My sister has earned the nickname ‘Stingy Steph’ from every one of her groups of friends. She hasn’t earned it by mooching off other people or being ungenerous. She’s just really good at saving. As a marketing coordinator who seems impervious to advertising and the only person I know who went to Europe for two years and came back with nearly the same amount of money, she could certainly give a few pointers on resisting your impulses.

So now you know how qualified she is at saving, here are some tips from Steph:

• Don’t let your groceries fool you – when shopping calculate the per kilo price, this is sometimes printed in small numbers on the bottom of the price tag. If you choose the lowest per kilo price you will end up saving in the long run.

• Get Organised – Plan your meals this way you will not waste money with food wastage.

• Divide your Money – Set up a direct debit on your everyday account, have a certain amount go to a savings account which you don’t touch, another regular amount go to your entertainment account and leave only money in your everyday account to pay bills.

• Shop Smart – When buying a new items, research the cheapest online price first. Many shops will match the price.

• Come Second – If you need big ticket items like white goods, try shopping for seconds, they are in good condition and sometimes half the price.

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The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.