You’re not alone – Australians everywhere are feeling their bills creep up alongside the soaring cost of living. Mounting bills have become a huge headache for countless people, now more than ever. But don’t despair – we’ve put together some top tips to help you reduce your bills and get on top of how you manage them. So if you’re tired of the stress that comes with opening your inbox to find yet another bill, read on!
Here are our 5 top tips:
1. Explore the Australian Government rebates on offer
If you need assistance with your energy bills, there’s approximately $1.4 billion in government support available across states and territories in Australia. Concession card holders, low-income households, and those seeking to enhance energy efficiency may be eligible for substantial rebates. Here’s a quick guide on seeking rebates:
- To find applicable rebates, your first step is to visit your state or territory government website or explore the federal government’s www.energy.gov.au website, which allows you to search for rebates based on your location.
- Inform your energy retailer of any concession cards you might hold, and they can often automatically arrange any rebates you might be entitled to.
- Apply for rebates directly to avoid missing out. Examples of state-specific rebates according to Nine News Finance include:
- The $200 seniors energy rebate in NSW for Commonwealth Seniors Health Card holders.
- The $250 “power saving bonus” in Victoria for visiting the Victorian Energy Compare website.
- The $400 Household Electricity Credit in WA is available through a designated website.
- The $449 Cost of Living Concession in SA is accessible to both low-income households and concession card holders.
Exploring these opportunities is the simplest way to immediately alleviate the burden of energy bills and make the most of the available financial support you may be entitled to.
2. Reduce your consumption
In Australia, the biggest sources of household energy consumption and expense include heating and cooling, hot water systems, household appliances and lighting. According to the Australian Government resource www.energy.gov.au, implementing these simple measures can help reduce energy usage and expenses:
- Heating and cooling: close off unused rooms and use draught stoppers and weather seals. Enhance window efficiency with well-fitted curtains. Choose fans to improve comfort levels or set air conditioning between 25°C and 27°C in summer and heat between 18°C and 20°C in winter.
- Hot water systems: insulate hot water pipes to minimise heat loss and consider upgrading to energy-efficient hot water systems such as heat pumps or solar systems. Reduce water usage by using efficient showerheads and take shorter showers.
- Go for energy-efficient appliances: when buying new appliances, choose TVs, fridges and dishwashers with high energy star ratings. They might cost a little more upfront but will pay off in the long run. Also remember to unplug appliances when not in use, use power-saving modes, and use cold water for washing clothes when possible.
3. Go green
The take up of solar panels has skyrocketed in Australia and for good reason. Not only will you be enjoying savings on your power bills over time, but you’ll also be reducing your family’s carbon footprint by creating your own renewable energy. There are plenty of incentives available – start at www.energy.gov.au/rebates to find out what you might be eligible for. There are also green finance options available to make installing solar more accessible. If you’re looking for a loan to go green, Apply online today or give one of our dedicated loan consultants a call at 1300 727 431.
4. Shop for the best deal
Be aware, there can be significant cost differences between energy providers so you need to do your research to ensure you get the best deal available. Your first step is to consult the Government Reference Price, which serves as a benchmark to compare each plan. Here’s where to go to help in finding the cheapest deals in your state:
- NSW, SA, QLD, or Tasmania – use the federal government comparison website, Energy Made Easy (www.energymadeeasy.gov.au).
- Victoria – Compare Energy (www.compare.energy.vic.gov.au).
- In Western Australia, only gas providers can be switched. To find the cheapest gas plans, you can use the federal government comparison website, Energy Made Easy (www.energymadeeasy.gov.au).
5. Consolidate debt
On top of energy bills, many of us are dealing with other bills from consumer debts like car loans, personal loans and payday loans. When the burden of managing multiple debts becomes overwhelming, a debt consolidation loan is a life changer. With debt consolidation loans you can combine all your debts into a single personal loan.
Consolidating debt with a personal loan not only streamlines your debt management with one easy payment, but also eliminates the need to pay multiple fees that can eat into your disposable income. By opting for a debt consolidation loan in Australia with Rapid Loans, including bad credit debt consolidation loans, you can regain control over your finances and alleviate stress.
Loans for debt consolidation provide the convenience of a consolidated payment plan while potentially reducing your overall interest rates and fees. Consolidating your debts into a single loan helps you get on top of your bills and save money in the long run.
Find out how much you could save by consolidating your debts and contact Rapid Loans to speak to one of our loan consultants regarding your debt consolidation loan application. Apply online or call 1300 727 431 today.