Crowdfunding your personal finances

Two’s company but three or more could be good for your finances – at least as far as group buying goes. From better deals on airfares to discounted workouts, spending time with your friends has never been so financially rewarding.

Here are five ways where it could pay to round up a few friends to join you in your activities:

Going on holiday

It’s no secret that going solo costs you more in hotel costs than if you go as part of a couple, but if you’re organising a large group trip then you could be on your way to getting a discount or at least some added bonuses. 

Some airlines, including Virgin AustraliaJetstar and Qantas offer a different pricing structure for groups, as well as additional flexibility – potentially saving you money in change fees later on.

Getting fit

One-on-one personal training can be a bit of a luxury, with a session edging upwards of $50 an hour. But if you don’t mind sharing your time with friends, then you could enjoy the benefits of a personal trainer for up to a quarter of the cost.

Many personal trainers offer reduced rates for friends which makes the session not only a social event but a good money saver too.

Eating out

Ever think the food selection on share platters is more appealing than sticking to just one individual dish? They might be too large and expensive for just one person, but they often offer great value when shared between friends – which means they also get the thumbs up from your bank account.

Many restaurants offer share platters or tapas style dishes, but alternatively you could get a bunch of starters to share and split the bill.

Entertainment

Family tickets have been around for a while, but many organisations are starting to introduce discounts for larger groups.

For example, Sydney Aquarium offers a 20%-30% discount on groups of 10 or more, depending on the time and date of the visit; and Ticketek and Ticketmaster both offer a variety of discounts for groups on certain events.

Car sharing 

If you find yourself paying registration and insurance on a car you rarely use then signing up for car sharing could provide value for money.

Schemes such as GoGet offer cost-effective car hire for irregular drivers, with pricing dependent on how often, and how long, you use it for.

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