24 money hacks that could save you big bucks

Since March 2024, we've been sharing bite-sized money hacks in our fortnightly Insights newsletter - little tips to help you save or even make money. From clever cashback tricks to discount-stacking and savvy shopping tips, the goal has been to put real dollars back in your pocket. 

Whether you've missed a few, want a refresher, or are discovering them for the first time, we've rounded them up in one handy article.

1. Turn shopping cashbacks into super or mortgage savings

You've probably heard of cashback sites that give you money back each time you buy something from a retailer linked to their platform. That cashback can potentially be used to boost your super or reduce your home loan. One provider that allows cashbacks to be paid directly into your super or mortgage is Grow My Money.

If you use a different provider, such as ShopBack or Cashrewards, the cashback is typically deposited into your savings account, and you can then choose to put it toward your mortgage yourself. A $40 cashback per month could potentially cut the interest bill on a $600,000 home loan at 6.5% by around $28,000 over 30 years.

2. Cut your energy bills with sign-up deals

You could score as much as $200 by switching energy or gas providers. Typically, you'll get this as a credit off your first bill. Cashback offers shouldn't sway your decisions but if there are no switching fees they could be an easy way to cash in.

3. Check your insurance in your super

Insurance premiums can vary between blue-collar and white-collar workers due to differing risk profiles. Some super funds default new members to a blue-collar rating, potentially resulting in higher costs. If you're in the wrong risk category, you could be paying more than you need to and, because you pay for your premiums from your super balance, it can impact your retirement balance.

4. Look for "ugly" produce

You could save up to 30% on fresh farm produce just because it might look a little funny. Aussie businesses such as Farmers Pick and Good & Fugly work with farmers directly and sell what they can't move so you save. 

5. Spread the word and earn rewards

Many companies offer perks for referrals. With Vodafone's Refer a Friend, you could pocket up to $250 credit while Adore Beauty gives both you and your friend a $20 reward when you spend $99. And here at InvestSMART we provide a $100 bonus for every successful referral.  

6. Read your energy bill

A little change was made to energy bills in late 2023 that some people may still not have noticed. Right on the front page there should be a box that says: "Could you save money on another plan?" If your provider has a cheaper plan for you based on your past usage, they need to let you know. Switching plans could save you money, even if it's with your existing provider.  

7. Never lose a tax receipt again

The myDeductions tool in the ATO app could be a game changer if you're looking for a way to streamline your tax receipts. It's free to access and you can upload your records at tax time to make lodging your tax return a little easier. 

8. Consider stores with generous return policies

Bunnings' Perfect Plant Promise lets you return a dead plant within 12 months. Pet Barn's Taste Guarantee offers exchanges if your pet dislikes the food. And Ikea accepts returns of opened products within 365 days - even assembled ones.

9. Get a cheaper mobile deal but stay on the same network

There are only three mobile networks in Australia - Telstra, Optus and Vodafone. So even if you go with a smaller, cheaper provider, you'll still be using one of those networks. Telstra's 50GB plan, for example, will cost you $65. Switch to Everyday Mobile (on the same network) and you can get 55GB for $40 per month.

10. Get a week's worth of groceries for free

Coles and Woolworths are back on some cashback sites, letting you earn cash back on your regular shop. For instance, Cashrewards offers a 2.5% cashback on every Coles online shop of $200 or more. According to Canstar Blue, a typical household of four spends $216 per week on groceries. That means a 2.5% weekly cashback adds up to more than a week's worth of free groceries over a year.

11. Get 50% off your restaurant bill

If you don't mind eating early, head to firsttable.com.au where restaurants offer their first table of dinner, lunch or breakfast at a major discount. You pay a booking fee of $8 to $12 to lock in 50% off the food bill for two to four people. Drinks aren't included, but with those sweet savings, you'll have extra cash to toast the occasion!

