Money Don't miss out on the headlines from Money. Followed categories will be added to My News. Cash-strapped Australians can boost their bank balances by thousands of dollars by making several simple New Year tweaks.
As the expense of Christmas rings true for many, personal finance experts say running the ruler over health, car, and mortgage insurance expenditure – and swapping to a better deal – can yield massive savings. Many of us are also unknowingly sitting on rebates, incentives and unclaimed cash and super – plus being direct debited for unused services. “Renting out your own stuff is a great way to make some quick cash, and keeping an eye on your subscriptions and double-checking whether you’re actually using them is also good practice,” personal finance expert Gianna Thomson said.
“Earning a passive income through investment is also one of my biggest recommendations for Aussies going into the New Year ...
selling things that you don’t need around the house also works.” Sophie Ryan, from comparison site iSelect, said energy was one of the biggest areas for people to save. “We do know that energy prices have risen significantly over the last couple of years, and many people may not realise that loyalty doesn’t always pay when it comes to energy,” she said.
“Plans that feature discounts generally expire after a year or two, so people who may have been on the same plan with the same provider could have been automatically transferred onto a high.
