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THE EVERYDAY
SAVING GUIDE
A PRACTICAL MONEY SAVING GUIDE BASED ON REAL EXPERI ENCES
BY GAVIN THURSFIELD

IF YOU NEED SOME HELP OBTAINING YOUR FINANCIAL FREEDOM THEN THIS COLLECTION OF
MONEY SAVING TIPS AND INCOME MAXIMISING METHODS IS FOR YOU.

FOREWARD
Everyone can benefit from financial independence and wealth is not determined by how much you
earn but by how much you save. This real life guide is a collection of tips and tricks I have come
across, tried or discovered myself over many years. Some will work for you and some wont but even
the ones that dont work for you may inspire you to develop and share your own tips. By themselves,
each tip may not make a difference but just as a few trickles become a stream and eventually
become a powerful river, small savings now can compound and build over time.

ACKNOWLEDGEMENTS

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This ebook is dedicated to my good friend and colleague Lyeng who inspired me to write and share
these tips.

Contents
Cars: ........................................................................................................................................................ 3
Extra income: .......................................................................................................................................... 5
Loyalty / Discount / Frequent Flyer cards: .............................................................................................. 7
Credit cards: ............................................................................................................................................ 7
Shopping cards: ....................................................................................................................................... 8
Banks: ...................................................................................................................................................... 8
Gym membership: .................................................................................................................................. 8
Insurance:................................................................................................................................................ 8
Home Loans: ........................................................................................................................................... 9
Shopping: ................................................................................................................................................ 9
Water: ................................................................................................................................................... 10
Electricity: ............................................................................................................................................. 10

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HECS: ..................................................................................................................................................... 11

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Maximising Savings: .............................................................................................................................. 11

Cars:
Petrol is a major expense of vehicle ownership and seems to always be increasing. Here are some
tips for reducing your fuel bill:

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The easiest way to save petrol is to drive less: can 2 trips be combined into one? Is the trip
even necessary? Can you car pool? Is it better to use public transport, bicycle or walk?
Turn off the engine if idling for extended period time railway crossings, long traffic lights,
traffic jams.
Buy at the right time, petrol prices go up and down like a roll-a-coaster but there are
patterns to it. RACV and others graphs the prices which show the price cycle and there and
many apps and websites that track fuel prices.
Petrol vouchers a lot of supermarkets offer fuel vouchers, ask around if friends and family
have any extra vouchers if you dont have many yourself.
Many manufacturers recommend premium unleaded but almost all engines will run fine
with no noticeable difference on regular unleaded. Ethanol petrol is usually cheaper than
normal petrol. Check you owner manual that ethanol petrol is o.k. for your engine.
Always fill up when the weather is colder as temperature increases fuel density decreases
and you actually get less energy per litre
Avoid filling up if the tanker truck is in the station, when the tanker refills the main tanks it
stirs up any particles in the main tank which will transfer to your tank, your fuel filter will
catch the particles but your filter will clog up faster leading to incorrect fuel / air mixture.
Correct tyre pressure leads to optimum efficiency, tyre pressure will be listed in your car
manual and also usually on a stick on one of the door frames or on the petrol filler cap. It is
best to check the tyre pressures when the tyres are cold but if not, just increase the pressure
by 2psi, ie: if normal driving pressure is 32 psi, pump to 34psi. Frequency of checking tyre
pressure will depend on how much you drive and how old your tyres are but as a guide
every 2 months should be fine.
Fuel / air mixture is critical for good fuel economy, if your air filter is easy to access, remove
it and tap gently to remove any trapped large particles, replace the air filter if it contains any
holes or seems extremely dirty.
extra weight: remove any unnecessary items for the car as reduced weight means reduced
fuel consumption.
despite common belief, a clean car does not reduce drag and therefore makes no difference
to fuel economy.
the air conditioner compressor places quite a load on the engine, try to avoid using the air
conditioner as much as possible and particularly when accelerating fast or driving uphill. It Is
more efficient to run the air conditioner with maximum fan speed for a while and then
turning off the air conditioner switch. Avoid excess heat build up in the car by leaving the
windows down as much as possible (as long as it is safe and no chance of rain!) , tint film will
reduce the rate at which the car heats up but will not reduce the maximum temperature
Drag increases dramatically as speed increases so avoid having windows open when
travelling above 70km/h. It is more efficient to use the air conditioner (sparingly!)

