If you’ve already checked out my first two posts on budgeting and saving more during tough times, you’re already making great steps towards improving your finances. Now, let’s level up and look at another powerful way to save: reducing your fixed costs.
Fixed costs are the bills you have to pay—like rent, phone, internet, and insurance. While they’re not as flexible as your weekend brunch budget, there are still ways to bring them down without totally flipping your lifestyle upside down. Here are five ways to start:
1. Renegotiate your bills
Don’t be afraid to shop around or call your current providers (yes, even your internet or phone company). Ask if they can offer you a better deal—many will just to keep you around. You can also check sites like Finder or WhistleOut to compare and switch.
2. Consider a cheaper phone plan
Are you paying for unlimited data but mostly using Wi-Fi? Or signed up to a pricey plan years ago? Prepaid and SIM-only plans can cost way less, with no contract to lock you in. Companies like Boost or Amaysim often have great deals.
3. Review your insurance
Whether it’s health, car, or contents insurance—review your policy once a year. You might find you’re over-insured or paying for extras you don’t need. Use comparison tools to see if another provider offers a better value.
4. Flatmates or solo? Think about your housing
Rent is usually the biggest fixed cost. If you’re living solo but struggling, maybe consider moving in with housemates or into a smaller place (just for now!). Even saving $50–100 a week adds up big time.
5. Unbundle and downgrade where you can
Bundling might seem cheaper, but sometimes it locks you into stuff you don’t need. Do you really need Foxtel and every streaming service? Cut what you don’t watch or downgrade to basic tiers—it can save you $20–50 a month easily.
The trick is to be curious and open-minded—most of these changes take just a bit of research or a quick phone call. And once they’re done, the savings keep coming every month without extra effort.
If you’re just starting out, don’t stress about doing it all at once. Even changing one thing is a win. And if you missed them, my first two posts are full of helpful tips:
👉 5 Easy Budgeting Tips for Young Aussies
👉 5 Ways to Save More When the Economy’s Tough
~ N’s Money Corner
I’m on this journey with you, figuring it all out one step at a time. Want to know more about me and what inspired this blog? Head over to my About Me page. Let’s keep learning and growing together 💜
