Consumer NZ is offering advice to help New Zealanders save money in 2024 as the cost of living continues to rise. Here are their top tips:
1. Save up to $670 by switching car insurance providers. Consumer NZ found that there are differences between policies that could save people money. A family of four could save up to $56 a month, or $672 a year, by shopping around for their car insurance. Younger people could save nearly $38 a month, and older people could save an extra $40 a month.
2. Save up to $385 with Powerswitch. This is a free service that helps you find the cheapest power company and pricing plan. The average saving for Powerswitch users was $385 this year. However, make sure you’re not tied into a contract before switching providers to avoid a contract break fee.
3. Save $200 by shopping around. Use free price-tracking tools to find the best prices for everyday essentials. Apps like The Grocer, Gaspy, and PriceSpy can help identify price differences and find the cheapest options.
4. Save $500 by being energy efficient. Small changes around the home can lead to big savings. Washing clothes in cold water could save over $100 a year, taking 5-minute showers can save up to $260 per person per year, and switching appliances off at the wall can save more than $100 per year.
5. Save money by reviewing your subscription services. Check your weekly, monthly, and annual subscriptions to see which ones are no longer providing value. You might decide to cancel them, downgrade your plan, or search for a cheaper alternative. Just make sure you’re at the end of your contract before making changes to avoid break fees.
