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Sometimes asking yourself the right questions is all you need to do to improve things in your life, including your finances. And if you don’t know what to ask, you can’t get a result. Here are five simple questions that can save you thousands of dollars to help you save for a better future.

Is this the best deal I can get?

It sounds basic, but we don’t often ask the question. The first suspects are your health insurance, utilities and super fund. It’s important to find out what fees you are paying, and ask the question. Check if a contract is cheaper, or if you pay by direct debit can you get a discount, or if there are any other promotions or plans they have that can save on your utility bills. This can put major dollars back into your bank account, rather than theirs.

How much can I invest in myself?

For years I have worked on the adage to pay myself first. Usually we pay whatever we need to, and whatever we have left is what we live on. This is ineffective because we are putting ourselves last and to get ahead you need to put yourself first. Some people have a rule of 10% of their earnings they put away before anything else gets paid. The key is to ask yourself – what are you worth and how can you invest in yourself more? Then open an account like ING savings maximiser that’s hard to touch and get it deducted the day your pay goes in. In a few months you won’t even notice it’s gone and you have a tidy nest egg building up, and that feels good.

Do I really need this now?

I know, usually we believe we do, but it’s a great question to ask yourself when out and about shopping. Especially if you intend to put this item on your credit card. If you don’t have the cash to pay for it, and it’s not a must-have item, really question whether you need it. Because putting things on credit is just increasing the burden on you to keep working just to pay it back. Start thinking of how to make what you have last longer, or go further, and cut back on what you are spending on day to day.

Can I get this cheaper buying online or in bulk?

Too often we pay up for items because we do need them now – a bit of planning and research can often save you thousands. Google is the first port of call, and with online selling sites and cheap bulk discount places like Aldi or Costco, thinking ahead and shopping around can save you a lot. Even buying in bulk and storing it can really work to get down your day to day shopping bills.

What do I really want for my life?

Sounds like a big question, but if you don’t have a goal, then all the questions in the world won’t motivate you. By spending some time thinking about what you really want your life to be like, not just next week or month, but next year, in five years and 10 years, you can start making some strategic decisions about your life. If you want to travel more, can you lower your overheads and save more, so you can go away regularly? If you want to save for a house, how can you figure out ways to live cheaply now, or can you move to where it’s more affordable? Thinking long-term can save you thousands of dollars making poor short-term decisions that don’t serve you and the life you really want. This will be more fun than you think!

Vanessa Stoykov is a financial educator that believes anybody can start making their money work for them if they unlearn their habits around money.