Questionable savings hacks you could ignore
Not buying coffees out
Calculations on how much money you could save by either making your coffee at home or skipping it altogether are well-worn clichés in finance world rhetoric. Contrary to this: life is hard and small joys are often what get us through the day. Your iced long black probably isn’t going to be the determining factor that holds you back from financial independence, hitting your goals or feeling successful – it’s just not that deep.
Selling cheap stuff on Facebook Marketplace
Although this one depends on what your time is worth to you, selling inexpensive items online can often be more trouble than it’s worth. Endless “Is this available” messages, cancelled pickups and general time wasters could negate any small monetary kickback you receive when you do eventually sell your stuff.
Dying your hair at home
While some folks have their home haircare down to a fine art, most of us should stick to our day jobs. If we learned anything from lockdown it’s that some things really are worth leaving the house for. Box dye and at-home bleach attempts can often wind up costing you more than your pride and self-esteem when professionals are required for exxy colour corrections. The hundreds of “bleach fails” on YouTube should be evidence enough.
Meal Prepping***
As well-meaning as a Sunday spent meal prepping may be, it tends to lose it’s appeal on the 4th day of eating the same chicken burrito bowl. If you find yourself binning your prepared food and buying something on the go instead, maybe the meal-prep life isn’t for you, and that’s ok.
***I’m a pretty lousy cook and this can actually be a good way to save for people that do it right.
Skipping avo toast
Ever since that infamous 2017 quote blaming indulging in avocado toasts being the reason young Aussies can’t afford houses, the brunch staple has been the scapegoat of savings advice. While my points on barista-made coffees also apply here, let’s crunch some numbers;
Say you spend $20 eating out at a café once a week. Alternatively, you could make the same meal at home for around $6. So while you’ve skipped out on having someone wait on you, do the cooking & dishes, a potential social experience and supporting a local business you’ve saved $14.
Over a year of eating at home, you would save $728, a far cry from the $25k you might have in mind for a house deposit (unless of course, you keep this up for 35 years). Soaring property prices in this beautiful, albeit expensive AF country are not your fault, nor is it the fault of delicious Sunday brunch.
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While there are many legitimate and effective savings tips out there, beware of fluff pieces and the demonization of life’s little pleasures. Shifting your mindset when it comes to spending and saving as well as creating good habits will do far more for your bottom line in the long run.
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