Beyond the Budget: 5 Innovative Ways to Save in Australia’s Expensive Cities

Australia’s major cities can be incredibly expensive to live in. From sky-high rents to the rising cost of necessities, wiggle room in many people’s budgets is quickly shrinking. While certain costs like electricity and fuel generally can’t be avoided, there are some steps you can take to reclaim some of your funds. 

Get Rid Of The Home Office

While ditching the commute is a fantastic time saver, it isn’t always the best solution if you have a cramped inner-city apartment. This is even more true for those who run their own business, as it can have a bad habit of taking over both your space and your life if you allow it. 

You could upsize your living space to allow for a home office. However, it’s often more convenient and cost-effective to opt for affordable coworking or serviced office spaces. For example, if you’re in Melbourne, you could rent Abbotsford office space, giving you all the benefits of being close to the CBD without the astronomical costs. Alternatively, you could make use of a hot desking workspace in your local area. This allows separation between work and home life, while still allowing you to reduce your commute time.

Cook In Bulk

Items almost always cost more when they’re purchased in a smaller quantity, so cooking in bulk is a great way to save money. You’ll need plenty of fridge and freezer space to make the most of this tip, along with quality cookware for meal prepping. Once you’ve got all this set up, cooking in bulk can significantly decrease your grocery bill. Bonus points here if you also switch to purchasing your items from local suppliers such as the fruit market or butcher, as they tend to be competitively priced, especially when you’re ordering a large quantity.

Shop Online

Online shopping is another great way to save money on almost any item you’re looking to buy. Even if you prefer not to complete your purchase online, you’ll be able to find the best price for the item you’re looking for, and many physical stores price match these days as long as you have proof. While this does take a bit more effort than simply heading in-store and picking up what you want, the savings make it worth it, especially on big ticket items or large purchases like refreshing your wardrobe. 

Put Everything You Don’t Need Easy Access To In Storage

It may seem counter-intuitive that we’re suggesting another solution that adds to your weekly spend, but hear us out. By putting belongings you rarely use in an affordable self storage unit, you’ll free up a significant amount of space in your home. This could allow you to either downsize, or bring in a housemate to ease the burden of the above-mentioned sky-high rent. You may also find that you don’t really miss these items, which will free you to sell them, pop the profits away for a rainy day, and then finish up your self storage rental. 

Consider Solar

Whether you’re renting or buying, a home with solar panels can save you a huge amount of money. There are government rebates for landlords installing solar on their properties, so rentals with solar power are becoming more common. Land one, and you’ll free yourself from a huge amount of financial pressure. 

With the cost of living rising, creative solutions are needed if you want to keep your costs down. These tips will help, but they’re general in nature, so if you need personalised assistance, we recommend speaking with a financial adviser to ensure you’re getting advice that suits your circumstances.