The unexpected hobby that could help with your cost of living woes

With the cost of living continuing to add stress to the daily lives of everyday Aussie families, we’re all looking for ways to save money wherever we can. We’ve looked at ways to save on a budget and ways to earn extra money, but there’s an easy hack that could help you save on your day-to-day expenses: entering competitions.

Before you roll your eyes and scoff at how competitions couldn’t possibly do anything when it comes to saving money, consider some of the prizes commonly on offer in Australia. At any given time, you can win everything from money, holidays, home renovations, appliances, movie tickets, mobile phones, furniture, and cars. 

Whether these prizes are for life-changing prizes, like a new home, or minor expenses, like movie tickets, anything that keeps cash in your pocket is a help. Especially now, as families are looking for every possible way to cut back on expenses, adding in some free fun is always welcome!

“I never win anything,” you sigh, and start to abandon hope. Just you wait – it’s much easier than you think. Here are our top 5 tips from a lifetime lover of competitions:

1. You have to be in it to win it 
   If you’re scrolling past a competition thinking “I’m never going to win that,” then you aren’t going to win it. Remember that everyone else is thinking the same thing, so by just entering you’re already a step ahead.
2. The more difficult it is to enter, the more likely you are to win
   If all you need to do to enter a competition is enter your email address or tag someone in an Instagram comment, everyone else has seen just how easy that is. The more annoying it is to enter a competition, whether that means composing an answer in 25-words-or-less or finding a code word on a television show, the smaller the pool of entrants will be. The same goes for competitions that require a purchase or are skill-based, like prizes for reviewing a product you’ve purchased from a specific company, or photography competitions.
3. Create a dedicated email for competitions
   If you’re getting serious about entering competitions, you’ll likely end up signing up to a lot of mailing lists. You can’t use a fake email, because you’ll never know if you win, but you can create an account or address specifically for competitions and mailing lists.
4. Find unique places to enter competitions
   The big prize draws from major radio stations and television channels are going to have far bigger pools of entrants than niche competitions you find on your favourite Instagram account or a movie review blog you follow. Follow the newsletters of your favourite brands, shops, and web pages to find unusual places to enter that might be missed by the average online competition aggregating website.
5. Read the terms and conditions
   We’re always telling you to read the Product Disclosure Statement of financial products, and it’s much the same with the terms and conditions of a competition. Here’s where you’ll learn exactly how the competition is being judged – sweepstakes or game of skill – and can make sure you’re eligible for entry. You might find out that living in a certain state excludes you from entering, or that you can’t enter a competition if you’ve won a prize from that outlet in the last month.

Looking to try your hand? We are currently running our Rate and Review Competition, where you can review your bank or insurance provider for a chance to win one major prize of a $1,000 Prezzee eGift card or one of 5 runner up $100 Prezzee eGift cards. 

At the same time, you get a chance to help out your fellow Aussies with an honest review of your provider. Just steer clear of personal attacks and naughty language!

Need somewhere to store the money you’re planning on saving? Check out the savings accounts below, or see some of our picks for Best Savings Accounts.