Inflation soars to the highest record in decades! Find out how to save during these difficult times!
At this point, we all know how bad inflation has gotten. The prices at the pump continue to go up, groceries are still costing a fortune, and interest rates are rising. It’s been all over the news for a long time. The question that loomed over us all though, was how bad is it really?
Well, it seems we finally have an answer…and it’s pretty grim.
So to help you out, we thought we’d provide a rundown on everything you need to know about inflation AND most importantly, how to save money!!
Break it to me, how bad is inflation?
On the 18th July, Statistics New Zealand revealed the Consumer Price Index, a measurement of inflation for Kiwi households. It shows that inflation has risen 7.3% since last year. This is the biggest increase from one year to the next, since 1990.
This massive increase has been caused largely by housing, with construction and rentals rising in price. Also, transport has had a big impact, with the price of petrol and diesel continuing to go up.
To put it simply, inflation has risen a huge amount! It’s especially alarming as it’s gone up even more than what any of the experts predicted. So it’s not looking too great!
Is anyone doing anything about it?
The government has stepped in and announced some measures that they hope will ease the financial pressures caused by the rising inflation.
They plan to extend the cuts to Road User Charges, Fuel Excise Duty, and public transport fares until the start of next year. This follows their decision in May to give around $27 a week for three months to Kiwis who earn under $70,000 and don’t receive the Winter Energy Payment.
What can I do?
While the government measures will definitely help Kiwis out, the reality is that things will still be very tough. Many families will still be struggling to make ends meet.
So the best thing that we thought we could do to help, is show you some amazing ways to save money! If you try these out, you’ll likely save HUNDREDS of dollars!
The best ways to save money!
Save on your groceries:
We all know how costly the food shop can get! So make sure to shop in season or on special. Also, grow your own vegetables and fruit! Plus, plan out your meals and opt for click & collect to avoid unnecessary purchases. These seemingly small choices will save you plenty of cash in the long run!
Also, don’t forget to use FoodMe! It’s a grocery comparison website where you can compare the prices of different grocery items from various stores in your area. By comparing prices, you’ll see where you can get the best deals and save heaps of money!! Learn more here!
Want even more savings when you shop? Then check out PriceMe to compare and find the cheapest products like mobile phones, appliances, health and beauty, and so much more!
Stay warm for less:
Power bills are often one of the biggest stressors for families, so make sure to follow our tips on heating your home for cheap!
Make sure to get the right heater for your place. If you choose the correct type of heater for the size of the room you want it in, you’ll save plenty of money. So look into each of the different heater types like heat pumps, oil column heaters, and fan heaters to see which one will be most cost-effective for your space.
Also, sign up to a power plan that offers free hours of power! In a nutshell, power providers are offering times during the day (included in your plan) when you can enjoy power for FREE! This is a fantastic way to save plenty off your power bill.
Don’t forget that staying warm is all about insulation. However, getting double glazing for your windows, to keep the warmth in, can be super costly. So follow our DIY tricks! Use bubble wrap or a window kit over your windows to stop the nice warm air from escaping your room.
Switch broadband, power or financial providers:
A great way to save is by shopping around and switching to a new broadband, power or financial provider! Kiwis can often be fiercely loyal, but this may mean missing out on finding a cheaper provider! Looking at what other providers offer could mean you find a plan that saves you hundreds of dollars!
What’s the best way to compare and switch, you ask?
Head to NZ Compare! NZ Compare features a variety of comparison websites where you can compare plans and providers to find the one that suits your needs the best!
You’ll find special benefits, joining discounts and exclusive deals- all of which will save you a lot of cash!
Check out more ways to save:
The aforementioned tips are just some of the great ways that you can save money. For even more tips, check this out!
How to use NZ Compare
We want to stress again that we believe the easiest way to save is to compare all your household bills to find a cheaper plan! So, you need to use NZ Compare!
Luckily for you, NZ Compare is incredibly simple to use! You’ll find a fantastic plan within minutes!
Just follow these steps:
- Click on the service you are after: Broadband, Power or Finance.
- Type in your address.
- Select some filters that match your preferences.
- Hit enter!
- Browse all the different plans available to you & compare them side-by-side.
- Find one you like and switch!
Alternatively, if you’d rather chat to a friendly human, then give our customer support team a free call on 0508 22 66 72. They’ll help you find an awesome plan!
Seeing inflation soar to new heights will be incredibly worrying for many. So, follow our tips and make sure to use NZ Compare to save as much as possible!
We wish you all the best during these tough times!