Some Relief from Cost of Living Pressures
Everyday living costs are soaring, from petrol and lettuce to the interest rate on your mortgage, and it may get worse before it gets better. What can you control to get some relief from financial pressures?
It’s time to revisit your budget – or make with thisfree online budget tool– because your old calculations may no longer apply. If you’re tracking your spending more closely, you can identify areas where you can cut costs and save.
Need help budgeting? Learn about our money management and coaching services, find budget resources in our archives, including budgeting tips for students and resources that will improve your overall financial know-how.
Slash your energy costs
Many households and small businesses are concerned about spiralling energy costs, and we’ve been forewarned that energy costs will increase in the second half of 2022. It’s worth a call to your retailer to see if they can offer a better rate or look for a better deal at the Australian Government comparison site Energy Made Easy.
Here are some tips for how to save energy at home, including:
- Reduce draughts and use curtains to use less heating in winter. If you do turn central heating on have it at 18 degrees.
- Switch to LED lights.
- Switching off appliances at the wall is an often overlooked way to save energy.
Rebates and assistance
You can find out whether you’re eligible for government rebates or assistance (search by your state and area of interest – e.g. solar). For example, in NSW, there are incentives to encourage NSW businesses to reduce energy, savings on solar battery installation and energy bill relief for vulnerable households available for those who meet the criteria.
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Save at the bowser
Looking for the cheapest petrol price today? Download the Fuelcheck app in NSW or try Fuelmap Australia to compare petrol costs near you now. Or, fill up regularly at the same pump but choose a store that offers member discounts.
Get some extra cash back
Check those Coles or Woolworths’ shopper receipts for offers or try a cashback app such as ShopBack to get a portion of your money back when you buy from an online retailer via its link.
Small changes add up
Even small behaviour changes can help when you’re tightening your budget, such as designating just one night a week for family takeout or making a point to check the weekly half-off sales to stock up on the things you know you buy.
Need help with your financial management? Callus anytime on (02) 8268 2900 for an obligation-free chat.
Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Please consider whether the information is appropriate to your circumstance before acting on it and, where appropriate, seek professional advice.