2009: how to save

While many people may still be nursing their heads after some serious seasonal partying, Nine MSN has offered up a few tips to help people avoid a nasty financial hangover from the money misery of 2008.

Chief among the suggestions was that if you need a credit card, it is essential that you shop around for the best deal to avoid being stung unnecessarily.

Indeed, the website noted that while there are a few more cheap credit cards on the market following the base rate cuts, home loans are far lower than plastic at the minute.

“Some credit cards offer honeymoon rates for transferring your debt balance over to them. This is worth considering but it’s important to try and shift this debt as quickly as possible,” advised Nine’s money expert Gillian Bullock.

Meanwhile, she also added that while Aussies will also benefit from the raft of new low-interest home loans on the market, it may be worth keeping up with pre-rate cut contributions to shave months or even years off the overall repayment time.

Elsewhere, the website suggests that prudent travellers may wish to hold off making a trip to the States in the coming months if they want to save some cash, as the Aussie dollar is putting in a particularly weak performance against the greenback.ADNFCR-1761-ID-18954117-ADNFCR