The cost of living can put a strain on household budgets, but there are small things you can do to make your money stretch further. Here are some tips to keep in mind to help you save that little bit extra.

Compare unit prices at the grocery store

When deciding between products during your grocery shop, have a look at the unit price of each. The unit price is the cost of the product per standard unit of measurement.

For example, a bag of pasta made by one brand might cost less per kilogram than a competitor brand’s bag of pasta. Or a different size pack might be better value. You can check this by looking at the shelf label, which often displays the unit price.

Choosing the brand that offers the best value unit price is a savvy way to spend less on your grocery shop.

Watch this short video on unit pricing.

Look out for subscription traps

Many service providers offer free trials or discounted fees for new customers. These can help you save money in the short term but can trap you in if you forget to cancel or if it’s a difficult process to do so. Some businesses use tactics to trick you into spending more money than you intended.

Be cautious of signing up for an offer if you notice any of the following:

• hidden costs, like extras and add-ons, that aren’t disclosed until the end of your purchase.
• subscriptions that are easy to sign up for but difficult to cancel.
• pop-ups that distract you from cancelling a subscription or leaving a website.

Review your subscriptions periodically to make sure you aren’t paying for any unwanted services.

Know when you’re entitled to a refund

Avoid being ripped off by knowing your rights to a refund. If you’ve purchased a product that’s faulty or doesn’t match the description, you’re eligible to get your money back. Always explore your options before spending extra money on repairs or replacements.

Shop around to lower your bills

Bills are often the biggest strain on your budget, so it’s important to make sure you’re paying the best price. Review your bills regularly and compare what your providers are charging compared to other companies. Remember that it doesn’t always pay to be loyal. You might be paying a ‘loyalty tax’, where you’re charged more than new customers are for the same product or service.

Being proactive is the best way to avoid paying more. Comparison websites can help you figure out what the best choice is for your budget. But be aware that they may not show you all of your options, so it’s best to research widely.

Find out more about comparison websites on the Australian Government’s Moneysmart website.

Pay the lowest price for fuel

Did you know that South Australia has a mandate in place that requires petrol stations to report real-time petrol prices? Check and compare the price of fuel in the area you plan to buy in advance, using fuel price apps and websites. Finding the cheapest price will help take some pressure off your weekly budget.

Learn more about using fuel price apps and websites to compare fuel costs.

Avoid scams

Be alert and never hand over your personal information or banking details online when it isn’t necessary. Scammers work fast and tell believable tales to stop you from recognising the signs of malicious activity.

Make sure that you stop and ask yourself if you trust a person or website before handing over your details.

More information

Visit the Consumer and Business Services (CBS) website to find out about more ways you can be savvy with your money.