Effie's money hack to avoid weekend 'blowout'

With ongoing cost-of-living pressures and a ninth consecutive rate rise this week, Aussies are being forced to be diligent with how much they spend through the week.

Whether it be packing your own lunch instead of buying it, cutting back on daily coffees or reducing the amount of electrical items you have plugged in at home, people are doing all they can to make ends meet.

But when it comes to the weekend, that Friday, Fri-yay mentality kicks in and we find it harder to stay frugal on those days off.

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According to data by Beforepay, around 350,000 Aussies spend about $57 per day on groceries, food, petrol and shopping.

Putting your credit card in the freezer, in ice used to be a popular way to stop you from using it in the past, but Today money expert Effie Zahos said there's an easier way to "freeze your assets" that will take just 10 minutes.

"It differs between banks, but you can reduce your withdrawal limits," she said.

"So think about how much money you can take out per day, it's probably around $1000, on Friday morning go into your settings in your bank account app, reduce your limit instead of the max is $2000, bring it down to $100."

That way when you're out at a bar on the weekend and have had a couple of drinks you have that failsafe in place and can't spend anymore than you should.

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If eating out and spending big at restaurants is your Achilles heel, Effie said there are apps you can use to score a discount.

"There is an app called First Table, if you don't mind eating early, restaurants in your local area list tables they've got," she said.

"It could be breakfast, lunch or dinner, you pay a $10 booking fee and for two people it's 50 per cent off the food bill - not the alcohol."

Effie said there are also ways to get discounted entertainment options on the weekend that can help stop you from burning through your bank account on the weekend.

See what else Effie had to say in the video above

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.

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