26th September, 2017 | 3 minutes
Facebook logo image vectorLinked in vector image link your professional online profile Twitter logo image vector

Attention mums: cut your cost of living expenses with these handy tips

by Clare Thompson
Life Admin Geek

Life’s exhausting when you’re a mum, right? With family, work and friends all wanting a piece of you, little wonder the last thing you feel like is tackling all those annoying life admin tasks you know could be saving you money.

Think of it as an investment. A little time spent now on trimming down some of the big ticket items may see you laughing all the way to the bank, or shoe shop, or poolside cabana…

Attention mums: cut your cost of living expenses with these handy tips

Let’s call this meeting to order. Here are your top five agenda items:

1. Get focused and be clear about what’s happening with your finances

  • Make a ‘to-do’ list and stick to it.
  • Use a budget planning tool to help you get started (this one from our partner company InfoChoice is pretty good!)

2. Face your power bill fears! A recent survey found almost half of Australian households’ latest energy bills were larger than expected

  • Review your electricity provider to ensure you’re getting the best deal.
  • Turn appliances off and unplug them when not in use. Train the kids to do the same (good luck).
  • Close windows and doors to keep heat in or throw the whole lot open to cool things down before reaching for that split system remote control.
  • Research energy efficiency before buying appliances.

iSelect offers a quick and easy comparison of energy company offerings and has helped many Australians save on their power costs.

3. Get the best bang for your buck and make your money work harder for you

  • Ensure any savings accounts are set up to maximise any potential interest.
  • Health-check your home loan. With many competitive home loan products available in today’s market, contact iSelect to compare home loans and potentially switch to a loan that’s easier on the hip pocket.
  • Talk to a financial planner or consider DIY financial planning to help you manage your money more wisely.

Attention mums: cut your cost of living expenses with these handy tips

4. Turn detective on your direct debits. You know the ones: gym, phone, newspaper subscriptions, pay TV

  • If you’re no longer using the gym or enjoying that trashy mag – cancel your monthly subscription!
  • Investigate how you could save on the services you do use by switching from monthly to annual payments. Some health insurance companies offer discounts for this payment method.

5. Save on health and look after your family’s wellbeing

  • Make sure your health insurance covers what your family needs. Don’t get caught out by ‘junk’ policies. Try using our online comparison tool to find the right health insurance for your family, at the right price. Better yet, call us on 13 19 20 and have one of our health advisors give you a free health cover check-up on your current policy.
  • Ditch the pricey gym membership and get out and about instead. Walk or run by yourself, or better still, train with a buddy, with the kids or your partner. Exercise in the great outdoors is free and it makes you feel good!

Attention mums: cut your cost of living expenses with these handy tips

iSelect does not compare all products in the market. Any advice provided in this content is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice we give you, having regard to your personal situation, before acting on our advice or purchasing any product.

You might also like

Get on the list

Subscribe to receive fortnightly inspiration, articles on getting life right, advice and offers in your inbox