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8 Rules of Spending

The small everyday spending decisions you make can have a big impact on your cashflow and your future net worth.

1. If you can't afford to pay cash, always ask yourself if you really need the item you're buying.
2. If you use EFTPOS remember if you pay fees each time you withdraw money it can add up to large sums of money over a year or two.
3. If you don't have to use the finance or lay-by offered by a shop, you might be able to shop around for a better deal or ask for a discount.
4. Always check out all the fees before signing any finance deal.
5. Even ‘interest free’ deals can have expensive fees attached. What's more, they're often only available on full-priced goods and can be expensive if you don't pay the balance off in full before the deal expires.
6. Check out what you will pay in total with the Hire purchase calculator, or the Car loan calculator, which works for personal loans as well.
7. Use lay-by rather than credit if you don't have the money to pay now. That way you don't pay interest.
8. Save on bank fees - withdraw cash whenever you pay by EFTPOS.