Welcome to The Hub
Your home for the latest news & views from the Communicate Better team.
Gain inspiration, tips & tricks from the experts, and updates on upcoming events & releases.
7 Simple Ways to Save Money
Jul 13, 2020
The future is more uncertain now than ever before. And while you may have some cash tucked away for a rainy day, here are some ways you can save more money.
Here, Communicate Better rounds up 7 pretty simple tips on how you can save for all your short- and long-term savings goals.
1. Track your expenses
The first step to start saving money is to figure out how much you spend.
Keep a record of all your expenses. This will include your regular monthly expenses and other situational expenses (like a last-minute holiday or an impulse purchase).
Enter all your expenses into a budget sheet or a free spending tracker application. By recording your utility bills, groceries, fuel expenses and other bills, you will be aware of exactly where your money is going.
Once you have it all figured out, you can decide the areas from which you can cut your expenses.
2. Carry a list
Ever go to the shop for a bottle of milk and come back with a whole week's worth of shopping? Yeah, say goodbye to impulse buying.
Always make lists. When you carry a list, you won’t be tempted to pick up random stuff that you may not need at that moment.
And never shop when you're hungry! You'll be more likely to waste money.
3. Set savings goals
Always set goals. Start by thinking of what you might want to save for - perhaps you’re getting married, planning a holiday or saving for retirement. Then figure out how much money you’ll need and how long it might take you to save it.
Set short-term goals (1-3 years) and long-term goals (4+ years).
Small, achievable short-term goals can be fun but can more importantly give you a psychological boost that makes the payoff of saving more immediate and reinforces the habit.
Long-term goals may rely on you making bigger investments but will ultimately be more rewarding.
4. Decide on priorities
Yes, we'd all like a new house and car... but setting priorities is important.
This means finding a balance between short-term and long-term goals and being content with your decision.
5. Do comparative price checks
Never be afraid to compare prices before a purchase.
If you are unaware of the average prices charged for items, you risk being overcharged.
Sure, this can be time-consuming, but it’s worth it in the long run when you’re saving money. Also, keep an eye out for discount offers and seasonal sales – this can be a great money-saving opportunity.
6. Stop relying on your credit card
It’s way too easy to swipe a card even if you don’t have the cash.
To avoid overspending on a card, try to stop relying on your credit cards. Whenever you go out for some shopping, carry only the cash that you will need. That way you will be automatically driven to stay on your budget and ignore the impulse to make unnecessary purchases.
7. Use a separate bank account for savings
The amount you save every month should be kept in a separate bank account.
Keeping the savings in a separate account will make it that much harder to accidentally spend it.
Tech or Treat! 5 Cool Halloween Costume Ideas
Oct 4, 2021
Our 5 best Halloween tech-inspired costume ideas will be hit at any office party.Read more
Magic Mike's on his Bike Again!
Oct 4, 2021
Mike completes Etape Caledonia bike ride 2021.Read more
iPhone 13: Everything We Know So Far (2021 Release Date, Features, Rumours, Prices)
Sep 8, 2021
When is the iPhone 13 being released? How much will the iPhone 13 cost? What's new about the iPhone 13? All your 2021 iPhone questions answered.Read more
Better solutions mean a Better business
Keen to explore what we can do for your business? Contact our team today.