Buy in bulk to save money, says expert

Mozo

Friday 10 September 2010

Australian households looking to tighten their belts should buy in bulk and carefully budget for all spending, an expert has said.

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Maroochydore financial planner Michael Goodwin argued that families could even club together with their neighbours to reduce everyday costs.

"If you all get together and buy in bulk items like groceries, there are savings to be made," he told the Sunshine Coast Daily.

Mr Goodwin also urged debt-burdened households to freeze their credit card to prevent further use.

"It is better to have debt on your home loan than on your credit card," he said.

Meanwhile, the newspaper claimed that Aussies could secure big savings by simply asking utility providers for discounts and letting them compete against each other.

It said it had played off AGL with Lumo and helped to negotiate a 12 per cent saving on a bill "simply by asking for more".

The need to lower costs and reduce debts has also seen more Australians compare debit cards in search of the best providers. According to a recently released study by Choice, many cheaper, store-branded groceries are just as healthy and taste just as good as the more expensive labels.

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