Can you save money with your banking?

20. Always ask for fees to be waived or a discount. Any time you sign up for a service of any kind and there are sign-up fees, ask for them to be waived. As mentioned before many times if you ask for a discount the shop assistant will say yes…all small discounts add up.

21. Debt Consolidation – if all else fails and you have overspent during the Christmas and New Year shopping period, consider refinancing credit card debt to a personal loan and contact Jan at Start Fresh Finance. Check what interest rates your credit cards and loans are.

22. Change your attitude to your mortgage
The most expensive item you are ever likely to buy is your home. If you’re not in the privileged position to pay cash, like most of us, make sure the loan you use to finance it is the best available. For example, if you are paying your lender’s full standard variable rate, you are probably paying hundreds of dollars a year more than you need to.

There are a large number of deals to choose from, so it is best to talk to a Broker who will do the research for you. Remember that loyalty to your bank benefits your bank, not you!

Even better, if you can afford to make additional repayments on your mortgage, you’ll clear your debt several years early and make massive savings.

23. Clear your credit card debt
One of the golden rules of financial planning is to clear your most expensive debts first, in other words your credit cards.

OK, credit cards can offer a convenient way to pay for goods and services but if you can’t clear the balance every month, consider a low-cost loan as an alternative.

24. Avoid ATM Fees. Be aware of the ATM withdrawal fees charged by your bank. While some banks waive fees for all ATM transactions on any ATM machine, most don’t. So be sure to use only those ATM machines where your bank will not charge the fees, or withdraw directly at your bank.

25. Save on your electricity bill by knowing what time is on and off peak. Using power at off peak is so much cheaper.

26. Review your bank statements every three months and see where you can save in the future and always check all transactions to make sure there are no additional debits.

27. Draw up a budget

Can you achieve your goal without any additional savings? Or do you need to change your spending habits.

If you are travelling as a family or couple, include everyone in the budget setting.

Look at your current spending habits – where can you save – is it that third coffee each day? – you will be surprised that  a small saving of say $3 a day can make a difference…could be $15-20 per week.

28. Pay all your bills when you get them; don’t wait until they fall short of the due date. Sometimes paying early you receive a discount.

29. Start a Piggy Bank. If you drop your spare change in there you’ll be surprised at how quickly it all adds up. It’s a pretty simple, old-fashioned way to save and very effective (especially if you have a ‘gold coins only’ rule!!)

How to save on your Utility bills

30. Cut the cost of your fuel bills
As the global demand for power threatens to outstrip supply, prices are rising. But that doesn’t mean you need to be ripped off. Our utility market is a competitive one and you can change supplier with a few clicks of the mouse or by reviewing one of the many online comparisons.

31. Consider installing a water tank
We often take our tap water for granted. And why not?  But if it doesn’t rain, and we are continually experiencing extended hot spells and drought periods, we should be looking for the best deal and ways to conserve water.

Why not consider installing a water tank or water saving devices for your shower or even a timer on your taps for watering the garden.

32. Cut your home phone bills
There are a large number of phone companies you can choose from and this can be very confusing, so again there are a number of businesses that specialise in finding the right solution for you.

These days many people are re-considering whether they need a landline and mobile. Why pay for two phone numbers when you can only talk on one at a time.

Good idea to regularly review bundles available that also include pay TV, mobile and internet. 

33. Save overseas calls by signing up on Skype. It’s free to sign up and calls are free plus you get the added bonus of seeing and hearing your loved ones.

34. Consider a pay-as-you go mobile
If you do need a home phone and mobile why not consider as pay-as-you-go plan for your mobile. Review past mobile bills – do you receive value for money, do you really need all those minutes and texts that come as part of your package.

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