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 31 August 2021

    Kogan Money Black Card

    0% p.a. for 12 months and then 21.74% p.a.

    20.99% p.a.

    $0

    Kogan Money Black Card has no annual fee and no cap or expiry date on points. It comes with a 55 interest free days on purchases and a 0% balance transfer rate for the first 12 months. Earn up to $400 in Kogan.com Credit, $50 Credit on first eligible spend in 30 days and $350 Credit when you spend $1,500 on eligible purchases in 90 days from card approval.

    • 20.99% p.a.

    • -

    • 0% p.a. for 12 months and then 21.74% p.a.

    • 21.74% p.a.

    • 55

    • 3.40%

    • $0

    • $30.00

    • 3.50%, min $5.00

    Read our Mozo Review to learn more about the Black Card

    Details Close

  • Apply By 31 October 2021

    Bendigo Bank Low Rate Credit Card

    0% p.a. for 12 months and then 11.99% p.a. (2.00% balance transfer fee)

    0% p.a. for 12 months then 11.99% p.a.

    $45

    0% p.a. on purchases for 12 months (Reverts to 11.99% p.a). Also 0% balance transfer for 12 months. Low annual fee of $45 and no fees for additional cardholders.

    • 0% p.a. for 12 months then 11.99% p.a.

    • 0% p.a. for 12 months

    • 0% p.a. for 12 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

  • Apply By 30 November 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. New Cards only. Offer ends November 30th 2021. T&C's and exclusions apply.

    • 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

  • Apply By 30 November 2021

    St.George Vertigo

    0% p.a. for 30 months and then 21.49% p.a.

    13.99% p.a.

    $55 $0 in the first year

    0% p.a. for 30 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    • 13.99% p.a.

    • -

    • 0% p.a. for 30 months and then 21.49% p.a.

    • 21.49% p.a.

    • 55

    • 0.0

    • 3.00%

    • $55 $0 in the first year

    • $15.00

    • 2%, Min $2.50

    Read our Mozo Review to learn more about the Vertigo

    Details Close

  • St.George Amplify Rewards Platinum

    0% p.a. for 15 months and then 21.49% p.a. (1.00% balance transfer fee)

    19.74% p.a.

    $99

    80,000 bonus Amplify Points, worth up to $350 in eGift Cards (min $3,000 spend within 90 days. 0% p.a. for 15 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    • 19.74% p.a.

    • -

    • 0% p.a. for 15 months and then 21.49% p.a. (1.00% balance transfer fee)

    • 21.49% p.a.

    • 55

    • 3.00%

    • $99

    • $15.00

    • 2%, Min $2.50

    Read our Mozo Review to learn more about the Amplify Rewards Platinum

    Details Close

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