Manage the cost of living

Here are some quick ways to reduce your living costs. Having a money plan helps you stay on top of your spending and bills. There’s also free support and services to go to if you’re feeling overwhelmed.

If you’re in crisis and struggling to pay for essentials, there are services to help you with food, bills and housing. 

Manage the cost of living

Easy ways to reduce living costs

Start small. Instead of trying to look at all your living costs at once, focus on one area at a time. This feels easier and gets you into the mindset to make more changes. You can do this.

For example, take note of your daily spending for a week. This can help you find quick ways to reduce your spending — at least for a while. See track your spending.

In many households, groceries and electricity bills are where rising costs bite the most. For ways to reduce these and other costs.

Smooth out your big bills

Some services, like electricity, council rates or insurance, offer ‘bill smoothing’. This is where you pay bills in smaller amounts, instead of paying the whole amount in one go.

Ask your service providers if you can pay fortnightly or monthly, to avoid the shock of a large bill.

If you get a Centrelink payment from Services Australia, you can use their free Centrepay service to do this.

For utility vouchers, rebates and tips on how to deal with different bills, see problems paying your bills and fines.

Prioritise your rent or mortgage payments

When you’re looking at payments, make your rent or mortgage a top priority.

If you’re struggling to pay your rent, see rent steps to take on the National Debt Helpline website.

Talk to your lender straight away if you’re having problems paying your mortgage. The earlier you get help, the more options you have.

Make a money plan

Take charge of where your money goes day-to-day by doing a budget. This lets you look at needs and wants, and prioritise what matters most.

Even if you can only save a little, start saving for an emergency fund. This helps you cope better with big bills, and look after you or your family when needed.

Avoid borrowing to pay off another loan, buy now pay later or credit card. Get help if you’re having trouble with money.

Get help if you need it

If you’re not sure where to start, there is free help available.

Financial counselling

Speak to us if you need any help with managing your day-to-day finances.

Emotional support

Call Beyond Blue on 1300 224 636, 24 hours a day. Or live chat 24 hours a day.

Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at

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Authorised Representative 298494
Interprac Financial Planning Pty Ltd 

Darryl Jopling

Senior Adviser

I have worked in the financial services industry since 1982 and as a Financial Adviser since 1999.

I have worked for large Financial Planning businesses, Membership based organisations and looked after the financial planning needs of clients within an Accounting Practice before starting my own business.

I am married, have 4 older children and a grandson and I am keen golfer with mixed results like many .

I have been through many of the strategies I talk with clients about myself and with my family.

I have been through the journey of seeing my parents move into Aged care and negotiated the difficulties and pitfalls of understanding the system for them and this gives me an excellent insight into what is required to assist families at this difficult time.

In a previous roll I used to run retirement seminars looking at Centrelink and Retirement Incomes and how to make these work for you. I have helped many of my clients with Aged Care advice when their parents needed to move into Nursing Homes. For many clients I assist them with superannuation, building wealth and protecting their loved ones with insurance.

I am supported by his, Licensee, Interprac Financial Planning’s in-house resources and ongoing technical, systems and training.

I am committed to understanding your needs and identifying strategies and products to help you achieve your goals.

My guiding principle as an Adviser is to design plans which help to provide my clients with clarity of purpose and the opportunity to build a solid financial foundation.
I will take the time to listen, explain things clearly and keep you informed throughout the advice process.

My experience is complemented by professional qualifications including:

  • Certified Financial PlannerTM Professional
  • Diploma of Financial Planning

At Choice Financial Advice we work with you along the way on life’s journey.

Whether you are getting married, starting a family, embarking on the trip of a lifetime, planning to enjoy your years after work or assisting elderly parents with Aged Care and Nursing Home placements, we can help.