30 creative ways to tighten your spending in 2024

We know it is hard to save, so let’s get inventive with our 30 best and most creative tips for saving for your house deposit!

May 2024 | By Fall Real Estate | 10 Minute Read | Tags: Buy, Guide,

How to save for a house deposit

Save for a house deposit | Fall Real Estate

When times get tough and saving just isn’t happening, we need to get imaginative.


Below are 30 creative ways to save for a house deposit, which will take you to the next level with your savings account.


So, if you are thinking, more than ever, you need to buckle down and tighten your spending belt! Our 30 creative tips will help you to obtain your goal house deposit!


We recommend getting a pen and paper to create a checklist using the best saving tips below to save for your first home deposit.


You may also like to check out our ten steps to save for a deposit on a house to help straighten out your finances and make you one step closer to saving for your house deposit.

30 creative ways to save for a house deposit

30 creative ways to save for a house deposit | Fall Real Estate

1. Bring a packed lunch from home

In fact, pack morning tea, lunch and an afternoon snack. This way, you will be less likely to impulse buy while you are hungry or be left wishing you had packed more food!

2. Be comfortable with you

Have you ever stopped to think you are beautiful just the way you are? Go natural, and stop colouring your hair, waxing your legs, or tinting your eyebrows.

3. Alcohol and cigarettes

Tighten spending in 2023 - Fall Real Estate

We know that alcohol and cigarettes are unhealthy habits for our bodies. They are also unhealthy for our bank accounts. Click here to find out how much smoking costs you annually.

4. Free exercise - cut the gym membership

Get outside and breathe the fresh air. There is nothing more satisfying than being out in nature and getting your heart pumping! So, why not exercise outside, save some dollars, and cut your gym membership?

5. Research items to find the best price

When you are looking for your next pair of shoes or a trendy case for your laptop, do your research online and in-store to find the best deal. Taking the time to find the best deal for each purchase could see you saving hundreds of dollars by the end of the year.

6. Buy groceries online

You can benefit from purchasing your groceries online by 1. choosing the online-only specials and 2. when you finish your grocery list, revisit each item and delete unnecessary items so you can stay under budget for your weekly shop.

Read our full article on understanding the property cycle

It’s very likely that you’ve heard the term ‘property cycle’ – but you might not be entirely sure what it means - find out here

7. Use one car

If you are a household with more than one car, you can choose to sell one of your cars.
Registration fees for a light vehicle in Tasmania are $500+ per car and don’t forget to check how much your insurance costs per year.

8. Downgrade your car

Perhaps, you could do with a cheaper and smaller car. Downgrading or downsizing your car will make a cheaper registration fee, insurance bill and more money in the bank.

9. Use transport

You could use transport to get to work and save on petrol and parking fees. If you work in Hobart, there may be a “park and ride” system near you. You can catch the Derwent Ferry into town if you live on the Eastern Shore. Alternatively, if you live close to work, why not ride your bike or scooter instead?

10. Rent a smaller place

Go hard or go home. Save money by renting a smaller property while saving for your dream home. Moving to a smaller space may seem like a huge sacrifice, but it will help you to save more quickly!

11. Sell your unwanted items

Your unwanted item could be something someone else needs or wants. Consider walking around your home and pulling out all the items you don’t use or no longer need. Use a nice background, ensure each item is clean, and take a few snapshots of each item ready to post on Facebook Marketplace, Gumtree or have an online garage sale!

12. Get a side hustle and monetise your spare time

What is one of your hidden talents? Do you like making things with your hands or a skill for making things grow in your garden? You could sell your paintings or crocheted blankets on Etsy or sell herbs and native plants to local residents who would like to have them in their garden.

13. Move back home or into a share house

Moving back home may be just what you need to save those extra pennies—home-cooked meals and sharing the house chores again may not be such a bad idea!

14. Adjust your lifestyle

What and where are you spending the most money in your leisure time? Consider adjusting how much you spend during your time off while you save for your house deposit.

15. Check your paid subscriptions

How to save 2023 - Fall Real Estate

How many paid subscriptions have you joined? Are you still using all of the subscriptions? Consider deleting these, at least for a time, while you tighten your belt and save.

16. Have you got the best deal?

Have you got the best deal for the bills you pay regularly?

