Saving money doesn’t have to be hard. By changing some daily habits you might find yourself with extra dollars in your pocket.
Below we’ve listed ten easy ways to save money at home.
Not only do you save money, but it’s easy! And, you can keep all your homemade cleaning supplies in recycled glass jars, which look aesthetically pleasing on your shelf.
There’s a sea of DIY videos on Youtube to get you started. You don’t even have to plan a supermarket run because most of the supplies should be in your cupboards.
You can make a basic homemade all-purpose cleaner with baking soda and white vinegar. Or a fly trap with just soap and apple cider vinegar.
Another way to become more cost effective in the kitchen is to split your sponges in half. Get a pair of scissors and snip it down the middle. Now you have two for the price of one!
A 3-pack of heavy duty sponges is about $2 at Woolies. If you cut it in half, you’ll be paying about $0.33 per sponge rather than $0.66. While it might not seem like a life-alternating amount, a little bit saved here and there could help in the long run.
Put on a chef’s hat and find simple recipes to get you started. Typically buying groceries is cheaper than going out. You can even make extra so you can have leftovers for days.
By opting to cook your lunches and dinners, you could save hundreds of dollars. In fact, at least $230! A Commonwealth Bank survey says Aussies spend an average of $230 on takeaway meals monthly. That’s $2,760 a year!
This little hack is perfect for those who don’t go through bread quick enough. Freezer bread doesn’t lose its nice bready texture and bounces back to its carby goodness after you hit the defrost button on the toaster.
Not only does this combat food waste, but frozen bread can last up to six months in the freezer!
The price of a paper towel 3-pack at Woolies is the same as a 10-pack tea towel set at Kmart. And you throw away paper towels after each use, while tea towels you can rinse, wash, and reuse it over and over again.
Not only is it better for the environment, but it’s also better for your budget.
If you want to reduce your energy bill, consider switching your light bulbs to LED ones. Not only does it save you money, but they last longer too.
According to Australia’s Department of Climate Change, Energy, the Environment and Water, “LEDs use about 75% less energy than halogen light bulbs and last 5 to 10 times longer, greatly reducing replacement costs and the number of light bulbs ending up in a landfill.
“The up-front cost of LEDs generally has a payback time of less than 1 year.”
This one is easy. Instead of leaving your washing machine, computer, printer or PS4 on idle mode, simply turn them off. Not only are you saving energy, but you help keep that battery life last longer.
That’s a win-win situation right there.
Speaking of washing machines. Consider using cold water for most of your laundry. Not only does it slow down colours from fading, but it also stops fabric from shrinking.
By using less hot water, you could save some money on your gas bill.
Feel like you’re paying too much for your NBN and energy plans? Then consider shopping around for better deals.
You can check out Mozo’s NBN comparison hub and energy comparison hub to start saving.
Last but not least, consider picking up the nifty life skill of basic sewing. Grab a needle and thread to close that annoying toe hole on your sock. Or sew a button back on your favourite shirt.
Once you start saving money here and there, you’ll need a place to put it! Below are some high interest rate savings accounts to get you started. Alternatively, you can check out the 2022 Mozo Experts Choice Savings Award winners to pick between some of the best savings accounts.
Deposit at least $200 to either Spend or Save account from an external source each month.
Earn up to 1.85% p.a in interest. No monthly fee to pay. Split your money in up to 10 Save accounts. Track your progress on each of your save accounts. Instant access to cash via PayID and Osko. Deposits guaranteed up to $250k per customer.
Earn up to 1.85% p.a in interest. No monthly fee to pay. Split your money in up to 10 Save accounts. Track your progress on each of your save accounts. Instant access to cash via PayID and Osko. Deposits guaranteed up to $250k per customer.
Read our Mozo Review to learn more about the Save Account
Bonus rate of 2.30% is made up of the Base rate of 0.05% and Bonus rate of 2.25%. Deposit $2,000 each month and make 5 eligible payments from your Go Account. If you are between 18 and 25 deposit $1,000.
Enjoy a high interest savings account bundled with an everyday spending account. No monthly fees. And new customers can get a welcome bonus of 5,000 bonus Virgin Money Points (ends 31/08/22. Offer criteria & T&Cs apply).
Enjoy a high interest savings account bundled with an everyday spending account. No monthly fees. And new customers can get a welcome bonus of 5,000 bonus Virgin Money Points (ends 31/08/22. Offer criteria & T&Cs apply).
Read our Mozo Review to learn more about the Boost Saver with Go Account
Make 5 card purchases/month with a Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
Are you 18 - 29 years of age? Earn up to a generous 2.75% p.a. variable interest on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30k.
Are you 18 - 29 years of age? Earn up to a generous 2.75% p.a. variable interest on your savings when you spend and save with Westpac. For individuals aged 18 to 29 on Westpac Life account balances up to $30k.
Read our Mozo Review to learn more about the Life - 18-29 years old
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
Winner of a Mozo Experts Choice Award 2022 in the Regular Saver category. No monthly account fees. Available only on balances up to $250,000.
Read our Mozo Review to learn more about the Bonus Saver Account
Make at least 1 deposit per month and no more than 1 withdrawal, including internal transfers or external payments. Must enable the Lock Saver feature. 32 days notice for withdrawal and T&C's apply.
Pay no monthly fees. Set-up to 9 personalised savings accounts and choose to lock as many accounts as you like to earn the maximum variable interest rate. With just 32 days notice to access your money again, your future self will thank you.
Pay no monthly fees. Set-up to 9 personalised savings accounts and choose to lock as many accounts as you like to earn the maximum variable interest rate. With just 32 days notice to access your money again, your future self will thank you.
Read our Mozo Review to learn more about the Grow Saver
^See information about the Mozo Experts Choice Savings Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
Maria Gil writes across all of our personal finance areas here at Mozo. Her goal is to help you think smarter about money and have more in your pocket. Maria earned a journalism degree in Florida in the United States, where she has contributed to major news outlets such as The Miami Herald. She also completed a masters of digital communications at the University of Sydney. When Maria isn’t busy with all things finance, you can find her tucked away reading fantasy books. She is also ASIC RG146 (Tier 2) certified for general advice.
Sign up below to get the latest from Mozo, plus exclusive direct offers, straight to your inbox!
By submitting your information you agree to the terms and conditions and privacy policy
Join the 25K+ subscribers who receive our weekly Moneyzone newsletter, showcasing the latest rate movements, exclusive deals, money-saving hacks, and expert insights from Mozo.
By submitting your information you agree to the terms and conditions and privacy policy
We assist thousands of Australians each month choose a banking, energy or insurance provider.
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.