ENERGY COSTS…OUR GREATEST FINANCIAL GRIEF
Reception • November 1, 2018
Average annual electricity bills in Australia hover around $1,600 per state, even hitting as high as almost $2,000 in South Australia.
The average annual electricity bill for a family of five can climb to as much as $2,576.28.
The somewhat unpredictable Aussie climate coupled with a growing population is increasing demand on energy use.
Q. How do you compare? Your energy bill may hold the answer.
Most electricity providers publish helpful information on your bill statements including power used, what it costs and how your usage compares to customers in your area.
Q. What are the main factors that determine the average cost?
- Electricity usage – how often energy efficient appliances and higher energy consuming appliances e.g. air conditioners are used.
- Electricity prices – the price you pay for power, along with the usage, will determine your overall costs. Online comparison site Canstar Blue offers an electricity comparison tool to help you get the best deal possible.
The power is in your hands (pardon the pun) to reduce your energy bills:
- Get the best deal possible, and
- Control your energy usage!
Q. How can you control your energy usage?
These tips from Energy Australia could help make a difference to your next energy bill.
Heating and cooling
Reduce the energy you use by:
- Closing doors to unused rooms
- Closing curtains or window shades
- Using blankets, electric blankets, wheat bags or hot water bottles instead of heating the room
- Cleaning your air conditioner or cooler so it doesn’t need as much energy to run
- Turning off heating or cooling when you are not home and during the night
The family room
- Switch off appliances at the wall – appliances still use energy in standby mode
- Use a power board – switch off all appliances with the one switch
- Use lamps or spotlights – use these small amounts of light instead of main lights
- Use energy-saving globes – change old globes to fluorescent ones
- Too many lights on – turn off lights you are not using
Kitchen
- Microwave oven – uses less energy than an oven
- Stovetop – keep lids on to reduce the amount of time and energy used
- Dishwasher – use the economy cycle and only use when full
Laundry
- Washer or dryer – only use with a full load. Use a clothesline instead of dryer whenever possible
Bathroom
- Water use – install water-saving showerheads, shorten showers, set the hot water temperature to 50 degrees
- Appliances – switch off when not in use
Outside
- Timers and sensors – to light outside areas
- Solar – for garden and outdoor areas
- Lighting – separate the lights to choose which areas to light
Create good habits
Many of us set financial budgets to help manage our cash flow. We can take the same approach to our energy bills:
- Set an energy spend in your yearly budget and track your spend
- Make some of the changes mentioned above to reduce your bills
- Review your energy bills on a regular basis
With smart budgeting and energy saving tips, you can manage your cash flow and put more dollars back in YOUR pocket.
- Canstar Blue electricity customer satisfaction survey , January 2018
- https://www.energyaustralia.com.au/blog/betterenergy/how-save-energy-your-home
Disclaimer: This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs.
We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply. © 2018
Any property guru worth their salt will tell you that a dream property investment has nothing to do with a prestigious address or sleek amenities. The ultimate goal, is to find that perfect “high yield” property that will give you maximum returns for as little input as possible. Yield refers to the amount of cash a property produces as a percentage of its value and is calculated by the rental income you are receiving compared to the purchase price. There’s a lot more that goes into the calculations, which I’m happy to run you through, but to give you an idea on what to look for, I’ve put together some simple tips. 1. Do your research. There are plenty of stats out there that will give you the median rental yield for each suburb. This is a great place to start! 2. Look for dual income properties such as a house with a granny flat. You can potentially have two streams of rent coming in, meaning the chance for a higher rental yield significantly increases. 3. Have you thought about looking rurally? Country towns offer some great properties at a low price and because the cost of living is low, the rental yields tend to be higher. 4. Always think forward. Be on the lookout for up-and-coming areas and ask yourself if they’ll still be flourishing in five years time. At the end of the day, you need to be realistic. Just because a property has a high yield doesn’t mean it’s going to be a great investment. As a mortgage broker, I can talk you through your options for investment loans so you can see what your monthly outgoings might look like. Please call our team on (03)8657 8664 or email reception@futurefinancegroup.com.au to arrange an appointment.
The continuing boom in property prices has tempted many homeowners to invest in renovations to maximise the value and then put their home straight on to the market. There’s no doubt you stand a better chance of enjoying a great return on your investment if you modernise your home. Properties that enjoy a mix of the traditional and the contemporary are in big demand among today’s buyers and nothing ticks the boxes more than a brand new kitchen or bathroom. Two increasingly popular features at the moment are a dedicated home office and a design that connects the indoors with a garden or entertaining area. But renovation projects of this size can become expensive. If your budget doesn’t allow for large-scale upgrades, there are plenty of ways to enhance the value of your home at little cost. Here’s a seven-point guide to upgrade your home. 1. Break out the brushes It’s amazing how a fresh coat of paint will improve a property. Don’t focus only on the walls but attend to the skirting boards, ceilings and architraves. Select neutral colours as these make rooms feel bigger. 2. Go green Small-scale improvements to your gardens work wonders. Focus on the front yard as this creates an all-important first impression. 3. That’s entertainment If your property lacks an area to entertain, this is a great low-cost project to enhance your property’s desirability. Consider adding a deck or a barbeque area. 4. Floor ’em A mixture of different floor types can make a home feel bitsy while a home with consistent flooring creates a great sense of flow. Replacing the floor can be a painful project but you’ll be amazed how much bigger your home feels. 5. Say it with storage You can never have too much storage. A bedroom without built-in robes is just asking for clothes on the floor. Think about storage in bedrooms, bathrooms, kitchen and laundry and looks at ways to create clever storage solutions in nooks and under the stairs. 6. Kitchen upgrades If yours is a little tired, don’t worry – you don’t have to rip it out and spend big dollars. Consider replacing only the doors, drawers and handles. You’ll achieve a transformation at the lowest possible cost and it will feel like new. 7. Unbeatable bathroom Like the kitchen, this can be an expensive renovation. You can avoid replacing tiles by using a professional company to spray-paint them. This treatment can also be applied to sinks, baths and showers. New tapware and shower screens complete the refresh for a fraction of the cost of ripping and replacing. Please call our team on (03)8657 8664 or email reception@futurefinancegroup.com.au to arrange an appointment. *This article is provided for general information only and does not take into account the specific needs, objectives or circumstances of the reader. Before acting on any information, you should consider whether it is appropriate for your personal circumstances, carry out your own research and seek professional advice.
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