As the New Year approaches, finding ways to save money is key, and 9News Money Editor Effie Zahos shares her top hacks for 2025. One effective strategy involves auditing household bills, which could yield average savings of up to $2,790 in the first year by switching to better deals on common expenses. Notably, Australians can potentially save $975 on home insurance, $958 on car insurance, and $219 on health insurance by comparing options. Savings of $174 on NBN plans and $129 on mobile services are also available.
Additionally, participating in local garage sales or online platforms like eBay, Facebook Marketplace, and Gumtree could allow families to clear out unwanted items and earn extra cash. Resellers suggest that simply selling unused Christmas gifts could net each household around $100.
For government support, individuals earning $45,400 or less may be eligible for $500 in superannuation, provided they contribute $1,000 by July 1. Moreover, trimming plastic spending, such as reducing subscription services or dining out less, can lead to significant savings—up to $3,120 a year. In simpler terms, replacing money-draining apps with savings-focused alternatives, and using services that offer discounted food can further enhance financial savings. Always ensure any financial decisions align with personal circumstances and goals.