Reduce expenses and save money

We’ve all heard the saying you’ve got to spend money to make money, but sometimes, especially in a time of crisis, you need to reduce expenses and save money! With many people losing at least part of one income in a household, it can be time to look at your expenses and see if there are expenses you simply don’t need any more.

Look at the biggest expenses you have. Banks and lenders are back to offering deferral of repayments for a few months. With low interest rates, these deferrals can take the pressure off. Some banks are also waiving merchant EFTPOS fees for 2 months. Insurances can be another big one.

When did you last get a competitive quote or considered if it’s the right policy? Are you driving much in your car? I maintained full comprehensive cover for my car insurance, but I took a limited km plan and saved over $300p.a.

Electricity – you could change supplier or simply call your existing provider and ask if they can do a better deal. Remember – if you don’t ask you often don’t get! Reduce expenses Reduce expenses

Another big one is subscribing to services and forgetting about it or not even realising you signed up. I noticed a $5.99 charge on my Credit Card, odd but didn’t really pay attention. Then I realised it happened again the next month – it was for a VIP program I had no need for! Even cancelling saves $70 a year!

Reduce expenses

Looking for more ideas? Grab my free 30 page guide with 74 ways to save money! https://faqbusinesstraining.

Jane Tweedy 0490 102 194 [email protected] Western Sydney Business Centre