Hole in your pocket? The totally avoidable money-wasters costing you $5,000 each year

Kelly Emmerton

17 Oct 2017

Money wasters content

You might think your little vices, like cigarettes, a punt on the pokies or forgetting that you have a gift card at the bottom of your purse don’t add up to much in the end - but you’re wrong.

Mozo research has found that Aussies are shelling out an incredible $5,000 every year on avoidable spending habits, including things like cigarettes ($1,217 bill per year), food waste ($950 per year) and household energy waste ($511 per year).

“The silver lining is that these money-wasters are largely things you can control, which means you have the power to turn $5,000 of wasted money into $5,000 of savings,” said Mozo Director Kirsty Lamont.

“Changing a few of your bad spending habits can mean saving thousands of extra dollars, so it’s well worth the effort.”

One of the habits costing Aussies big time is letting bank charges pile up. Between credit card interest, bank fees and ATM charges, $1,200 a year is drained out of the average household budget - a whopping $10.4 billion in total.

“With our credit cards about to get another workout over the festive season, now is the perfect time to work on reducing your credit card debt and the interest you're paying. Transfer your debt to a 0% balance transfer card and work on clearing your card balance as quickly as possible. The quicker you can get on top of things, the better it will be for your wallet,” said Lamont.

Ready to stop wasting your hard-earned on credit card interest? Check out some of the top balance transfer credit cards below.

Blast debt with a top 0% balance transfer deal

Rates updated daily. Advertiser disclosure.

  • Apply By 29 July 2021

    Citi Rewards - Bonus Points Offer

    0% p.a. for 15 months and then 22.24% p.a.

    21.49% p.a.

    $149 $49 in the first year

    Reward yourself with up to 90,000 bonus points! By spending $3,000 within 90 days of card approval. Plus $100 Coles eGift card available (conditions apply)

    • 21.49% p.a.

    • -

    • 0% p.a. for 15 months and then 22.24% p.a.

    • 22.24% p.a.

    • 55

    • 49.0

    • 3.40%

    • $149 $49 in the first year

    • $30.00

    • 3.5%, min $3.50

    Read our Mozo Review to learn more about the Rewards - Bonus Points Offer

    Details Close

  • Apply By 01 August 2021

    Bendigo Bank Low Rate Credit Card

    0% p.a. for 24 months and then 11.99% p.a. (2.00% balance transfer fee)

    11.99% p.a.

    $45

    0% p.a. balance transfer for 24 months (Reverts to 11.99% p.a). Low annual fee of $45 and no fees for additional cardholders.

    • 11.99% p.a.

    • -

    • 0% p.a. for 24 months and then 11.99% p.a. (2.00% balance transfer fee)

    • 13.99% p.a.

    • 55

    • 3.00%

    • $45

    • $15.00

    • 0.50%, Min $3.25

    Read our Mozo Review to learn more about the Low Rate Credit Card

    Details Close

  • St.George Vertigo

    0% p.a. for 28 months and then 21.49% p.a.

    13.99% p.a.

    $55

    0% p.a. for 28 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. New cards only, Eligibility criteria and T&Cs apply. Offer ends September 28th 2021.

    • 13.99% p.a.

    • -

    • 0% p.a. for 28 months and then 21.49% p.a.

    • 21.49% p.a.

    • 55

    • 3.00%

    • $55

    • $15.00

    • 2%, Min $2.50

    Read our Mozo Review to learn more about the Vertigo

    Details Close

  • Bankwest Breeze Mastercard

    0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

    10.99% p.a.

    $49 $0 in the first year

    Enjoy 0% p.a on balance transfers for 26 months (2% BT fee applies) then 10.99% thereafter. No annual fee for the first year. Limited time only. Other fees, T&Cs apply. New Mastercard Breeze customers only.

    • 10.99% p.a.

    • -

    • 0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

    • 21.99% p.a.

    • 55

    • 0.0

    • 2.95%

    • $49 $0 in the first year

    • $25.00

    • 2%, Min $4.00

    Read our Mozo Review to learn more about the Breeze Mastercard

    Details Close

  • Apply By 07 September 2021

    Westpac Low Rate

    0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)

    13.74% p.a.

    $59 $0 in the first year

    Enjoy a super low rate of 13.74% with 55 days interest free plus 0% balance transfer for up to 28 months at 1% BT fee. No annual card fee for the first year, $59 thereafter.

    • 13.74% p.a.

    • -

    • 0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)

    • 21.49% p.a.

    • 55

    • 0.0

    • 3.00%

    • $59 $0 in the first year

    • $15.00

    • 2%, Min $2.50, Max $150

    Read our Mozo Review to learn more about the Low Rate

    Details Close

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