Five ways to $5k
Planning to one day soon head on a magical vacation? Is a full service to the car on the cards? Or maybe you just want a juicy buffer to be prepared when you are ready to spend. In any of these cases, saving and investing can get you on the path to where you want to go. But who said we had to all get there on the same path? If your goal is saving and investing $5k, here are some ways to get it done.
1. $5 a day
Skip the occasional coffee. Walk the final kilometre and save on the commute transfer ticket. Whichever way you manage, we think you can find $5 a day in your budget and invest towards your future. The more you can invest per day, the faster you will get to your goal.
2. Take up a side hustle
Whether its food delivery, pet walking, or making the world’s greatest friendship bracelets, in this on demand economy there are more ways than you may realise to keep earning. Otherwise, you could also complete a lot of surveys 😊
3. Share the subscriptions to find some extra dosh
Spotify, Netflix, YouTube and many other subscriptions burn a hole in the rocket of many of us. Borrow, share, the choice is yours. But paying for all of them is an opportunity to invest gone begging.
4. Meal prep like a champ and invest $50 a week with the savings
Are you a spag bowl extraordinaire? Can you Dhal and rice with the best of them? Then get busy in the kitchen on Sunday evening and prep out your meals for the week. The average person can spend at least $50 on store bought lunches each week.
5. Working from home? Thrifty!
Lucky you! Many Aussies still working from home are saving on their daily commute and from making coffee and eating at home. If you are WFH, you may also find yourself with more time to think about your financial future, instead of concentrating on the gruelling peak hour grind. Maybe you are even reading the Raiz blog on your couch during your lunch break 😉
The takeway
Some of these ways are going to take longer than others. But the takeaway is we may all find ways to save and invest, even if it sometimes means sometimes ditching the takeaway 🥡
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