Mum-of-two and popular blogger, Olivia White, shares her tips on how she saved an impressive $30,000 over the past 12 months.
The House of White founder set a goal with her husband to save money to build a new shed and study.
‘As a self-proclaimed nerd and numbers girl I am pretty excited to share this with you,’ Olivia wrote on her blog.
“We began our journey with no other debt other than our home loan. We don’t have credit cards, loans or any outstanding debt on things like cars or department stores.
‘We also don’t live in a capital city, we live regional! And while distance wise it has its drawbacks – it does afford us to have a smaller mortgage. So please keep this in mind as I know everyone’s circumstances are different!
‘Everything I am sharing is our own experiences and opinions, but should you want any financial advice please seek this from a qualified financial adviser or institution.’
Mrs White said there were five key things that were key to their saving success:
Her first tip – Use spreadsheets and log every expense in the household.
Her second tip – Plan meals and supermarket trips.
Olivia planned out a week of meals before the weekly shop and did so by picking five recipes and shopping for specific needs only.
The third tip – Work out a weekly/fortnightly payment for all the utilities – electricity, gas, water and rates.
She said this allowed them to keep their bills in credit and prevented any ‘bill shock’ or large amounts of money leaving their account at any one time.
The fourth tip – A ‘side hustle’ for extra money.
Ideas Mrs White came up with included small side businesses, selling clothing on eBay or selling unwanted items on Gumtree or Facebook marketplaces.
Her final tip – Don’t ever compare!
“Especially in the age of social media and the constant bombardment of everyone’s lives in your feed. It can be easy to get caught up and think you want/need something just because you see what someone else has.”
A bigger house? A Fancier car? A lavish holiday? Do you really need it?
Share your comments belowWe may get commissions for purchases made using links in this post. Learn more.