8 Clever Money Hacks You *Need* to Know

 Cosmo Australia’s financial columnist and CEO of LearnVest, Alexa von Tobel, tells us when to go big and when to save.  

1. Splurge On Your Haircut: For something you’re in 24-7-365, like your hair, spending a lot is worth it. Think of it in terms of cost per wear... Ditto for eyeglasses and jeans.


2. Splurge On Phone Chargers: Best-case scenario with a cheap phone charger is that it takes forever to power up your phone. Worst-case: it damages or fries it—they tend to be poorly made.


3. Save on...Trendy Stuff: Speaking of costs per wear, crunch the numbers before you shell out the big bucks for psychedelic-print pants and neoprene anything. If it’ll have a short shelf life, get it at Jabong or ASOS.


4. Save on...Fitness bands: You don’t really need a high-tech fitness tracker to monitor your distance and calorie loss. As Sunalini Mathew, Deputy Editor Reader’s Digest, tells us, a free app (like MyFitnessPal and Noom Coach) does the job just as well.


5. Splurge On Health Insurance: Budget insurance may seem like a good deal because of low monthly premiums, but you’ll pay a higher deductible before insurance chips in. Don’t settle for a bronze plan if you can afford a gold one.


6. Splurge On Your Mattress: You sleep on it every single night. Enough said!


7. Save on...Scripts: Ask the pharmacist for cheaper, generic brands instead of fancy, imported versions—especially when you’re buying vitamins.


8. Save on...Your car: New cars lose an estimated 20 percent of their value as soon as you drive them. Buy a used one that’s less than three years old (vehicle warranties tend to expire after that).



Cosmo Girls Offer More Tips...

Shruti Rai Choudhary, 28


Save On : Eating out, Movies, Shoes

Splurge On : Vacations, Clothes, Make-up


Bhavyaa Chopra, 22


Save On : Clothes, Shoes, Food

Splurge On : Make-up, Fragrances, Accessories


Sakshi Kedia, 23


Save On : Clothes, Bags, Fragrances

Splurge On : Lingerie, Shoes, Make-up