Cutting your bills and the cost of living

When prices rise, small savings on regular bills can make a real difference. The good news is that many of the biggest savings come from a few phone calls or comparisons, not from going without.

Start with a bill audit

Before you cut anything, get a clear picture. Gather your latest bills for power, gas, phone, internet, insurance and subscriptions.

For each one, write down:

• who the provider is
• how much you pay each month or year
• when the contract or plan ends

Many people find they are paying for things they rarely use, or are still on an old plan that costs more than new ones.

Power and gas

Energy is often the bill with the most room to save.

• Compare plans for free. Use the Australian Energy Regulator’s Energy Made Easy site at https://www.energymadeeasy.gov.au. In Victoria, use the Victorian Government’s Victorian Energy Compare site. These government sites don’t earn commissions.
• Have your bill handy. Your usage details help the comparison give a more accurate result.
• Look past the discount. A big “percentage off” can still be dearer than a plan with lower base prices.
• Use less when it’s dearer. If your plan has peak and off-peak prices, running the dishwasher or washing machine off-peak can help.

Phone, internet and insurance

Phone and internet

• Check how much data you actually use each month. Many people pay for far more than they need.
• Look at prepaid or month-to-month plans if you are out of contract.
• Bundle carefully. A bundle is only cheaper if you’d use every part of it.

If you have a problem with a phone or internet provider that you can’t sort out, the Telecommunications Industry Ombudsman can help for free at https://www.tio.com.au

Insurance

Insurance premiums can jump at renewal time. Don’t just let it roll over.

• Compare your renewal notice with last year’s price. Your renewal notice should show both.
• Get a few quotes and compare what’s covered, not just the price.
• Consider whether a higher excess suits your budget. It usually lowers the premium, but you pay more if you claim.
• Don’t cancel cover you need just to save money. Being uninsured can cost far more later.

Groceries and everyday spending

• Plan meals for the week and shop with a list.
• Compare the unit price on shelf labels. It shows the cost per 100 grams, per litre or per item, so you can compare different pack sizes.
• Try home brand products for staples.
• Check your bank statement for subscriptions you no longer use and cancel them.

Concessions and government help

If you have a Pensioner Concession Card, Health Care Card or similar, you may be able to get discounts on power, water, council rates, car rego and public transport. Each state and territory has its own rules.

• Ask each provider if you are eligible for a concession or rebate.
• Check your state or territory government website for concessions.
• Check with Services Australia whether you may be eligible for a concession card at https://www.servicesaustralia.gov.au/concession-and-health-care-cards

If you can’t pay a bill

Contact the provider as early as you can. Energy, water and phone companies have hardship programs. They may offer a payment plan, more time to pay or a review of your plan.

Where to get free help

• National Debt Helpline – free financial counselling on 1800 007 007 or https://ndh.org.au
• Energy Made Easy – free energy plan comparison at https://www.energymadeeasy.gov.au
• Telecommunications Industry Ombudsman – free help with phone and internet complaints at https://www.tio.com.au
• Services Australia – concession cards and payments at https://www.servicesaustralia.gov.au