How to save money

50 easy and practical money-savings tips that will help you budget and save money quickly.

Updated Jul 12, 2022. What changed?

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When it comes to saving money, you can do two things:

1. Make your money go further.

This includes things like budgeting, tracking your spending and decreasing your living costs to build up your savings. On this page we've included 50 money-saving tips to help you find places to save.

2. Use your existing savings to grow your wealth.

You can grow your savings by putting it somewhere where it generates a return, such as a high interest savings account, ETF or Finder Earn.

Want a better way to save?

Save money, track your spending and grow your wealth with the Finder app. Pop in your phone number below to get your download link.

50 money-saving tips

We've got some great tips on how to beat the rising cost of living. These simple hacks will help you save money, make your money go further and earn some extra income on the side. We've broken them down by category:

Tips to save money on food and drinks

how to save money on groceries

Tips to save money when shopping

You might not know this, but Gumtree has a section called "Freebies" which is exactly as it sounds: people giving away stuff for free! Sure, there's a lot of junk in there. But there's also a lot of good-quality stuff, too. A lot of people can't be bothered selling things when they're moving so they'll put them on Gumtree for free, to get them off their hands. You can find anything from furniture and appliances to clothes, books, movies and even pets.

How to make some extra money

For more inspiration on potential side hustles, check out our full guide.
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How to save money on products and services

With a high interest savings account, your money will earn interest each month, plus you'll even earn interest on your interest thanks to the beauty of compound interest. If you've got your money sitting in a regular transaction account, switching to a high interest saver that pays bonus interest will help you save. compare savings accounts below.

Promoted

Savings account offer

Promoted

2.60 % p.a.

max rate

0.05 % p.a.

standard variable rate

Maximum rate: 2.6% p.a.
Standard variable rate: 0.05% p.a.
Monthly fees: $0

Go to site More info

Ongoing, variable 2.6% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $250,000.

1 - 6 of 6

Name	Maximum Variable Rate p.a.	Standard Variable Rate p.a.	Intro Period	Monthly Max Rate Conditions
Westpac Life (18-29 year olds only) Finder Award Finder Award	2.75%	0.65%	Ongoing	Grow your balance 5 debit card purchases Grow your balance , 5 debit card purchases.	View details	Compare	loading Fetching your data...
Virgin Money Boost Saver (25+ year olds) You can earn up to 3.1% p.a. by enabling the Lock Saver Feature.	2.80%	0.05%	Ongoing	Deposit $2,000 5 Go account purchases Deposit $2,000, 5 Go account purchases. You can earn up to 3.1% p.a. by enabling the Lock Saver Feature.	Go to site View details	Compare	loading Fetching your data...
Rabobank High Interest Savings Account	3.10%	2%	4 months	N/A N/A.	Go to site View details	Compare	loading Fetching your data...
MyState Bank Bonus Saver Account Finder Award Finder Award	2.60%	0.05%	Ongoing	Deposit $20 5 debit card purchases Deposit $20, 5 debit card purchases.	Go to site View details	Compare	loading Fetching your data...
Virgin Money Boost Saver (18-24 year olds) You can earn up to 3.1% p.a. by enabling the Lock Saver Feature.	2.80%	0.05%	Ongoing	Deposit $1,000 5 Go account purchases Deposit $1,000, 5 Go account purchases. You can earn up to 3.1% p.a. by enabling the Lock Saver Feature.	Go to site View details	Compare	loading Fetching your data...
Virgin Money Grow Saver You can earn up to 2.3% p.a. by enabling the Lock Saver Feature.	2.00%	0.05%	Ongoing	Grow balance No more than 1 withdrawal Grow balance , No more than 1 withdrawal . You can earn up to 2.3% p.a. by enabling the Lock Saver Feature.	Go to site View details	Compare	loading Fetching your data...

Compare up to 4 providers

Save money on your finances

Save money on your daily lifestyle

20 easy ways to save more money [VIDEO]

Pictures: Getty images

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Alison Banney

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Alison Banney is the banking and superannuation editor at Finder. She has written about finance for almost 10 years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks and super funds. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.

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How to save money

50 easy and practical money-savings tips that will help you budget and save money quickly.

In this guide

Banking

Investments

Banks

1. Make your money go further.

2. Use your existing savings to grow your wealth.

Want a better way to save?

50 money-saving tips

Tips to save money on food and drinks

1. Do the grocery shopping at night

2. Get a coffee machine

3. Get your kitchen staples at Aldi

4. Buy wine and beer in bulk

5. Try Meat Free Monday (or Tuesday, or Wednesday!)

6. Buy takeaway coffee in a reusable cup

7. Learn how to cook

8. Take a shopping list when you do your weekly shop

9. Get creative with your leftovers

10. Pack snacks when you're out and about

11. Buy in bulk

12. Cut down the alcohol intake

Tips to save money when shopping

13. Check online before buying in-store

14. Shop at op shops

15. Get free stuff on Gumtree

16. Use coupon codes

17. Leave items in your cart when shopping online

18. Wait a few weeks before making a purchase

19. Don't buy brand-name prescriptions

20. Suggest secret Santa at Christmas time

21. Borrow from family and friends

22. Unsubscribe from all those marketing emails

How to make some extra money

23. Rent out your spare room

24. Rent out your parking spot

25. Rent out your car

26. Join the gig economy or get a side hustle

27. Sell things online

28. Look after other people's pets

29. Tutor in your spare time

How to save money on products and services

30. Make extra repayments on your home loan

31. Switch to a high interest savings account

32. Take advantage of digital savings tools

33. Compare and switch phone plans

34. Avoid overseas transaction fees

35. Share streaming services with friends

36. Don't waste money on ATM fees

37. Save money when booking hotels

Save money on your finances

38. Set yourself a (realistic) budget

39. Claim eligible tax deductions at tax time

40. Claim the cost of your tax return

41. Find your lost superannuation and bring it home

42. Negotiate your salary

43. Pay yourself a regular salary

Save money on your daily lifestyle

44. Go to the library

45. Use energy-efficient appliances

46. Don't drive erratically

47. Use a hot water bottle

48. Adopt a pet

49. Take advantage of early bird discounts

50. Compare everything

20 easy ways to save more money [VIDEO]

Alison Banney

More guides on Finder

Ask an Expert

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