Category Archives: Tips and advice

Shout To The Top: ‘Loud Budgeting’ Takes Personal Finance by Storm

Forget silent saving and quiet cutbacks (were they ever a thing?!). A new financial movement is here: loud budgeting!

Loud budgeting is the personal finance trend that rejects spending for the sake (and appearance) of spending. It does this by requiring people to talk openly about their money goals with family and friends, as a means to reject society’s pressure to ‘spend big’ all the time. This trend empowers everyone to proudly (and loudly!) declare their money goals and tactics, turning budgeting into a communal affair.

Gone are the days of awkwardly declining invitations and secretly watching (and regretting) every cent you spend. The loud budgeting trend embraces openness and transparency about your personal finances; meaning you can actually say what you’re not spending on to your friends and family so they know your budgeting.

Originally identified by TikToker Lukas Battle, loud budgeting encourages open communication about your financial aspirations, even if they involve saying “no” to unnecessary spending. It prioritises aligning your wallet with your values, rejecting societal pressures to spend just to keep up. Instead of feeling deprived, proudly articulate and stand by your choices.

This transparency can be contagious. By sharing your budgeting goals and commitments, you may inspire others to do the same and prioritise their own financial goals. Friendships can transform into supportive networks, celebrating milestones and offering encouragement (and preventative steps) when temptations arise. More open communication about money fosters genuine connections and breaks down the stigma often associated with financial struggles.

But is loud budgeting all happiness and light? Critics argue it can lead to harsh judgment or pressure from family or friends. It’s crucial to remember that personal finance is just that – personal. Share what feels comfortable and stay in a supportive environment.

When you think about it, no matter your financial circumstances, it’s a smart idea to talk to others about ways to save and spend. As part of loud budgeting we can all agree that shopping around and comparing prices is a pretty reliable way to get the best price for your personal and family needs.

Which makes GetReminded the perfect app to start a loud budgeting conversation.

Simply set some reminders to renew your insurance, mobile/cell phone and energy plan, loans and subscriptions – tell your friends and family what you’ve done – and the app will do the rest by reminding you to shop around.

Say it LOUD – Get the app. Don’t forget to save.

Download the free GetReminded app from the Apple App or Google Play store. Read the FAQ page to learn more.

Photo credit: Helena Lopes, Unsplash.com

How to Make Shopping Around a Habit: Finding the Best Deals Every Time

The escalating cost of living has made life more difficult for many consumers around the world, who can benefit from making shopping around a habit.

Whether buying everyday essentials like groceries or splurging on expensive purchases like travel, cultivating the habit of shopping around can save money and lead to more informed purchasing decisions. This blog post aims to provide practical tips and insights on how to make shopping around a habit, enabling you to find the best deals every time you shop.

1. Understand the Value of Shopping Around

Before explaining how to do it, it’s important to understand the significance of shopping around. It’s not only about getting the lowest price; it’s about finding the right balance between price, quality, and convenience. By shopping around, you gain access to a wider selection of products, compare prices and features, read reviews, and make better choices.

2. Set a Budget and Stick to It

Having a budget is fundamental when shopping around. Determine how much you can afford to spend on a particular item or during a shopping trip. This approach will prevent impulse purchases and help you stay focused on finding the best deals within your price range.

3. Do Lots of Research

Research is key to successful shopping around. Utilize online resources, price comparison websites, and mobile apps to compare prices across different retailers. Additionally, read customer reviews to gauge product quality and customer satisfaction. Gathering information ensures that you make an informed decision.

4. Sign Up for Newsletters and Rewards Programs

Join newsletters and rewards programs offered by your favourite stores. Retailers often provide exclusive deals, discounts, and early access to sales for their subscribers. Taking advantage of these offers can lead to significant savings over time.

5. Look for Promo Codes and Coupons

Promo codes and coupons are excellent tools for slashing prices. Before making any online purchase, search for valid discount codes on various coupon websites or the store’s website itself. Even a small discount can make a difference in your overall savings.

6. Time Your Purchases

Timing can significantly impact your shopping experience. Look out for seasonal sales, holiday promotions, or clearance events to get the best deals. Additionally, consider making purchases during off-peak seasons when retailers might offer discounts to boost sales.

