Researcher reveals money-saving tricks that can put thousands back in your wallets
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As the cost of living steadily rises, families are feeling the pinch more than ever.
The pressure is mounting, and for many, the financial cushions that once provided a safety net have worn thin.
As a result, an increasing number of Australians started missing mortgage payments—a sign that the financial strain has reached critical levels.
However, there's a silver lining amidst these challenging times.
With a bit of savvy financial management and some simple moves, families could save a substantial amount, alleviating some cost-of-living pressures.
According to Compare Club's Head of Research, Kate Browne, Aussie households could save up to $7,700 annually by scrutinising larger household bills and making changes around them.
Ms Browne shared that refinancing a mortgage could save homeowners an average of $5,170 per year.
This adjustment could be done digitally or over the phone.
In addition, a 20-minute call to an energy provider could lead to savings of around $317.
Meanwhile, a similar conversation with one's current health insurer could net an additional $328 in savings.
Aussies could potentially take back a total of $1,800 in their pockets by switching car loans and credit cards.
According to Ms Browne, these financial manoeuvres are easy to execute, often requiring little to no paperwork.
Widow Marie Alessi was a testament to the benefits of reassessing financial commitments.
After her husband's passing six years ago, Ms Alessi faced the daunting task of managing household expenses herself.
She discovered she was paying for insurance features she would never use and felt taken advantage of during her most vulnerable time.
As she switched insurance providers, she saw significant savings.
Experts also suggested that for those who want to maximise savings, families should consider switching health insurers every three years.
They also advised changing energy providers more frequently for substantial savings.
This proactive approach to managing household expenses could lead to better deals, saving money in the process.
Managing finances could get overwhelming, especially when everyone's trying to stretch every dollar.
Take control of your financial health by exploring these simple yet effective strategies.
Have you found ways to cut costs and save money on your household bills? Share your experiences and tips with us in the comments section below!
The pressure is mounting, and for many, the financial cushions that once provided a safety net have worn thin.
As a result, an increasing number of Australians started missing mortgage payments—a sign that the financial strain has reached critical levels.
However, there's a silver lining amidst these challenging times.
With a bit of savvy financial management and some simple moves, families could save a substantial amount, alleviating some cost-of-living pressures.
According to Compare Club's Head of Research, Kate Browne, Aussie households could save up to $7,700 annually by scrutinising larger household bills and making changes around them.
Significant house bills could be slashed by hundreds of dollars thanks to Ms Browne's tips. Image Credit: Pexels/Willfried Wende
Ms Browne shared that refinancing a mortgage could save homeowners an average of $5,170 per year.
This adjustment could be done digitally or over the phone.
In addition, a 20-minute call to an energy provider could lead to savings of around $317.
Meanwhile, a similar conversation with one's current health insurer could net an additional $328 in savings.
However, the savings do not stop there.Aussies could potentially take back a total of $1,800 in their pockets by switching car loans and credit cards.
According to Ms Browne, these financial manoeuvres are easy to execute, often requiring little to no paperwork.
Widow Marie Alessi was a testament to the benefits of reassessing financial commitments.
After her husband's passing six years ago, Ms Alessi faced the daunting task of managing household expenses herself.
She discovered she was paying for insurance features she would never use and felt taken advantage of during her most vulnerable time.
As she switched insurance providers, she saw significant savings.
Experts also suggested that for those who want to maximise savings, families should consider switching health insurers every three years.
They also advised changing energy providers more frequently for substantial savings.
This proactive approach to managing household expenses could lead to better deals, saving money in the process.
Managing finances could get overwhelming, especially when everyone's trying to stretch every dollar.
Take control of your financial health by exploring these simple yet effective strategies.
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