Top consumer tips to beat cost of living pressures

With ongoing cost of living pressures impacting household budgets, we’ve come up with some tips to help you become an informed and savvy consumer and to save some money along the way.

Know when you’re entitled to a refund, repair or replacement

Refunds aren’t always an automatic right.

Businesses don’t have to give you a refund if you change your mind, buy the wrong size or buy the wrong colour. Some businesses still offer refunds in these situations. This is their choice to provide good customer service, and not a legal requirement. Always check the store’s returns policy.

You are entitled to a refund, repair or replacement if a consumer guarantee is not met. The remedy you’re entitled to will depend on whether the issue is major or minor.

If something goes wrong with a purchase, talk to the business and describe the problem and explain how you would like them to fix it.

Learn more about consumer guarantees on our website here .

Use unit pricing when grocery shopping

Everyone loves a great deal and we’re all trying to make our dollars stretch further at the checkout. One way to help you budget and save money while grocery shopping, is using unit pricing. Unit pricing at grocery stores shows not just the cost of a product, but what the value of that product is as a cost per standard unit of measurement. This is usually displayed on shelf labels.

Unit pricing allows you to compare the cost of grocery products quickly and accurately, for example between brands, specials, and package sizes, between packaged and unpackaged, or fresh and frozen.

Learn more about unit pricing.

Review your memberships and subscription services

Whether it’s a gym membership, newspaper subscription, streaming service or food delivery service you’re signed up to, it pays to review your memberships regularly. These small monthly costs can soon add up.

Don’t pay for services you don’t use – look through your bank statements and review what you’re paying for. Cancel subscriptions or memberships that you’re not using or not getting value from.

Review your bills and consider switching providers

When it comes to paying utilities or renewing annual insurances beware of paying a ‘loyalty or lazy tax’.  Shopping around for insurance and utilities is one of the best ways to ensure that you're getting the best deal, premium or policy based on your circumstances.

Using comparison websites can be helpful but they have limitations and may not cover all your options. ASIC’s Moneysmart website has tips on using comparison websites.

If you’re finding it hard to keep up with regular payments like gas, electricity and phone visit ASIC’s Moneysmart website for steps you can take to sort things out.

Do some research before filling up

While a lot of factors can influence the price you pay for fuel, a quick look at a petrol price app or website before you fill up will inform you of fuel prices in your area so that you can compare and save.

Check out Northern Territory fuel pricing on the FREE MyFuel NT web app here.

Visit ASIC’s Moneysmart website

ASIC’s Moneysmart website contains tips, tools and resources to help you manage your money, reduce your debt and plan for your future. It also has information on budgeting, reducing living costs and getting help if you need it.

If you’re feeling overwhelmed by your situation you don’t have to go through it alone. Speak to a financial counsellor. Financial counsellors are skilled professionals. They will listen to your money issues and help you get back on track. You can find a financial counsellor in your area using the Financial Counsellors Map on Moneysmart.

People can also call the National Debt Helpline on 1800 007 007. The free National Debt Helpline is open from 9.30am to 4.30pm, Monday to Friday. When you call, you'll be transferred to the service in your state.

Visit Scamwatch and learn how to spot a scam

Scams come in many forms and people can be more susceptible to scams during financially strained times.

Protect yourself from scams:

• STOP – Don’t’ give money or personal information to anyone if unsure
• THINK – Ask yourself could the message or call be fake?
• PROTECT – Act quickly if something feels wrong

Learn ways to spot and avoid scams at Scamwatch.

Access support

Do you know what concessions, rebates and other supports are available? See what’s available and who is eligible here .

If you require emergency support or financial assistance, find contact details for a range of support services on the Australian Government website.