Simple ways to save and still have a social life
When you are in serious savings mode when you are saving for your first home deposit, it can be tempting to go into hermit-mode and simply try to stay at home and eat nothing but (avocado-less) toast in an effort to maximise your savings. And there is no denying that can certainly be effective, but what’s the point of having a beautiful new home if you had to ditch all your friends and stop being social while you were saving for it?
Luckily, there are some easy things you can do to make sure that you keep your social life while you save.
How to save on eating out.
You don’t have to forgo date night or meals out with friends when you are saving, you just need to be clever about it!
One of the easiest ways is to pick the restaurant yourself, that way you can make sure that there are some budget friendly options on the menu, or you can find one that is doing a meal deal you can take advantage of.
Another way to save is to try and eat at BYO restaurants and save money by buying wine on sale ahead of time, keep an eye on catalogue offers or even shop-a-docket deals; you can often get large discounts or 2-for-one deals on wine.
You can also become a bargain hunter on sites like Groupon and Scoopon and look out for great meal deals near you – sometimes you can up to 65% off the cost of your meal!
How to save on entertainment.
The cost of a movie ticket has skyrocketed in recent years, and that’s not even taking into account the cost of popcorn or a choc top! If you simply HAVE to see the latest blockbuster, try to see it on discounted movie days like cheap Tuesday, or check to see if you are eligible for discounts; insurers like RAC, RACV and Bupa offer discounted movie tickets as part of their benefits package, so make sure you take advantage of these if you can! And as for the popcorn, why not use one of our tips above to eat a delish meal before the movie so you’re not hungry during the movie? Otherwise, stock up at the supermarket on discounted snacks and bring your own! (Make sure to check whether your cinema allows this though!)
If you love going to music festivals, but aren’t sure how you are going to afford it while you are saving, have you ever thought about working at the festivals instead? Many local and national festivals are often understaffed and will look for volunteers to help man the ticket gates, in exchange for free entry! Reach out via social media or the festival website to see if there are any opportunities.
How to save on social events.
No matter how careful a saver you are, there are always events that pop up that you can’t say no to, like birthdays or special events! But there are ways to still ways to save without missing out on these events.
Things like birthdays, engagements parties, weddings can involve having to part with your cash to pick out the perfect present. If you have an idea of what to get, start looking for sales and specials early so that you can be guaranteed of a great deal! Otherwise, why not ask a couple of friends to split the costs of a present if you want to get something more expensive – I bet they will be happy to save some money as well!
Otherwise, you can get a bit creative with your gift giving and perhaps offer an experience instead, like a voucher for you to take them to dinner at their favourite restaurant or a week of home-cooked meals!
If you have plans with friends that involve going to a bar or club, then save money by drinking at home before heading out; you can make an event if it by inviting some friends over for some pre-drinks and snacks while you get ready to go out! You will need to remember to limit your drink while you are out though, so try to commit to drinking water between each alcoholic beverage to slow down on your spending (and alcohol consumption!)
Try to keep a look out for Uber and Ola discount codes to make sure you get home safely, and on budget. Otherwise why not act as designated driver for a couple of social outings – that way you won’t be able to spend much money on drinks, if you pick up friends on the way they can pay for the parking; hello cheap night out!
If you are looking for other strategies to build up your bank balance while you save for your first home deposit, talk to the first home experts at Resolve Finance!