3 Simple Steps To Save Hundreds On Your Bills

Feeling the pinch on your bills? Does it seem like you’re spending more than ever on this basic cost of living necessity? You’re not imagining it! Utility bills have been gone up faster than wages have grown, and faster than inflation. While Aussie Government policy intervention is helping some aspects of rising bill costs under control, there are also competitive pressures on the market. By following these easy tips, you can potentially save hundreds of dollars on bills every year – with less than an hour’s work!

1. Solar Panels.
Are solar panels worth it? A resounding yes! Research indicates that over 90% of households with solar power believe that getting solar panels was a good investment. For an initial upfront cost, you can save hundreds of dollars per year just by getting solar.

The first question that people tend to ask is how long it’d take for that upfront cost to pay itself back. This depends on where you live, because of a few factors. Firstly, how sunny it is, and then how much it costs on average to get solar panels installed in your area. Lastly, how expensive grid power is on average where you live. However, in most Aussie capital cities, it will take less than 5 years to pay back your system. After that, you’re harnessing the power of the sun for free (and reducing your carbon footprint in the process).

2. Compare electricity plans.
Have you heard about what the Barefoot Investor refers to as the “Lazy Tax”? There’s often an enormous gap between the cheapest and most expensive electricity plans on the market; hundreds of dollars of difference. It pays to compare electricity plans to find the cheapest electricity deal available to you. Avoid the “loyalty penalty” of staying with the same provider for a while, and shop around to see what’s out there!

3. Banking.
Don’t pay more in fees than you have to! With interest rates at an all-time low, there’s plenty of wiggle room for banks and credit card companies that want to keep you as a customer. A lot has changed in the banking sector over the last few years, so it pays to compare!

Want to know more? Keep an eye on our blog for more top money-saving tips!

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