I set up savings accounts for my kids when they were six months old and we collect coins and deposit them. Just from this and a couple of small $60 windfalls plus a $10 pw direct debit my 4.5yo has about $2.5k!! We’re planning to use it for extras when he’s at school, e.g. Learning an instrument or going on a special camp.

Amanda @ Cooker and a Looker 12/12/2014 at 9:35 am

I’m a doomsday prepper too Shelley.
We have separate money boxes here – the girls get Daddy’s silver coins in their piggy banks and Mummy and Daddy put the goodies in our holiday tin. I was shocked at how much was in there last time we went on holiday!

Great ideas for saving.

Do you have any clues as to the best way to save money (in an account) for the kids?

Ai Sakura 12/12/2014 at 10:03 am

We’re currently doing a few of these but I like the $5 tip too. Will try that out next year!

Ai @ Sakura Haruka

Leanne @ Deep Fried Fruit 12/12/2014 at 1:34 pm

Great tips!
My 10 year old son has just opened up an EBay store which is turning into a great way for him to make money. My 15 year old daughter has taken to selling her old clothes on Facebook to friends and acquaintances. It’s working out well for Mummy and Daddy’s pocket as they are off buying their own things!
Leanne @ Deep Fried Fruit

Bele @ BlahBlah 12/12/2014 at 2:11 pm

What another great list. Thanks for the post on selling stuff. It prompted me to finally getting around to selling some of my unwanted stuff. I’m already at $300 and still have a pram to sell.

Bec @ The Plumbette 12/12/2014 at 4:45 pm

I love the password idea Shelley! So many great tips here! I love it!

Kylie Purtell - A Study in Contradictions 12/12/2014 at 6:03 pm

Some of those are such good tips. My Mum gave us a small money box filled with gold coins a couple of years ago and there was over $300 in it! We still have close to $50 of it left as we have only used it for buying things like bread and milk in between grocery shops, or if we are going out and I think I might want to buy a coffee I’ll grab a few bucks from there for my treat. It has saved me in a pinch between pay days, having that coinage to grab the bread and milk, and whenever we have gold in our wallets we pop them in there so it is always getting small replenishments.

And I agree on paying extra on the mortgage and having the redraw. We pay our mortgage weekly (to also save on interest) and pay above what we need to, and the extra thousands of dollars in the redraw has come in handy a few times, most notably when we needed $1000 straightaway when our hot water died suddenly, two weeks before Zee was born last year!

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Larissa @heylittlespender 30/12/2014 at 11:07 am

Great tips – the simple ones are the best I reckon, so thanks for the reminders!

I reckon I definitely experience money leakage too. It’s great to splash out now and then without thinking about it, but I’m sure if I bought my groceries in one hit I’d save a fortune. I’ve started cycling to work and that’s quite a good way of saving as well, as long as you make sure you actually pocket the money rather than spend it.

This year I’ve written a ‘letter to my future self’ via a free website called futureme.org. It helped me think about what I want to achieve this year. The next step will be breaking those big goals into little ones (ie, save $50 a week for holidays or whatever). Happy new year!

Melissa Chambers 04/01/2015 at 9:08 pm

Just came across your blog (via Aussie Blogs to Love) and I can already see me using it a lot this year as I am on a mission to spend less. Love this post too!

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