Are you finding that your dollar has to stretch even further these days? Are you feeling a strain on your hip pocket? Well, you are not the only one. Some of the financial pressures affecting many Australians these days include rising petrol and food prices, escalating interest rates and the ever present threat of sky rocketing inflation.

Below are some easy and creative ways on how to make your dollar go further. Remember, it's not what you earn, but what you do with it that counts. If you need help with budgeting or savings, speak to one of the financial planners at Intellichoice today on 1300 55 10 45.

Review your bank

Take the time to research the various products offered by the banks including the savings accounts currently on the market, the fees they charge and the interest rates. Other ways to save money with your bank include using your bank's ATM so you don't incur costs for using a different bank's ATM, shopping around for the lowest credit card interest rate – if you really must have one, or combining your all your insurance policies (home and contents insurance and car insurance) with one insurer - all of which will save you money.

Have fun for less

Shop-A-Dockets usually offer discounts for theme parks, local sports clubs and RSLs. Adults can get into theme parks at kids prices, you can buy a main meal and get the second meal for free, or some even let kids eat for free. Other ways to save money include packing the family a lunch and going for a picnic or bake your own biccies and cakes, which can also double as good presents too with some creative thinking.

Get the smallest car you can because, the smaller the car, the more money you can save, especially on petrol. Buy petrol on Tuesday or Wednesday when it's often cheaper and fight the urge to buy junk food at the counter.

Switch appliances off at the wall, change to energy efficient light bulbs, use the dryer only if absolutely necessary and avoid high priced cleaning products and go natural. Bicarbonate of soda and vinegar are excellent household cleaners and generally retail at less than a few dollars.

Make some extra money

Have a garage sale or sell items you no longer use on eBay. You might be surprised at how one person's trash is another person's treasure.

Buy a coffee machine

If you buy two coffees each day at $4 each, it would have you cost you about $3000 for the year. A coffee machine bought at a sale will cost you much less. You will also be reducing your use of paper cups, which is great for the environment. Eat at home more and take lunch or leftovers to work. You could save about $2,600 a year if you bought lunch to work everyday instead of having take-away food (based on $10 a day, five days a week for lunch). The savings can be put towards your mortgage, a deposit for your home, or a holiday.

Drink cleanskins

Quality wine doesn't necessarily need to have a fancy label. Buy in bulk and you can save, for example, if you buy a dozen bottles in one hit. You could also save about $7 on a bottle of wine that would have cost about $20 by shopping at a liquor warehouse or online. That's an $84 saving each time and even cheaper if you split the cost with friends.

And take a list and only buy what's on it. Also, while supermarkets may be convenient, they are not necessarily cheaper or sell better quality products. For meat, fruit and veg, compare prices with the local butcher and green grocer. Quite often, they are more competitively priced and are much better quality. Buy essentials, like toilet paper and washing powder in bulk and you could save also some yourself some money.

Pay in cash

Paying in cash can often get you a discount, especially with big ticket items and you'll be surprised at how willing retailers are to negotiate. Keep an eye out for when the sales are on so you avoid splashing out money on stuff you don't really need or want. If you've got to have it, lay-by it. Lay-by is a smart way to buy goods if you can't afford them straight away because, unlike credit, you don't have to pay interest.

A bit on the side

Make use of government tax incentives. Paying extra money into your superannuation could mean you are entitled to a free $1,000 super boost from the Government. Under the Federal Government's co-contribution scheme, if you put in at least at least $1,000 of your own (after tax) money into your super, you could be entitled to $1,000 from the Government.

For help with budgeting, managing debt or savings, speak to one of the qualified financial planners at Intellichoice today on 1300 55 10 45.

Pay off your credit card in full

The best strategy is often to pay off your credit card in full each month, but if you can't do that, then at least repay the minimum payment by the due date on your monthly card statement.

Take advantage of interest free periods

There are many providers that offer credit cards with up to 55 interest-free days on certain purchases, sometimes more. In essence, this means you won't be charged any interest on eligible purchases if you've been paying the closing balance in full by the payment due date on each monthly statement.

If you're in trouble, stop spending

If you do fall behind with your credit card payments, try to stop using your credit cards and start using cash until you get on top of your debt.

Decrease your credit limit

If you're spending beyond your means, you should speak to your bank/mortgage lender about decreasing your credit limit.

Consolidate your credit cards

Consolidate your credit cards into one loan payment is a good idea - use a debt consolidation loan to consolidate multiple credit cards, so you only have to think about making one repayment each month instead of juggling multiple debts.

