How to Save $1000 in just a few hours

“How to Save $1000 in just a few hours”, money-saving hacks from Joel Gibson’s book, Kill Bills!

Ready to save over $1000 in a couple of hours? Let’s get to work!

BILL #1: Energy

  • Grab your last electricity bill and go to the government website compareenergy.vic.gov.au (in Victoria) or energymadeeasy.gov.au (in NSW, SA and southeast WLD) and enter your details. Pick the deal you like most out of the top 5 list.
  • Next go to onebigswitch.com.au (where Joel Gibson works) to find the current group-discounted deal is in your state. (Reason these don’t always show up on the government website).
  • Now you’ve got the two cheapest offers in your hand. Pick a winner and switch in minutes.
  • If you really like your provider, call them and ask if they can beat the best price. Script “Hi there, I’ve been a loyal customer of yours for years and I’d like to stay on, but I’ve just received two really good offers from the other providers. I wondered whether you can beat them? Perhaps you could put me through to someone on your retention team to see if they can help?”

Typical saving: $100 - $400

Repeat the process for natural gas and you also can save typically $50-200 a year.

BILL #2: Telco     

  • Go to whistleout.com.au. Enter your current info – data limits, inclusions and network – and they’ll show you some options. (NB You may see a couple of featured ads from those who pay for the top spot, but then they’ll rank the rest from cheapest to most expensive).
  • Inside Info: All mobile plans in Australia run on the Telstra, Optus or Vodafone networks, so you can get Telstra coverage at Aldi prices.
  • Look at the top 3 to 5 options and pick one you like. Then simply sign up to the plan you’ve picked and make the switch. If you like to stay with your current provider, then call them up and ask them to beat it. Again use the same script as above.

Typical saving $150-$300 across both bills.

BILL #3: Credit cards

  • Go to finder.com.au and click on “Balance Transfer Cards”. You can sometimes pay no interest on balance transfers for up to 2 years! Ideally pick one that also has a low or no annual fee and a low or no “balance transfer fee”.
  • Pick a winning card, move all direct debits onto the new card, cut up the old card and throw it away. Try not to use the new card. The aim is to pay off the new card within the interest free period.

Typical saving $300 a year.

BILL #4: Car Insurance

  • Grab your last renewal and hop onto your insurer’s website. Get a quote using most of your policy details but make sure they don’t know it’s you.
  • Next find who the recent Canstar award winning car insurers are, such as budgetdirect.com.au and youi.com.au and get a quick quote from them using the same details you used.
  • Once you find the best deal, decide if you want to switch or call up your insurer to match it.
  • Here’s the script to use, “Hi, my name is ____ and I’ve been a loyal customer of yours for ___ years. I couldn’t help noticing that you’re charging me ____ more than you’re charging a new customer. I know this because I got a quote on your website for a new policy with my details and I must have accidentally put in my neighbour’s address. Whoops! I’ve also got a quote from another insurer called ___ and it’s only $___. I’d like you to match or beat those other quotes, please if you can I’ll renew right away now.”

Typical saving is $100 - $400 a year.

BILL #5: Home Insurance

Repeat for home insurance.

Typical saving $100-$400 a year.

BILL #6: Home Loans

  • Check your current home loan interest rate. You can find it on your recent statement or on your internet banking profile.
  • Go to canster.com.au or finder.com.au and find what the cheapest rates on the market are.
  • If you’re happy to take calls from brokers, put your details in at the online mortgage marketplaces loandolphin.com.au or lendi.com.au and see what deals they offer you.
  • If you’re not ready to make the switch, you can call your lender or your broker and tell them what you’ve been offered.

Typical saving $500-$2000 a year.

If you want more money saving hacks, grab Joel Gibson’s book, Kill Bills! Joel Gibson is campaign director at One Big Switch. This is an edited extract from his book Kill Bills! The 9 insider tricks you need to win the war on household bills (Simon & Schuster). KillBillsBook.com.au RRP $20.

Source: Herald Sun

This is a summary of the article “How to Save $1000 in just a few hours”, money-saving hacks from Joel Gibson’s book, Kill Bills! Dated 5/1/2020 author Joel Gibson.

January 22, 2020

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