5 money-saving hacks from a millennial

We've got the best money-saving tips – and they’re really simple!

Savings tip 5. Ditch the credit cards

This one is a no-brainer, but it’s a hard habit to crack. Interest rates are high, so not paying your balance off in full every month can be a slippery slope to a financial crisis.

Many people find themselves years later, still trying to pay off huge credit-card balances. If you have a scary balance and you’re really stuck, talk to your bank about a payment plan.

Savings tip 4. Smart shopping

Go shopping with a list, look at budget buys, swap that high-priced product for a house brand, and think about how much food you might be wasting.

Plan your meals, and do a big cook-up on a Sunday afternoon, so you’ve got lunches for the week. 

Savings tip 3. Ditch the takeaway coffee

Those takeaway coffees every day could be costing you a house deposit! If your daily flat white costs NZ$4, that’s NZ$20 a week. 
Over a year, that’s over NZ$1000.  If it’s too hard to go cold turkey, think about cutting down.

Savings tip 2. Cut your online entertainment

Netflix, Lightbox, Neon, Sky –  if you have lots of them, it all adds up.

Look at how often you’re using each one, and plan on downgrading. Review it after a couple of months, and chances are you won’t be missing it at all. 

Savings tip 1. Swap eating out for eating in

If you’re blowing all your money on catching up with friends at cafes and bars, you’ll find a few simple changes can make a huge difference.

Instead of getting together for brunch, meet for a coffee instead. Instead of drinking out, have a catch-up at home instead.

Published August 2018

We aim to make things about money easy to understand. To help us make this article reader friendly, we used The Write Plain Language Standard.

This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. We recommend you speak with a financial adviser. All content is correct at time of publication date.