Tips and tricks for cutting costs

Save money with rewards programs and offers

Cost of living is impacting people across Australia, with everything from rising interest rates to the weekly grocery shop contributing to the strain. While there isn’t one catch-all solution, there are different ways you can tackle the financial squeeze.

Reward and discount programs may not seem like you’re saving a huge amount each time, but it adds up over time. If you’re shrewd enough to save a little bit on food, entertainment and even travel, you’d be surprised how much money you can keep in your pocket.

A great way to keep track is by using the Spending tool in the NAB app. These insights allow you to identify areas where you could save money or find extra value.

Treat yourself (and your wallet)

Often one of the first suggestions when it comes to saving is cutting back on unnecessary expenses, like eating out and going to the movies. But if you’re savvy, there are ways you can still enjoy these activities without paying full fare.

You can grab a big discount on your restaurant bill if you use services like Eatclub, opens in new window or The Fork, opens in new window. In fact, if you’re not too fussed about where you’re going to dine, you can save up to 50 percent, plus you can try out somewhere you’ve never been before.

If you’re hanging out for a trip to the movies, you can save a few dollars by going earlier in the week – most cinemas offer discounted prices on Mondays and Tuesdays.

Cut down on the cost of essentials

There are some things you can’t go without. Everyone needs to put food on the table and petrol in the car. Fortunately, scoring a discount is still possible.If you’re happy to change up your grocery shopping routine, there are plenty of deals available. Sign up for Everyday Rewards, opens in new window (Woolworths) and Flybuys, opens in new window (Coles) and check the relevant apps to see what specials and offers are available that week.

By using NAB Rewards, opens in new window , you get the flexibility of being able to redeem cashback into your account or convert to Flybuys points. Another smart option is redeeming for gift cards through your credit card rewards program, which can then be used to purchase everyday essentials. Think buying an Amazon gift card and using it to buy toilet paper or dishwashing tablets in bulk.

You can take the same approach to fuelling your car. Use Petrol Spy, opens in new window to keep an eye out for the cheapest places to fill up or take advantage of 7-Eleven Fuel Price Lock, opens in new window to ensure you’re getting good value for money no matter where you are.

Save big on major purchases

Large expenses like a holiday can seem unrealistic when you’re trying to budget, but that doesn’t mean you have to abandon your dream getaway. Planning how much it’s going to cost and what you need to make it a reality is a good start – you can do this by setting a savings target with My Goals.

You can put a dent in the overall cost by signing up for frequent flyer and credit card reward programs. There’s plenty of them out there but try to stick to one or two programs so you can accrue one currency instead of having small points balances that never seem to accrue fast enough to redeem.

You can access Webjet redemptions, opens in new window through NAB Rewards, Velocity, opens in new window lets you pool family points, which can reduce the price of flights, and if you’re trying to save on accommodation, using Visa Perks, opens in new window may get you a discount.

With cost-of-living pressures, it’s never been more important to take advantage of ways to save money. Keep an eye out for targeted offers from NAB to help ease the burden.