The first thing we have done, is look over our bills and see where we could be saving money.
With the privatisation of utility companies, comes the opportunity to save as companies try and out do each other to gain your business. I highly suggest you have a look at rate you are currently paying and compare it to other companies prices (all of the companies have websites) or try using one of the sites that compare rates for you like www.switchwise.com.au or www.goswitch.com.au. You can save money on gas and electricity by being more aware of how you are using it. Most companies offer a service, where they come out and advise you how you could be saving. There is also information available through the companies on how to save power. Some of the most common ways are hanging clothes out, instead of using the dryer; turning off appliances at the wall when now in use, turn lights off when not using a room, set your heating and cooling at 24 deg., use your dishwasher and washing machine at night, when it is off peak times etc.
We have bundled our home phone, internet and mobile phones and have saved over $100 a month through our service provider (Telstra). Most of the telco’s do this now, so it pays to have a look around for a good deal.
Insurance is another thing you can save money on if you are prepared to ring (or look online) at a few different insurance companies. Nearly all of the companies give discounts if you have multiple policies with them plus it is easier to keep track of things if you are with one company. You could also try a broker to get you the best deal on insurance.
If you are water smart, you can save on your water bills. More information can be found through your water provider.
Petrol is a huge expense for most families and obviously the easiest way to save fuel is to not use the car. Walk the kids to school or ride bikes instead. As well as saving fuel, you are getting exercise, teaching kids road safety and being environmentally friendly. The cheapest day to get petrol is on Tuesdays, I usually get petrol then.
Refinance credit cards. There are a lot of really good offers on credit cards at the moment. Low or zero interest for 6 months, if you transfer your current balance to a different credit provider, seems to be the most common offer at the moment. You could also get a personal loan (or refinance your existing home or personal loan) and pay out your credit cards and then pay a considerably lower interest rate than the credit cards. Most credit cards interest rates are around 20%, with a personal load your looking at around 8- 12%, so that is a huge saving each month.
Well, they are what we have looked at this week…. next is the grocery bill!! I hope my ideas for saving have helped you somewhat… what are your tips for saving on bills?