It’s clear from last night’s Budget that middle-income Australian families are going to feel the brunt of bringing the budget back to surplus.
With families already feeling the pinch on their household budgets from April’s 6.2% average increase in health insurance premiums, as well as news that energy prices are set to soar across the country from 1 July, price comparison site comparethemarket.com.au is urging Australians to be proactive and reassess their household costs to see if they could find savings to beat the Budget.
“The intense Budget speculation has given people a real incentive to take note of their household spending. Too many of us are guilty of choosing the easy option – we know there’s probably a better deal out there but just haven’t found time to search for it. Free comparison sites can help in finding a better deal, and enable people to quickly and easily compare the products and services they rely on in their everyday lives,” said comparethemarket.com.au spokesperson Grant Waldeck.
Comparethemarket.com.au has spoken with a typical family to see how they think the Budget changes could impact them and what they’ve done to better manage their household costs.
Queensland-based Elaine Hurst is married with three kids under the age of seven.
- “$7 co-payments for GP visits? I’ve got three kids and I’m unwell myself. It’s totally unjust.”
- “I watch every dollar that goes in and out of this house as I need to keep on top of our spending. We’ve cut back on luxuries and don’t go to restaurants anymore.”
- “As a busy mum of three, I rely on comparison sites to help me shop around for the best deal as I don’t have time to do the research myself. Through comparethemarket.com.au, we’ve made some significant annual savings.”
|Elaine’s savings with comparethemarket.com.au|
|Product / service||Savings||Elaine’s comments|
|Private health insurance||$1700 p/a|
|Car insurance||$550 p/a|
|Home & Contents insurance||$500 p/a|
|Energy bills||$350 credit per quarter(our bills used to be $700 per quarter)|
|TOTAL SAVINGS [per year]||$3000 approx|
“My advice to other families is to start using comparison sites. By comparing you can save money and time. It’s freed up our life. By shopping around our family has saved over $3000 a year. That’s our school fees and uniforms paid for alone. It’s a much better way of living for us, especially as we’re a one-income household,” said Elaine.
“We encourage Australians to follow Elaine’s example and jump online to comparethemarket.com.au to see if they could beat the Budget cuts by shopping around for a better deal for them,” said Grant.