2012. Didn’t that used to seem like a long way away?
So the New Year has started, you’re back to working hard (or thinking about being on holidays while back at work), it feels like you never had a holiday, and all that stuff. Well, cheer up – time to start working on your 2012 is the Year I Get Richer plan.
Nope, sadly this isn't a realistic way to get wealthier in 2012.
The first – and easiest – thing to do is take a look at all of your expenses, and work out how to make them cheaper – get a spending diary if you have to. Are you using everything that you pay for monthly or fortnightly – like gym memberships, Foxtel, a big internet package, multiple bank account fees, and that kind of stuff? Make a list of them, and if you’re not sure why you’re still holding onto them, get rid of it.
Next, ring your bank and see what they can do about all of the fees and charges you currently pay on your savings account, other bank accounts, and most importantly your credit cards. If you ask your bank, “I’ve worked out from my statements that I’m paying $15 a month to you guys in fees, how can you make this cheaper for me?”, in the majority of cases, they will.
Then, ring all of your service providers – car and home insurance, private health, and talk to them about better or cheaper deals. It helps – a lot – if you do an online comparison first and let them know (very politely) that’ll you’ll go elsewhere if they can’t find you a better deal, especially if you can name the provider and how much you’ll save. I did this last year and saved heaps on my car insurance.
Got a lump of money sitting in a normal bank account? Move it to a term deposit or a high interest account. Check out who has the best rates here.
What can you sell that you don’t need? If you’re not sure, put it in a box at the back of your cupboard or garage for a few months. If you don’t get it out of the box, then you don’t need it, and you can sell it online for extra (tax free) cash.
And if you still haven’t, grab an old shoebox and mark it RECEIPTS. It is such an easy way to keep all of your receipts for tax time. If you’re not sure if it is useable, just keep it – your accountant will sort that out.
If you’ve got another tip for an easy way to get rich or save cash this year, leave it in the comments below.