Low wage growth plus rising living costs is nobody’s favourite combo. We show you easy ways to make your money work harder and save a bundle on some of your biggest bills.
Watts up? Time to trim power bills
Ouch! Power costs could rise by up to 3% this year. But there’s plenty you can do to insulate against high voltage electricity bills.
First, check to see if you could save by giving your current energy provider the flick. It’s possible to save as much as $1,400 annually by switching from one of the more expensive electricity deals to one of the cheapest.
Next, embrace a few smart home habits to use less power every day. Here are just three simple steps that could knock up to $400 off your yearly power bill:
• Ditch the second fridge – save up to $172 annually
• Not gaming? Turn off the console when it’s not in use – cut up to $193 from yearly power bills
• Skip the dryer just one day a week and use the clothesline – possible annual saving: $79.
Don’t get hung up. Save on phone costs
Aussies spend an average of $77 each month on phone plans, but switching to a post-paid SIM-only plan can halve that cost. Or, hold onto your old phone and go prepaid, it can bring your monthly spending down to about $27, a potential saving of $600 annually.
Have the right plan for your usage. Overstepping your data limit can be a real budget buster – and approximately two out of five phone users do it regularly. Look at your phone bill to compare how much data you use versus your monthly allowance, switch to a more generous plan if necessary.
Check if you’re getting a good deal – 62% of phone users have been with the same telco for at least four years. Around 22% haven’t changed their telco in over a decade. The thing is, there’s a lot more choice these days, and with many providers to choose from, plans are becoming more and more competitive.
Love food, hate waste – cut your grocery bill
Give yourself a hearty serve of savings on groceries. Aussie households each toss out around $2,200 in food each year – it’s the equivalent of binning one in every five bags of food we buy.
Save money by playing it smart at the supermarket. Only buy what you’ll use, stick to seasonal produce (it’s sometimes cheaper), and shop with a list to avoid doubling up or forgetting something.
Skip the 9-5 takeaway. Spend less on work lunches
You could be forking out $129 each month just for takeaway lunch at work. Easy solution – BYO lunch from home, and spend less of your lunch hour queuing for food.
Beat the bowser blues. Reduce fuel costs
Cut your car’s fuel costs by 25-30% with two easy steps. Avoid putting your pedal to the metal when the lights turn green – a gentle acceleration uses much less fuel. And when you’re cruising the highway, aim for a consistent speed. Frequent braking followed by rapid acceleration transforms your car from a mild-mannered sipper to gas-guzzling slurper.
Ready for a home loan? Talk to your Aussie Broker today.
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