Frugality & Saving Money

This section of Oz Investor aims to provide you with the knowledge and strategies necessary to reduce your expenses while maintaining your present lifestyle.

One of the easiest ways to increase your wealth is to cut back on what you spend. Many of these savings can be made without any great sacrifices on your behalf. By shopping frugally, by using your household utilities wisely and by organizing the manner by which you handle your bill payment regime, you can significantly reduce your expenses.

Within this section, we will compare prices paid for groceries at various supermarket chains throughout Australia, and will provide strategies to help you minimise your power, phone and internet bills, as well as the payments made on your personal and automobile loans.

Savings Accounts

Macquarie Cash XL - A simple to use, online savings account that earns you high interest on your balance. Keep your cash earning till it's needed. No minimum initial investment or ongoing balance. Earn full interest on every dollar in your account. Calculated daily, paid monthly. Unlimited free transaction to linked account, plus no establishment or transaction fees. Macquarie Cash XL is a Unit Trust that invests solely in a deposit that is covered by the Government Guarantee.

Tips for Saving Money

Fee-free Banking (NineMSN Money, 30th May, 2001)
With the major banks promoting fee-free options for senior bankers lately, it may seem that such perks are reserved for only those over 60 years of age. This article outlines how the younger crowd can receive the same, or similar, reductions in fees.

Free Yourself from the Vicious Cycle of Credit Card Debt - written by Deborah Brown
One of the biggest hindrances to effective saving and debt reduction are the lure of the convenience offered by high-interest credit cards. Here, Deborah Brown outlines the best tactics for the elimination of credit card debt. (Note: Some aspects of this article are directly aimed at US-residents, though the general themes are equally as valuable to Aussies).