Savvy Saving + Spending

I love shopping.

Which kind of contradicts my other goal of saving.

Not only will this blog be highlighting my lust list, but also how I try to afford the things I really want and enjoy by trying to cut corners in aspects of my life where I’m not too fussed.

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The extreme example of saving... dumpster diving for coupons! The cost of time wouldn't make it savvy saving for most of us.

Savvy Saving

I actively try savvy saving. That is, minimal effort (everyone’s definition of minimal is different) to maximise savings.

I enjoy the occasional Chai Latte, BUT if i bought it everyday at $3, that’s $21 a week which becomes $1,095 a year!

Now everyone is different, and would value a cup of Chai Latte (or coffee) differently. So if that $3 a day was worth it to you to keep sane, then that’s where you get your happiness. But I would much rather a big ticket item like an iPad, designer handbag, DSLR, or holiday.

If you can’t go without your daily coffee, even purchasing a size smaller or reducing the frequency can help you save, and you could could even treat yourself with nice jewellery or clothes.

Other examples of cutting corners (used by yours truly) – using public transport, living at home, and paying off the credit card within the interest free period.

Wherever you get your happiness from, I’m sure everyone has a certain aspect of their life where they could afford to do some Savvy Saving.

 
Savvy Spending

Savvy spending is being smart on what you spend your hard-earned dollars on. There is no point saving a ton of dollars if you can’t enjoy it. That being said, there’s no point throwing your money around if you don’t even get much enjoyment.

Therefore, you should aim to strike a good balance between being financially savvy as well as enjoying life.

Savvy Spending is being smart in your purchases. This includes:
  • Avoid impulse buying
  • Shop around (knowledge is power)
  • Asking yourself do I REALLY need/want this (Will i use it? Do I already have it?)
  • Buying it on sale (if you can)
  • Is there a cheaper alternative that will make you just as happy?
Now Savvy Spending is NOT all about dollars and cents. It’s not worth buying something cheap or expensive, then never wearing it. 


Owning Up

I definitely do NOT stick to this all the time – I’m only human! But making the effort (despite the occasional slip up) does count. Thanks to cutting corners I can afford my big trip to the USA & Canada, and it has definitely been worth the effort.

I will be adding more tips & tricks in future posts – so watch this space.

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