7. Compare In-Store and Online Prices

In the age of e-commerce, comparing prices between online retailers and brick-and-mortar stores is crucial. Sometimes, you might find better deals online due to lower overhead costs for online retailers. On the other hand, physical stores might offer in-store exclusives, so it’s worth checking both options.

8. Don’t Forget Outlet/Discount Stores and Thrift/Op Shops

Outlet/discount stores and thrift/op shops can be treasure troves for great deals. Outlet stores offer discounted products from well-known brands, while thrift/op shops can surprise you with unique finds at unbelievably low prices. Explore these options to save money on various items.

9. Be Patient and Avoid Impulse Buying

One of the keys to successful shopping around is patience. Take your time, compare options, and avoid making impulse purchases. Give yourself a cooling-off period to ensure you genuinely need the item and that you’re getting the best possible deal.

Conclusion

Incorporating shopping around as a regular habit is a smart way to save money, make well-informed choices, and find the best deals on your purchases. By setting a budget, doing thorough research, utilizing discounts, and being patient, you’ll be well on your way to becoming a savvy shopper. Embrace the power of shopping around and watch how your savings grow while you continue to make mindful and informed purchases.

And of course, setting reminders in the GetReminded app is the perfect way to remember to shop around!

Get the app. Don’t forget to save.

Download GetReminded from the Apple App Store or Google Play Store. Read the FAQ to learn more.

Photo by Vlada Karpovich / Pexels.com

What’s Worse than Forgetting a Renewal?

Forgetting to renew a critical service plan can be frustrating and inconvenient, but there are certain scenarios that could be even worse.

Losing valuable data or access

If the service plan is related to cloud storage, online backup, or data synchronisation, the risk is the loss of important information, files, or access to critical services. This loss can be detrimental for personal or business purposes, especially if your data is not accessible in another location.

Financial penalties or late fees

Some service providers may charge late fees or impose penalties for not renewing on time. These additional costs can add up over time, leading to unnecessary expenses that could have been easily avoided.

Disruption of essential services

For services that are essential for daily life or business operations, not renewing on time could lead to a temporary disruption in those services. For example, forgetting to renew your internet service could leave you without internet access until the renewal is processed.

Missed opportunities

Some service plans may offer discounted rates, special promotions, or loyalty rewards for timely renewals. By forgetting to renew, you miss out on these potential benefits and savings.

Loss of subscriptions or memberships

In cases where you have valuable subscriptions (e.g., streaming services, software licenses, gym memberships), forgetting to renew could lead to losing access to those services or having to pay a higher price to re-subscribe later.

Negative impact on your credit score

If the service plan involves a credit-related agreement, such as a loan or credit card, not renewing on time or missing payments can negatively impact your credit score and affect your ability to obtain future loans or financial products.

Security and safety

Some service plans may include security features like antivirus protection or monitoring services. If you forget to renew these plans, your devices or personal safety could be at risk from potential threats or vulnerabilities.

So, while forgetting to renew a service plan can be inconvenient, there are some situations where the consequences can be more severe. It’s essential to prioritise staying on top of your service renewals and setting up reminders to ensure you don’t encounter any of these potential issues.

Here is a tip to help you avoid forgetting to renew your service plan: install the GetReminded app. It’s a simple but effective way to make sure you don’t forget to renew service plans and personal identity documents on time.

By following this tip, you can avoid a wide range of problems and extra costs.

Get the app. Don’t forget to save.

Download GetReminded from the Apple App Store or Google Play Store. Read the FAQ to learn more.

Photo by Andrea Piacquadio / Pexels.com

Contract Renewal Reminder Software: How to Never Miss a Due Date Again

In today’s busy world it can be easy to miss important contract renewal dates. Missing a contract renewal date can have significant cost consequences, such as paying the dreaded ‘loyalty tax’ which often applies to existing customers who blindly renew without shopping round.

That’s where contract renewal reminder software and apps like GetReminded come in handy.

It is a tool that helps you track upcoming contract renewal dates and receive automated reminders before the expiry or due date. This ensures that you never miss a renewal deadline again, and that you’re always prepared to negotiate the best possible price with your current provider – or if necessary shop around for a better deal.

