Savvy saving: simple ways retirees can trim everyday expenses
The increased cost of living has been front of mind for most Australians this year, with price rises across essential goods and services including groceries, fuel and utilities. Here are some clever tips on how to save money on your everyday expenses, without sacrificing the things that make your retirement enjoyable.
Cancel unused subscriptions
The new age of streaming services offer unbeatable entertainment, but if you have multiple subscriptions (think news/music/TV streaming etc), you might be surprised by how much these add up over a month. Do an audit of your bank statement to check how many subscriptions you have, and then assess whether you need them all to be active concurrently.
For example, if you’re currently watching a series on one streaming media service, cancel your other media subscriptions for that month until you’ve exhausted your watch list. Then you can take up a different platform in the following month.
Most providers make it relatively easy to manage and change your subscription via your online account settings. Some home internet providers also include entertainment streaming subscriptions as part of their monthly plans, which could be another way to save doubling up on bills.
Reorganise your kitchen
We know that meal planning and list writing is a good strategy to keep grocery spending in check, but if your food budget is still blowing out, reorganising your fridge and pantry might be the missing piece of the puzzle.
The reasoning is simple - you can’t use what you can’t find. Aim to set up an ‘eat first’ section of your fridge, where you can keep items that you’ve already opened or are nearing expiry.
In your pantry, try to clearly display items in category groupings (pastas together, oils together etc) so you’re not doubling up on ingredients when you do a grocery shop. This is a surprisingly effective way to reduce your grocery bill without crossing your favourite items off the list - and you’ll reduce your food wastage, too.
Embrace DIY
Maintaining a house can be expensive, but with the help of the internet, there’s many tasks you can take on yourself to save money. For example, if the washing machine is suddenly displaying an error code, Google the appliance make and model to see what the fault is - it could be as simple as cleaning out a filter.
Of course, there are some jobs (such as anything electrical) that are best left to a professional, but taking on simple fixes such as replacing broken hinges and hardware, unclogging blockages and repairing plaster can help you reduce costs.
Other fixes such as sealing drafts around windows and doors, switching your light bulbs to LED and cleaning out your air conditioning filters can be a very effective way to reduce the cost of your energy bills - leaving you with more funds to spend on enjoyable things like activities or travel.
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Australian Pensioners Insurance Agency Pty Ltd (Apia) ABN 14 099 650 996 AR 239591 is an authorised representative of AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI), the issuer of Home, Landlord, Car, Caravan, Motorhome, Boat, Travel & Compulsory Third Party Personal Injury (CTP) Insurance.
The information is intended to be of general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.
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