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Car Servicing is another expensive part of car ownership. If your car is still under manufacturers
warranty then you need to get the car professionally serviced to maintain the warranty. Places like
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Ultra tune can do log book servicing without affecting your warranty so shop around between
dealers and other suppliers to see who is the cheapest. Places like Ultra Tune also include roadside
assistance when you service with them.
If your car is out of warranty, servicing the car yourself is the cheapest option. The most frequent
servicing requirement is changing the oil and oil filter. (refer to your car manual for frequency / km
between changes, usually every 12 months / 20,000km.) The time between oil changes is not
important at all, keep in mind that oil has been in the ground for millions of years! Use the
kilometres as a guide but this also depends on how you drive and what sort of oil you use and what
condition your engine is in. If your oil is still a honey colour then there is no need to change it. Any
particles visible or a very strong burning smell from the oil means it requires changing.

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To change the oil & filter you will need a new filter, new oil, collecting pan, drain plug removal tool
and possibly an oil filter removal tool. Check your car manual for the type, grade and amount of oil
(including the filter) required, ie: synthetic 20W 40, 5litres including filter. Oil seems to be cheapest
at Repco (RACV members get discount), Bursons, Supercheap auto, K Mart or Autobarn and seem to
be cheapest at Easter time and around Fathers day. Dont be afraid to stock up as it wont go out of
date. The above mentioned stores also stock oil filters but there are also heaps of online parts stores
that are very cheap (SCA, online auto, Rtech, sparespro) only trouble is shipping can be expensive
so its best to buy multiple parts at the same time.

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If you dont have the tools or expertise to do the servicing yourself, consider visiting Youtube to see
what is involved and what tools you would need. Ebay is usually a good place to see what tool prices
should be before trying Bunnings and other car parts stores.
Car batteries usually last 3 years. They will last longer if maintained and not overworked. Always get
into the habit of turning on lights / air conditioner /wipers / accessories after starting the engine and
always making sure they are off before stopping the engine. Keep battery terminals clean from
corrosion and cover terminals with vasoline to protect them once they are clean. Make sure cables
and tightened securely and that the battery itself is not loose as a rattling battery with lead to early
failure. If there and maintenance plugs on top of the battery, make sure that each cell is filled to the
mark with distilled water.
The most expensive way to buy a battery is buying a replacement from RACV or Marshall battery
replacement services. Most modern batteries have an indicator window that tells you when the
battery is dying. If you notice the car getting harder and harder to start then consider buying a
replacement battery before the battery dies. Places like battery world will test and change over you
battery if required. Replacement batteries are usually cheapest in Kmart and from battery
manufacturers like Batteryguru in Braeside. Keep in mind that a larger CCA battery will work fine in
your car as long as it will fit in the battery tray and is still low enough to allow the bonnet to close.
Rotation of tyres will result in your tyres lasting longer. Dont forget to rotate in the spare tyre if it is
a full size spare. Just make sure you do not have directional tyres before changing tyres from driver
to passenger side.
Easter time seems to be the cheapest for replacing tyres. Places like Highway tyres have discount
cards which will give you a 5% discount when buying 4 tyres or free services for new tyres.
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Your brake discs and pads will last longer if you have slow smooth braking. Watch ahead and take
your foot off the accelerator when you see that you will need to stop or slow down. If you have a
manual car you can gear down and use the engine to brake.
Car registration is cheaper for hybrid and electric cars but the extra purchase cost of these types of
vehicles makes it unviable. Current Vic roads (Jan 2016) registration charges are:
Metropolitan area
$771.60
(High risk zone)
Outer metropolitan
$719.90
(Medium risk zone)
Rural
(Low risk zone)

$660.50

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Extra income:

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So if you have own a property in country Victoria or have a relative in country Victoria, might be
worth checking if its O.K. if you get your registration renewal (but hopefully no traffic infringement
notices) sent to their address. Now that registration stickers are no longer used all you really need to
do is set a reminder to pay it each year.