In this blog post we discuss the benefits of using contract renewal reminder platforms and provide some tips on how to get the most out of using GetReminded.

Some of the benefits using GetReminded:

• Peace of mind: Knowing that you won’t miss a contract renewal deadline gives you peace of mind and allows you to focus on other aspects of your life.

• Increased efficiency: Setting up your reminder due dates can help you streamline your life admin and save time in the long run.

• Better negotiating position: With GetReminded you’ll be ready to negotiate the best possible terms when your service contract comes up for renewal.

And here are a few tips for getting the most out of GetReminded:

Enter all of your contracts (and personal identity documents) into the app. This includes insurance polices, mobile phone plans, energy plans for gas and/or electricity, subscriptions like internet/streaming tv/games/software, passports, vehicle registrations and licences.
Enter the expiry date of all your contracts and documents, or if there is no hard expiry date enter a review date to use as a moment in time to check the price you’r paying is still competitive (especially relevant for longer term loans). This will ensure that you’re never caught off guard by an upcoming renewal date.
Review the reminders regularly. This will help you stay on top of your contract renewals and make sure that you’re prepared to look for the best rates in the market.
Use GetReminded’s other features and functions. For example add the cost paid for each contract into the app so it shows up own the annual cost summary tab. This helps you understand your total living costs and save time when it comes to deciding how and where to find savings. Also use the ‘Bills’ category to set up short term reminders such as rent, subscriptions and credit card due date that are paid on a weekly/fortnightly/monthly basis.
Finally, GetReminded has other useful reminder categories including for personal health, pets, and birthdays/anniversaries/membership payments reminders (the latter found in the ‘More’ category).

GetReminded is an invaluable app that can help you avoid missed deadlines, improve how you manage life admin, and lead you to get better prices on a wide range of financial services. If you’re not already using GetReminded you may be surprised at how much time and money you can save.

Get the app. Don’t forget to save.

Download GetReminded from the Apple App Store or Google Play Store. Read the FAQ to learn more.

What’s The Best Day Of The Week To Shop for Bargains?

There’s plenty of debate about which day is best to go shopping if you want to grab a bargain. Here are some tips that may or may not be accurate.

Mondays and Tuesdays: Nothing much seems to happen on these days!

Wednesdays: Mid-week can be a popular time to release new sale items or apply additional markdowns. Perhaps ask at your favourite store to see if they have specific weekly sales or discounts on this day.

Thursdays: Weekend sales can start on Thursdays, giving you a head start on the deals before the weekend rush. Major grocery stores tend to start promotions on a Thursday.

Fridays: Same as for Thursdays!

Saturdays: This can be a good day to shop for electronics and appliances. Stores will offer discounts on these items on Saturdays to kick off their weekend sales. This tactic is likely to attract customers who have been thinking about a purchase all week and just need a little discount to persuade them to open their wallets.

Sundays: This is a good day to shop for clearance items. Many stores mark down clearance items on Sunday in order to get rid of them before the new week begins.

Online Shopping: Deals and discounts are available online 24/7. No day seems different – except for the big sales periods like Black Friday and Cyber Monday. There may be a trend for online retailers to start new sales and promotions on a Wednesday or Thursday but that is just a rumour!

It’s always worth subscribing to newsletters or following social media accounts of your favourite stores to receive notifications about their sales and in some cases you may get special discount codes as a valued subscriber.

Of course, there are whole periods of time that are good for sales and special discounts. Every month of the year has key days and weeks you can mark in a calendar to plan ways to keep to a monthly budget. There are always end-of-financial-year sales, pre-Christmas sales, January sales, stock take sales, and even store anniversary sales such as being “open for 10 years”!

These suggestions are not universal rules so best to research specific stores or websites to understand their sale patterns and policies. Keep in mind that discounts can be announced unexpectedly so look out for deals regardless of the day.

Of course for getting the best deals on recurring services use the GetReminded app. It’ll notify you when it’s time to start shopping around and link to some relevant offers.

Get the app. Don’t forget to save.

Download GetReminded from the Apple App or Google Play Store. Read the FAQ to learn more.

