Saving money, no doubt, brings a lot of benefits. Not only does it give us a chance to pay debts faster, but it also gives us a sense of security should we lose our jobs. When we save more money, we can also think of creative ways to bring more money by investing it in the sharemarket or open our own business. The sky’s the limit.
To save money, we need to either increase our income, decrease our expenses, or both. We need to identify which ones we can live without or at least find cheaper/free alternatives for them.
Below are 5 common things that can (should) be replaced with cheaper/free alternatives:
1. Cable TV
Price: The cheapest plan of a typical cable TV is AU$49 per month on a 12-month plan, which means $588 per year.
Why Do You Want to Replace or Remove It?
If you work or study full time, you want to reassess how many hours you watch TV per month. You may also want to reconsider using the hours to study a new skill, to improve your wellbeing, to improve your surroundings, etc.
Cheaper or Free Alternatives (Assuming You’ve Already Got an Internet Connection):
Youtube: free
Dailymotion: free
Netflix:$10.99 per month
Amazon Prime: $6.99 per month
Stan:$10 per month
Disney Plus: $11.99 per month
Free to air TV: Google your favourite TV website, most of them can be streamed for free
2. Paid Courses
Price: As an example, a basic photography course generally costs AU$100 for 3 hours.
Why Do You Want to Replace or Remove It?
Unless you are required to have an official certification, you should learn things for free as they’re everywhere on youtube. Here is how to do it.
Cheaper or Free Alternatives
Youtube
There are so many basic photography courses on Youtube. Just use the search box on Youtube “Basic photography courses for beginners” and you’ll find heaps.
Meetup
Meetup groups often offer free events. You can take advantage of joining the events. They’re often full of skilled hobbyists. For example, photography meetup groups have a lot of hobbyist photographers (in the photography group) and from personal experience, they’re nice people and very generous in sharing their knowledge about photography for free. Be polite and considerate when asking a question. Ask one or two questions instead of bombarding them with 20 questions all at once.
3. Gym Membership
Price: Gym membership costs AU$982 per year (in Melbourne, Australia) on average.
Why Do You Want to Replace or Remove It?
Ideally, you only join to learn how it’s done, and then do it yourself at home. Unless you want to make friends and socialise at the gym, paying AU$982 per annum for something you can do yourself at home is a waste of money.
Cheaper or Free Alternatives
DIY Exercise at Home
What people usually do is they learn the routines, get feedback from the yoga instructor, and after several classes, they just do it themselves at home.
The same applies to weight training at the gym: learn the routines, get feedback from the instructor, and after several months, quit the gym membership and train at home.
4. Newspapers and Magazines
Price: on average, a monthly subscription of newspapers paper delivery is AU$7.90 per week.
Why Do You Want to Replace or Remove It?
It’s expensive for something you can get for free or at least cheaper in a digital format.
Cheaper or Free Alternatives
There are numerous free alternatives that you can access on the internet. Most newspapers have a digital version and it’s a lot cheaper than their paper one.
5. Restaurant
Price: on average, a decent meal in a restaurant in Melbourne (Australia) costs AU$25, excluding drinks and desserts. If you want to get them all, it may cost around AU$50.
Why Do You Want to Replace or Remove It?
Unless you’re celebrating something special, eating out at a restaurant every week is a waste of money. True that a restaurant offers service and environment, but do you need those every week, knowing how much money you can save if you cook your own meal or buy a takeaway meal from a cheaper place?
Cheaper or Free Alternatives
DIY Cooking At Home
There are plenty of food blogs and free recipes on the internet, including Youtube. Not only cooking your own meal, but you can also experiment and have fun cooking new meals.
Takeaway Meals From a Cheaper Place
There are takeaway places that offer affordable, quality food. Indulgence doesn’t have to be expensive. Use your favourite search engine to find them and don’t forget to read the reviews too.
Picnic
All you need is a good park, with a picnic rug, your favourite drinks, and your own meal or takeaway meals to have a good picnic.
