Savings tips from the Money Savvy Challenge

Information verified correct on December 8th, 2016

We asked you to give us your number one, savvy money-saving tips when you took our Money Savvy Challenge.

We've since received thousands of responses. We thought it would be unfair to horde all of your words of wisdom to ourselves, and so we're sharing. Here are all of the savviest money-saving tips we could wish for, written, shared and lived by you guys!

Pack a lunch for work each day.

Want something? Wait 3 days. See if you can get it cheaper or maybe you change your mind anyway!
Becky D.

Log all spending transactions over a 6 month period, establish average monthly expenses and follow a budget.
Sheldon J.

Buy only what you need not what you want.
John H.


Compare prices.
Leanne M.


The best way to save money is to invest.
Tien T.

Have a budget to minimise impulse spending.
Brian B.

Self control, budgeting and bargain hunting.
Phil S.

I use ING paywave for their cashback rebate when buying anything (even coffee) saving about $300/ 6 months.
Annie L.

Keep funds in offset as long as you can - put groceries on credit, and pay the balance on the due date.
Judith D.

Cut back on convenience foods like fast foods and instant meals and make extra at home to take to work.
Ritchie C.

Use reward credit cards to pay for expenses and always pay off the account balance!
Mabel C.


Do your research, don't be afraid to ask questions and always ask for the best deal.
Amanda J.


I live by a 10 seconds rule. If I want an item I haven't planned to buy, I take 10 seconds to think about it.
Cara T.

Yearly, I review all my accounts and also try and look for better deals in credit cards insurance, etc.
Jessie K.

Switch energy and gas companies for a better deal

Balance transfer credit cards at 0% for 12-14 months.
Nick M.

Pay your mortgage weekly, you pay much less interest.
Caitlyn A.

Spend less than you earn; invest the difference.
Boris B.

Compare around online and only buy the essentials.
Collin G.

Save 5% of your income at least.
Naveed K.

Invest early in life to take advantage of the power of compound interest. Avoid debts.
Michael H.

Don't spend money on junk! Why buy new when theres places like eBay and Gumtree.
John D.

Pay off your highest interest debt first and roll remaining debt into a low interest loan.
Jordan S.

Be consistent in saving money regularly, and always have an affinity to learning in terms of managing money effectively.
Winnie D.


Seperate your expenses into categories - work out basic necessities such as food and bills. Plan a budget and stick to it. Buy food or household items in bulk or during sales specials, try to avoid paying full price. Substitute brand names for generic with basic items.
Katie T.


Goal saving! Every time I go to the gym I add $2 to my piggy bank :) Then when it's full I have spending money for shopping.
Sarah B.

When you are paid, put $20.00 in a savings account with little to no account fees first and don't touch until needed.
John P.

Loose change in a jar

With each fortnightly pay I send money off to all essential bills, they don't creep up on me and I know what is left.
Stephen M.

Diversity of investments e.g. savings, housing, shares and do your research.
Shaun P.

Have a separate saver account and directly put 10% of your wages to save.
Danielle T.

Take an interest if you want to earn interest!
Claire C.

Budgeting is the most important thing. Always ask yourself ... Do you need it?
Christine C.

On Wednesdays, switch Facebook for catalog trawling. Write items in notes, be inspired for setting meals.
Clinton M.

With my mortgage I have a fee free savings account. No transaction charges at all or monthly fee.
Sharyn B.

Leave your money in a savings account and use a credit card with an interest free period instead.
Michael T.

Buy a travel Bodum travel coffee plunger for work. You will save $3+ per day on takeaway coffees.
Alexandra M.


Use an offset account and a credit card. Pay bills with 55 day interest free card and pay balance on the due date. Use interest free for major purchases and keep funds in the offset account. Avoid paying as much interest as possible. Earn no interest but reduce mortgage interest.
Christine C.


Break your income down in the following manner: 60% expenditures (live within your means), 20% savings and 20% reinvestment.
Lauren C.

Borrow for adding value to an existing investment property in pursuit of a higher income, eg. convert a laundry into a bathroom.
Graham S.

Open up a HISA account to save for big spends such as a holiday or car purchase
Mark P.

