It can be all to easy to chuck anything money or finance related in the too-hard basket. But the truth is, spending a few minutes sorting out just one aspect of your finances can make a big difference.

If you’ve got 10 minutes to spare, complete one of these money saving tips and you could see instant financial results.

Empty your spare change into a jar
Then pop on the lid. Now every time you’ve got a few bits of shrapnel, chuck ‘em in. This is now your bonus money. Whenever the jar is full, you can either deposit it at the bank or use it to treat yourself.

Set up a high interest savings account
It’s probably been on your to-do list for a while, so pop open your laptop and set this up now. It doesn’t take long and there are heaps of added benefits – for example, some accounts have free overseas transactions (as long as you make regular monthly payments).

Make a grocery list
Check your cupboards and your fridge and then go through the week in your mind day by day to figure out what you need in your next shop. Obviously, this one only works if you shop to the list. Plus, if you only hit the supermarket once a week, you’ll make bonus savings.

Switch energy or insurance providers
New customers almost always get the best deal, so why not be one? Call up a rival electricity, gas or insurance provider, get a quote, and switch to them. Chances are, you’ll pay a lot less.

Set up your bills to come out automatically, or pay them early
Most energy providers give discounts for customers who pay early, or even just on time. You can take advantage of this by either setting up direct debits to come out early, or paying on time each month.

Pack your lunch for tomorrow
Whether you’re heading to work or just out for the day, a container of leftovers or a simple sandwich can save you up to $20 if you find yourself getting hangry when you’re away from home. Ditto for a byo water bottle and/or morning coffee-filled keep cup.

Sign up for spend tracker to track your spend
Most of the time, we engage in ‘mental accounting’ – we think we have a pretty good idea of where our money goes, but actually, the picture we have in our minds usually doesn’t match up with reality.

Sign up for a money-tracking app and you’ll know where you can easily make a few cuts.

You don’t get much in this life unless you ask. That’s definitely the case with your bank, your insurance company and utility companies. There’s a lot of money to be made there. And if we’re lazy, companies can maximise their profits.

Don’t let that be you. By playing hard to get (that’s shopping around for a better rate), you can have your loyalty rewarded.

Understand your spending

Before you storm into your bank or phone your insurance company, take time to work out how much you’re spending now and the number and nature of the units/calls/fees that go to make up your bill.

Perhaps you’re making numerous nationwide phone calls or eating up too many megabytes a month on your broadband plan and a prepay deal could save you heaps.

Compare and contrast

Once you know what you’re spending a month, how many kilowatts of energy you use, what the interest rate is on your savings and all the other data, you can get your mouse out and compare your current deal.

Shopping around is made easy with comparison sites. Or you can open a spreadsheet or get good old fashioned pen and paper out to do the comparison.  

If there’s a new kid in town that’s advertising everywhere consider calling, or getting a quote online and see if you could do better. Sometimes their deals simply can’t be beaten.  

Ask for a better deal

Now it’s time to pick up the phone and call your provider to see what they can do to keep your loyalty. “Can you give me a discount?” or “that’s too expensive” are very powerful words in the English language. Remember it costs them a lot more to gain a new customer than keep you. So try your luck.

There’s one really important rule when playing this game: that’s never be rude if you want a better deal. Call centre staff are human and will be motivated to help you if you’re polite.  

If the call centre operator doesn’t have the authority to give you a discount as if the supervisor has the discretion to give you a discount?” you might just be successful.

Find out if there are other ways to save

If your existing supplier can’t or won’t give you a discount, then move onto Plan B. That’s asking them for other ways to cut your bill.

These companies release new plans and accounts all the time and they can analyse your existing spending and find the best deal for your personal circumstances.

It may be that there’s a new bank account available with reduced fees or your accounts can be reorganised to stop you being pinged with honour and dishonour fees.

Be careful, however, that you read and understand the fine print. Does the new insurance policy you’re being offered have the same cover as the last or are you agreeing to a new fixed term contract that you can’t break?

If all else fails: walk

Sometimes you just need to vote with your feet. If the opposition is offering a better deal and you’re sure you’re comparing apples with apples, then move.  Hopefully your new supplier will value your new-found loyalty.

Do it all again

If you really want to win at this game, make a diary note to do it all again in 12 or 18 months time. Chances are there are better deals around again.

The information in this blog post is general in nature and does not constitute personal financial or professional advice. It is not intended to address the circumstances of any particular individual. We do not guarantee the accuracy and completeness of the information and you should not rely on it. Before making any decisions, it is important for you to consider your personal situation, make independent enquiries and seek appropriate tax, legal and other professional advice.

It’s a more common feeling than you might think. According to our recent survey, nearly one in 10 people say they don’t budget because they simply feel too lazy to. Beyond that, one-fifth started a budget but gave it up because they felt it was too difficult.

That’s understandable – and it’s okay. But it doesn’t have to be the way things go.

Use technology to help you budget

When you’re on a budget, how do you track your spending? Gone are the days of pen and paper, and gone are the days of spreadsheets. There’s a whole host of customisable technology available to you now that can help set a realistic, fair budget so you get what you really want.

Get the big picture on your budgeting

A lot of the time, people use budgeting tools from an individual financial institution – think your bank’s tracking app, or even your personal tracking of credit card spending. But the reality is, most Australians have multiple accounts or credit cards – not always from the same bank.

You need a budgeting tool that spans the whole spectrum of your spending – and that’s exactly what Money Simple can do.

Know what you buy, properly

Leisure, transport, utilities. Wants and needs. The typical categories in a budgeting tool tend to be limited, not showing you enough information about where your money really went. With Money Simple, you get proper insight.

Whether it’s dining out or personal care, the app can categorise your spending into much better-defined channels – you’ll see exactly when that self-care purchase turns into a binge.