Lower price promise saved on a new cistern

I saved an easy $40 recently on a new cistern by price shopping between competitors! I first checked the prices at both Bunnings and Mitre 10 and found the latter to be the dearer option. Seeing as they promise to better the lower price on the same item, I showed them the proof of the cheaper Bunnings price. They did indeed hold true to their promise and charged me another 15% less than the lower Bunnings price!

Different name, different attitude to saving!

A simple change of tactic can make the world of difference when it comes to getting the family on board with saving! Our family recently did a $21 Challenge. To begin with, I was talking with my daughter, when the children started carrying on about the challenge, (the eldest child in that household in 21!). The other adult in the house said nothing, but his expression said everything. What was I going to do to get them on board? I had a lightbulb moment and told them that I was playing SURVIVOR, with help from my fridge, my freezer and my garden. Did I get any more criticism? No way. What I got was discussions on which family member would be able to survive with what is available at home, and for how long. This discussion went on for a week or more. I heard no more complaints and we spent just $2.99 over a fortnight! Next goal is a $41.00 challenge for a whole month. I just need to set a date, and get my support team going again!

$25,000 saved in three years

I was renting for nearly three years on a medium salary and really just living day by day. I decided that I wanted to get out of the renting cycle, so thought I would become educated financially. I started reading the 'Rich Dad, Poor Dad' by Robert Kiyosaki series of books and immediately I saw there was no way out unless I changed my psychological views dramatically and acted on them.

I started a savings plan by setting up three bank accounts - one for daily spending (which gave me a small amount of easily accessed money), one for bills (which I used to pay credit cards and so on) and one for long term savings (through ING Direct) which was only to be touched for large goal purchases.

I requested my employer split my pay 30% in the daily and 70% in the bills accounts. Once the 30% ran out, I just sacrificed a bit more and went without the usual luxuries until the next pay. I soon found that I would spread the money out for longer until I hardly ever ran out. At the end of each month (or whenever the deadly credit cards had been paid), whatever balance was left in the bills account was transferred to my savings account.

I am happy to say that after three years, I have managed to save nearly $25,000 for a deposit for my new home, whilst accumulating 5.25% interest!

Handmade gifts for under $2.00

This tip is from my Mum!

We love Christmas and everyone loves giving and receiving presents. When my mum told me that she had to buy a gift for each of the eight women in her craft group I nearly died! I couldn't understand why they didn't each buy one gift and each receive one random gift.

But was I suprised - they have rules. The gift must be kept to $1.00 and under no circumstances is it to exceed $2.00. You would not believe some of the beautiful gifts that my mother received - handmade decorations for the tree and house that would have cost $20 or more if bought at a shop and an inexpensive hand towel trimmed with a strip of delicate, intricate quilting that used up the creator's scraps.

And there was more. My mum was lucky enough to stumble onto a Royal Doulton Sell-out where she picked up eight tiny dishes, all different and delightful for $1.00 each. She made shortbread biscuits in star shapes and tied them together in pairs like buttons. Wrapped in Cellophane, they made another fabulous gift.

It proved to me that gift giving is not about the cost of the gift, but how hard you make the money work that you have worked for. In years gone by I used to do my Christmas shopping for family and friends on a budget of between $2.00 and $5.00 a person, and I never left anyone out and everyone appreciated their gifts because a lot of thought went into them. I think those gifts meant more than an expensive item bought on Christmas Eve as an afterthought.