4 Top Tips on How to Save Money on Your Household Bills

Are your household bills getting you down? Feel like you’re spending more than you have to? You’re not alone! Utility costs have been rising faster than wage growth and inflation in Australia for many years. Many Aussies are feeling the pinch! Fortunately, there are a few things you can do to make your household bills more manageable – read on.

1. Try Negotiating some household bills
   

From your mortgage to your credit card and phone plan, there’s often a bit of wiggle room on some household bills. After all, it’s cheaper to keep an existing customer than attract a new one. So use that marketing tip to your advantage, because companies want to keep you as a customer! The worst they can say is no; the best they can do is offer you discounts. And over time, those discounts can really add up.

2. Compare electricity and gas prices

Australia’s electricity market is gradually getting less of a mess, with pressure from competitors and Governments alike to reduce prices. For a savvy bargain-hunter, this is great news! Check out energy comparison tool Econnex’s guide to cheapest electricity and gas. They highlight some things you need to know to understand plans and make sure you’re getting the best deal.

When you are in Texas, it is already well known that the electricity rates on this state is high because it is more challenging for utilities and energy providers to provide Texas with the necessary electricity.

That is why you need to select the best and cheapest electricity provider to save you on some of your bills. But on January 1, 2002, Texas Senate Bill 7 deregulated the state’s power market. 85% of Texans now have access to competitive electricity sources as a result of this.

You can see on the Texas electricity deregulation map on which area that gives consumers the freedom to select the energy source that best meets their needs based on tariffs, plans, and product options.

3. Get solar panels to reduce household bills
   

We all know that solar panels are awesome for the environment; what’s less known is that they’re also awesome for your pocket. Choice Magazine has a great guide to solar panel payback times in major Australian cities. Figures depend on how much you export back to the grid and where you are; roughly ranging from 2-3 years in Adelaide to 7 years in Darwin.

After that, you’re looking at a virtually pure profit: free electricity, harnessed sustainably from the sun. So, is it worth it? A typical 6.6kW system can deliver savings of between $300 – $500 per quarterly bill, and research indicates that around 94% of Aussies with solar panels reckon it was a good financial decision.

4. Get a water tank

Another upfront investment that really pays off! Depending on the material you use, water tanks can last for decades to come. By harnessing free rainwater, you can significantly reduce your reliance on the mains water supply.

National Geographic finds Australia is on the brink of a freshwater crisis, so water rates are likely to go up; in the meanwhile, your water tank can save you money while contributing to Australia’s water future. It’s no surprise that around half of homes in Brisbane and Adelaide have water tanks!

We hope this article has helped you to navigate your household bills and make them more manageable. From negotiating a better deal to finding ways to harness the bounty of nature, there are tweaks that you can do to keep a bit of extra cash for what matters to you!