There are many additional ways to earn some extra money beside regular employment. I have
tended to look for things that I can fit around full time employment and do them when I want and
have some spare time. Here are some options:
The Australian Electoral Commission ask for people to assist during State / Federal elections. It can
be a long day (12 hours+) as you need to participate in vote counting. Your pay will depend on the
job you do but starts at $377 for the day (2014).
There are numerous online survey groups that allow you to answer questions from a laptop, tablet
or mobile any time you like. Most of them have no time limit so you can start one day and finish
another if you like, perfect for filling in some spare time during tv ad breaks, while commuting or
waiting for a meeting to start. Payment for the surveys varies quite dramatically so its often best to
join lots of groups and choose the best value surveys on offer at the time.
Surveys mostly take 5 to 20 minutes (but can range from 5 seconds to 3 & hours!) to complete but
the quicker you answer the quicker you finish. Some surveys have trick questions to stop people just
randomly clicking but after a while you will be able to easily pick them. After a while you will learn
that ticking less options in a survey can reduce the survey length as well. Survey payments range
from $0.05 to $100.
Many of the survey groups also offer paid trials of food and products. They usually involve a
company sending you some items for you to taste or trial over a fixed time and then a follow up
survey in what you liked / disliked. Payments range from $20 - $65.
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There is also paid taste testing through various groups at various locations. Most of the taste testing
is done by Your Source who work out of the Chadstone shopping centre. They often have quick $10
walk in sessions that you can be invited to or can check if they are running if you are at the
shopping centre. There is no guarantee that you will qualify for the test (although if you say yes to
most of the questions asked at the beginning of the test then you should qualify) so there is little
point travelling to the shopping centre just for these but they are perfect if you are already doing
another taste test or are planning to travel to the shopping centre.

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The majority of taste testing at Your Source involves registering with then initially, they will then
send emails about upcoming testing with details of dates / times / payments and some initial survey
questions. If the timing and payment is O.K. then you can answer the questions to see if you qualify.
If there is an invitation that you really want to do but they say you do not qualify, you can often
close the survey questions and start again. If you qualify, then a representative from Your Source will
call you to book you into a session and also ask some of the same questions to confirm you qualify.
Once you qualify and are booked in, a representative will call you again the day before as a reminder
of your upcoming session. Testing sessions take anywhere from 10 minutes to an hour but the
quicker you test and answer the questions the quicker you finish. Payment is anywhere from $40 to
$240

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There are focus groups that are run online and in person. Online focus groups require you to login at
a specific time and answer questions and respond to other focus group members responses. They
usually last 60 90 minutes and pay anywhere from $30 to $150.

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For those who love to shop, there are many mystery shopper groups where you are given a mission
to buy or visit a shop to report on the service and environment at the store. Some require you to
purchase the goods with your own money before you are paid for your work and reimbursed for
your spending. As an added bonus you get to keep the purchased items.
Forum groups are online groups where you are required to login whenever you like and answer
questions at multiple times over a week or two. They generally pay between $70 - $450. There are
also ongoing forum groups where they ask weekly questions and either have regular payments or
prize draws.
If you drive through populated areas and have your car parked in visible areas, there are companies
that will pay you to display advertising on your car. It usually consists of see through stickers applied
to rear windshields (similar to those placed on the buses) or stickers for the sides of your car.
Everyone has unused and unwanted items at home. An easy way to generate extra cash is to sell off
these items either via ebay, gumtree, Instagram, twitter or facebook. Although you need to pay fees
for ebay, their popularity can make it well worth it. There are currently 40 free listings available
every month on ebay.
Airtasker is another way to earn cash for odd jobs done either in your local area or online. Elance is
similar to airtasker but a bit more professional as you need to actually do tests to prove your
competence in areas.
Some passive (no effort) ways of earning extra income is by installing paid applications on your
phone and laptop / tablet. Nielsen have an app for your phone and laptop / tablet that anonomously
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tracks your internet usage. Just install it and thats it. The laptop / tablet app pays $200 per year and
the mobile app pays another $50 per year.

