SAVING THE PENNIES – MONEY EXTRA

We all know prices are going up and up, but how do we make our dollars go further in these inflationary times?

Liam Kennedy from the consumer organisation Choice has lots of ideas on how to save money from changing your shopping habits to being more energy conscious at home.

At the supermarket, compare unit prices to get the cheapest products, and buy home brands. He says they have improved in quality and can save you up to 40 percent on your shopping costs. Avoid pre-cut food items as they can cost up to five times more.

To cut energy bills, try to run a full load of washing, keep your filters clean so your dryers and air conditioners don’t have to work as hard, and turn off appliances rather than leaving them on standby.

Choice surveyed one thousand households and found that 86 percent of respondents had seen their cost of living increase this year.

Useful links –

• Choice: Top 30 Money Saving Tips
• Moneysmart: Simple Ways to Save Money
• ABC: How to Save Money

Baby Boomers Guide Money Extra segment is supported by the Ecstra Foundation and the Older Womens Network NSW.