These last couple of weeks was a big tick for frugal wins for this millennial when it comes to adulting. With recent break-ins to my garage, global pandemics and increasing unease about my financial situation because the economy has been shut down, my focus has been to put some measures in place to help buffer the blow if anything should happen.
7 FRUGAL WINS
- I got a blood test from a bulk-billed clinic, which means that all costs are covered by Medicare (government healthcare system) and I didn’t have any out of pocket expenses which was fantastic. I’m so grateful for the Australian health care system.
- I bought $110 worth of contact lenses and it was all covered by my private health care insurance
- I found a dentist which was bulk-billed, which meant that it was free of charge for me, and my private health insurer covers the cost of the appointment. Every 6 months I can get a clean and check up for free, which is a huge savings given that I was paying $200+ for this previously at a private clinic.
- With a health crisis on our hands and economic collapse hitting everyone hard, I decided to get income insurance in case I get injured or sick and can’t work. The advice from from the CFO at work who very, very kindly took me out for coffee after I responded to a work personal finance email and he advised to get this. I decided to get it through my superannuation fund after flicking through the Barefoot Investor book and save myself paying insurance out of my salary. This way, I get 90% of my salary covered for a tiny price (<$15 per month) rather than 50% for $20 per month outside of my super.
- My garage was broken into earlier this month and it was a wake-up call to get home contents insurance to cover the medium-sized incidents not just the big incidents. I called my insurance company and the sales assistant was so helpful. He doubled my home contents insurance and reduced my excess from $600 to $350, all for only $6 extra a month. I was very happy with this.
- My glasses broke and the retailer which I bought them from repaired them for free.
- My very ancient dishwasher broke in the apartment so the landlord replaced it with a new fancy Bosch dishwasher. It’s a big upgrade from what we had before!
2 FRUGAL FAILS
- I left 2 salmon fillets out to thaw for dinner and forgot about them. When I realised in the morning they had gone off. I was so annoyed with myself wasting these two fillets, especially when grocery stores have been stripped bare with people hoarding food due to the coronavirus pandemic.
- I forgot to check the amount on my grocery bank card when I purchased something and got a $15 overdraft fine for an overdraft. I usually check the balance before but forgot this time and paid a hefty fine for it.
What are you doing in these uneasy economic times? Are you taking any precautions or cutting down expenses? Comment below!
xx Miss Piggy