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How can I manage my cost-of-living expenses as a tenant?

November 7, 2022

Talk about a great question coming into the Silly Season. While the weekly rent you’re paying is a fixed cost for the term of your lease, there are ways that you can trim your grocery bills as well as your electricity, gas and water expenses and internet, phone, pay TV and streaming subscription charges if you’re moving. 

 Better still, if you’re time-poor, you can get help getting a good deal with Foxtel or your electricity provider by getting some help from the likes of Direct Connect, which can connect you fast and find decent deals into the bargain. Luckily, we’ve just launched a new landing page for our tenants that puts them in touch speedily with Direct Connect. 

Of course, you can compare energy suppliers yourself to ensure you’re getting the best deal. Use the Government’s Energy Made Easy website. 

Also, if you use air conditioning this summer to keep your rental property cool, be mindful of getting the settings right. According to a government source, setting the air conditioner to 23°C or higher is the ideal temperature. Each degree lower can add 10% to the cost of running it.

 Only cooling the rooms you’re using also saves cash. If your air conditioner has zoning, use it, and close the doors of the other rooms. Moreover, something as simple as closing windows and blinds before the air conditioning starts will keep the outside heat at bay. During the hottest part of the day, a window can absorb ten times as much heat as the same area of an insulated wall. Curtains and blinds can also minimise the amount of heat entering your home through windows.

But of course, Direct Connect also can’t help you trim your grocery bills. According to the Government’s Money Smart website, planning is one of the best ways to reduce your grocery bill. This means planning meals weekly (including lunches and snacks). Stick to your shopping list when at Coles, Woollies or Aldi, so you only buy what you need.

MoneySmart also recommends buying groceries when they’re on special – and looking for a cheaper home or own brands. Buy frozen vegetables as they’re nutritious and may cost less than fresh produce.

Also, coming into Christmas, it’s time to go seasonal – save by buying fruit such as cherries and vegetables in season. If possible, also consider buying in bulk. MoneySmart recommends purchasing staples such as rice, oats, and flour when marked down. Or buy bulk amounts with your neighbours or friends.