We’ve all read those articles giving you tips on how to save money. You know the ones, that usually start by telling you to cut back on your takeaway coffee and to start making your smashed avocado at home. Yep, they’re the ones we’re talking about…

And to be honest, it’s all sensible advice, especially if you’re trying to save up for something big, like a new car, a house deposit or an overseas trip.

But there must be more ways than going without your favourite caffeinated beverage or brunch to save money?

So, let’s explore some less obvious, but just as effective, ways of doing it…

Become a slow fashion disciple

Once upon a time, people only bought clothes when their old ones wore out. They were typically higher quality pieces, often homemade from locally produced textiles. Unfortunately, as technology advanced so did the rise of fast fashion. These days clothes are made en masse and from cheaper materials. They’re often only worn a few times and then discarded. It may seem counter intuitive to spend money to save money but in this case it’s true. By outlaying a little bit more, you may find your fashion piece will last a lot longer – think quality over quantity – meaning you’ll spend less often, and you’ll send less to landfill too!

Ask for a discount

When was the last time you asked for a discount when making a purchase? Never? Well, you may have cost yourself some savings. Not all stores will be happy to knock 10% off the price of your purchase but you’ll never know unless you ask. What’s the worst thing they can say?

There are other ways to get cheaper prices on purchases. Using a comparison site online is one way. There are heaps of sites out there for you to try (think finder, getprice and price me). You can compare prices on products from clothing, appliances, and travel to finance, loans and insurance and more. And if you’re not keen on jumping online, then why not check out the Entertainment book – it’s a fundraising staple of many a school and charitable organisation. So you can purchase one of these and you’ll not only feel good by supporting your favourite charity, but also reap the reward of discounts from local restaurants, cafes, and activities, not to mention travel, accommodation and hire car discounts (plus a whole heap more!).

Park your savings in an offset account

Hands up if you have a home loan? Does it have the option of an offset account? Not sure? Well, now’s the time to find out. An offset account linked to your home loan will help reduce the amount of interest you are charged on your loan. Think about it like this:

You have a loan of $400,000 and $10,000 sitting in your offset account. Instead of being charged interest on the total $400,000 you will only be charged interest on $390,000. The more money you hold in your offset account, the less interest you’ll pay! Over the life of the loan you could save thousands of dollars and reduce the time it takes to pay off your home loan.

Are you getting all the tax deductions you’re entitled to?

Not sure if you’re getting the most out of your tax? To find out… it’s a good idea to talk to a tax agent - someone who specialises in tax - so you know what deductibles you can claim. They will also be able to advise you about what tax concessions you may be able to take advantage of to reduce profit or capital gains to lower your taxable income. If you’re tax is typically straightforward, take the opportunity to think about your budget and expenses. If you know what’s coming in and what’s going out each month, you’ll be much more motivated to save more!

Get a side hustle

There’s a hundred and one ways to make a few dollars on the side. You may be an avid writer or a whiz at developing websites? Do you like to do odd jobs? Even if you’re not that creative type or into DIY, you might find that online selling is your thing. These days to sell your unwanted items, it’s as simple as taking a pic and posting it to Facebook. But there are plenty of other options like eBay or Gumtree too, depending on what it is you are trying to sell. Feeling nostalgic? Then you could always go old school and opt for a garage sale. It’s a great option when you’ve accumulated lots of things and have a few hours to spare on a weekend, to sell it all in one hit.

There you have it: 5 ways to save money that don’t involve giving up your coffee. What’s your go-to when trying to save money?

 Please note this information is general in nature and does not take into account your personal circumstances or objectives. You should consider this before acting on any of the information contained.