Top 6 Money-Saving Ideas

Frugal living is a topic that many individuals shy away from. Spending sparingly is often seen as an exhausting, joyless endeavour. Saving doesn't have to be painful, though!

Today, we've compiled a quick list of the most practical ways to save money in the coming year. These ideas are fun and easy, and just might help you save hundreds of dollars in 2015 and beyond.

1) Review and reduce your monthly bills.

Though reviewing your monthly bills is rarely fun, you can score some great savings by occasionally reviewing these fees. YouCompare is an excellent resource for comparison-checking your bills. By using this site (or other online resources), you can ensure that you're getting the best deals on your health insurance, phone service, broadband internet connection, and more. By reviewing your monthly fees just twice a year, you can save yourself hundreds of dollars annually. By saving money on your routine bills, you'll be better able to save for more enjoyable things in the future.

2) Swap your house for a free vacation!

Aussie House Swap is an excellent resource for making your next vacation a more affordable one. The premise of this website is a fairly unique one; stay in another Aussie's home, and let them stay in yours, absolutely free of charge. There are homes across the country and around the world available for you to stay in. You can browse listings for free, and registering for the site only costs $65, less than the price of one night's stay in a hotel room. You can stay in someone's home for an agreed-to amount of time, from days to months, and they can stay at your home either simultaneously or at another point in time. If you're looking for a great vacation experience that won't set you back thousands of dollars, check out Aussie House Swap. The savings are absolutely worth it.

3) Find it on Freecycle!

The mission of Freecycle.org is simple: keep things out of landfills by offering a no-strings-attached way to give away unwanted items. The site, which has millions of members worldwide, is particularly popular across Australia, with many local groups boasting thousands of members. The site is a superb resource for finding household necessities for free and is a perfect way to get rid of usable items that you no longer need. With Freecycle, you can save yourself cash while saving the environment, too. Look up your local group and start "freecycling" today!

4) Stop neglecting your local library

Most of us are all too quick to purchase new books, DVDs, and video games. Few of us visit the library for these resources as often as we should. Though the library is often just around the corner, many of us make unnecessary purchasing decisions that could just as easily be satisfied by a trip to the library.

Are you subscribed to any newspapers or magazines? Cancel your subscriptions and review the issues weekly or monthly at the library.

Are you tired of shelling out $50 or more on new video game titles? A growing number of libraries are adding video games to their catalogues. From XBox One to Wii U games, many of your favourite titles can now be checked out from the library, free of charge.

Do you want to freshen up your digital music library? Instead of subscribing to a costly online streaming service, consider adding new tunes to your collection by ripping songs from your library's CD collection.

Instead of paying $8 or more for a prime-time movie ticket, check out a favourite DVD from the library and indulge in popcorn and snacks at home. The experience will be just as fun as visiting the theater, and will save you big bucks, too.

5) Take advantage of off-season discounts.

Most of us fall prey to spending when it's worst for us. Rather than drastically reducing your purchases, consider simply re-arranging your shopping schedule. Put out last year's holiday decorations this Christmas, and buy wreaths and accessories after December 25th for savings of 50% off or more.

Instead of shopping for dairy and baked goods on a Saturday morning, consider purchasing them in the evening, when soon-to-expire items are reduced for quick sales. Be sure to check the store's circular flyers for deals and coupons before shopping, too.

Stock up on fans and t-shirts during the winter months, and purchase sweatshirts and winter coats when it's hottest.

Though it takes will-power and foresight to alter your shopping habits, these small changes can save you big bucks in the future. You don't need to be stingy to save money. By making frugal and intelligent purchasing decisions you can reduce your total shopping bill while treating yourself to a few new things.

6) Save on schooling

You may think you're already saving money on your child's education by sending them to your local public school. Even so, the costs of transportation, textbooks, and schools supplies can add up. You may find it a surprise to learn that you can reduce these educational costs as well. There are a number of tax breaks and stipends available for students across Australia. If you drive your child to school each day, for example, you may be able to write off the transportation fee. You may also be able to claim such benefits as a uniform stipend, textbook allowance, and the Schoolkids Bonus, depending on the territory in which you live. If your child's education is cutting into your savings, consider consulting these valuable resources. You may be able to reduce these fees more than you ever realised.

Though saving money takes foresight and commitment, you can be frugal while still having plenty of fun each week. Reduce your spending on the necessities, and you'll soon be able to afford the luxuries of your dreams.