It is no secret that 2025 is going to be another tough year for many of us financially. With the cost of living reigning on, our budgets will continue to feel that dreadful pinch. However, it’s important to know that you can take some control back. It is still possible to save money. If you are keen to grow your savings in 2025, we have created this guide to help you get started with our top 5 money saving tips.
1. Compare Bills
One of the most effective ways to unlock savings is to compare. There are so many benefits to comparing your household bills. NZ Compare’s range of comparison platforms make it easy and quick to compare your broadband, power, mobile plans, and other finances including personal loans, insurances and your mortgage. When you compare on a regular basis, you empower yourself to make a fully informed decision. There are so many key benefits to comparing, most importantly, saving money! Our platforms provide you with all the plans available to you, and they make it easy to narrow down the best ones for you when you select filters based on your preferences. There is simply no point in paying for more than you need to when you can find yourself a better deal in just a few clicks, and save money.
2. Choose a Better Savings Account
Do you have a savings account that has a high interest rate? This can be a great way to grow your savings in the background. Jump on Money Compare and compare different savings accounts, and apply for one that best fits your financial goals. Be sure to set up an automatic transfer for whenever you get paid so you can add to your savings account each month without having to remember or think about it.
3. Reduce Power Consumption
You can make a small, but significant difference to your power bill by being more conscious of your electricity consumption. There are many ways you can lower your power use. Consider investing in energy efficient appliances, and swap out traditional light bulbs to energy saving LEDs. Turn off appliances at the wall when you aren’t using them where possible and use cold water to run your washing machine. You can unlock some savings just by making a few simple energy saving switches around the house!
4. Cancel Subscriptions
You can save a significant amount of money each month by doing a subscription declutter. Go through all your subscriptions, and cancel the ones you don’t use, or use very infrequently. Be honest with yourself and think of the bigger picture – saving money! Your future self will thank you for unlocking extra funds that you can put into your savings account.
5. Plan Meals
A great way to save money on groceries is to plan your meals each week. Create a menu of all the meals you are going to have that week. Next, check your stocks. See what ingredients you already have in the pantry, fridge, and freezer. Then make a list of the items you do need. With this list, you can hit the supermarket with an intentional plan, and avoid buying products without thinking of their purpose. You can save a lot of money by being more thoughtful about your grocery shopping and tackle it with a plan. It can also help to shop online, with delivery of click and collect. Avoid those pesky supermarket aisle temptations!
