Unlock savings: top tips to become an informed consumer

14 August 2024

The cost of living is hitting many consumers hard. Follow these tips to help your household and save money along the way.

When you shop, think carefully before you buy

  • Don’t be rushed to buy.
  • Budget and spend sensibly.
  • Shop around.
  • Read terms and conditions and keep the paperwork.
  • Look after your receipts.
  • Be aware of your rights and responsibilities, particularly around consumer guarantees and know when you’re entitled to a refund, repair or replacement.
  • 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 your rights as a consumer.

Use unit pricing to make your dollar go further at the checkout

Next time you’re grocery shopping use unit pricing to compare prices and find the best value for money.

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 on the Australian Competition and Consumer Commission website.

Don’t get caught in a subscription trap

Before you sign up to a subscription service:

  • read and understand the terms and conditions
  • be aware of any ongoing fees
  • check what the cancellation process will be.

Learn about online dark patterns and how they can be used to trick you into spending more and giving away your data.

Ease the strain on your wallet by fuelling up smarter

Feeling the pinch at the pump? Doing a little research before you fill up at the service station might help save you money.

While a lot of factors can influence the price you pay for fuel, fuel apps and websites can help you find the best deals in your area and keep your costs down.

Check out the MyFuel NT web app. It lists all the current fuel prices in the Northern Territory. Fuel up at the outlets that offer the lowest pricing. This encourages competition in the local fuel market.

Be aware of different types of scams

When money is tight you might be looking for extra income to help ease cost of living pressures. Beware of employment scams:

  • Don’t trust a job ad to be real just because it appears on a trusted platform or website - scammers can post fake ads too.
  • Never send money or personal information to anyone you have only met online, through email or over the phone.
  • Don’t be pressured to act quickly. A legitimate offer won’t require you to make a fast decision. If the offer sounds too good to be true, it probably is!

Always stop, think and check before you act.

Learn ways to spot and avoid scams at Scamwatch.

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.

Access support

If you are struggling with debt, it’s important that you don’t ignore it. Free confidential financial counselling services are available through the National Debt Helpline website or by phone 1800 007 007.