The school holidays is a great time to review your bills and make changes, so you can save money!
With the school holidays upon us once again, and many parents working from home to care for their kids, this is a great time to make savings. But how can you make savings in this cost of living crisis? We have gathered our 5 best tips for saving money in this current economic climate that will truly make a difference to your budget.
1. Compare your Bills
Did you know that comparing your bills is one of the most powerful ways to save money? That’s right! With NZ Compare, we are all about helping people make better financial decisions and save money. Our user-friendly platforms make it quick and easy to compare your utility bills. Compare broadband, power, mobile, and insurances and finances. There are so many benefits to comparing, including saving money, and avoiding loyalty tax. Compare within minutes today and save hundreds over the course of a year!
2. Invest in Energy Efficient Appliances
Energy efficient appliances are a great way to reduce your energy consumption, and thus, lower your power bill. If you have an old fridge or washing machine, it might be a good idea to invest in a new one. Be sure you choose one that has a high energy star rating. This means that the unit you invest in will use the least amount of energy possible to perform the same task. So your fridge will still keep your food cold, and your washing machine will still clean your clothes and won’t use heaps of power.
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3. Create a Budget
In this high cost of living environment, having a budget is truly crucial to managing your money. Have a look at where your expenses go, and keep track of this in a spreadsheet or diary. Track your spending and see where you can make changes. Be sure to put money into a savings account that has a high interest rate so that your money can work for you.
4. Reduce your Water Use
Water bills can add up and be a pesky pinch to your budget. Make small habits around your home to rescue your water use. Shorten your showers, and pause the shower when you are soaping or shampooing. Use water efficient washing machines and dishwashers. Only run cycles when the machines are full.
5. Cancel Subscriptions
It’s always a good idea to run a regular check of how many services you are subscribed to. How many of them do you regularly use? Unsubscribe to any that you don’t use often, or consider switching to a cheaper streaming service.
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