Loyalty / Discount / Frequent Flyer cards:

There are plenty of loyalty cards so its best to select ones that suit your spending, whether its Rays
outdoors, priceline or crown casino. The most common schemes are probably flybuys & everyday
rewards.
Dont forget the lesser known discounts such as student discount, seniors discount, RACV discount.
Most airlines have their own or at least partner frequent flyer cards. It can be difficult to earn
enough points for a useful flight just by flying but there are many other ways to earn points. I have
found Qantas frequent flyer points the easiest to accumulate and redeem even though I rarely fly
Qantas.
Here are some lesser known ways to earn additional flybuys and frequent flyer points:

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Coles give extra flybuys points if you fill in a quick survey (tellcoles.com.au) after shopping at a coles
store, just keep you receipt handy as you will need the store and receipt numbers from it.

Credit cards:

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Qantas have there own internet search bar that gives up to 150 QFF points every month just for
using their search engine (associated with bing). To add their search bar, log into the QFF website, go
to additional ways to earn points and look for the link to install the add on. The search bar works in
internet explorer and google chrome browsers.

Most people try to avoid using credit cards because of the extremely high interest rates that can
apply to them. I say can apply because if used correctly credit cards can make you money and also
help your cash flow. I have had credit cards since I was 18 years old and am proud to say I have
never paid 1 cent in interest.
There are an endless number of credit cards available now. The best place to compare them is
comparison websites like mozo, canstar, cannex. The best credit cards I have found and are currently
using are listed below and used for various reasons:

28 degrees by GE: no annual fee, no overseas transaction charges or conversion fees

perfect for overseas transactions in other currencies while travelling or online shopping from
overseas websites
Coles mastercard: no annual fee, bonus flybuys points.
Woolworths: best rewards program for the type of spending and amount of annual spend I
make. Platinum credit card so there is automatic travel insurance and purchase protection /
extended warranty for purchases.
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Always opt out of credit limit increases (otherwise some cards will send out automatic credit
increases) and always try to keep your credit limits as low as practically possible. Your entire credit
card limit is taken into account when applying for other types of credit (such as home loans).
Consider reducing credit limits or even cancelling unused cards before applying for other loans.

Shopping cards:

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Bulk buying websites (such as Lumo rewards, ebay) offer common shopping vouchers like Coles,
Woolworths, Myers, David Jones at a discount of 3 to 5% off. It may not seem like much of a saving
but on average people spend $120 a week on groceries which can save them $312 a year. If you
have paid for a voucher, do not worry about the expiry date. The ACCC have said that purchased
vouchers cannot have an expiry date so demand a new one if the date has expired and the shop
refuses to honour it. This does not apply for % off vouchers, multiple purchase vouchers or any other
special offers.

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Banks:

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There is so much competition in the banking sector that you should not have to pay any bank fees or
atm fees. There are often additional benefits for student accounts, seniors accounts and also
professional accounts. Many are never advertised so you have to do your homework and shop
around.
Bank cheques are very expensive, consider money orders from the post office if a cheque if required.

Gym membership:

Although your health is very important, there is no need to for ongoing high costs of gym
membership. A large percentage of gym memberships are never used. If you have the space,
consider buying your own equipment from ebay or gumtree. Many local parks now have exercise
equipment and even play equipment make great outside gyms. Monkey bars are great for chip ups
and hanging sit ups. Slides also make great angled sit up benches. Any step or platform is great for
calf raises and step ups. Park benches are great for reverse push ups and bar dips.

Insurance:
Insurance is one of those things you buy but hope you never need it. It may seem like a waste of
money but if you never use it then think of that as the best possible outcome. You work hard to buy
a house, contents, car so why not protect them?

Companies like Coles and Woolworths are trying to break into the insurance market so are offering
very good deals to new customers. Besides flybuys / everyday rewards points, Coles and
Woolworths are occasionally offering other benefits like free online shopping delivery or free
roadside assistance.
Most insurance companies offer better pricing for new customers to win their business so never just
pay your renewal, check online to see if it is cheaper to take out a new policy instead. Even if it is not
cheaper, online tools make it easier to see what effect changing your cover amount or excess has on
your premium. For example, while check contents insurance online, I found I could increase my
cover by $3,500 with no premium increase.
Keep in mind that an asset (car, house, boat) is more expensive to insure if there is any debt owing
against it so always make sure you notify your insurance company as soon as you pay off any loans.
Many insurance companies offer pay by the month insurance. Unfortunately most charge extra for
this option so with todays low interest rates you will probably be better off paying the entire
amount.