Photo: Jezael Melgoza on Unsplash

Not All Reminders Are Created Equal

Most of us have goals that we really want to achieve in our personal and work lives. There are times when you can’t get started. Or maybe you’ve started working towards a goal but keep getting sidetracked and lose momentum. If so, you’re not the only one. Many of us struggle with procrastination and sticking to a plan to complete the task.

One way to help you overcome these challenges is to set up reminders. Reminders do help you stay focused on your goals and tasks so it is more likely that you’ll actually take the steps necessary to achieve them.

There are a few different ways to set up reminders.

• A reminder app on your smartphone. Apple and Android phones come with a default app.

• To-do list app. Some popular ones are Todoist, Any.do, and Remember The Milk.

• A sticky note on your desk or fridge! This is a tried and tested method to keep that reminder in your face. It pesters you until you finish it, or throw out the note.

Some reminders are better than others

All reminders, however, are not created equal. Set reminders that are tailored to meet your needs and preferences.

Which is why we created GetReminded. It offers the ultimate in personalisation to suit your circumstances.

• Create reminders for all your personal, family and household recurring bills and expenses – insurances, mobile/cell phones, loans, subscriptions, registrations and passports

• Add in the amount you’re spending on each service so you know how much you spend and how much you might save on these expenses

• Get the added bonus of being informed about great deals in the market

• Note: it’s not for remembering to buy milk or call your mum

For more information about the app, check out the FAQ page.

Download GetReminded from the Apple App or Google Play store.

Additional tips for using reminders to achieve your goals.

• Make sure your reminders are visible and easy to find.
• Set reminders for specific times and dates.
• Reminders can be set up for both short-term and long-term goals.
• Don’t be afraid to adjust your reminders as needed.
• Reward yourself for completing tasks that you’ve set reminders for.

By following these tips, you can use reminders to help you stay on track and achieve your goals The important thing is to find a method that works for you and that you’ll actually use.

Last tip: Get the app. Don’t forget to save.

* Photo by Kelly Sikkema on Unsplash *

Money Management Strategies You Can Learn From Poker

A previous article on our site revealed that nearly 31% of Australians’ household finances had worsened. As a result consumer spending has declined and more people are looking for opportunities to save money. In fact, research showed that the average Australian adult has $39,439 stashed away (as at Aug 2022), a 75% increase from six months prior. High inflation and increasing interest rates have driven consumers to be more financially conscious.

Seemingly unconnected, poker has become very popular worldwide. Surprisingly, playing a game of poker can teach individuals how to manage their personal funds to help them achieve a financially stable future. Strategy and tactics used in poker are skills that can be transferable to the real world of finance.

Here are three money management strategies you can learn from poker.

1. Following a budget

Experienced poker players know that setting and following a budget is essential to ensure they don’t overspend during the game. Even if it’s tempting to keep playing to retrieve their losses, they practice self-control to prevent themselves from losing more money, especially when they’re experiencing a bad run.

Just like in real life, you need to set a budget for everything, from entertainment expenses to travel costs, and learn self-control when purchasing items outside of your necessities. CNBC shared that one of the methods you can use to budget is the 50/30/20 budgeting framework. With this approach, you spend 50% of your after-tax income on essential costs, 30% on other expenses such as eating out and luxury goods, and 20% on savings.

2. Taking calculated risks
Because poker is a game that involves risk, it’s impossible for poker players to win all the time. So, utilising the right strategy at the right time is an important part of every poker game, especially in Texas hold’em. When playing Texas hold’em, game strategies may include choosing the right move when putting down money or relinquishing one’s hand when the odds are unfavourable. Although folding means forfeiting in the game, it’s a necessary part of poker strategy because it will help players avoid losing more money than they could afford.

In life, knowing when to avoid and exit risky situations is essential to protect yourself from scams and fraud. However, it doesn’t mean you shouldn’t take some calculated risks. Deciphering which risks will be profitable or not is a poker skill you can use in everyday life.

3. Staying level-headed
When players are on a winning streak, it’s possible for them to feel overconfident, which can hinder them from making rational decisions during the game. One of those easy-to-make mistakes is playing hands that are no longer to their advantage, making them lose more money. That’s why experienced poker players know that being level-headed during games is important to avoid making impulsive moves.

