In 2025, keeping track of our budgets, and finding ways to ease our expenses, is the best way to achieve financial well-being this year. With the cost of living pinching our budgets, we have put together a guide to help you best manage your expenses and spending, so you can make savings and navigate the year a little smoother.
1. Compare Utility Bills
You can free up your income by comparing your utility bills. With price increases on the horizon in the power and telecommunications sectors, it’s important to compare your bills. Here at NZ Compare, we understand that Kiwis don’t have the time to spend hours comparing and switching to cheaper plans. So, we have designed our range of comparison platforms to enable comparing and switching within just minutes.
Compare broadband, power, and mobile plans, and other finances and insurances, all in the same place, side-by-side, so you can find the best deal. Our platforms are bias-free, hassle-free, free to use, and enable you to select your preferences so we can filter out, and present you with the best range of options available to you. This is how you can find the best value deal in minutes without compromising your needs. Why pay more, when you can find a better deal and save money?
2. Track Spending Habits
Take a couple of weeks to note your expenses and spending. Where does your money go – particularly your leisure spending money? Do you buy takeout coffee for work each morning? Consider bringing your coffee to work, or taking advantage of the work coffee machine. Avoid buying into social media trends. Remember, trends move rapidly and a product that is popular now, might not be in as little as a few weeks time. Resist the temptation, and consider putting the money you would have spent on that item into a high interest savings account.
3. Declutter Subscriptions
Decluttering your subscriptions can free up a significant amount of money. Cancel that gym membership that you don’t use. Reduce your streaming service subscriptions and consider only having one or two tops. You’ll save a lot of money just by subscribing to one platform, and especially if you choose the cheapest one.
4. Set Goals
Setting goals helps us feel like we are working towards something attainable when we are saving money, making it seem like there is a purpose and a reason behind our efforts. Set both short term goals, such as a TV or an overseas holiday, and long term goals such as a house deposit. Having a goal will keep you motivated and empower you to keep putting money into your savings each month. Be sure to reward yourself along the way to keep the experience positive and track your progress!
5. Compare Savings Accounts
There are different savings accounts on the market, and it’s important to take the time to compare them. But don’t worry, it doesn’t take much time – only a few minutes with Money Compare. Jump on our comparison platform to compare different savings accounts and find the right one for your unique needs and goals. As you contribute to the accounts, your bank will also add interest each month, depending on the interest rate. You can grow your funds rather quickly and with little effort! Don’t forget to set up automatic transfers each payday into your savings account.
