Manage the cost of living

Here are some quick ways to reduce your living costs. Having a money plan helps you stay on top of your spending and bills. There’s also free support and services to go to if you’re feeling overwhelmed.

If you’re in crisis and struggling to pay for essentials, there are services to help you with food, bills and housing. 

Easy ways to reduce living costs

Start small. Instead of trying to look at all your living costs at once, focus on one area at a time. This feels easier and gets you into the mindset to make more changes. You can do this.

For example, take note of your daily spending for a week. This can help you find quick ways to reduce your spending — at least for a while. See track your spending.

In many households, groceries and electricity bills are where rising costs bite the most. For ways to reduce these and other costs.

Smooth out your big bills

Some services, like electricity, council rates or insurance, offer ‘bill smoothing’. This is where you pay bills in smaller amounts, instead of paying the whole amount in one go.

Ask your service providers if you can pay fortnightly or monthly, to avoid the shock of a large bill.

If you get a Centrelink payment from Services Australia, you can use their free Centrepay service to do this.

For utility vouchers, rebates and tips on how to deal with different bills, see problems paying your bills and fines.

Prioritise your rent or mortgage payments

When you’re looking at payments, make your rent or mortgage a top priority.

If you’re struggling to pay your rent, see rent steps to take on the National Debt Helpline website.

Talk to your lender straight away if you’re having problems paying your mortgage. The earlier you get help, the more options you have.

Make a money plan

Take charge of where your money goes day-to-day by doing a budget. This lets you look at needs and wants, and prioritise what matters most.

Even if you can only save a little, start saving for an emergency fund. This helps you cope better with big bills, and look after you or your family when needed.

Avoid borrowing to pay off another loan, buy now pay later or credit card. Get help if you’re having trouble with money.

Get help if you need it

If you’re not sure where to start, there is free help available.

Financial counselling

Speak to us if you need any help with managing your day-to-day finances.

Emotional support

Call Beyond Blue on 1300 224 636, 24 hours a day. Or live chat 24 hours a day.

Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at

Important note: This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.  Past performance is not a reliable guide to future returns.

Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author. Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

Share this post