When it comes to money management, you also need to stay level-headed to avoid investing in or purchasing items without thoroughly thinking about them. An example of this is impulsive buying behaviours. A study by Rosa Isabel Rodrigues described impulsive buying as a sudden and strong emotional desire to purchase goods or services without evaluating their consequences. Ultimately, playing a game like poker can help you learn to keep your emotions in control, which can also help you strive for financial freedom.

The Cost Of Living Crisis: Tips To Save Money

Rising mortgage interest rates, the war in Europe, COVID-19, unpredictable weather events, low wage growth, Brexit, supply chain disruptions – all of these factors are contributing to the cost of living crisis that is gripping the world right now.

The rising cost of everyday products and services is making it difficult for families, couples and individuals to spend less than they earn, manage their household budget, and save money.

GetReminded was created to help people save money. Of course, there are many other ways to achieve the same result. The following online articles offer some useful tips.

Nerd Wallet – “How to Save Money: 22 Proven Ways”

(US article) List highlights:
• Prep for grocery shopping
• Get discounts on entertainment
• Bundle cable and internet (set a reminder in our app to do this when your plan expires)
• Switch your cell phone plan (store plan expiry or review date in our app)

Lifehacker – How to Actually Achieve Your Money Goals This Financial Year

(AU article) Article highlights:
• Set mini savings milestones
• Win small to win big
• Track spending against goals

Bank of America – 8 simple ways to save money

(US article) List highlights:
• Record your expenses
• Determine your financial priorities
• Make saving automatic

HSBC – Everyday spending hacks to help you save money

(UK article) List highlights:
• Check your utility providers (shop around for the lowest cost provider)
• Cancel unnecessary subscriptions (store them in our app so you get alerts to review/cancel)
• Search for discounts (shopping around is the easiest way to start saving)

Tik Tok – Money-saving tips

Browse hundreds of TikTok short videos related to money-saving tips.

GOBankingRates – 6 Ways You Could Be Saving Money on Twitter

For Twitter users, there are many ways you can use the platform to find money-saving tips. Some ideas in this article:
• Follow Your Favorite Retailers
• Follow Coupon Accounts
• Search Hashtags

reddit – Saving Money: A Community for Thrifty People

reddit is a global online community where almost any topic attracts comments, ideas, tips and feedback. It’s a self-help supermarket that also has some excellent tips to save money.

To learn more about GetReminded, check out the FAQ page.

Don’t Pay The ‘Loyalty Tax’

It’s a common complaint made by consumers: “How come I can get a cheaper price from the same provider than what I’m currently paying as a loyal customer of many years?”

Many providers know that switching can be difficult. They also believe “why offer a lower price to retain a customer if they are happy with our product/service?”

This price gap is the ubiquitous ‘loyalty tax’. It is not a tax in the traditional sense – it won’t appear on an invoice. It’s the cost difference between what a loyal customer pays year after year, and what a NEW customer pays when they buy the same service. The gap can be enormous, as the following UK and Australian examples testify.

• In the UK, the Financial Conduct Authority (FCA) said that new car insurance premiums were an average of £285 per year, while customers who had been with their provider for more than five years were paying £370 per year. That’s a gap of 30%.

• The FCA also analysed the home insurance market where new customers paid £165 a year for buildings and contents cover, while after five years premiums had increased to £287. A whopping 74% gap!

• Research by the NSW government’s Insurance Monitor showed customers renewing their insurance policy paid 34% more than new customers.

• According to the Home Loan Price Inquiry conducted by the Australian Competition and Consumer Commission (ACCC), the average difference in interest rates paid by new and existing variable rate customers, at September 2020, was 0.3% for borrowers with home loans under 1 year old, and up to 1.04% for borrowers with home loans greater than 10 years old.

• According to a Canstar survey, 65% of Australians accepted their increased insurance policy premium without question.

Most research indicates that at least 75% of consumers stay with their current provider for many years.

How to negotiate a better deal

Firstly, understand that asking for a lower price is not something to be embarrassed about. Be confident that you are the CUSTOMER and therefore very important to the service provider.

