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Looking for savings in all the wrong places? Time to turn over the cushions

 

Remember the sheer delight as a kid when you discovered gold coins or valuables that had fallen between couch cushions or under furniture?

The thrill doesn’t die does it?

In a cashless worldd, those moments are getting rarer but the days when you do find the odd fiver in a jacket pocket, it resurrects that familiar buzz.

Imagine the thrill of the couple who fished out a safe from the bottom of a lake last week using magnets and discovered $100,000 inside. See Washington Post story here for those exciting details.

I’m not one to go beach combing for rings but I do love a good treasure hunt.

Whether it’s $10, or $100, the realised savings are always a joy.

Here are a few examples:

Last month, after not hanging up on a persistent sales guy from Mercury, I decided to change internet providers. I’m a sceptical cat at the best of times, but after doing some DD on the purported savings, I made the switch. It wasn’t without a bit of fuss and hassle. Comparing internet speeds and data limits doesn’t thrill me, but the prospect of saving $545 did and the change over seamless, too.

These are competitive times, and I’d already saved $35 or a few months back when we told our existing provider we’d been offered a cheaper deal, which they then matched. As we don’t have any gamers in the house, and the streaming teens all moved out, we were paying for more than we needed and was put onto a cheaper plan.

My recent savings are more than I’ll get from the Government when KiwiSaver contributions get paid out  so something to celebrate.

On that note, If you haven’t already paid $1,043 for the KiwiSaver year, ensure you don’t miss out. As long as you have paid $1,043 between July 1 2023 and June 30 2024, you’re over 18 and have been invested for more than a year, Gov’t will give you $521.

That’s another gift, so don’t miss out.

What else?

Oh, I also turned up another hundred bucks submitting more charitable tax claims I’d forgotten about until Givealittle reminded me for this year and others I forgot about.  See blog on how to claim through MyIR here.

I don’t doubt that if I spent a day doing more cost comparisons on power, mobile plans, car insurance, internet, or petrol stations, I would find more golden coins under the digital couch.

Where you invest your time, there’s a payoff usually.

When considering switching providers or services for things you need or rely on, it is essential to read the fine print.

Fortunately, sites like MoneyHub make this easier and faster than ever. Whether it’s KiwiSaver providers comparisons or credit cards, the site is a one-stop financial hub.

I wouldn’t recommend switching power companies as often as you do laundry because you will probably get snared by a fishhook that could see you worse off. Break fees are annoying as much as they are punitive. Again, reading and understanding the T&Cs is crucial.

Little victories in personal finance lead to bigger ones down the road because it becomes a confidence game. Once you’ve discovered the thrill of saving money, you’re hooked and the stakes will naturally increase too; paying off debt faster, finding a better mortgage deal, negotiating a better salary, or getting discounts and deals on hotels.

Seek, and you shall find.

 

 

 

 

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