Money savvy resolutions to save you a bundle in 2018

Kelly Emmerton   |   16 Jan 2018

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If your main resolution for this year was to finally save up enough cash for that overseas holiday, new set of wheels or kitchen renovation, then we have some news for you. By committing to just one of our list of financially savvy resolutions, you can save hundreds - stick to all of them, and you could have almost $30,000 in your bank account by next Christmas.

“By making a few changes to your everyday routine - some as small as making your own coffee instead of buying it - you can save a big chunk of cash over 2018,” said Mozo Director Kirsty Lamont.

Perhaps unsurprisingly, quitting smoking was not only good for your health, but lead to the biggest savings for your wallet as well, with $12,848 up for grabs for those who commit to going cold turkey.

Banning booze for two nights a week also represented big savings of $4,160 for beer lovers and $3,640 for those who prefer wine, while taking leftovers for lunch instead of shelling out $10 for a takeaway could save you $2,400. Ditching a $4 coffee every morning could mean an extra $960 in your rainy day fund.

Resolving to pay off lingering credit card debt was another resolution set to save Aussies money, with room to save $443 in interest by switching the average debt of $4,200 onto a balance transfer card.

“By snagging a balance transfer offer with at least a 12 month interest free period and then paying off just $80 a week, cardholders could get their balance down to zero, and save over $400 on interest,” Lamont said.

Balance transfer credit card comparisons on Mozo - rates updated daily

  • Hot Deal 0% for 26 months

    Citi Platinum (Balance Transfer Offer)

    0% p.a. for 26 months and then 21.74% p.a. (2.50% balance transfer fee)

    20.99% p.a.

    $149 $49 in the first year

    0%p.a. for 26 months on balance transfers (one off 2.5% BT fee applies, reverts to cash advance rate). Also receive complimentary International Travel Insurance.

    • 0% p.a. for 26 months and then 21.74% p.a. (2.50% balance transfer fee)

    • $149 $49 in the first year

    • 20.99% p.a.

    • 55

    • 21.74% p.a.

    • 3.5%, min $3.50

    • Transfer points to a range of airline programs or redeem your points for travel, cashback, gift cards, retail rewards and shopping gift cards.

    Details Close

  • Apply By 30 September 2018

    Woolworths Everyday Platinum Credit Card

    0% p.a. for 14 months and then 21.99% p.a.

    19.99% p.a.

    $49 $0 in the first year

    10% off your 1st Woolworths shop on selected dates once a month. No annual fee for the first year.

    • 0% p.a. for 14 months and then 21.99% p.a.

    • $49 $0 in the first year

    • 19.99% p.a.

    • 55

    • 21.99% p.a.

    • 3%, minimum $5

    • Woolworths Money Shopping Card sent every 4 months if enough points have been accrued.

    Details Close

  • 28 Degrees Platinum Mastercard

    4.99% p.a. for 6 months and then 21.99% p.a.

    21.99% p.a.

    $0

    $0 overseas fees on purchases + Enjoy fast, premium quality Global Wi-Fi at more than 1 million hotspots worldwide

    • 4.99% p.a. for 6 months and then 21.99% p.a.

    • $0

    • 21.99% p.a.

    • 55

    • 21.99% p.a.

    • 3%, min $4

    Details Close

  • CUA Platinum Credit Card

    0% p.a. for 13 months and then 21.74% p.a.

    19.99% p.a.

    $149 $0 in the first year

    0% p.a. balance transfer, $0 annual fee for the first year and also receive 1 rewards point for every dollar spent

    • 0% p.a. for 13 months and then 21.74% p.a.

    • $149 $0 in the first year

    • 19.99% p.a.

    • 55

    • 21.74% p.a.

    • 2.00%, Min $3.50

    • Redeem your points for cashback, retail rewards, shopping gift cards and travel.

    Details Close

  • Apply By 02 September 2018

    Virgin Money Virgin Australia Velocity Flyer Card - Balance Transfer and Points Offer

    0% p.a. for 18 months and then 20.99% p.a.

    20.74% p.a.

    $129 $65 in the first year

    Earn 3 bonus Velocity Points on top of standard earn rates in first 3 months

    • 0% p.a. for 18 months and then 20.99% p.a.

    • $129 $65 in the first year

    • 20.74% p.a.

    • 44

    • 20.99% p.a.

    • 2.7%, Min $2.70

    • Points are credited to the Velocity Frequent Flyer program.

    Details Close

If you like a challenge, check out Mozo’s list of resolutions below and see how many you can stick to in 2018 - and how much cash you can save!

  • Quit smoking - quitting a pack-a-day habit at a cost of $32.50 per pack could save you $12,848

  • Pay off credit card debt - clearing the average credit card debt of $4,200 using a 12 month balance transfer deal could save you $443

  • Ban the booze - giving up beer two nights a week could save you $4,160, while wine lovers stand to pocket $3,640

  • Ditch the morning coffee - break the habit of grabbing a takeaway $4 coffee each day to save $960

  • Junk the junk food - between swapping a morning muffin for a muesli bar brought from home ($561), eating yummy leftovers instead of buying lunch ($2,400), replacing the afternoon choccy with an apple ($360) and swearing off takeaway for three nights a week ($3,120), you stand to save a whopping $6,481.

  • Exercise and socialise - instead of paying for a gym membership and catching up with friends over Sunday brunch, make going for a walk or a swim your social activity of choice and save $780

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