Check the following areas to see if you can find a better deal or company that will charge you less for the same service or product:

  • All your insurance companies (car, house, medical and so on)
  • Mobile phone or house phone plan
  • Internet package
  • Bank account interest rates and fees

17. House sitting

House sitting can be a great way to save on rent! If you know anyone going away for an extended period, you can let them know you are interested.

18. Go to beauty school

Not to enrol – instead, book in to get your hair cut, permed or dyed! Booking an appointment with a student who wants to gain experience will save you some money!

19. Invest in a deep freezer

It sounds counterintuitive – you are supposed to be saving money, not spending it! However, extra freezer space means you can buy food in bulk and have plenty of space to put in pre-made meals. You can also pick up second-hand freezers fairly easily and cheaply. Just ensure they are working and clean!

20. Double or triple the recipe

How to save money 2023 - Fall Real Estate

If you are a family of two, you could cook for a family of four. Or perhaps you are a family of five? Then, why not cook for a dinner party? There will be leftovers for everyone for lunch or dinner the next day.


Better yet, cook a few meals at once. Bulk cooking and baking will not only save you money but also time! Later in the week, you will have no excuse to give in to your takeaway cravings.

21. Make your own gifts

Jump on Pinterest for creative homemade gift ideas. You can find cards, care packages, candles, home decor ideas, and more! Something made by you will be even more special to your colleague, friend or family member.

22. Become familiar with deal sites

Sometimes, you need to spend money, and it’s important to treat yourself occasionally, but that doesn’t mean you can’t save money in the process. Jump online to find coupons and deals for just about everything, including restaurants, auto services, homewares, and local entertainment.

Remember, if something seems too good to be true, it probably is!

23. Apply the ‘30 Day Rule’

While we’re talking about internet shopping, we should throw in the ‘30 Day Rule’ test to your money-saving toolbox. If you ever feel like splurging on a potentially unnecessary purchase, simply write it down and wait 30 days. If you still want it after a month, allow yourself to purchase it. At the very least, it will be interesting to see how many items you decide against!

24. Put one item back

If you are like most people, you probably add a thing or two to your trolley that you don’t actually need. Every time you go through the checkout, give one item back to the person serving you. It will add up over time!

25. Don’t go hungry

Do not go grocery shopping when you are hungry. This is when you impulse buy, get too much and purchase items you can quickly eat.

26. BYO bottle

If you are heading out to eat and plan on having a glass or two of wine with a delicious meal, choose somewhere you can take your own bottle. It will cut a lot off your bill!

27. Get more sleep

This is not a straightforward strategy for saving money, but it may help! Sleeping more will prevent late-night snacking or drinking, reduce your power bill and give you the focus and energy you need to stick to your money-saving endeavour. Win-win!

28. Drive smart

Driving at a fast pace with abrupt braking and heavy-footed acceleration will lead to higher fuel consumption. This will also increase the wear on your car, resulting in a higher cost to upkeep overall. Instead, drive with care, take advantage of cruise control, remove excess weight from your vehicle and use air conditioning sparingly to improve fuel efficiency.

29. Pack your own travel snacks

Snacks while travelling can be expensive! Particularly in airports, and especially if you have children! Save yourself (and your family) from being hangry by packing snacks that won’t break the budget – and will probably be better for you.

30. Get a library card

Yes, they still exist – and you can access so much more than just thousands of books. You can borrow movies, CDs, magazines and newspapers. Plus, it gives you a quiet space to escape the chaos so you can plan and implement the creative ways you and your family will save for your house deposit.


With these 30 creative tips to help save for your house deposit, you can watch your visual progress bar creep closer and closer to your goal faster!


There are many creative ways to tighten your spending and save faster to reach your end goal: a house deposit! If you have read our above inventive tips and ideas, we know you are highly motivated to save - but it may still seem unattainable.


So, if you want to feel more confident and have a concrete plan, continue to our practical guide on How to save for a deposit to buy a house in Australia. You will find ten useful steps to straighten your finances and improve your ability to save for your dream home.


We hope you reach your goal faster with our above 30 creative tips to save for a house deposit!

Disclaimer: The information on this website is not legal or professional advice and is general in nature; therefore, the editorial content or articles on this website are intended as a guide only and do not consider your personal objectives, financial situation or particular needs. For more information, please read our Terms of Use and Privacy Policy.

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