Mother, 38, who saved $36,000 in 12 months reveals her top five money saving 'hacks' - and the simple way she buys designer clothes for 80 per cent OFF

  • Canna Campbell, 38, is a finance expert and YouTuber based in Sydney  
  • She saved $36,000 in 12 months and recently revealed her top five saving hacks 
  • She uses a page called HIGH-END to buy pre-loved designer clothing  
  • She also swears by her Frequent Flyer program and is refinancing her home loan 

By Laura House For Daily Mail Australia

Published: 21:54 EDT, 2 September 2019 | Updated: 21:56 EDT, 2 September 2019

A finance expert who saved $36,000 in 12 months has revealed the five money-saving 'hacks' she swears by for boosting her bank account.

Canna Campbell, the Sydney-based founder of SugarMamma, put together a YouTube video to share her simple tricks for saving money on travel, high-end clothing and her home loan repayments.    

'The other day I was thinking about my favourite money saving hacks - the ones that make me most excited, proud and like I'm making a really big difference in improving my financial wellbeing,' Canna said.

'But remember when you save money you want to make sure that those savings really count. When you realise you have saved $200, use that to pay off your own financial goals rather than spend it elsewhere.'

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Canna Campbell, the Sydney-based founder of SugarMamma , recently put together a YouTube video to share her simple tricks and how she saves money on travel, high-end clothing and her home loan repayments

Canna Campbell, the Sydney-based founder of SugarMamma , recently put together a YouTube video to share her simple tricks and how she saves money on travel, high-end clothing and her home loan repayments

1. USE LOYALTY PROGRAMS

Canna is a 'huge fan' of loyalty programs but only for businesses and services that she uses. 

My Frequent Flyer program pays for at least two international for me every year with savings between $4,000 and $10,000 a year. 

'My number one favourite and beneficial program is my Frequent Flyer program [Qantas] and when I joined up I took the time to invest in really understanding how it worked,' Canna said.

'I always fly with that airline - both internationally and domestically - and when I can't I always use their partner program. This includes both my work travel and personal travel so I can earn extra points and create a really high status.

'I also use the affiliated businesses in relation to that airline. I will generally try to shop through those associated businesses so I earn extra points,' she said

'I also use the affiliated businesses in relation to that airline. I will generally try to shop through those associated businesses so I earn extra points,' she said

'My number one favourite and beneficial program is my Frequent Flyer program [Qantas] and w hen I joined up I took the time to invest in really understanding how it worked,' Canna said

'My number one favourite and beneficial program is my Frequent Flyer program [Qantas] and w hen I joined up I took the time to invest in really understanding how it worked,' Canna said

'I have also linked my personal credit card to my Frequent Flyer program so when I go and buy something like a big ticket item I will immediately transfer the cash to my credit card and pay for that item.'

This ensures that Canna is not paying any interest or getting into debt - but is still collecting valuable points. 

'I also use the affiliated businesses in relation to that airline. I will generally try to shop through those associated businesses so I earn extra points,' she said.

'A great example of this is the ANZ share trading platform. My portfolios are through this platform so my brokerage fees means I earn more Frequent Flyer points. 

'My program pays for at least two international for me and Tom every year with savings between $4,000 and $10,000 a year. It is well worth it.'

'My program pays for at least two international for me and Tom every year with savings between $4,000 and $10,000 a year. It is well worth it,' she said

What are Canna's other money saving hacks?

* ROUND UP: Say you spend $7.50 on your credit card, you should pay off $10 so you always have a buffer or a surplus to cover you. That way, at the end of the month, you can either save more or treat yourself to something nice.

* PAY MONTHLY: Even if your bills are quarterly, bi-annually or annually, you need to try and pay them off monthly - or at least put away a small figure each month. That way, paying them off won't come as a nasty surprise.

* CHECK YOUR ACCOUNTS DAILY: If not twice a day. Canna said this will help to keep you accountable and responsible and means you always know if you're over or under budget.

 

2. RE-FINANCE YOUR HOME LOAN 

Canna says her second and 'best' money saving hack is re-financing your home loan.  

'I was a bit complacent and lazy when it came to my home loan because I was so busy but when I looked at the Athena home loan rate (no this isn't sponsored) I saw how low it was and then checked mine and I was horrified,' Canna said. 

'In stepping up and looking at other interest rates out there Tom and I are saving $25,000 per year in re-financing our home loan. 

'When it comes to refinancing and getting a lower interest rate you must maintain your same mortgage repayments as what you are currently paying. Not only is this going to save us the $25,000 per year in interest, we are going to be paying it off so much faster.'

Canna says her second and 'best' money saving hack is simply re-financing your home loan

Canna says her second and 'best' money saving hack is simply re-financing your home loan

3. STRUCTURE YOUR INSURANCE 

Canna says this 'cash flow hack' saves her money as she structures all of her personal insurance where possible through her superannuation account.  

'Most superannuation accounts allow you to take out life cover, total and permanent disablement cover and some of them allow you to take out income protection,' Canna said.

'I have all three through my super account. The key benefit is that the premiums are paid through my superannuation account balance which means my cash flow can continue to be directed towards paying off my home loan as quickly as possible. 

'The secondary benefit to this is you often get a group discount, which means the premiums come down quite significantly - between 20 and 30 per cent.'

4. FOOD PLANNING

As a strong advocate for preventing food wastage, this is one area that Canna feels particularly passionately about.

'Every Sunday I religiously go through my diary and look at the week ahead - I look at what nights we are home for dinner, who is going to be home and any other commitments and I will plan and prepare the meals for each night,' Canna said. 

'I also go and triple check the pantry, the fridge and the freezer so I don't double up on ingredients I already have and when I plan in advance I always pick healthier meals. I will pick more veggie-based meals and meals that satisfy everyone in the household.  

'I find that my energy levels are so much better, I get more done in my day and I sleep better. It's a win-win on all fronts when you eat healthier and food plan.'

'Every Sunday I religiously go through my diary and look at the week ahead - I look at what nights we are home for dinner, who is going to be home and any other commitments and I will plan and prepare the meals for each night,' Canna said

'Every Sunday I religiously go through my diary and look at the week ahead - I look at what nights we are home for dinner, who is going to be home and any other commitments and I will plan and prepare the meals for each night,' Canna said

'I also go and triple check the pantry, the fridge and the freezer so I don't double up on ingredients,' she sadded

'I also go and triple check the pantry, the fridge and the freezer so I don't double up on ingredients,' she sadded

5. BUY PRE-LOVED CLOTHES 

'My fifth and most fabulous money saving hack is buying pre-loved clothes, I love a little bit of luxury,' Canna said. 

'One of my favourite places to do that is on a closed group on Facebook called HIGH-END. They have about 81,000 members and they are always selling Australian and international designers. You can pick up pieces for 70 - 80 per cent off.

'Only an hour ago I bought a beautiful red dress and I've already worked out that I have three upcoming events where I can wear this dress. 

'Remember my money mantra: Only buy what you love, value, use and appreciate.' 

'One of my favourite places to do that is on a closed group on Facebook called HIGH-END . They have about 81,000 members and they are always selling Australian and international designers. You can pick up pieces for 70 - 80 per cent off,' she said

'One of my favourite places to do that is on a closed group on Facebook called HIGH-END . They have about 81,000 members and they are always selling Australian and international designers. You can pick up pieces for 70 - 80 per cent off,' she said 

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Canna Campbell reveals her top five money saving 'hacks'

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