A penny saved.....

As the cost of living increases, it’s time to begin saving on the necessities of life, writes

Heightened inflation is a legacy that the global financial crisis has left in its wake, and people all over the world are reeling from its effects. The cost of living is constantly rising, forcing everyone to tighten their belts. Here in Australia we have grown so accustomed to an easy, comfortable life that this global phenomenon and more recently our own carbon tax resulting in inflated petrol prices, skyrocketing water and electricity rates, unaffordable housing and unpalatable fruit and vegetable prices, is hitting us pretty hard. The good news however, is that a few simple steps and changes can ensure we get back on top of things, make our dollars go a longer way and develop some good saving habits that will serve us well throughout our lives.

Saving on electricity

The recent electricity bills have been the bane of everyone’s existence and it is time to make some changes:

• Use electric blankets to warm up your bed in winter, rather than heating the whole room which takes up much more energy. Electric blankets cost a little more than duvets and use only a fraction of electricity compared to heaters.

• When using heaters or air conditioners, readjust the thermostat. For every degree you turn down on the heat during winter or turn it up for summer, you will save one to three percent on your total electricity bill.

• Turn off the lights when you leave the room.

• Replacing old incandescent light bulbs with energy saving fluorescent bulbs can save up to 75% on your annual lighting bill.

• Turn off appliances at the switch. Don’t forget to switch your computer and television off. A plasma TV on standby uses as much energy as your fridge.

Drying your clothes in the sun instead of using a clothes dryer can save hundreds of dollars on your electricity bill.

• Use the washing machine in offpeak times to take advantage of lower rates.

Saving on water

In the light of recent droughts, water is to be conserved anyway and a rapidly ascending water bill is just one more reason to be thrifty with water.

• Use rainwater tanks to collect water and save on your water bill.

• Wash dishes in a dishwasher,

FARZANA SHAKIR

Replacing old incandescent light bulbs with energy saving fluorescent bulbs can save up to 75% on your annual lighting bill.

as this appliance uses much less water than washing by hand. Scraping food off dishes rather than rinsing before putting them in dishwasher also conserves water.

• Take shorter five minute showers and use a low flowing shower head. This way you will use only about 45 litres of water compared to 140 litres for a fifteen minutes shower with a high flowing shower head.

• Wash your car less often as each wash uses up between 150-350 litres of water, and even using the carwash can sometimes help you save on water bills.

• Plant drought-resistant plants in the garden and mulch to save on watering cost.

• Turn off the tap between brushing and shaving.

• Invest in a water-efficient dishwasher and washing machine and you’ll be amazed at the difference in your water bill.

Saving on fuel

Low fuel prices now truly seem a thing of the past and we have all accepted the fact that high fuel prices are here to stay. However, these tips could help you save those extra dollars instead of spending them on fuel.

• Shop around for the best place to buy fuel and use your fuel vouchers from the shopping trips.

• Slowing down can save on petrol, as acceleration uses more fuel.

• Turn off the AC and roll down your car windows in pleasant weather.

• Set up a car pool. Sharing your car ride with just one friend can save the both of you hundreds of dollars.

• Check your air filter and tyre pressure regularly to keep your car fuel-efficient. Cut down on unnecessary loads in the car like roof racks and bull bars if you don’t need them; it will save on fuel.

• Avoid hard braking and flat footing to reduce fuel consumption by 30%, and don’t rest your left foot on the brake of an automatic car as the extra drag increases fuel consumption by 5%.

Saving on food

• The best way to save on your food bill is to reduce the number of times you eat out or better still, stop it altogether. Take a homemade lunch to work and make your own tea or coffee. This is not only healthier, but ends up saving you heaps.

• When grocery shopping, always check your receipts; you’ll be surprised how many times even computers stuff up.

• Buy in bulk and check the unit prices to get the best deals.

• Use your stores reward, loyalty or membership cards to save on special deals.

• Make a budget and stick to it. Set yourself a limit on money spent on food per day. Once you’ve reached that limit don’t spend more, no matter what.

• Revert to paying by cash. It is proven that people spend less when they pay in cash, rather than when using credit or debit cards.

• Buy store brands for basics like sugar, flour and salt etc. They are all just the same, but big brands cost more.

It is proven that people spend less when they pay in cash, rather than when using credit or debit cards.

PRofiCieNT Home LoANS

Buying home is a long term commitment – make sure you get the right rate of interest

PROFICIENT ACCOUNTING & TAXATION SERVICES

$45.00

We Specialise in

• Loan for first home buyers

• Refinancing existing loan

• debt consolidation

• Investment Loans

Why choose us

• free property report*

• Obligation free services

• Best rate of interest

• We can let you know how much you can borrow

• flexible – We can meet you as per your convenience

Available after hours and in weekends as well

• ABN Registrations

• Super withdrawals

• Business plans

• Book keeping Services

• BAS/GST Returns

• Business Takeover deals

• All other Tax Returns

• Incorporation of Companies

• Business Tax Advice

• Self Managed Super Funds (SMSF)

• Trust Accounting

• Internal Audit

*conditions apply

We are Reliable, Experienced, Friendly & Flexible Also available after hours & in weekends

Avinash (CPA) or Anand (CPA) mob: 0425 330 826, 0412 617 819 Ph: 02 9687 5373, fax: 02 8580 5124

3/154-156 Bridge Rd (Cnr of Bridge Rd & Byrne St) Westmead NSW 2145 15/30-34 Lydbrook St Wentworthville NSW 2145

Email: Avinash@profaccounting.com Website: www.profaccounting.com

Timings: Weekdays 8:30 am – 9:00 pm Weekends 8:30 am – 9:00 pm (Book appointment for convenience)