12. Use AI to negotiate a better deal on your bills

Haggling with your current provider can be a great way to cut the costs of your bills without the hassle of switching but the tough part can be knowing what to say. A chatbot such as ChatGPT can help. Type in something along the lines of: "What should I say if I want a better deal on my energy bill/home loan/car insurance?" and it will come up with suggested phrases.

13. Buy big-ticket grocery items at half price

The cost of dishwashing tablets, laundry powder or toiletries can really add up. One way to avoid paying full price for these is to download the HalfPrice app. It shows you everything that's 50% off at Coles and Woolworths. When you spot pricier items at half price, then take the opportunity to stock up.

14. Save money on petrol by stacking discounts

Did you know you can combine fuel discounts? Here's an example: If you're an Everyday Rewards member, you can save 4c per litre on fuel when you spend $30 or more at Woolworths. Spend $5 or more in-store at EG Ampol and you'll get an extra 4c a litre discount. And if you're an NRMA member you can save a further 5c a litre at Ampol. Add those together and your savings come to 13c a litre.

15. Use discounted gift cards to score instant savings

Keep an eye out for special offers on gift cards that you can then use to secure a discount on groceries or other shopping. Let's say you bought a $100 gift card for $90 (10% off) and you use it to buy a $100 shirt. Technically, you only spent $90 on that shirt. Major supermarkets regularly offer discounts on gift cards. Also check whether your insurer, motoring organisation or telco providers offer discounted gift cards.

16. Set the right temperature on your air conditioner

Many of us rely on the air con to stay cool in summer and warm in winter. The problem is, if you set the temperature too low or too high, your energy bill can rise quickly. It's estimated that each degree of difference can increase your heating and cooling energy use by 5% to 10%. Experts suggest you set the temperature between 25 and 27 degrees in summer, and between 18 and 20 degrees in winter.

17. Cash in loyalty points to save money

Need to make a purchase but money is a bit tight? Check your loyalty points. Supermarket, credit card, or frequent flyer rewards can often be turned into discounts, gift cards or even physical items. You can use your points to buy gifts or redeem them for essentials to free up cash for other expenses. It's an easy way to stretch your budget without spending a cent extra.

18. Take the Bingo savings challenge

Print out this bingo card, then each week, pick a dollar amount to pop into a savings account and cross off that number. After 52 weeks, you'll have $1,000 stashed away. Have a bigger goal in mind? Add a zero to each number and you'll have $10,000 saved in a year!

19. Do a subscription audit

Make a list of all your subscriptions - Netflix, Stan, Audible, Spotify, HelloFresh, gym membership etc - and if you're not making the most of them, then cancel them to save yourself some money. You can always resubscribe if you find that you're missing them.

20. Never buy anything online without searching for a discount code

This is one of the easiest ways to score savings on your online purchases. Just Google the store's name along with "discount code" or "promo code" to see what pops up.

21. Spread your grocery shopping across multiple supermarkets

Choice estimates that you could potentially save as much as 40% on your weekly grocery bill by shopping across Coles, Aldi, Woolworths and others. You need to be strategic, though. Choice suggests you research specials available at each store and weigh the extra travel time and effort against the savings.

22. Check your local TAFE for discounted services

It's possible to save big bucks on meals, hair and beauty services and even flower arrangements at vocational education institutions such as TAFE. You'll be helping students learn and nabbing a bargain in the process. Men's haircuts can start as low as $5, and you could pay as little as $40 for a three-course meal.

23. Check if you're eligible for a corporate discount on your health insurance

With premiums having gone up by an average of 3.73% from April 1 2025, it can pay to look for savings. Ask your employer, super fund, mutual bank, or credit union if they offer any discounts or health insurance perks. If you're part of an association or club, check with them too.

24. Save on laundry costs with two simple swaps

Running full loads of laundry and using cold water will be better on your hip pocket than doing half loads with warm water. Calculations from consumer group Choice show that if you switch from washing a half load every day with warm water to washing a full load every day with cold water, you could save about $180 a year.