Savings Tips
Ways to Save More
It also pays to spend a bit of time doing some research on your household's larger expenses. Following are just a few ways that may help you save.
Bank accounts
There are differences between bank accounts and it can be important to look at what will suit your needs best.
- What fees and charges are you paying? Compare that with what else is on the market. For more information on the types of fees some banks charge, refer to our "Types of Fees & Charges" section.
- Work out ways to reduce fees or get rid of them completely. Some banks waive fees in certain circumstances. At ING DIRECT, we don't charge fees on our savings accounts
- Check out the interest rates and how often interest is paid - is it compounding?
Mortgages
Are you getting the best from your home loan? It's worth doing a check on your current home loan to see what else is in the market. Things that you might like to consider are:
- Do you have a fixed or variable interest rate? Is this still the right type of loan for your lifestyle?
- Are you getting a good interest rate? Compare our interest rates.
- What features and benefits does your loan offer? Do you use them or are you paying a higher interest rate to get benefits you don't use?
- Are you being charged unnecessary monthly or annual service fees?
- Can you make additional lump sum repayments and have the flexibility to access these funds when you need them at no cost?
Whether you're looking to move home, borrow more for renovations or simply looking for a better deal, give us a call to see if we can help you.
- To find out more or to apply, simply speak to one of our Mortgage Specialists on 1800 100 258 from 8am to 8pm, Monday to Saturday; or call your Mortgage Broker; or go to our Home Loans section.
Insurance
Take a look at the multitude of insurance policies you hold - you can make some significant savings with just a few small changes to your home, car, mortgage protection or landlord insurance. And remember to check the policy benefits - not all insurance policies are the same.
- Some insurers charge more for the convenience of paying monthly - check if you're paying extra.
- See what savings you can get on your insurance premiums by varying your excess levels - the bigger the excess, the bigger the savings.
- When you buy online, you usually receive a discount on your premium.
Find out the savings you can make with ING.
Phone / internet service providers
Like a lot of people, you may have a landline, mobile, broadband internet connection and pay TV subscription.
- Look at your current plan and usage patterns. Is there a better deal?
- Check out your usage costs and if you're on a plan, see if you can reduce costs for not using the full amount of calls each month.
- Look at bundling the services with a provider - it can often save you money (and the hassle of multiple bills from different providers).
Credit cards
Credit cards are a way of life for most of us and at various times it may cost us money for the convenience. But, if you look around, there are some credit cards that can work better for you.
- Compare the features and costs of your credit card with others in the market.
- Consider the various options, including the higher fee options for an interest-free period.
- Are you using your card effectively? Could you pay it off at the end of each month?
- Is there a more economical card that's better suited to you?
- Is there a better interest rate if you go past the interest free timeframe?
Cars
Cars can be an essential part of everyday life, but they can also be a costly weekly expense.
- Petrol can be cheaper on particular days of the week. Check out your petrol station prices during the week and find out which day is best.
- You might have particular places you go on a regular basis. Check out if there cheaper petrol stations in places outside your local area.
- You may also save money by using shopper dockets that many of the major supermarket chains are offering (note: minimum purchase restrictions apply).
- With high petrol prices and rising environmental concerns, when you are buying your next car, it may be time to switch to a more cost-effective and/or 'greener' car.
- Make sure you get your car serviced regularly. This can help to keep it running more efficiently and safely.
- Any advice on this website does not take into account your objectives, financial situation or needs and is or may be based upon incomplete or inaccurate information that relates to your relevant personal circumstances. Because of that you should, before acting on the advice, consider whether it is appropriate to you having regard to your objectives, financial situation and needs.
ING DIRECT is a division of ING Bank (Australia) Limited ABN 24 000 893 292. ING Bank (Australia) Limited has been granted an Australian Financial Service Licence 229823 and through the ING DIRECT division, is responsible for the advice provided on this website.