15 Best Money Saving Tips in Australia

Saving money sounds easy. But when bills pile up and prices rise, it’s tough to know where to start. These 15 money saving tips are simple, practical, and designed for real life in Australia. They won’t fix everything overnight—but they can help you take control and get ahead.

Even small changes can lead to big results over time. And if existing debt is making it harder to save, Credit24 may be able to help. With flexible loan options, you could simplify repayments and potentially free up more room in your budget.

Learn more about Credit24

15 best tips to save money

1. Aim for a realistic budget that you can follow

If you don’t know where your money’s going, it’s hard to make it go further. Start by tracking every dollar you earn and spend for a full month. This helps you spot problem areas—like too much spent on takeaway or forgotten subscriptions.

Use the 50/30/20 rule to guide your spending: 50% goes to essentials, 30% to non-essentials, and 20% to savings or paying off debt. You don’t need to be perfect. Just aim to be consistent.

Set realistic goals. Even saving $20 a week adds up to over $1,000 a year. And don’t forget to review your budget monthly to adjust it to any changes in your spending routine. Life changes, and so should your budget.

2. Automate your savings

The less you have to think about saving, the more likely you are to stick to it. That’s why automating your savings is one of the easiest and most effective money saving tips.

Set up a regular transfer from your everyday account to a savings account every payday, ideally the same day your pay lands. It doesn’t have to be big. You could start with as little as $25 a week if that’s what you can afford.

You can also use round-up apps that move the spare change from purchases into savings. For example, if your coffee costs $4.20, the app rounds it to $5 and saves the extra 80 cents.

3. Build an emergency fund
Unexpected expenses like car repairs or dental bills can derail even the best budget. An emergency fund acts as a financial cushion, so you don’t have to rely on credit cards or loans when life throws a curveball.

Start small. A goal of $1,000 is a great first step. Once you reach that, aim for three to six months’ worth of essential expenses. That might sound like a lot, but it’s okay to build it slowly.

Keep your emergency fund in a separate account so you’re not tempted to use it. And make sure it’s easy to access when you really need it.

4. Master grocery savings with strategic shopping
Groceries are one of the biggest weekly costs for Aussie households. But with a bit of planning, there’s plenty of room to save up without cutting quality.

Plan your meals for the week and write a shopping list before you head to the store. Always stick to the list and avoid shopping when hungry - it will only provoke impulse buys.

Compare unit prices (not just shelf prices) and don’t overlook supermarket brands - they’re often just as good and much cheaper. Buy fresh produce when it’s in season, and freeze leftovers to reduce waste.

Cashback apps, supermarket rewards points, and loyalty programs can add up over time too. They’re free to use, and the savings go straight back into your pocket.


5. Cancel what you don’t use

It’s easy to forget about direct debits for gym memberships, apps, or streaming services you rarely use. That’s money quietly disappearing each month.

Every few months, take a look at your bank statement or use a budgeting app to list all your recurring payments. Are you actually using or just paying for them? If the latter, you could cancel the ones you don’t use right away.

You can also share family plans with trusted relatives or friends to reduce costs. And don’t forget your local library - it’s a goldmine of free content, including audiobooks, eBooks, movies, and more.

6. Lower your energy bills
Energy bills can eat up a big part of your budget, especially in summer or winter. But small changes around the house can lead to big savings.

Switch to LED lightbulbs, which use less power and last longer. Use cold water for washing clothes (it cuts 80–90% of your washing machine’s energy use). Turn off appliances at the wall to avoid phantom power drain.

Set your aircon to 24°C in summer and 18°C in winter—every degree makes a difference. Once a year, compare providers. You might find a better deal with little effort.

7. Change your transportation costs
Fuel and car maintenance add up quickly. To cut costs, consider walking, cycling, or using public transport for shorter trips. It’s better for your wallet and and also for the environment and health.

If you need to drive, try to combine errands into one trip and avoid peak-hour traffic. Keep your tyres firmly inflated - that improves fuel efficiency.

If you don’t use your car daily, you might consider a car-sharing service instead of owning a vehicle. It’s a flexible, low-commitment alternative that suits many urban households.

8. Cook at home more often

Ordering takeaway might be convenient, but it’s a habit that eats into your budget. Just one $25 meal each week adds up to $1,300 a year.

Instead of eating out or ordering takeaway, spend a few hours on the weekend prepping meals. Cook in batches and freeze portions for busy nights. Experiment until you find five to ten go-to meals that are cheap, easy, filling, and that you love.

Coffee is one of those small daily habits that quietly eats into your budget. Swapping café coffees for homemade ones, especially if you take it with you in a reusable mug, could save you over $1,800 a year. That’s money that could go straight towards savings, bills, or even paying off debt

9. Wear what you already have
Before heading to the shops, check your wardrobe. You might already own something that fits the occasion. Try mixing and matching outfits to make things feel fresh.

Follow the 24-hour rule: if something costs more than $50 and you don’t need it urgently, wait a day. Chances are, you’ll realise you don’t need it at all.

End-of-season sales and op shops can be great for bargains. And clothing swaps with friends are a fun way to refresh your wardrobe for free and nurture friendships.

10. Choose free fun

Entertainment doesn’t have to be expensive. Local councils and libraries often run free events - from movie nights and kids’ activities to yoga.

Museums and galleries sometimes offer free entry days. Nature is free too. Have a picnic in the park, explore national parks, or hit a local walking trail.

Instead of a night out, try a potluck dinner with mates. Everyone brings a dish, so you save on food and drinks while still enjoying good company.

11. Ask for better deals
Bills aren’t always fixed. You can often get a better deal just by asking. Contact your phone, internet, or insurance provider and ask if they can offer you a better rate.

If they say no, check a comparison site and be ready to switch. Loyalty doesn’t always pay in the long run. You can also bundle insurance policies (like car and contents) to unlock discounts.

Make this a yearly habit and it might become one of the easiest ways to save hundreds with just a few phone calls or clicks.

12. Make extra cash from things you own
Most likely you have things lying around the house that you don’t use and they could be worth something. Consider selling these items on Facebook Marketplace, Gumtree or eBay. It’s a simple way to declutter and earn extra cash.

Got a spare room or parking space? Think of renting it out. Maybe you could offer services like pet sitting, tutoring, or running errands through local platforms?

You don’t need a side hustle to make a difference. Even small one-off jobs can help boost your budget when things are tight.

13. Strategic debt management to free up cash flow
1Debt can make saving feel impossible, but there are ways to manage it that might free up more of your income.

Start by listing your debts and their interest rates. Focus on the most expensive ones first (this is known as the avalanche method). If you can, pay more than the minimum - every bit helps reduce interest.

Some people consider debt consolidation to combine multiple debts into one payment. This could lower your interest and make repayments easier to manage.

15. Avoid common financial mistakes
It’s easy to lose momentum with habits that quietly increase spending. For example, when your income rises, it can be tempting to spend more. Instead, consider putting any extra income towards savings or paying down debt.

Check your bank statements regularly to catch any unexpected charges. Use strong passwords and two-factor authentication for your online banking.

And before making any big purchases, try to separate wants from needs - it might keep your savings goals on track.

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If you’re juggling bills or dealing with a surprise expense, a personal loan may help. At Credit24, we offer flexible loans of up to $10,000.

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