Get your finances in order with these simple money savings tips!

July 17, 2014
Allan Ali

Are you concerned about the rising cost of living, and more specifically your rising utility bills?

If the answer is yes, don’t worry, you are not alone.

According to Mortgage Choice’s inaugural Money Survey, 54.8 per cent of Australians said rising utility bills were their biggest concern.

When put in perspective however, this figure is largely unsurprising as more than 90 per cent of Australians have admitted to seeing their utility bills “spike” over the last 12 months.

Thankfully, there are a few easy tips that you can implement to reduce the cost of your utility bills and feed money back into your hip pocket, including:

  1. 1.       Turn your appliances off: turning all your appliances off at the wall when you are not using them can help you save a lot of money in standby power costs. In fact, according to the Queensland government, the average household pays around $100 in standby power costs a year.

 

  1. 2.       Go green: replace your old light bulbs and fittings with newer, energy saving options such as LEDs.

 

  1. 3.       Draught proof your home:  it pays to protect your home from draughts. Sealing gaps around doors and windows can help you to stop the warm air from escaping in the winter. A ‘door snake’, rolled up towels or newspaper can be used fix the draught problem in your home.

 

  1. 4.       Embrace cold water: Washing your clothes in cold water can save you more than you think. Nearly all of the energy used by the washing machine goes into heating the water. So, if you want to save money and energy, consider washing your clothes in cold water.

 

  1. 5.       Hang it all: Hanging your freshly washed laundry out on the clothes line rather than using a dryer. Did you know that using a clothesline rather than a dryer once a week can save you $69 a year.

 

If you would like any more money savings tips or would like help reviewing your finances, give the team from Mortgage Choice in Dandenong a call today on 0418 222 137 or 0418 222 187. 

Posted in: Tips

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