Avoid overdraw fees

Ask your credit card provider to switch off any overdraw facility on your credit card.

If you're worried about managing your credit card debt, contact the financial planners at Intellichoice today on 1300 55 10 45 for some practical and easy to implement strategies to get you back on track. We can assist with debt consolidation, debt management, budgeting, savings tips and more.

Below are seven things that will help you avoid getting into financial trouble.

1. Live Within Your Means

Everything starts with a little bit of self control. Before you buy that new outfit, think whether you really need it. Learn to say no - or at least until you can save for it. Make the decision to buy the necessities first, and learn to say "No" to the rest.

2. Trying To Get Too Much Too Fast

Many financial problems seem to start right here. Many young people want to enjoy all those comforts and own those luxury items – right now. But they fail to understand that a great part of having a comfortable lifestyle is to do it without getting a lot of debt. Start a savings plan or use a budget planner to help you get on track to having a comfortable lifestyle.

3. Develop A Budget

A budget will give you the means to effectively control one of your greatest personal resources - your money, and allows you to use it successfully.

4. Comparison Shopping

Through comparison shopping for many of your purchases, it can help you to save money on a regular basis. Sometimes we want some things so bad when we see them, that we feel we must have it right now - even if the store across the street might have it for sale at 10% less.

6. Controlling Your Finances

A simple thing that many people fail to do is setting their finances in order so that they know where their money is going. In most cases, people who start keeping a record of their expenses often end up being surprised at how much they spend on trivial things. A budget planner can help you work out your income and expenses. Once you know where your money is going, you can then work out which expenses you can eliminate and start saving for that overseas holiday or a deposit for your new home.

7. Do You Have Savings For Future Needs And Wants?

Every now and then, an unexpected emergency can come up for which we need some money on hand. Whether it is a medical reason, or just an overseas holiday, having some extra cash set aside can provide for some great opportunities and unforgettable moments. Each month, put some money aside, at least 5% of your salary (10% is better) which can be used for your short term and long term goals.

Three Tips To Help

First, reduce your bad debt. If you are over your head in debt, you need to make a plan to get out of debt. Seek financial counsel if you must. You can speak to the financial planners at Intellichoice about a debt consolidation loan or use a budget to get a better understanding on where your money is going.

Secondly, seek proper protection for your finances - get some insurance - for example life insurance and health.

Finally, get some long-term investments and start planning for a comfortable retirement.

If you need help with budgeting, debt management or putting a savings plan in place, speak to one of the financial planners at Intellichoice today on 1300 55 10 45.

What does 'Paying Yourself First' mean?

It means that you simply set aside a certain amount of money each month that you will not touch (pay yourself), even before you pay your bills and expenses (pay others).

1. Decide what percent of your fortnightly salary or income you want to set aside. When you get your pay check, the very first thing you do is to put this amount aside, hence the term 'pay yourself first'.

The percentage of money you set aside will differ from person to person and will depend on the comfort level and wealth target you wish to achieve. For most people, we recommend you set aside 10% - 15% of your income. You can increase the money you set aside, but again, this will depend on your comfort level, and your wealth target.

2. Decide what you want to do with the money that has been set aside. Many will simply put the amount into their saving account. However, the idea of paying yourself first is to use it for your wealth building.

You should be looking into investing the funds instead of just saving them. Saving alone will not help you to reach your financial success. Let the money earn you more money by investing it. Consult with your financial planner to decide the kind of investment portfolio that suits you based on your current financial circumstances and goals.

You can also set up an automatic withdraw from your normal savings bank account to your account that you use for investments. This is when money is automatically taken out of your savings or checking account each fortnight/month and put into your investment. This way, it does not rely on your ability to set aside a certain amount each month, but it will automatically take it out for you and it is also easy once you realize how you do not miss the money.

3. Pay off your bills.

4. Live on whatever is left over from your pay check. It does not however imply that you need to use up every single cents of what is left. If you have surplus, then good for you. If you have a substantial surplus, then go back and re-adjust your investment amount. For example, you can increase your monthly set-aside amount for investment, and let it generate more money for you. Try to limit your credit card debt.

As you start to build assets, you will see that the income from your assets will allow you to pay for your personal expenses and expand your means for you to live the lifestyle you want.

If you would like more information about the concept of paying yourself first or need help to get started, speak to one of the financial planners at Intellichoice today on 1300 55 10 45.