Save Money and Fight Inflation With These Tips

Let’s face it, Australia is currently in the midst of a cost living crisis. Not only have our shopping basket prices spiked significantly, but so have our petrol tanks. Let’s not forget about the exceedingly high cost of housing.

There’s no denying that Australians are facing the pressure of inflation, and it’s one of the reasons why we want to offer unbelievable savings with our data plans. Here at Circles.Life we’ve taken the liberty to put together some tips that’ll help you with the price gouging that’s happening in ‘Straya. Hang tight, it’s gonna get rocky.

Start with a budget

The idea of budgeting isn’t a foreign concept, but it’s incredibly important as it forms the basis of both your spending and saving.

• Get an easy budget template from Google Sheets; we recommend the “Monthly Budget” option.
• Then, go ahead and take a look at your bank statements before coming up with reasonable estimates as a starting point.
• Once you’re done with the template you’ll have a great overview of your expenditures!

Save for big-ticket items

This is a big one for most. One moment you’ve got plenty of cash to spare and the next you’re back in the red.

The culprit? Big-ticket items like a car registration, a tax payment or something else that you’ve forgotten about.

To make things more manageable, you’ll want to start setting cash aside for these payments. List these items in your budget, and divide them amongst the year so you’re not having to pay it all at once.

By chipping away at it through the year, you’re smoothing out your expenses and setting yourself up for success in the long run.

Opt for annual payments

This is an interesting one that may not suit everyone, but you can consider changing your subscriptions from a monthly to an ‘annual’ payment option.

Say for example, you’ve got Disney+ which costs $11.99 per month and $119.99 for the year. Going for the annual option works out to be $10 per month - that’s almost 17% in savings.

While it might not be ideal to fork out $119.99 at once, savings can add up and that 17% could be a lifesaver in the long run.

Keep track of all of your regular payments because it’s easy to forget what you’re paying for. (Thankfully, when it comes to data plans, you won’t be stuck in a 2-year contract with Circles Life.)

Look for discounted alternatives

How many times have you gone to Woolies, Coles or Aldi and bought the same items without taking a look at the prices of other brands? While we might be creatures of habit, that habit might be costing you.

Whether it be groceries or random items that you need for your kitchen, take a moment to check out other brands and see if there’s a cheaper alternative.

Save money on transportation

If surging petrol prices are blowing your budget, one of the first things you could do is to limit your driving as much as possible. Try and run your errands all at once instead of taking multiple trips, or use transportation options such as public transportation or biking.

Have to drive? You may be able to save at the petrol station by taking advantage of a fuel savings program. Most petrol stations have a rewards card of sorts that’ll help you earn points or cash back on petrol.

Earn money on your savings

Most saving methods can’t outpace inflation, but it’ll at least help with reducing the effects of inflation.

With interest rates going up, any cash saved can help earn a higher return. If you’re able to, try and set aside a certain amount of money every month in your savings.

Regardless of whether you earn a large amount of interest, it’s an excellent way to reward the future you.

Plenty of ways to save money

There’s plenty of ways to save money, it just requires a good amount of planning and discipline. Start with creating a budget and work your way through the list to see what you’re willing to cut out.

While the above is a great start, you also shouldn’t be paying a hefty amount on your telco. Unlike some big telcos, here at Circles.life we’re got reasonably priced plans and we’re also supporting Aussies feeling the pinch from the increased cost of living by freezing our plan costs across the board for 18 months.