This post brought to you by iSelect
It’s almost the end of January and despite being one month down, you’re likely still trying to discover how to get the best out of 2017.
Granted, getting back into the swing of things after the Christmas period can sometimes take a while. The daily juggling act between parenting and running a business is never easy, and can seem especially overwhelming after the Christmas break.
Before you get back into the groove though, use the down time that some of us are lucky enough to enjoy in January to take a life admin day and see where you can reassess and save in 2017, in order to spend those hard-earned dollars on what you choose to instead of what you must.
With the boring but important stuff then out of the way, you can focus on the needs of both your family and growing your business.
iSelect spokesperson Laura Crowden breaks down these finance hacks for January in 5 simple steps:
January hack #1 – Always act interested
With speculation that interest rates may rise in 2017, now is the time to be act interested in your mortgage. Switching to an interest rate even just a few basis points lower not only reduces interest payments and eases the pressure on the household budget. It also helps home owners shave years off their loan, if they ensure repayments stay above the minimum level. Now is also the time to considering if moving to a fixed mortgage while rates are still low might give you more security and make balancing your budget easier.
January hack #2 – Don’t sweat the summer stuff
Its summer, and it’s only getting started. Closing blinds and line drying clothes will help reduce your energy consumption to a certain extent, but the best way to save money on your energy bills is to make sure you are on the best plan to begin with. This is because a large portion of your energy bill is actually made up of network charges, and reducing your consumption won’t necessarily make a significant impact on your energy bill.
January hack #3 – Warning: The tide is rising
As you’re probably aware, private health insurance premiums are set to rise again on 1 April 2017. This is the perfect time to consider your current and future health needs, and a good place to start is by reviewing the events happening in your life at the moment, or in the not-so-distant future. It could be another child on the horizon, or on the other end of the scale, even kids moving out of home. As your health insurance policy should suit your lifestyle, these type of milestones need to be taken into account. And if you are in a position to do so, it can be well worth paying your annual premiums upfront before April 1 and avoid the rate rise for another 12 months.
January hack #4 – Busy kids = happy kids
If you want to stream movies or TV for restless kids on days that are just too hot to handle, it’s worth looking out for quota-free offers where streaming services like Telstra TV, Netflix, Stan or Presto are included in your plan and don’t come out of your data limit. This may enable you to go on a lower data plan than if you had to take your TV streaming into account.
January hack #5 – Feel like a taxi service?
If you’re taxiing around kids this holiday, it’s the perfect time to reassess your car insurance. For households with more than one car, an easy way to save money can be moving your separate policies into a singlemulti-car policy. These types of policies can offer great value, and the more cars on the policy, the more you could save… plus the added bonus of less paperwork!