Stretch your budget further this 2024 with these top money-saving tips!
- Replies 8
In the ever-changing landscape of personal finance, it's crucial to stay ahead of the curve.
As we move into 2024, savvy Australians are sharing their top money-saving tips to help you stretch your dollar further.
From fuel savings to grocery discounts, these tips could save you a small fortune!
In a social media post, one Australian bargain hunter revealed his nine money-saving strategies for the coming year.
One of his top tips is to make the most of loyalty programs like Woolworths' Everyday Rewards and 7-Eleven's Fuel Lock.
The 7-Eleven Fuel Lock tip is a game-changer for those looking to save on petrol. This feature on the My 7-Eleven app allows users to lock in the best fuel price for seven days.
While the price lock function can only be used once, the bargain hunter worked around it by changing his phone's IP location—something others can also do to access the best deal nationwide.
'I've done it twice a week for the last 12 months and the savings right now are awesome given Queensland petrol is in the 160s and Sydney northern suburbs in the 220s,' he said.
Woolworths Everyday Rewards is another program that can help you save big.
By purchasing 'cost-effective insurance' or an Everyday Rewards subscription, you can get 10 per cent off one shop a month.
Plus, you can earn 20 times the rewards points for gift card purchases and get discounts on bulk buys like paper towels, toilet paper, and washing powder.
Meal kit delivery services like Hello Fresh and Marley Spoon offer significant discounts (up to 50 per cent) within the first few weeks of subscribing.
By switching between these subscriptions, you can take advantage of all the discounts and compare which one is cheapest.
'My best suggestion would be to visit the websites, and if it doesn't openly appear there, wait for them to smash you with ads across platforms,' he said.
He also recommends using credit cards that earn Qantas or Virgin points.
By 'churning' through credit cards and opening new accounts, he gains frequent flyer or Velocity points by shopping online.
The points can then be redeemed for cheaper flight tickets or certain upgrades.
Negotiating contracts with service providers like health insurance and phone companies can also lead to substantial savings.
'Just yesterday I reduced my monthly phone/NBN bill by $40 a month and received six weeks free private health insurance on current policy (equates to 12 per cent discount),' he shared.
'I genuinely was looking to change (phone) provider recently and started with a discussion on what my exit costs would be, which leads them wanting to salvage (the) relationship.'
Solar and electric vehicle rebates are another way to earn extra cash. Each state has its own rebate system for those who install solar panels on their homes, he said,
Meanwhile, those who purchased an eligible electric vehicle before December 31, 2023 can also get as much as a $3,000 rebate, depending on their state.
For business owners, it's worth looking into Temporary Full Expensing on car purchases.
While this incentive ended on June 30, 2023, those who purchased a car before then for their business may be eligible.
Another money tip is to negotiate variable interest rates under 6 per cent.
If you're in a strong financial position, you can haggle your rate down as home loan lenders save their most competitive rates for 'ideal' borrowers.
Finally, always compare prices on 'big-ticket items' before purchasing them to ensure you're getting the best deal available.
Other Aussies have shared their tips that will save them hundreds in 2024.
These include switching from Woolies to ALDI for groceries, buying a bike instead of a car for free travel and exercise, and buying Woolworths gift vouchers at a 4 per cent discount if you're with RACQ.
They also advised shopping at markets when they are about to close as they place item on discounts of more than 60 per cent off.
For pet-related purchases, Petbarn and Petstock both price match. And for meat, consider finding a good local butcher. One user shared that their butcher was selling whole rumps for 9.99/kg.
For more tips on saving, read this article on how to save ‘thousands’ of dollars amid cost-of-living pressures!
Members, do you have other money-saving tips for 2024? Share them with us in the comments below!
As we move into 2024, savvy Australians are sharing their top money-saving tips to help you stretch your dollar further.
From fuel savings to grocery discounts, these tips could save you a small fortune!
In a social media post, one Australian bargain hunter revealed his nine money-saving strategies for the coming year.
A finance guru shared his top money-saving tips for 2024. Image source: Freepik.
One of his top tips is to make the most of loyalty programs like Woolworths' Everyday Rewards and 7-Eleven's Fuel Lock.
The 7-Eleven Fuel Lock tip is a game-changer for those looking to save on petrol. This feature on the My 7-Eleven app allows users to lock in the best fuel price for seven days.
While the price lock function can only be used once, the bargain hunter worked around it by changing his phone's IP location—something others can also do to access the best deal nationwide.
'I've done it twice a week for the last 12 months and the savings right now are awesome given Queensland petrol is in the 160s and Sydney northern suburbs in the 220s,' he said.
Woolworths Everyday Rewards is another program that can help you save big.
By purchasing 'cost-effective insurance' or an Everyday Rewards subscription, you can get 10 per cent off one shop a month.
Plus, you can earn 20 times the rewards points for gift card purchases and get discounts on bulk buys like paper towels, toilet paper, and washing powder.
Meal kit delivery services like Hello Fresh and Marley Spoon offer significant discounts (up to 50 per cent) within the first few weeks of subscribing.
By switching between these subscriptions, you can take advantage of all the discounts and compare which one is cheapest.
'My best suggestion would be to visit the websites, and if it doesn't openly appear there, wait for them to smash you with ads across platforms,' he said.
He also recommends using credit cards that earn Qantas or Virgin points.
By 'churning' through credit cards and opening new accounts, he gains frequent flyer or Velocity points by shopping online.
The points can then be redeemed for cheaper flight tickets or certain upgrades.
Negotiating contracts with service providers like health insurance and phone companies can also lead to substantial savings.
'Just yesterday I reduced my monthly phone/NBN bill by $40 a month and received six weeks free private health insurance on current policy (equates to 12 per cent discount),' he shared.
'I genuinely was looking to change (phone) provider recently and started with a discussion on what my exit costs would be, which leads them wanting to salvage (the) relationship.'
Solar and electric vehicle rebates are another way to earn extra cash. Each state has its own rebate system for those who install solar panels on their homes, he said,
Meanwhile, those who purchased an eligible electric vehicle before December 31, 2023 can also get as much as a $3,000 rebate, depending on their state.
For business owners, it's worth looking into Temporary Full Expensing on car purchases.
While this incentive ended on June 30, 2023, those who purchased a car before then for their business may be eligible.
Another money tip is to negotiate variable interest rates under 6 per cent.
If you're in a strong financial position, you can haggle your rate down as home loan lenders save their most competitive rates for 'ideal' borrowers.
Finally, always compare prices on 'big-ticket items' before purchasing them to ensure you're getting the best deal available.
Other Aussies have shared their tips that will save them hundreds in 2024.
These include switching from Woolies to ALDI for groceries, buying a bike instead of a car for free travel and exercise, and buying Woolworths gift vouchers at a 4 per cent discount if you're with RACQ.
They also advised shopping at markets when they are about to close as they place item on discounts of more than 60 per cent off.
For pet-related purchases, Petbarn and Petstock both price match. And for meat, consider finding a good local butcher. One user shared that their butcher was selling whole rumps for 9.99/kg.
For more tips on saving, read this article on how to save ‘thousands’ of dollars amid cost-of-living pressures!
.png){kind=icon}