Secondly, work out what really is the best/lowest price for the service you are receiving. If you don’t know what is the value of something, it’s impossible to calculate whether you are getting good value for what you’re paying. So do some research to kick the process off, including checking your own needs so you can compare ‘apples with apples’.

Thirdly, choose how you want to contact the provider. There are 3 basic approaches – phone, email or live chat. The phone is the most direct way but can be more intimidating for some. Live Chat is becoming very popular, as it also allows you easily to be checking information and prices online whilst chatting to the operator.

Lastly, always start by talking to your existing provider. You never know what deal they will offer you until you ask. And it just might save the extra effort of giving your personal information (again) to a new provider.

How to avoid paying it

Some simple tips to avoid paying the ‘loyalty tax’.

1. Know when it’s the right time to do your shopping around. Ideally, as you near the expiry of your existing contract or plan. For long term commitments like a mortgage, review your interest rate every two to three years especially in a low interest rate market.

2. Allocate some time to shop around. It doesn’t need to take hours. Usually, a 15 minute online search will arm you with enough pricing options to contact the current provider and ask what can they do.

3. Have realistic price expectations.

And when your actions actually lead to saving money, bask in the wonderful sense of personal satisfaction and stop paying the ‘loyalty tax’ ever again 🙂

How GetReminded can help

Download the app from Apple or Google Play. Set up reminders for all your personal, family and household expenses. And get the added bonus of being informed about great deals in the market. It really is the way to never overpay.

Join our community

For more lifehack and money-saving tips to empower you, read more of our blogs and connect on Instagram or Facebook.

6 Podcasts to Help You Save Money

Thinking of how to save up for rent, travel or maybe to own your first home? We’ve got 6 ways and you can do them lying down.

They’re called podcasts.

If you haven’t realised the efficiency, accessibility and relevance of podcasts yet, now is a good time. Whether on public transport, in the shower or trying to sneak a cat nap, podcasts are one of our favourite ways to learn.

And best of all, they can help us save money. Because how to save just isn’t obvious to most of us. So we’ve curated a list of our favourite podcasters to start us off. They’re tuned in, clever, and deliver all the juicy tips without too much mental strain.

The icing on the cake? They’re totally free.

So here are 6 podcasts that can help you save money.

She’s On The Money

Victoria Devine hosts one of Australia’s top finance podcasts. From tips on real estate to personal insurance and other life hacks, she shares where millennials often get stuck when it comes to money. What we also love is the monthly “Money Diary” episode where she speaks to a variety of individuals about their personal struggles with finances. It’s always a pleasant surprise and very relatable.

My Millennial Money

Money talk can be so serious sometimes. Glen James and John Pidgeon are the antidote. With a little humour, they give us a well-rounded look at today’s common problems with money. They’ll also tackle investments, EFTs and government policies that might affect you. Pro tip: check out their September episode called “how to save money ASAP”—it could help you get on the right track to save up for your home deposit quicker.

You Need A Budget (YNAB)

We found this a straightforward approach to all things budgeting—covering interviews with people who have completely altered their relationship with saving, to cryptocurrency and budgeting in young families. A good example of their perspective is their term “YNAB broke”, which they deem a badge of honour for good saving and budgeting.

The Property Couch

If you’re saving for a property goal, who better to offer perspective than property experts Bryce Holdaway and Ben Kingsley. They take on the fundamentals like loan structuring and how to bid at auctions. The podcast also gives us a range of lessons on passive income through investing.

Money Girl

If you hail from a publishing group called Quick and Dirty Tips, we know the advice is going to be efficient. Money Girl is a collection of short, bite-sized episodes about ruling your finances. Their goal? For you to have a richer life. So queue it up and listen your way to smarter spending.

Martinis And Your Money

We admit to falling for the premise—having your podcaster sip on a martini while she lays the financing laws on us is just too good. They introduce themselves as a financial gym, where you focus on your finances, just like you’d focus on your triceps. We recommend starting off with their episode on property called, “Real Estate with The Happy Hour Ladies”. And yes, you can have a cocktail too.

Check out other GetReminded posts for more tips and advice on how to save.

If you haven’t already, don’t forget to download our app so we can help you save on recurring annual expenses.