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Insurance is generally cheaper for women and for older people so always try to insure under the
oldest female possible.

Home Loans:

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Avoid insurance policies in more than one name as any claims will affect both people. If a claim is
made it can be more cost effective to insure under a partners name until the 3 year or 5 year claim
history expires.

Online providers such as loans.com.au, Ubank, seem to have the best rates. Smaller mortgage
brokers such as Pacific Mortgage Brokers often have good rates that are not advertised. The best
place to start off is comparison websites like mozo, canstar, cannex.

Shopping:
I think we have all seen 10% off, 25% off, 50% off even 80% off sales but just remember you save
100% if you dont need it and dont buy it. Try waiting 30 days to determine if you really do need
something or if its just a passing fad.
Always bargain, just remember the seller doesnt set the price, the market sets the price and you
are the market.
Floor stock, damaged items, damaged boxes and last items are always easy bargaining items.
Combine these with stocktake sales, end of year sales for even more bargaining power. I have
received 50% off a leather recliner lounger set at Harvey Norman because it was a floor stock item,
best part was it was already assembled!
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Water:
The only part of your water bill you can reduce is the water usage and sewerage disposal (which is
based on a percentage of your water usage so reducing your water usage will also reduce your
sewerage disposal charge). This is the part that renters need to pay so reducing usage is also helpful
for renters. Although water is relatively cheap, reducing usage will save you money and also help the
environment. You could also argue that if everyone reduced their usage then there would be no
need for the desalination plant which would in turn reduce the fixed water supply charge.
Depending on the type of property you have, your lawn & garden could be the biggest user of water.
The easiest way to reduce outdoor water usage is simply not to water. I used to use a ridiculous
amount of water in the garden, when the first water restrictions came in place I stopped watering
the gardens altogether. I replaced some of the grassed areas with various gravels, rock or tanbark.
Some of the smaller plants did die and the grass browned off but all in all the garden is now more
drought tolerant.

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Another huge water usage is the shower head, reducing shower times will obviously reduce water
usage but a water saver shower head is just as effective.

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Although leaking taps / toilets do waste water, if a plumber is called to repair these then the payback
period to recoup the plumber costs can be many years. Almost all toilets and most taps have a shut
off valve on the wall (for toilets) or under the sink (for taps). These taps can be turned almost to the
off position so that any leaking can be reduced. It will make the toilet tank refill slower but has the
added benefit of reducing the noise while the tank is refilling.
If your toilet tank is large and seems to flush longer than required, you can reduce the fill level. Take
off the lid and look for an adjusting screw on the end of the float arm. Most arms require the screw
to go down to reduce the fill. If you turn the screw and water starts filling then turn the screw the
other way. Another option is to fill up an old soft drink or similar bottle with water and place inside
the tank. A 1.25 litre bottle inside the tank will save this amount of water each flush. Just make sure
it does not interfere with the float arm. You can flush the toilet with the tank lid off to make sure the
arm is not affected.
If you are considering buying a new washing machine, look for a higher star energy and water rating.
Generally front loading washing machines use less water.

Electricity:
The biggest users of electricity are fan heaters, pool pumps, hair dryers and clothes dryers. If in
doubt, check the power usage written on the appliance. For a standard 10 Amp power point the
maximum power being drawn should be 2400 Watts. Check power usage and also standby power
when purchasing new appliances. Standby power is another hidden high power usage. For example
and LED display on a microwave may use 6 W compared to an LCD display that uses 1 W. Doesnt
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seem like much difference but almost everyone leaves their microwave plugged in all the time, even
when going on holidays. A difference of just 5 W over the course of a year adds up to 43.8 kW!

