Money Savings Tips for 2020


2020 is upon us, and January is the ideal time to start organising your finances. Perhaps you’ve overindulged during the festive season and your bank balance is looking a little worse for wear. Rest assured you’re not alone, and by getting on top of your finances and sorting out your annual budget, you can set yourself up for a positive start to the new year and beyond.

In this blog post, Advanced Group share some helpful money saving tips for 2020.

  1. Keep Track of Your Spending

It’s easy to get carried away on a shopping spree, and we all deserve to treat ourselves once in a while – but you should be mindful of your spending if you want to work towards larger financial goals. This will enable you to better allocate funds towards essentials, luxuries and future purchases. There are numerous finance tools available, such as Mint, Digit and Clarity Money. You could also use a spreadsheet.

By keeping track of your incoming and outgoing funds, you will be able to make smarter purchasing decisions whilst building a healthy savings balance.

  1. Make some Small Changes

Are you one of those people who starts every day with a café breakfast? Maybe it’s time to make a change to your routine. There’s no need to forgo this altogether, but perhaps you could limit this to a few times a week. Instead, you could prepare a thermos of coffee each morning to enjoy during your workday. 

Making small lifestyle changes can make a big impact on your bank account. It’s easy to spend a few dollars here and there, but this adds up faster than you might think. Take a look at your daily spending habits and work out what could be cut or altered in order to help you save towards a bigger goal.

  1. Set a Budget

It’s well worth taking a few hours to work out a weekly/monthly budget. You’ll need to consider the following:

  • Rent
  • Mortgage
  • Utilities
  • Groceries
  • Entertainment
  • Car Expenses

Once you have an idea of your expected monthly costs, you could then go about finding ways to reduce this even further. Some of these will be fixed costs, but you can almost always get a better deal simply by calling your utilities and internet service provider. Jump online and check out the latest plans and offers, then get on the phone to negotiate a better deal.

  1. Review Your Finances

January is a great time to go over your finances and evaluate how you’re going in terms of savings goals, superannuation and taxation. Some things to consider include:

  • Do you have any financial goals for 2020?
  • Are you expecting any large expenses this year (e.g. medical, debt repayment etc)?
  • Are you prepared for tax time?
  • Are there any obvious trends visible?
  • Is your superannuation fund performing as expected?


  1. Favour your Debit Card – Not your Credit Card

There are some circumstances where a credit card can prove to be very useful or indeed necessary, such as for hotels and car hire. But for all other expenses – reach for your debit card. You’ll be much less tempted to spend to excess, as you will be limited to the funds you have available in your bank account.

It’s easy to get carried away with credit card spending, so essential purchases should ideally be made via your debit card. If you’re purchasing something substantial, a credit card can make sense as you may receive some form of cashback, extended warranty or bonus points. Just be sure to pay off the debt quickly, before the interest rate starts to bite. With a bit of self-control and savviness, you can split your purchases between debit/credit and reap the rewards.


Looking for a new role in 2020? Contact Advanced Group Today

We hope you found the above money saving tips helpful, and we wish you a happy, healthy and prosperous 2020. If you’re looking for an exciting new role, please get in touch with our friendly recruitment consultants today on 02 8086 3444 or submit an enquiry via our website.