The University’s novated lease provider is sharing activities this month to make use of cold weather hibernation, including a home expense health check to take advantage of money-saving opportunities.
It’s easy to get complacent when it comes to regular expenses, so while spending more time indoors NLC suggests it can be valuable to invest in some research with four basic steps:
Step 1: Compare energy suppliers
The easiest way to work out if you’re getting a good deal on your electricity and gas is to head to the Australian Government’s Energy Made Easy website. There are free tools to compare all the retailers and help determine whether there’s a better plan. Alternatively, it can be worth asking your existing provider if they can do a better deal after reviewing competitor offers.
Step 2: Understand your home loan rate
A home loan might have had a competitive interest rate several years ago, but as time passes, it’s worth checking this is still the case. Research and understand the deals in the market first. If you find you need to, have a conversation with your lender to try and negotiate a reduced rate. Given the average amount and length of a mortgage, a seemingly small discount can be significant over the life of a loan. Refinancing can be an option.
Step 3: Check on your internet
If you’ve had the same internet plan for a while, it’s worth browsing. With the introduction of the nbn network, a current provider may have a more enticing deal or increasing competition may mean a better option is out there.
Step 4: Review home and contents insurance
Homeowners can save simply by shopping around each time a policy renewal arrives.
Before obtaining quotes, read through your current policy and understand what you’re covered for to ensure you’re comparing apples with apples and getting the level of cover you need.
Bonus tip: Tackle your tax
If not completed already, finalise your tax return early if there is potential for a refund. Remember to claim for additional home office expenses.
Keep an eye on the NLC website for other handy tips, including information on novated leasing.