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Chapter 1: What are the 10 big homeowner expenses discussed in this episode?
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That means it's not specific to you, your needs, goals or objectives. So don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer and link to our financial services guide in the show notes. Kate Campbell, welcome to this episode of the Australian Finance Podcast.
I'm here.
You are here. Welcome. It's good to be back. It is good to be back. Today, we're talking 10 ways that homeowners can save, but we're also going to throw in some things if you're renting. Basically, anyone can save money from these tips. So with mortgage interest rates going up, with rents going up in some places, the cost of living, the cost of iceberg lettuce, I haven't had one of those in ages.
It's all up in the air and people are pretty unsure about their expenses, like how they're going to make ends meet in certain respects. So that's why we're here today to give them 10 actionable strategies and ways to save money. And it ties in with your recent purchase of a home.
Yes. Well, it's been very interesting to me because there seems to be expenses everywhere as a homeowner. So starting from the mortgage, that's the expensive part, but there's a lot of other expensive bits. So this deep dive, I went down trying to figure out ways to save money around the house and thought we'd share it with you. And we've got some listener suggestions in here as well.
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Chapter 2: How can homeowners save money on their mortgage or rent?
So whether your toilet's not up to standard, your taps are leaking water or spraying water in the wrong direction when you turn them on, trying to work out ways to make your water usage more efficient. I remember growing up, there was the whole thing about having really short showers or showering in a bucket and then using that to water the plants. I don't know if you got that.
No, I do, because we weren't allowed to wash cars in driveways. All that sort of stuff was kind of, and that gave rise to this whole industry of car washes and blah, blah, blah.
Yeah. And in Victoria, there's a scheme to have energy, not energy, water efficient shower heads, which our producer Monique told me about. And so there's a whole list of people that are allowed to install these and they just claim the rebate from the government on your behalf. They also do it with light bulbs and a few other things. So you can get a free shower head.
Yeah, that's great. So you can. If you've got one of those old like round steel ones that send water in every direction, it feels like you're standing under like the Niagara Falls when you're having a shower. It feels great for sure.
So my new shower head that is energy efficient and free is a much... Better option. Better option, yes.
Yeah. And so if you want to learn like very simple, if your tap's leaking, seriously go onto YouTube, go Bunnings, space, leaky tap, and you will get so many solutions to your problem. It's not funny. It's seriously easy. Like if DIY it, you can fix it pretty quickly.
um next one is on furniture appliances and kitchen items this is number five yes so if you discover that you need some furniture appliances or kitchen items there's a lot of things you can do rather than just going out to myers or ikea and buying them um firstly i'd recommend asking friends and family because a lot of people have spare appliances sitting around their house or pieces of furniture in the garage that they don't want but it hasn't quite gotten to the op shop yet
or they don't want to give it to the op shop because it has some sentimental value but they don't actually want in their house so but just by asking around you can find a lot of furniture and appliances and a lot of people bought things during lockdown that they used that um pie making machine once and they didn't really want to make it again i've had a few waffle machines in my past
Yep, they happen. So this works both ways. If you've got stuff around the house, sell it. If you want to buy something, go on and buy it. A good example of this in action was when a couple of years ago at Rask, we had Sophie, who was our designer, fantastic. She's now moved on. But we got everyone ergonomic chairs to use at home. And she got the name of the chair, brand new, it was like $400.
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Chapter 3: What insurance tips can help reduce homeowner costs?
Cool. Okay, there are 10 things. Just to recap, in reverse order, we've got pets, moving costs, repairs and maintenance around the house, get multiple quotes, transport, see if you can use public transport, food, don't forget legumes. We've got furniture, kitchen and appliances, buy, hold, sell. Put it on Gumtree or on Facebook if you want to. Water bills, there are many ways to get that down.
In most states, you will be able to find that you can get a free shower head if you haven't already, as well as light bulbs, just FYI. Electricity, white goods. Right now, electricity is going through the roof, so is gas. There are efficient ways to save. I really like your idea of putting the washing machine on overnight. Insurance, be sure to renew regularly and check prices.
Even if you are part of a loyalty program like RSCQ or whatever you're part of, be sure to check the prices in the market. Pay annually if you can. Your mortgage slash rent, lock in your rent if you are so inclined. And for your mortgage, be sure to speak to a broker to see if you can refinance, maybe even get a cash back. 10 wonderful things and ways to save money.
Yeah. I mean, there's lots of things on this list and I'm sure there's plenty more in our community. So if you want to share some of your savings tips with us via the podcast inbox or via socials or through our Facebook community, definitely let us know.
Yeah. Reach out, say good day. And if you do want us to bundle all these up in our mega episodes that we do around Christmas time, we're going to have to come up with, Kate, 23 ways to save and invest in 2023. We've done that For the last two years, they've been our most popular episodes ever. So we are taking suggestions.
23 fresh ideas. 23.
I still, I think the best tip ever was from your parents, which said, instead of buying two small coffees, buy one large one and share it. I still think that's great, but I don't know how that would work if you have soy milk and a regular milk drinker or a mocha drinker or something like that.
You have to be of the same persuasion.
Yes, you do.
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