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Friday - 01/06/2012

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Mục lục

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2 “Sydney and Melbourne have been named as the world’s seventh and eighth most expensive cities in the 2012 Cost of Living index.

“Sydney and Melbourne have been named as the world’s seventh and eighth most expensive cities in the 2012 Cost of Living index.

The survey was calculated by comparing the prices of hundreds of products and services – including food, rent, utility bills, transport, and clothing – in 140 cities throughout 93 countries.

More stats: The Economist Intelligence Unit puts Sydney and Melbourne in the top 20 most expensive cities in the world.

So if you happen to be a Sydneysider or Melbournite who is feeling the higher costs of living, learn how to save a buck and stretch your dollar further with these frugal saving tips:

Downsize, or scrap the car entirely

One of the major perks of living in an expensive city is having a robust and accessible public transport system. By getting rid of your car, you could save around $1,500 a year that would have been spent on insurance, maintenance, and fuel costs, not to mention the price of the car itself.

Life is easier when banks, supermarkets, shops, and restaurants are within walking distance. And you can always cycle to work, saving you money and improving your health simultaneously. If you do require a vehicle for work or family, it’s much cheaper to downsize to a smaller, more economical model, or even lease a rental for a short period when needed. Share one car between two adults if that’s an easier sacrifice, or consider a runabout scooter for easy parking and low maintenance costs.

Free events

Sydney and Melbourne are culturally rich cities that frequently host free events. Cut back on your entertainment expenses by discovering a range of freebie activities. Timeout is a great resource, as is What’s On for Sydney and That’s Melbourne forMelbourne.

Are you spending too much? Here’s how to cut down:

Eat cheaply

Hustling and bustling cafes and restaurants are constantly vying for your business. This type of competition means it’s easy to find cheap and tasty meals whenever you desire. Take note of happy hour deals and two-for-one offers like the coupon deals on Spreets. It pays to eat and drink at the right time and when there’s a deal.

Buy in bulk

Whether you’re picking up groceries or purchasing a transport pass, buying in bulk always saves you money. In Sydney, buying a pack of 10 pre-paid bus trips is substantially cheaper than buying them individually. Take advantage of grocery sales on non-perishables, and stock up for great savings. Related reading: Ditch these 8 things and save

Shop online

Online shopping has made it possible to buy everyday necessities and indulgent items for less than you would pay at regular stores, which often have inflated prices due to overheads. Furthermore, most online stores offer free postage to customers who spend a specific amount on purchases.

Cook ahead

Whenever you have a free day, use it to cook in large quantities and freeze the leftovers in dinner-sized portions. That way, you can simply heat up a meal you’ve already cooked, rather than spend money on eating out. This will also help when buying in bulk. Related reading: How to save in the kitchen

There are countless benefits to frugal living, especially if you live in an expensive city like Sydney or Melbourne. Frugal choices can help you pay off debts, invest in profitable ventures, or simply add to your savings. And if you’re spending less, you can afford to work less. Or you could always choose to work more and retire earlier.

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