Where to Save (and Splurge) your Hard-Earned Money

Where to Save (and Splurge) your Hard-Earned Money

Managing your finances can be a tricky balance - one that toes the line between knowing when to tighten the purse strings and when to loosen them for a quality purchase. With the end of the financial year approaching, it’s the perfect time to reassess your spending habits, nab those in-reach items in one of the many EOFY sales, and of course, make the most of any tax returns coming your way. 

Here are a few of our favourite money-saving hacks for daily life, as well as the particular areas where splurging can really pay off in the long run.


Money-Saving Hacks

1. Cook at home

Eating out or ordering in can quickly rack up some big figures. By cooking at home, not only do you save money, but you also have control over the ingredients, which can lead to healthier eating habits. 

One of the best ways to get through another week of cooking is to meal-prep. We love a good weekend grocery shop and Sunday session of batch cooking to make things easier. Meal planning ensures you know what’s on the week’s menu, gets certain elements pre-prepared, and sets you up with plenty of lunches to take to work - and avoid the temptation to spend on takeout. It also reduces your food waste by using ingredients across a few different meals, which is only going to save you more.

2. Cut back on daily costs

With the costs of living only rising, there’s more than a few ways to cut back on daily costs. For starters, owning and maintaining a car is a big cost, and often unnecessary if you live in inner cities. If you have access to reliable public transportation, consider using it to save on petrol, parking, and maintenance costs, and if you do have a car, consider sharing it through peer-to-peer car rental apps like Uber Carshare to make some extra cash while not in use. 

Alternatively, carpooling with colleagues or friends can significantly cut down on these expenses, while also being more environmentally friendly. 

Back at home, electricity costs are higher than ever, so be sure to switch your lightbulbs for energy saving alternatives, while keeping lights and appliances off at the wall whenever they’re not needed. To cut back on power needs, let the warm natural light in during the day, then close up curtains and seal doors to keep the heat in for winter. Close doors to any rooms you’re not using to keep the heat in the spaces you’re spending your time in.

It also doesn’t hurt to shop around and do a price comparison to make sure you’re getting the best energy deal available - or to see if your current provider would offer a price match. The same goes for any appliance purchases - check their energy rating labels to get the most efficient items possible. 

For more hot tips to save on household costs, check out this sustainable checklist here.

3. Shop the sales & choose your brands wisely

Always be on the lookout for sales and special offers with your favourite sustainable brands, and wait for annual sale periods to buy household items in bulk (EOFY sales anyone?) Using apps and websites that track discounts can save you a significant amount on groceries and other essentials. ShopBack, for example, offers cashback on purchases made through their platform at various retailers. They also provide information on discounts and special promotions available at different stores.

And while choosing a quality brand you can trust is essential to stretch your dollar further, in some cases, a generic or supermarket brand can be a good alternative. Think items like over-the-counter medications and pantry staples, which are often identical ingredients, just priced lower. 

To save on the non-generic brands, however, and maintain values like low tox ingredients or Australian-made, you can see if your preferred brand sells in bulk. For household items like laundry powder or toilet paper, which you’ll always have use for, it can be more cost effective in the long run to buy in bulk or sign up to repeat subscriptions online.


4. DIY where possible

From home repairs to personal care, many tasks can be done yourself with a little research and effort. YouTube tutorials and online courses can teach you how to fix a leaky faucet, cut your own hair, or even create your own beauty products. We love the Low Tox Life hacks for making your own cleaning products with simple household items like vinegar or baking soda, not to mention easy, cheap and all-natural ways to give your skin some extra glow. 

It also helps to view these DIY hacks as a fun and rewarding way to save money, using creative outlets and activities to look after yourself. Because saving money doesn’t have to mean missing out. 


5. Take advantage of free activities

We’re lucky that in Australia, there are loads of ways to explore and enjoy free time without it costing a cent! From the national parks and beaches to rainforests and public parks, you can soak up the best of Aussie nature without ever opening your wallet.  

Meanwhile, there’s a few other tricks to access a wealth of free or low-cost activities that can be just as enjoyable as expensive outings. Many local councils offer free community events, festivals, and workshops that provide entertainment without the hefty price tag. Plus, if you’re looking for thrifty gifts for your loved ones, we’ve got a whole blog on gifts that are as cost-effective as they are thoughtful.

And if things like your gym membership are weighing on your wallet, there’s an abundance of online Youtubers like Yoga with Kassandra and other fitness instructors - not to mention vast outdoor areas that are free to walk or workout in - so you can stay active without all the costs.

Investment Items Worth Splurging On

1. A good quality mattress

One investment that will significantly impact your health and overall wellbeing is a high-quality, natural mattress. A good mattress supports better sleep, which is crucial for the mind and body to repair itself. The Natural Bedding Co organic latex mattresses are made from wholly natural materials, free from harmful chemicals that can actually impair your sleep, and offer durability to ensure you don't need to replace them for a while. Which is exactly what you want in a big ticket item. 

Whether taking advantage of current sales or using your tax return to invest in your quality of sleep and rest, we’ve got you covered in the low tox bedding category. Plus, if you’re wondering if you need to replace your mattress at all, here’s our guide on what to look for.

2. Quality footwear

Your feet carry you through every day, so investing in high-quality footwear is a wise choice. Good shoes provide better support and structure, reduce the risk of foot and back problems, and assist your form in physical exercise or movement. They also tend to last longer than cheaper alternatives, offering better value in the long run.

Look for brands that are known for durability and comfort, that come with a long list of good reviews from customers, and that offer reassuring deals like a money-back guarantee if they don’t work for you. 

3. Reliable technology

Whether it's a laptop for work or a smartphone, investing in reliable technology can save you money over time. Cheaper gadgets might cost less upfront, but they often come with shorter lifespans and more frequent (read: costly) issues that need fixing. 

Quality tech products often have better performance, longevity, and warranty coverage. Plus, right now as we approach the end of the financial year, it’s a good time to snag any extra items that can be deducted from your tax return come June 30. 


Focus your finances where it matters

Being financially savvy involves a balanced approach to saving and spending. By incorporating smart money-saving hacks into your daily routine, you can free up funds for more significant investments that enhance your quality of life. 

Making thoughtful decisions about where to save and where to splurge will set you up for a more secure and comfortable future. And remember - being a little thrifty and knowing where to save doesn’t have to mean missing out.