Steve Nottle,
Head of Property Management at Image Property.
Cost-of-Living Crunch: 6 Essential Tips for Saving Money
We’re all grateful to be living in glorious Southeast Queensland, but like our interstate neighbours, many of us are experiencing financial strain with the current cost-of-living crisis. Substantial increases across food, transport, utilities, insurance and interest rates means no one is exempt from the pinch. We’ve put together a list of practical tips that could help ease the strain.
1: Review Your Budget
Reassess your budget by identifying essential expenses like rent, mortgage repayments, utilities, and groceries. Once you’ve established your non-negotiables, look for areas where you can cut back without compromising your well-being.
Check out moneysmart to find out how to save money every day and make a savings plan to stay on track.
2: Get The Best Deal
Check you are getting the best deal on the essentials. You can use Resiconnect to upload your most recent utility bill and discover potential savings just by switching providers.
Additionally, check that you aren’t paying too much on credit cards and loans, if there is a better detail to be had, make sure you are getting it with Inovayt.
3: Energy Efficiency Matters
Being energy-conscious not only benefits the environment but also helps lower your utility bills. Simple habits like turning off lights, unplugging devices, and using energy-efficient appliances can make a significant difference over time.
4: Explore Public Transport
If feasible, consider using public transport instead of relying solely on your car. With Brisbane sitting at the top of National petrol prices lists, exploring public transport might be a good idea.
According to Nine, the average price for regular unleaded across the nation’s capital cities are as follows:
Brisbane: 209.9c/L and falling
Adelaide: 199.1c/L and rising
Canberra: 186.4c/L and slowly rising
Darwin: 182.8c/L and stable
Hobart: 182.8c/L and slowing rising
Sydney: 178.2c/L and rising
Melbourne: 177.5c/L and rising
Perth: 172c/L and falling
Southeast Queensland has a well-connected public transport system that might be more cost-effective than driving to work every day, helping you save on fuel and parking costs.
5: Embrace Second-Hand Shopping
Explore thrift stores, second-hand shops, or online platforms for needed items. From furniture to clothing, you can find quality items at a fraction of the cost, all while making an eco-friendly choice. West End boasts a variety of thrift shops, check them out here.
6: Connect with Your Community
In tough times, community support is invaluable. Connect with your neighbours, local community groups, or online forums. Sharing tips and resources can provide a sense of solidarity and additional ways to navigate the cost-of-living crisis.
Remember, these challenging times are temporary. We hope these tips can help you navigate the current cost-of-living crisis, and we remain committed to supporting you through these uncertain times.
Enjoying our valuable tips? Explore more of our articles right here.
