Spending Choices

Save More Spend Less

Need suggestions telling you how to save more spend less?

One simple fact here, with a simple answer. It’s all about YOU taking action in a way that suits your stage in life – and your willingness to commit to a change for the better. So it’s time to ask yourself a question.

"Am I prepared to make an effort to change my habits with money? "

If you said YES, that’s the best first step towards Saving More, by Spending Less!!


The steps outlined below, are intended to provide practical ideas to reset your thinking towards spending and set you on the journey of creating mindful spending choices with your money. 

7 practical tips to Save More and Spend Less

Calculating The Home Budget

1. Review all of your spending

And then create a budget. This first step is a key strategy that underpins your way forward with money. 

If you don’t know what you are spending, how can you plan to save more spend less? Grab a notebook to make a record of your daily spending, listing each item and it’s cost. You can also try a spreadsheet and then add some formulas to calculate weekly and monthly spending. 

Once you know how much you spend, you may be surprised on the type of items that attract your money. Check out a more detailed article we wrote recently – how we made better money decisions.

If you have successfully made the effort to construct a budget, it’s possible you feel more confident, secure, and in control of your finances. Surprisingly, there are many couples and families who don’t have a budget. There’s also people who claim to have a type of budget in place, that just tracks receipts. This clearly has no real structure to help control your spending.


Fortunately, there is budgeting software on the market to assist you sticking to a budget. Some even allow you to connect your bank account. Others offer features such as credit score monitoring or even investment tracking. Check out the 8 best budgeting software options. They have been reviewed around ease of use, are they custimisable, and price. 

2. Exit any lock-in contracts

Do this where possible – these contracts are designed for users to set and forget. Months or years can pass by, without potentially receiving full value or usage. 

Most companies now offer month to month options and fee free exits. More common types of contracts are Netflix, Cable TV, Gym memberships, Spotify, Foxtel, magazine publications etc.

 (NOTE we recommend checking on any exit fees BEFORE just cancelling)

3. Major ticket items

Revisit you automatic annual renewal of car/house insurances, mortgage and personal loan interest rates, phone plans, energy or electricity provider. 

These companies rely on you NOT reviewing the latest rates or comparing them with other products. Meaning you can end up paying MORE. 

Commit to reviewing these major expenses each year before the due date. Its a good strategy to contact your provider and have a friendly customer chat and ask if the price is their best one. 

If you don’t ask, you don’t get!

Credit cards and interest rates vary widely

Beware the hype around FREE reward points too, as they can just be an enticement to use your card more heavily ( with a larger annual fee) for small reward. 

Here is a list of the best Australian credit cards for 2023.  You will see first hand, the variety of interest rates, charges and rewards on offer. 

4. Always shop with a reason or end in mind.

DON’T enter the retail environment without a plan.


Spontaneous or sales shopping sounds great right. But you may be surprised at the credit card bill coming your way! 


Be clear and honest with yourself about what you need and not what you want.

Shop around for a better cell or mobile phone plan 

5. Phones and plans

The best prepaid phone plans will help you save on your cell or mobile phone bill. 


Most service providers now offer SIM only plans or BYO device plans, monthly plans, and unlimited calls/data for reasonable rates. So ask yourself, do you really need a new phone every year or 2 years?


Remember that phone manufacturers are after your dollar also. It may seem okay to have the latest phone all the time if your company is paying for it. But that’s probably unfairly dismissing the fact the company is wearing the cost. You tend to pay more attention when money for such an expensive item is coming directly out of your pocket! 

See the latest SIM only phone plans in Australia here as an example.


And here are the Top 10 mobile SIM card plans for 2023 in the USA

6. Unsubscribe from marketing emails

These emails always hit your inbox daily. They are definitely designed to make you spend your hard earned dollars. 

Plus they are trying hard to influence your emotional Shopper brain, not your practical Saver brain.

Let's talk about that daily caffeine hit?

7. Daily coffee is a must

At Spending Choices we get that! But spending anywhere from $3.00 to $5.00 each morning ( depending where you live) quickly adds up – a 5 day week @ $5 daily, will set you back $1300 each year. 

Using Nespresso pods is around $360 each year, and even cheaper with an instant coffee from home or a plunger coffee. 

May not seem much, but it’s around $950 in YOUR pocket or in your SAVINGS!

How do I stop wasting money

Lots of smaller regular savings, create a larger total saving. 

Remember when you first started at that new gym? Or tried out at basketball or baseball selections?


Bet your muscles hurt for the first weeks! You know why?  Because you were trying something new, and your muscles took some time to strengthen and become used to this new activity.


Changing your spending habits is no different – reps reps reps. Until that thinking muscle, your brain, gets used to a new way of how you think about money. 

how do i learn to save money

How much money was saved from these 7 tips? 

So without even detailing the potential major ticket savings from insurances, electricity, phone plans etc, the yearly savings above is already hundreds of your hard earned dollars.


And guess what – all you did was THINK ABOUT YOUR CHOICES and make some great mindful spending decisions.

And there’s plenty more you can do to create some extra $$ left from that paycheck. Imagine what else you can save!

Here's a great parenting skill! 

Looking at ways to save more and spend less is also a great opportunity to get together with your kids and start a conversation around being smart with money.Consider providing your kids with this knowledge, sooner than you had any awareness of it. 


Then observe and support the impact of them making their own mindful decisions! 


Here is a great starter article for teaching your kids about money.


It doesn’t have to be a complicated conversation. As this article outlines, it can simply occur as part of your daily interaction with them.

Whilst out shopping, discuss why you say no to buying something. Or include them in some of your budget discussions to give them an insight as to how you plan financially. 

You may already be having similar discussions, but look to grow the knowledge further – a rewarding parent moment. 

Read our other articles to continue changing your approach to money matters, and develop your mindful approach to spending.

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