July 18, 2018
Here are some simple tips for cutting costs around the home, so your money can go towards what’s really important!
1.Electricity/Utilities
By being more conscious of your water and electricity consumption, you could save hundreds of dollars every year. Use comparison sites to make sure you're getting the best rates....then minimise your usage! Start with turning appliances off at the wall, turning lights off in rooms that are unoccupied, installing a water efficient shower head and using the eco friendly option on your washing machine and dish washer.
2.Groceries/Food
Your weekly grocery shop can add up pretty quickly. In order to save money by avoiding eating out and perhaps eat more healthily too, try the meal planning trend for a week.
You should also aim to take your own lunch to work with you, either make an extra serving of dinner at night or meal prep your lunches for the week to save some extra cash.
3.Eliminate Unnecessary Expenses
If you have a gym membership or a subscription that you rarely use, cancel it. Go through your expenses with a fine-toothed comb and find anything that you no longer need/use and cancel it to eliminate the added expense.
4.Health/Car/Home Insurance
If you’re paying high insurance premiums, shop around for a better deal. Approach your current provided first to try and negotiate a lower price for yourself, if they aren’t willing to play ball, it may be worth moving your insurance to another company who can provide you with the same level of coverage for less.
5.And finally, the big kahuna...Review Your Mortgage
Your home loan is undoubtedly one of the largest expenses you’ll have on a monthly basis. By reviewing your home loan regularly (perhaps every 1-2 years), you can ensure that you are still getting the best and most competitive rate to ensure that you’re not paying more money in interest than you need to be. At Mortgage Choice in Menai, we are here to help and save you money!
If you’d like to speak to us about reviewing your home loan, please call us today on 0431 415 311 or email us at phil.wheatley@mortgagechoice.com.au
