Are you trying your hardest to save money in 2023? We’re here to help! We’ve put together 10 top savings tips to tackle all areas of your household expenses, including energy, insurance, entertainment, children, food, and more. Let’s dive in and discover how you can save money this year!
On this page
- Energy Efficiency Upgrades
- Switch to Solar Power
- Review and Adjust Insurance Policies
- Find the right Pay TV subscription
- Budget-Friendly Entertainment
- Smart Shopping for Children
- Meal Planning and Bulk Buying
- Energy-Efficient Cooking
- DIY Home Maintenance
- Evaluate Subscriptions and Memberships
1. Energy Efficiency Upgrades
Investing in energy-efficient upgrades can result in significant savings on your energy bills. Making some easy changes, such as installing LED light bulbs, programmable thermostats, and energy-efficient appliances can lead to some serious savings over time. Additionally, properly insulating your home and sealing air leaks can help reduce energy waste and save you money.
Talk to a CheapBills energy expert to compare energy providers to find the best rates and options for your home from our panel of retailers and for more tips and tricks to reduce how much energy you use each day.
2. Switch to Solar Power
Switching to solar power is a smart long-term investment. By harnessing the power of the sun, you can generate your own electricity, reduce your reliance on the grid, and even potentially earn money by selling excess energy back to your energy provider.
Installing solar panels not only helps you save money but also contributes to a greener and more sustainable future.
Compare energy providers to find the best solar feed-in tariff for your home to help maximise your savings. Start your solar journey today and make a positive impact on both your energy bills and the environment!
3. Review and Adjust Insurance Policies
It’s essential to regularly review your insurance policies, including home insurance, car insurance, and health insurance, to make sure you’re getting the best value for your money.
Health insurance is set to go up by 2.7% in 2023, with some providers handing down bigger price hikes than others. Take the time to compare health insurance providers and explore different coverage options to find the most cost-effective plan that meets your needs.
By shopping around and considering bundling policies, you can potentially save money and secure discounts, leading to hundreds of dollars in savings each year. Talk to a CheapBills expert to compare health insurance from our panel of providers and discover ways to save money on your coverage. Don’t miss out on potential savings—review and adjust your insurance policies today!
4. Find the right Pay TV subscription
With the emergence of streaming services, there are more ways to stay entertained without breaking the bank than ever before.
Consider the wide range of streaming platforms that offer your favourite shows and movies to enjoy content on demand. If you compare a Pay TV subscription, like Foxtel, compare pay TV plans with CheapBills to find the right bundle for your preferences. You can even include streaming services and an NBN plan in your bundle to save more.
5. Budget-Friendly Entertainment
When it comes to entertainment, turn to your local community for plenty of free or low-cost options.
Why not take advantage of the natural beauty around you by visiting local parks and enjoying outdoor activities or attending community events and festivals that offer entertainment at little to no cost? Joining a library not only gives you access to a wide range of books but also movies and educational resources at no expense.
Instead of going out, consider hosting movie nights or game nights at home, creating memorable experiences with your nearest and dearest while saving money at the same time.
6. Smart Shopping for Children
It’s fair to say that the littlest members of our household are often the most expensive. When it comes to children, expenses can quickly add up. To save money, consider smart shopping strategies that can help you cut costs without your little ones missing out.
Opt for buying secondhand clothes and toys, which can be found in good condition at a fraction of the original price – this is great for your budget and the environment.
Try hosting a neighbourhood toy swap, where children can exchange toys they no longer play with, creating a fun and sustainable way to refresh their playtime options. Additionally, take advantage of the free or low-cost activities for kids from your local councils, such as community programs, libraries or outdoor adventures, which provide entertainment without breaking the bank.
7. Meal Planning and Bulk Buying
Meal planning may have started as a fitness trend, but it is a smart strategy to save money on groceries while reducing food waste and the temptation of last-minute takeout meals.
By creating a weekly meal plan and making a shopping list, you can efficiently shop for what you need and avoid unnecessary purchases. When possible, take advantage of bulk buying options and special offers to save money on frequently used items.
Additionally, consider joining a local food co-op, where members can compare and save on bulk purchases together, further reducing costs. With meal planning and bulk buying, you can enjoy delicious meals while keeping your grocery budget in check.
8. Energy-Efficient Cooking
To save money on your energy bills, it’s important to adopt energy-efficient cooking methods in your kitchen. Some simple habits to optimise your cooking practices, such as using lids on pots and pans, will help retain heat and reduce cooking time.
Make sure to match the size of the pot or pan to the burner size, as using smaller cookware on larger burners wastes energy. Consider using appliances like slow cookers or pressure cookers, which use less energy compared to traditional ovens, while still delivering delicious meals.
By implementing these energy-saving cooking techniques, you can enjoy tasty dishes while keeping your energy costs down.
9. DIY Home Maintenance
You can save some big bucks by taking a do-it-yourself (DIY) approach to home maintenance. Learning basic tasks such as changing air filters, caulking windows, and fixing minor damage can go a long way in keeping your home in good condition while avoiding costly repair bills.
By handling these tasks yourself, you can compare and save on professional trade fees and learn a new skill at the same time. There are many resources, such as online tutorials and DIY guides, available to help you learn the necessary skills and knowledge. Remember, some tasks, such as electrics and plumbing must always be done by a qualified professional.
10. Evaluate Subscriptions and Memberships
There’s a chance you are paying for monthly subscriptions for things you don’t even use, and definitely, some that you don’t need. Take a moment to carefully evaluate your monthly subscriptions and memberships to save money and align your expenses with your priorities.
Assess each subscription and think about its value in your life. Consider cancelling those that are no longer needed or used frequently. This includes things like Pay TV subscriptions, streaming services, gym memberships and magazine subscriptions.
By trimming down unnecessary subscriptions and memberships, you can free up extra money each month, which can then be put towards more important things. Stay mindful of your spending and make conscious choices to optimise your financial well-being.
By implementing these ten top savings tips, you can make a significant impact on your household expenses in 2023. It’s important to think about your unique circumstances to work out the best way to save money in your house. Remember, every small step towards saving money adds up over time.