5 Things Every Household Can Do to Slash Bills
From Power Bills to Groceries and your Home Loan, here are 5 things every household can do to slash their bills.
Household budgets around Australia are being squeezed because wage growth is low and the cost of living is high.
As Finance Editor Ross Greenwood recently reported on Today, “For most it’s an issue of rising essential prices, but very flat incomes.”
So 9Saver has put together this list of 5 things every household can do to beat the squeeze and save hundreds, or even thousands of dollars.
1. Save up to $1500 on your Energy Bills by shopping around
It’s possible for some households to save up to $1500 just by switching their Electricity & Gas from the worst offers to the best, according to the Australian Energy Regulator.
If you’re in NSW, SEQLD, VIC or SA, you can switch to a cheaper offer in about 5 minutes online, and it’s never been easier to find one.
There are two types of comparison sites you can use: Government sites that display all offers on the market, or commercial sites that display most offers and link through to providers.
2. See if you can save up to $5000 p.a. by re-financing your Mortgage
According to Mozo, 87% of variable interest rates have already risen in the past year.
So it might be a good time to review the competitiveness of your Home Loan.
The internet has given borrowers more power than ever before to find a cheaper rate.
9Saver Tip: Compare RateCity’s cheapest home loans here*
Or just follow our Guide on “How to find a cheap Home Loan“
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RateCity Re-Finance Home Loans
3. See if you’re on the cheapest mobile plan and save up to $600 p.a.
The mobile market changes fast. A good-value plan a year ago could now be giving you the same amount of data and calls as you can get for half the price elsewhere.
There are several fantastic online tools to help us sift through the mountain of options out there.
Switching providers is easy as 1, 2, 3 if you’re not on a contract and you can take your number with you.
9Saver Tip: Compare the best cheap mobile plans at whistleout.com.au*
Or read the 9Saver “Mobile Savings Guide“.
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4. Stop paying too much for Petrol (potential saving: over $1000 p.a.)
The ACCC has found Aussie motorists could be saving millions by using realtime fuel price comparison apps and websites to avoid regular price hikes.
These apps help you find the cheapest petrol prices near you, and tell you which days are good or bad days to fill up.
Read about the latest apps and their PROs and CONs here in our Petrol Savings Guide
5. Shop smart and save over $1000 p.a. on your Grocery Bill
For the average household, Groceries are the second-biggest bill after the mortgage or rent and average $240 a week.
This means you can save hundreds of dollars over the year by employing a few strategies such as planning your shop, shopping at night, being disloyal to supermarkets, and using ‘unit pricing’.
For more detail on how to minimise your Groceries bill, read the 9Saver Guide on “13 smart ways to cut the cost of Grocery shopping“.