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Re: SLOW-MO GR: Managing Money (19th to 23rd of October)

@featuringme I totally get behind getting the homebrand products instead of the name brand products to save money! It's something I do as well and while you might only be saving a few cents to a dollar here and there, it all adds up! on the topic of grocery shopping, I also find gearing your shopping trip around what's on special is also a great way of saving money. Personally before I do my weekly trip I'll browse through the specials catalogue of the supermarket I'm going to (Coles & Woolies both have their brochures online) to figure out what's on special and then try to fit my meal ideas around that Smiley Happy 

 

another thing that can help with saving money - particularly if impulse buying is your kryptonite - is to imagine someone is handing money to you vs giving you the thing you want to buy. Say you're impulsively thinking of buying a pair of jeans for $80. Then imagine someone is offering you $80 in one hand and the pair of jeans in the other - if you'd choose to take the money over the jeans, then you shouldn't buy the jeans. If you'd take the jeans, then you can be more sure you really want it. I hope this makes sense haha!Heart

 

another thing as well is to buy things secondhand, especially homegoods/furniture etc. saves a lot of money and is way better for the environment!

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Re: SLOW-MO GR: Managing Money (19th to 23rd of October)

Do you think it's hard to manage money? Do you struggle with it?

 

The answer to this really depends on my situation - how much money is coming in but also how I'm feeling. Sometimes if I'm down I'll spend more money/dip into my savings. Usually I don't struggle too much, but I have in the past thats for sure. 

 

What are your top tips for budgeting and saving money?

 

  • Have a goal to work towards 
  • If you can work out what your weekly income will be for a period of time (a few months is good). Then list every single expense you have - even self care costs, entertainment, eating out etc. Then see how much is left over once you pay for all your costs and you'll see if there's some money there to save. 
  • Cancel subscriptions/charity payments/expenses that you aren't happy to continue paying - it all adds up! 
  • Dump any change you have in your wallet into a savings jar as soon as you get home
  • Save any amount you can afford - even if  it's only $5 a week. It all builds up and helps to build a saving mindset. 
  • Don't hold on too tight to your savings, enjoy it!! It will help you want to continue saving in the future if you enjoy the benefits of your hard work every so often. 

 

What are some ways we can earn some extra cash?

 

There are lots of ways! 

 

  • Airtasker is my favorite. There are so many ways to make $$ there. From helping people build furniture to making resumes and more. 
  • Babysitting and dog walking is a good one that people always need. There are sites you can sign up to, or you can kick it old school and put posters up in your local area. 
  • If you have a random skill like, doing make-up well, writing, coaching/tutoring etc - don't be afraid to put the word out! I started pitching stories/articles to publications and was super surprised when I first got paid to do it
  • Upskill! There are always short courses going at TAFE that can help you build your skills real quick and break into new working spaces. 

 

Where can we get support if we're struggling with managing our money?

 

Struggling with money is so tough and it isn't always easy to ask for help. Know that everyone  is entitled to help and that while it can feel yuck asking for help, it is the only way to get by sometimes and that's okay Heart A few tips: 

 

  • Always ask your phone/internet companies for extensions/payment plans - try to let them know before the bill is due.
  • Electricity and gas bill assistance info here 
  • Organisations like Anglicare, Salvation Army and St Vincent De Paul all provide financial support to those struggling. These links take your to their help pages. 
  • AskIzzy is a really helpful website. If you click financial assistance and pop in your postcode it will show all the financial support in your local  area. 
  • Check out the local foodbanks in your area - try getting as much of your groceries done there and spending your money on the extras that you couldn't find. 
  • If you got to uni check out the support services there and see if there's anything they can do to help you. 


What would you say to someone who is struggling with their finances right now?

 

I would say that you are so strong - living with financial hardship is very tough and it can also be quite a bit of stigma around having this experience. Try not to take on peoples judgement of your situation, have your back and know that it isn't your fault. It does not mean you aren't a hard worker, or that you'll never get through it. From someone who grew up poor and struggled with it a lot in my early years, I promise you things can get better and there are people out there who care Heart