How to Save Money on Household Bills
Living expenses continue to rise, and for many people it can be hard to make ends meet, with bills piling up, especially as we head towards Christmas.
With this in mind, we have put together our top tips on how to save money on your household bills.
Create a budget
This can be daunting for many people – so break it down. List your income. Then list all your expenses.
A good way to do this is to go back through your bank statements for two months and write down every expense that goes out.
It can be scary to realise how much buying a coffee everyday can add up. Don’t forget to add in any annual costs like car registration.
Plan to save
Once you can see where your money is going, you can create a savings plan. First look at incidental daily costs (coffee, cakes, snacks, magazines). Then look at bigger costs, like how you can save on electricity by switching (and saving) on gas. Every cent adds up – and you want them back in your pocket.
Set your spending limit
Work out how much money you can safely afford to spend each week – and don’t go over it! It might help to set up an extra bank account just for this. Keep it separate to your other accounts.
Cut back on extras
It’s time to prioritise between what you want and what you need. That new pair of shoes might feel great for a week or two, but that extra money might be better off in your savings account. Make your lunches and stick to water instead of buying sugary drinks to help keep extra costs down – the bonus is it’s healthier!
Save money each week by cooking at home. Even better, make a meal plan for the week and stick to it. If you’re not a confident cook, we have a recipe library full of breakfasts, lunches, dinners and vegan meals to choose from – a great place to get started. Cooking with a gas stovetop will help cut down your electricity bill – we love that you save with gas.
Renegotiate Insurance Premiums
Been with the same insurance company forever? How competitive are their rates? Spending 40 minutes on the phone may not sound appealing in the short term, but it could result in saving you hundreds of dollars a year! Ring them up and have a conversation about how they can help you, you may be surprised.
Switch to a gas cooktop
Natural gas cooktops are cheaper than electricity and we all know food tastes better cooked over a flame (in our opinion!). Not only that, but when summer hits and the power goes out, gas won’t let you down. Plumb your BBQ into a natural gas outlet and you’ll be all set for a summer of entertaining (on a budget). Eating in is much cheaper than eating out, and we think, much more fun.
Subscribe to newsletters for instore specials
The humble weekly specials junk mail is almost a thing of the past. Instead, search the internet for sites that will give you discount codes for online grocery shopping. Weekly specials can save you a considerable amount over a month – especially if you buy in bulk.
Pay bills on time
Try to avoid accruing fees for late payments. Think about making a calendar reminder for due dates of bills a day or two before they are actually due. Or, even better, switch to a direct debit payment method. This way you know exactly how much you need to account for each month with no nasty surprises.
Choose a gas hot water system
To save money in the long term, consider switching to a gas hot water system; the benefits will last for years. A family of four can save on gas by as much as $500 a year, simply by switching to a gas hot water system. Not only that, but you save on electricity and you get plenty of hot water!
Reduce your mobile phone bill
If you keep running up extra data or call charges on your mobile phone, it may be time to renegotiate your plan. Crazy about streaming Netflix (we’ve all been there) but keep blowing out your data plan? Budgeting to pay a little more on your plan each month can actually save you money on extra charges over a year.
Need to know how to save on electricity?
The big one here is by switching to, you guessed it, gas. We have a handy savings calculator which can show you how much switching to natural gas will save you every year. It can be customised based on your household living arrangements and number of appliances within your home. Another simple way to save on electricity is to remember to turn appliances off at the socket between uses.
Stick to the plan
You know that old saying, “take care of the pennies and the pounds will take care of themselves”? It’s true. By taking care to avoid spending money on the small incidental stuff, the things you buy without thinking (an extra coffee, a bottle of water, an impulse buy from the sale section) you’ll soon see the savings start to add up.
Review your budget
Circumstances can change in an instant and this year is a stark reminder of that – no one could have predicted what has happened in 2020. So, try to revisit your budget every 6 months or so to make sure you are staying on track. Account for any increases or reductions in income, any extra or unforeseen expenses and anything else that crops up over the 6-month period.
Put all of this together and you should start to notice some positive changes which will let you start saving for the important stuff – like a holiday!
For more information regarding changing to natural gas, check out our list of natural gas suppliers.