'Compare debit cards to save cash this year'

Aussie consumers have been advised to ditch credit cards and compare debit cards in a bid to save cash this year.

Setting out ten tips for saving money in 2011, the Smart Money section of The Queensland Sunday Mail recommends switching to fee-free and interest-free VISA and MasterCard debit cards which, it says, are "enormously popular" with millions of debt-conscious shoppers.

Where consumers want or need to hang on to a credit card, meanwhile, the section suggests switching to "a lower cost or lower feature product".

Elsewhere, it recommended setting up a fee-free transaction account and quoted Mozo chief executive Rohan Gamble, who named the NAB Classic Banking account as his pick for a fee-free full access transaction account.

"It is great for people who want both branch and electronic banking access, and fee-free banking without the hassle of meeting certain account conditions," commented Mr Gamble.

Setting up a savings plan, tackling home loan debt and making voluntary super investments were among the other Smart Money tips.

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