Five Money Hacks for 2021

As the new year begins yet again, you might be back at ground zero planning out some goals for the year ahead. The likelihood of money being on that list is probably quite high. With that in mind, we’ve put together five saving hacks to help you on your pursuit to improving your savings in 2021.


1. Try a stop, start and continue analysis on all your spending

What things could you stop, start and continue doing to help in your pursuit to saving money?

a. What could you stop? Have you got a gym membership, but haven’t stepped foot into the gym for the last 9 months? Are you guilty of having four different media subscriptions that you don’t utilise properly?

b. What could you start? Do you have a detailed savings plan? Should you start decluttering your wardrobe and cupboards to see what you can sell on marketplace or Gumtree to boost your savings account?

c. What could you continue? Do you have a regular money habit that has positively impacted your bank account? Maybe you rode to work instead of driving or caught public transport which is saving you a chunk of money each week and benefiting you mentally and physically. If you do, continue these things.


2. Unsubscribe from all the retail brands you follow

Having daily interactions from retail companies with very tempting ‘sale offers’ can be extremely distracting, especially if sales just so happen to be your spending weakness. So, we’re supporting the ‘out of sight, out of mind’ approach here and recommend removing those temptations from your daily communications. Not quite ready to hit ‘unsubscribe’? Instead, you could consider setting up a ‘sales’ dedicated email address for this kind of stuff that would consciously have to decide to log in to, taking away the accidental interactions in your main inbox.


3. Challenge your spending

Do you really need those new shoes or the latest smart phone? Thinking deeper into the motivations behind each purchase may uncover that the intended purpose doesn’t align with the purchase. Further to this, you could also try the ‘30-day rule’ where you wait 30 days before buying the item you want. If after the 30 days the urge to buy this item is still burning, then you can consider making the transaction.


4. Compare your insurance and utility bills

When was the last time you switched your insurance or utility provider? If you can’t recall the last time you did, this is something you could start doing this year. Switching might be easier than you think with many prospective suppliers willing to do the comparison for you on your current product or service.

There are a few things to consider here as the cheapest isn’t always the best. Comparing your individual needs to your insurance policy could identify areas for improvement. There might be something in your current policy that you’re paying a premium for that you don’t need. This is where looking at different policies and providers could save you some money.

Check out our Insurance Provider CGU Insurance~ for a no obligation quote on your home, contents, landlords insurance and more here.


5. Meal prep like your bank account depends on it

Meal prepping can not only be good for the bank account, but your health too. Creating a meal yourself is traditionally a lot cheaper than eating out. You could save even further by choosing ingredients that are in season and on special.

Having a meal ready in your freezer could reduce your temptation to order takeaway and spend more than you would have liked on food for the month. Check out our friends at Queensland Country Health Fund* who have put together an easy to read guide on how to meal prep here.

If you are looking for some assistance and guidance on budgeting, Queensland Country Members can take advantage of our free Money Mentoring^ service. Our qualified budgeting specialists can work with you to create an easy to follow plan that is realistic for you to follow in order to achieve your financial goals. To find out more visit here.


This information does not take into account your objectives, financial situation or needs. Before acting on the information you should consider whether this product is right for you and seek your own advice.

~Queensland Country Bank Limited ABN 77 087 651 027 AFS Licence No. 244533 acts under its own Australian Financial Services Licence and under an agreement with the insurer, Insurance Australia Limited ABN 11 000 016 722 AFS Licence no. 227681 trading as CGU Insurance. CGU Home and Contents Insurance, Landlords Residential Property Insurance, Car Insurance and Travel Insurance are issued by CGU. You can get a Product Disclosure Statement (PDS) for any of these products from any office of Queensland Country Bank. You should consider the PDS in deciding whether to buy or hold the relevant products.

*Queensland Country Health Fund Ltd ABN 18 085 048 237 is a wholly owned subsidiary of Queensland Country Bank Limited ABN 77 087 651 027.

^This service will provide budgeting tools for personal finances and is limited to our products and services only. There may be other products issued by other providers that may better suit your needs. Queensland Country Bank Limited ABN 77 087 651 027 AFSL/ Australian Credit Licence 244 533.