A Single Modification Could Save Australians An Astounding $1,261 Every Year

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With the skyrocketing cost of living taking its toll on Australians. Many are seeking ways to reduce expenses and enhance their financial stability. 

Whether you’re trying to pay off debt, save up for a big purchase, or establish an emergency fund, easy methods can help you amass thousands of dollars. From creating a budget plan and cancelling unused subscription services, take control of your savings today with these simple hacks.

Establishing and adhering to a budget is one of the most straightforward paths to better financial health. It’s not merely about reducing costs; it provides an extensive overview of your income versus expenditure. Understanding where all your money goes makes it easier to take charge of spending habits.

MoneySmart – a free website created by the Government – offers an excellent budget-planning tool that allows users to input their information for a comprehensive insight into their finances.

As the subscriptions pile up – Netflix, Binge, Spotify, and your beloved smartphone games, you must take stock of them. Take a look at which ones are hardly used if any, as small monthly fees can become expensive over time when not accounted for.

Create an inventory of all your subscriptions now, so you don’t have to worry about them adding up later on.

New research from ING reveals that Aussies can save up to a whopping average of $1,261 annually simply by cancelling subscriptions and other redundant expenses they have forgotten about.

With the increasing cost of living and inflation, Australians have seen their electricity bills climb 56 percent in only two years. Smart Energy has discovered that those spending $1,000 a month on traditional energy can save an immense $69,051 over 15 years by switching to solar power – now more popular than ever.

Switching to solar is one of the easiest ways to avoid costly power bills. Luckily in Australia, we get sunshine all year around so that you can take advantage of your solar system no matter the season,” Smart Energy’s Liam Navon said.

Buying second-hand is a great way to save money, no matter what you’re in the market for. Shopping pre-owned will always be cheaper than buying new items, and those savings can add up when factoring in that Australians spend over one trillion dollars on non-essential goods annually.

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