I joined as a paid member of www.simplesavings.com.au a year ago to see if I could find any useful money savings tips on it. In this review I go through the pros and cons of paying to be a www.simplesavings.com.au member
The premise of www.simplesavings.com.au is that most people pay too much money for things but never realise it, so they are always behind. They are always in debt and continually playing catch-up. It is a pretty horrible time-deprived way to live.
I can’t see anything wrong with that statement, today’s economy makes it all to easy for people to access easy credit and splurge it on consuming vast quantities of things they actually don’t need.
www.simplesavings.com.au aims to teach you how to become a smarter consumer and says it will be easy. This is arguable, a large part of saving money is psychological – getting into the right state of mind and having the willpower to keep your savings habit without succumbing to temptation and spending all your savings after a few weeks or months.
What You Get for being a Simple Savings Member
- Members have full access to thousands of tips at the Savings Savings website 24/7
- The majority of these tips (cleaning, cooking, shopping, paying the mortgage etc) seem to be targeted and quite relevant for families with children, couples and senior citizens. Single people and renters in share houses could also find the tips useful
- The sites main strength in my opinion is the sense of community it engenders – the idea that all the other members are in the same boat as you and you’re all pulling towards the same goals
- Tip sheets for common situations eg: Handmade Gifts for Christmas, Innovative and Low Cost Ways to Save on Cleaning, Budget Travel Ideas and How to Host a Garage Sale
- Memory Triggers which make it easier for you to ditch your old expensive habits and switch to cheaper, smarter ones eg: For people spending lots of money on cigarettes, buying takeaway food every day etc
- Regular email newsletters highlighting new tips and members savings success stories
Why I Didn’t Renew My Simple Savings Membership
- I looked throughout the site and read many of its tips but I didn’t find any tips that were both relevant to me and which I wasn’t already doing
- In the end I decided that in my case it wasn’t worth renewing membership because of a problem lots of people would like to have … I’m already very good at saving money, sticking to long term plans and investing it in places where it will earn a good return like high interest bank accounts and low cost index share funds
In fact I was recently interviewed by the Australian Financial Review on the topic of saving and high interest bank accounts 🙂
- Even if the tips were relevant to me I would still be a bit annoyed at the owners of Simple Savings for not doing “housekeeping” and tidying up out of date tips eg:
“Get 5% interest with ING – dated January 31, 2004” – ING Direct is no longer the best place to get high interest on savings. In fact their rate isn’t even in the top #10 best rates list at the moment.
“Transfer debt to Virgin credit card” – dated March 2, 2004 – Virgin Credit cards are no longer being issued as Westpac has bought out rights to all the customers (as of April 3 2008).
“Computer” tips – quite a few are really out of date, especially when relating to pricing and technical specifications, same applies for pricing of “Telecommunications/Phone” tips.
- I’ve worked in the marketing industry before and also have to constantly delete comment spam on my websites so to me some of the tips looked suspiciously like they were planted there by the company that was being promoted as a great place to buy products/services from. Call me Mr Cynical but that’s what I thought.
However mine is not a common case, for the vast majority of people out there I definitely recommend joining www.simplesavings.com.au. By adopting their procedures and following their tips you’ll quickly start saving money.
At present the cost to join Simple Savings is $47 and to renew a membership is $17.