Sell your dryer and use a clothes rack in front of the heater – I saved thousands.
Jason B.

Pay you credit card outstanding balance before the due date to avoid interest charges.
Leni R.

Its not how much you earn, it's how you spend it.
Sonni B.

Save in a sneaker

Ensure you make lunches or take leftovers and don't buy coffee out.
Camden S.

Compare credit card offers and transfer balances to interest free credit cards.
Bev G.

Think before you buy - if you don't need, like or want it then don't buy it.
Jo C.

Have three different accounts. Divide your salary into: spending, bills and savings.
Melissa S.

Buy reduced skim milk. You can freeze it in ice cube trays for a prefect, healthy milkshake.
Mel O.

Never buy on impulse. ALWAYS research more, theres bound to be a better deal out there.
Gareth B.

Open a saving account and deposit $50 a week.
Nicholas L.

Pay more than the minimum on monthly credit card bill, preferably total amount owing.
Keith D.

Keep track of your spending and reduce any unnecessary spending in the future.
Genie L.

Live within your means! Don't spend big when you can't afford the repayments!
Michelle S.

Do a monthly / weekly budget and ensure you know where your money is going.
Steve R.

Never spend $5 notes

Put as much as possible into an Industry Superannuation Fund.
Ross M.


Shop around online or using catalogues before making any purchases, especially big ticket ones!
Jenny S.

I refinanced my home loan to save over $5000 per year and swapped insurances to save over $2000 per year.
Kathleen C.

Take time to learn what you want to buy and shop around globally before type in your card number.
Lei W.

Consolidate all your mortgages and get an offset account.
Gus O.

Price match everything!
Rebecca M.

Pay your mortgage weekly to reduce the interest payable.
Sandra P.

The best way to save money is to use a credit card with rewards.
Muhammad K.


To help combat monthly salary and initial credit card debt transfer $10 per day from a fee free account to credit card. We didn't notice the $10 from our daily budget, but by the end of the month we had paid approximately $300 per month on top of min repayment on card. Once credit card debt was paid off, we can now transfer $10 per day into a high interest eSaver type account. This means we can now save twice the amount per month once added to the existing monthly savings that we budget for. We found this was a great way to reduce credit card debt, and save a nest egg, whilst not feeling it much from our monthly pay packet!
Susan G.


lift up the petrol pump

Visit the supermarket mid morning/late night to pick up discounted perishables (meat, dairy, breads)
Brendan C.

Set a budget for all known expenses, have an emergency fund and leave $50 per week foe all those little things that pop up.
Andrea E.

Look through catalogues and buy in bulk when cheap.
Tanya L.

Always take a list and don't grocery shop when hungry.
Leonie B.

Pay your bills first. Don't buy things you won't use.
Becky D.

Pay your credit card balance in full each month
Irene P.

Keeping track of my money on my phone and having a budget.
Jessica C.

Put it in an account where you can not with draw or access.
Larissa L.

Invite friends over instead of going out!

Buy fuel on the cheapest cycle day can save 14 cents a litre.
Chris M.

RankNameStateTime
1.Lev S.NSW0:39
2.Pal S.NSW0:58
3.Nathan N..WA0:59
4.Thanh N.WA1:02
5.Nikki R. .WA1:07
6.Angela M.NSW1:18
7.Jan B..NSW1:20
8.Jim W.NSW1:22
9.Thom F.NSW1:23
10.Payal P.VIC1:37
11.Kate A.VIC2:11
12.Sarah P.VIC2:21
13.Sarah S.SA2:22
14.Brian K.VIC2:23
15.Rebekah P.TAS2:33
RankNameStateTime
16.Grant I.VIC2:34
17.Jo C.NSW3:09
18.P. B.NSW3:34
19.Grant M.NSW3:43
20.Ratnanantham R.NSW5:42
21.Keith D.VIC5:59
22.Rita C.VIC6:12
23.Niruthapalan S.NSW6:18
24.Pieter V.SA12:37
25.Judith D.QLD14:32
26.Katherine D.VIC17:29
27.Carl D.QLD19:36
28.Shakira N.NSW21:09
29.Jenny S.WA24:45
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