Here are some simple electricity saving tips:

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Change light globes to LED or Fluorescent (there are many government subsidised
companies that will come to your house and change these over for free) or at least halogen.
Try multiple globe light fittings with 1 or 2 less globes to see if it is still bright enough.
Avoid using clothes driers as much as possible, plan ahead and outside clothes lines or inside
clothes racks.
Use gentle or reduced time cycles on the washing machine, save power, water and wear and
tear on your clothes.
Turn off unused appliances at the wall even wall oven, microwave oven and even central
heating controls during summer and air conditioner / evaporative cooler controllers during
winter.
Work out where you require the hottest water in the house (usually the shower), then
reduce the temperature setting on your electric hot water system (or gas hot water system)
until using just the hot water tap only is still warm enough on even the coldest winter day.
This reduces the temperature that the tank water is heated up to, saving money and
increasing the life of the hot water system.
Consider insulating any exposed hot water pipes between the hot water tank and taps. Most
will not be accessible but the main pipes leaving the hot water system are the most critical
and easiest to insulate.
As most hot water tanks are installed outside, consider adding additional insulation around
the tank or using plants or other outside structures like sheds to reduce the effect of wind
cooling the tank.
If you have a solar boosted hot water system, the water will be warmest in the evenings so
try to shower at this time for maximum benefit for the solar heating.

HECS:
I made the mistake of paying off my HECS debt as soon as I got a stable full time job. In hindsight, it
was effectively an interest free loan with the interest rate only set at the CPI rate. I would have been
better off using the money to pay off other debt at a higher interest rate (if I had any) or investing it
with any product with a higher rate of return.

Maximising Savings:
I am not a licenced financial advisor so I cannot give recommendations on investing so here are
some general tips for maximising your hard earned savings. All of these sorts of options can change
so quickly so its best to compare them is comparison websites like mozo, canstar, cannex,
finder.com.au.
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Short Term / High Liquidity:

Online saving accounts are usually just that online only so they need to be linked to another
normal bank account. This means that the online bank has low overheads and can give you a
better interest rate and you still have quick access to your money, usually available in your normal
account by the next business day. Most have no fees and a bonus interest rate if you make a deposit
and no withdrawal for the month.

Medium Term / Medium Liquidity:

Bonds / Term deposits: these have the advantage of being capital guaranteed but returns can be
very low, especially with such low current interest rates. However it is still better to get a few
percent interest on a term deposit than just have spare cash being eaten after by inflation.

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Australian direct shares: easiest and cheapest way to buy shares directly in Australian listed
companies is through an online broking website like commsec or etrade. Most of the big banks have
their own but there are lots to choose from so look around until you find one that suits you. Some
are cheaper than others, some have more in depth analysis and tools available so it comes down to
personal preference.

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Managed Funds: managed funds have the advantage of allow ing diversification and smaller initial
investment and even regular contribution plans.

Long Term / Low Liquidity:

Property Investment: this is a massive topic so lets just cover some of the basics.
Overseas Property

Depending on your citizenship, you may only be allowed to purchase property in certain countries. I
have investigated buying property in other countries but due to distance, exchange rates and
uncertainty of local markets / politics I have only invested in Australian property. There is also huge
added bonus of tax deductions and also the possibility of deciding to live in one of my investment
properties down the track.
Residential, Commercial, industrial properties
Due to the high cost and high vacancy rates of commercial and industrial properties I have only
invested in residential property. After reading and listening to commentary from many different
property advisors and investors, there are some general rules that keep popping up. I have
summarised some of these below:
Avoid investing in mining and regional areas. The rental return is high but this is usually due to the
fact that Boom towns become highly sought after almost overnight, rentals skyrocket, investors
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move in but when the Boom finishes you are stuck with a property that you cannot rent at
anywhere near the original rent and you also find the value of the property has dropped significantly
if you try to sell.
As silly as it sounds, it can be easy to forget the costs that are invariably associated with an
investment property. Once off fees include: stamp duty, mortgage registration, title changeover
fees, bank charges, conveyancer / solicitor fees. There may also be initial repair fees required before
the property is available to be rented.

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Ongoing fees include: property management expenses, letting fees, advertising costs when a
vacancy occurs, property repairs, landlord insurance, council rates, strata levies, sinking funds, water
rates and possibly land tax. If your property is positively geared then there will be extra income tax
payable, this could result in a PAYG variation requiring you to process and pay quarterly tax amounts
that can affect your cash flow and increase the amount of time you or your accountant spend on
your tax requirements.

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