Money & Banking
Best tips to save money now more than ever
The cost of living is going up. The minimum wage has been given a little boost. Petrol prices don’t appear to be slowing down any time soon.
So what can we do to save that little bit of extra money?
Today money expert Effie Zahos said there are plenty of ways to save money despite “inflation going crazy”.
The first thing Effie warns about are small expenses like multiple cups of coffees or a chocolate bar you buy while waiting to pay for your expensive fuel.
She encourages people to start making their own coffees or using the ones available in the office because in the end, it all adds up.
"You may not think $10 is a lot, but that's what it can do over time," she said.
Another thing to consider is investing your money in the share market. But Effie warns that it could be a hit-and-miss.
She explained that just putting money aside will only do so much and if we’re speaking long term then there is a “big difference between investing and saving”.
One final thing that Effie strongly advises against is spending money you don’t have.
Whether or not it's a small loan, the repayments may take too long to clear based on how you pay it back.