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· Posted on
February 21, 2024

Maximise your savings - even when you’re spending

Saving money ain’t all about penny pinching and bean counting.

What's the key learning?

  • There are ways to maximise your savings - even when we’re spending
  • Cashback apps partner with retailers in exchange for a commission fee, which gets split with us, the customer
  • Round-up features round up the value of a purchase to the nearest $1 (so an extra 40 cents to $5), and save (or invest) that amount
  • If there’s something you really want, try not to buy it full price. Instead, buy it on sale around the key events
  • Try to wait a week before you buy the item you want.

Wanna win a $50 IKEA voucher? Read this article...then play our savings quiz.

Saving money ain’t all about penny pinching and bean counting (and never paying your mates back for that dinner they shouted you). 

Obviously, we have to spend money sometimes. And of course, we want to spend money sometimes. And that’s totally fine! 


But, there are ways to maximise your savings - even when we’re spending. Luckily, in 2021, we have tonnes of tips and tricks at our fingertips to help us do just that. Let’s run through a few. 

Use cashback apps

By now, many of us would know of apps like ShopBack and CashRewards...but how many of us are actually using them?

Cashback apps partner with retailers like The Iconic or Uber Eats. Then, those retailers pay the app a commission everytime a customer makes a purchase through the app...and that commission is split with us, the customer.

So if you’re going to buy that $200 Nike jacket, ya may as well pocket something from it. 

Note to self: This doesn’t mean splurge on new things just because of a lil cash back. It’s just a responsible way to purchase something you already needed.

Round up apps

Round up apps help you save without even thinking about it. Essentially, if you purchase a $4.60 coffee, the app or bank will round up the value to the nearest $1 (so an extra 40 cents to $5), and save (or invest) that amount.

Up Bank lets you turn on ‘Round Ups’ to send the round-up value to your bank account. Also, micro-investing account Raiz also does that. 

I know 40 cents doesn’t sound like much, but if you’re buying a coffee everyday, you’re saving an extra $2.80 a week, which works out to around $146 a year. Not bad for something you’re not even thinking about it!

Hang out for the sales

Unlike the good ol’ days where you had set sales seasons (i.e. Boxing Day, EOFY) there’s a sale every month.

We’ve got Vogue Online Shopping Night...Click Frenzy (twice a year!)...Black Friday…Cyber Monday. The list goes on. 

If there’s something you really want, try not to buy it full price. Instead, buy it on sale around the key events.

If it ain’t a necessity, sleep on it

If you’re prone to a little impulse spend (aren’t we all)...then you may want to try the experts’ take: wait a week before you buy the item you want.

If it hits the 7 day mark and you still want the item, then allow yourself to buy it. Or, if you wanna go a little more extreme...wait two weeks. The longer you go without the item, the more you may realise you don’t actually want or need it. 

But if it’s still calling your name and haunting you in your sleep, then go for it. But try and implement some of the above tips (i.e. cashback offers, waiting for a sale or finding discount codes) when making your purchase. 

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