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Cost Audit & Quick Wins

WHERE YOUR MONEY
IS LEAKING

Current Australian market benchmarks across the categories where people overpay most. Every section is tracked — we use that data to build what matters.

⚡ Quick Wins

Under 15 Minutes Each

Do these first. They work reliably, require no expertise, and most people never bother.

📱
⚡ 10 minutes
Switch to an MVNO mobile plan
Woolworths Mobile, Boost, and Aldi Mobile run on Telstra/Optus towers. Most Australians pay $30–60 more per month than they need to for identical coverage.
$480per year
🌐
⚡ 8 minutes
Call your internet provider — ask for a retention deal
Say: "I've been a customer for X years and I'm looking at switching to [competitor]. Can you match their price?" Works roughly 60% of the time.
$240per year
⚡
⚡ 10 minutes
Run a free Energy Made Easy comparison
The government's own comparison tool. No sales pressure, no upselling. Most households on standing offers overpay by $300–600/year.
$450per year
📺
⚡ 5 minutes
Cancel one streaming service you barely use
The average Australian household pays for 3.2 streaming services. Check your bank statement — you may have one you've forgotten about entirely.
$180per year
🏦
⚡ 5 minutes
Eliminate bank account fees
ING, Up, and HSBC all offer zero-fee everyday accounts. Monthly account fees of $5–10 are money you're paying for nothing.
$120per year
📊 Cost Audit

How You Compare

Current Australian market benchmarks. Updated quarterly. Find out where you're overpaying.

⚡
High Impact
Electricity & Gas
Most Australians default to standing offers — the most expensive tariff available. Switching to a market offer is the single fastest energy saving.
Best market offer (avg)$1,400–$1,700/yr
Standing offer (default)$2,000–$2,400/yr
Solar + battery households$600–$900/yr
Potential annual saving$300–$700
Compare on Energy Made Easy →→
📱
High Impact
Mobile Phone Plan
Telstra and Optus premiums are largely a marketing exercise. MVNOs use the same towers for a fraction of the price.
MVNO (Boost/Woolworths/Aldi)$10–$25/mo
Mid-tier Optus/Telstra$45–$65/mo
Premium plan (unnecessary for most)$80–$120/mo
Potential annual saving$240–$720
Compare plans on WhistleOut →→
🏥
High Impact
Health Insurance
Two traps: staying on a policy you've outgrown, or paying for cover you'll never use. The right policy for your life stage can save hundreds.
Singles basic hospital$90–$130/mo
Singles mid-tier$150–$200/mo
Family comprehensive$350–$550/mo
Potential annual saving$200–$800
Compare on iSelect →→
🌐
Medium Impact
Home Broadband
NBN pricing is competitive if you're willing to move. Most providers offer new customer deals existing customers never see.
Budget NBN 50 (Aussie BB / Leaptel)$55–$65/mo
Mid-tier NBN 100$75–$90/mo
Telstra/Optus bundled$95–$130/mo
Potential annual saving$240–$480
Compare on WhistleOut →→
🏠
Medium Impact
Home & Contents Insurance
Insurers increase premiums at renewal counting on inertia. Loyal customers consistently pay more than new ones.
Competitive (contents only)$600–$900/yr
Home + contents (mid-range)$1,200–$2,000/yr
Loyalty penalty (est.)+15–30% above market
Potential annual saving$200–$600
Compare on Compare the Market →→
🚗
Easy Win
Car Insurance
Same loyalty penalty as home insurance. Budget Direct and Youi consistently undercut the big names. Check whether you need comprehensive vs third party.
Third party fire & theft$350–$500/yr
Comprehensive (competitive)$900–$1,400/yr
Comprehensive (loyal customer)$1,300–$2,000/yr
Potential annual saving$150–$500
Compare on iSelect →→
🔍 Deeper Dive

Bigger Levers, More Effort

These take more time but carry the largest long-term impact. Step-by-step guidance included.

🏦
Mortgage Rate Review
Potentially $2,000–$6,000/year. The biggest lever most Australians have.
High reward
▼
1
Find your current rate. Check your loan statements or internet banking. Look for the comparison rate, not just the headline rate.
2
Benchmark against the cash rate. Current RBA cash rate is 4.35%. Your mortgage should be roughly 2–2.5% above this. If it's 3%+ above, you're likely overpaying.
3
Get a broker comparison. A mortgage broker is free to use — paid by the lender. A good broker shows you 10–15 options in one conversation.
4
Call your current lender first. Armed with a competitor quote, call the retention team. They often match or beat competitor rates without you needing to refinance.
5
Factor refinancing costs. Discharge fees ($150–$400), new loan fees, possible LMI. A broker will calculate whether the switch makes financial sense.
Find a mortgage broker Canstar home loans RBA rate tracker
🦘
Superannuation Fund Review
Wrong fund or high fees can cost $50,000–$200,000 over a lifetime.
High reward
▼
1
Find all your accounts. Use myGov to locate lost or multiple super accounts — the ATO estimates $17.8B in unclaimed super in Australia right now.
2
Check your fee percentage. Fees above 1% of balance are high. Industry funds (Australian Super, Hostplus, Rest) typically charge 0.5–0.8%.
3
Review your investment option. If you're under 45 and in "balanced," you may be too conservative. "Growth" options typically outperform over 20+ year horizons.
4
Compare performance. Use the ATO's free YourSuper comparison tool — independent, government-run, takes 5 minutes.
ATO YourSuper tool Find lost super on myGov APRA performance data
💳
Credit Card & Personal Debt Restructure
Credit card interest at 19–22% is the most expensive money you can owe.
Medium effort
▼
1
List every debt with its rate. Credit cards (19–22%), personal loans (8–14%), HECS (CPI-linked), car loans (5–12%). Rank worst to best.
2
Target credit card debt first. A $5,000 balance at 20% costs $1,000/year in interest. A 0% balance transfer card for 12–24 months is often available.
3
Consider consolidation. Rolling multiple debts into a personal loan at 8–10% vs 20% on cards saves significantly — but only if you don't rebuild card debt.
4
Don't overpay HECS. HECS is indexed to CPI. If your savings rate beats inflation, voluntary repayments don't make mathematical sense.
Balance transfer comparison Personal loan comparison
📄
Tax Return Optimisation
The average Australian leaves $400–$900 on the table each year through missed deductions.
Annual task
▼
1
Work from home deduction. 67c per hour using the ATO's fixed rate method. No receipts needed — just a diary or timesheet record.
2
Vehicle and travel. Any work-related travel (not commuting) is claimable. Under 5,000km use the cents-per-km method (88c/km in 2024) — no log book required.
3
Phone and internet. If used for work, a proportion is deductible. Estimate work use percentage with a 4-week diary.
4
Income protection insurance. Premiums held outside super are tax-deductible. Many Australians hold this without claiming it.
ATO myDeductions app ATO WFH guide Find a tax agent