Money Magazine has found the cheapest deals on everything from mobile phone plans to credit cards, the best home loan package, super funds.
The list goes on and on - all the hard work has been done for you.
So get ready to save a fortune and start thinking about what you're going to do with all that money.
This is a brief summary of the best deals – the full list and all the details can only be found in the November issue of Money magazine.
The list goes on and on - all the hard work has been done for you.
So get ready to save a fortune and start thinking about what you're going to do with all that money.
This is a brief summary of the best deals – the full list and all the details can only be found in the November issue of Money magazine.
Mobile Phones
Money Magazine's Effie Zahos says the first place to cut costs is on your mobile.
"The ones that are advertising with the big marketing budgets, often don't have the best deals," Effie tells ACA.
If you don't use your phone very often, go prepaid with Savvytel:
Effie says the main benefit of this operator is they carry credit on at the end of the month – so your credit never expires.
"This is unique to Savvytel, it's a great plan for seniors or if you have kids and you want to give them that contact," she says.
If you use your phone regularly and send around 150 texts a month - sign up with Go Talk:
Effie's tip: "Now they actually get gold here because for $45, you get $250 worth of calls."
But if you're a continuous caller and send 300 texts a month, switch to TPG.
Cheapest High-Use Mobile Plans
1.)TPG Unlimited All You Can Eat 2.) Virgin Mobile Postpaid $99 Topless
Cheapest Low-Use Mobile Plans (Prepaid)
1.) Savvytel SIM Starter Kit $20 2.) Virgin Mobile Bean Counter
Home Loans
Founder of Money Magazine, Paul Clitheroe, has a simple message:
"A whole bunch of Australians are paying for bells and whistles in their mortgage and mobile phone contract - and most of us don't use the bells and whistles," he tells ACA.
"If you don't need stuff - don't pay for it."
When it comes to home loan packages the Commonwealth Bank and Colonial Bank both win gold.
"Get rid of credit card debt first, the high cost car loan second and then think about getting the mortgage lowered while you can," Paul says.
Credit Cards
If your credit card is already getting a Christmas workout, just remember that come February you'll need to start paying it off.
"There are great cards for the Christmas credit card hangover. If you're looking for a bank, St George or Bank of South Australia pick up gold here," Effie reveals.
"If you want a credit union, a number pick up gold and overall, they're a lot cheaper. For reward points, Westpac pick up gold, while in the non-banking category, Amex are the most rewarding."
Paul Clitheroe says getting rid of credit card debt should be your first stop in getting your finances under control. This year the non-banks offer cheaper credit cards than banks.
Best Value Car
If you're in the market for a car, the Mazda Neo wins gold for best car under $25,000.
And Mazda win again for best car under $35,000.
According to Paul, the best deals on cars should be arriving in 2009. "Next year there are going to be some sensational consumer bargains."
Best Value Broadband
If you spend a lot of time online, the best broadband deal goes to TPG.
"You get 50 gigs on that deal for 49.95 a month – that's a lot of downloads for a very low price."
Cheapest Broadband Plans – High Speed
1.) TPG ADSL2+ Ultimate Medium 2.) Chariot netconnect Explorer ADSL2+
Super Funds
Super funds have had a shocking year - not a rough year but a shocking year. However, according to Paul, their long-term performances are a lot better than their one-year performances.
The best balanced super fund is MTAA. But if you still have a few years left in the workforce, hand your super worries over to the best growth super fund – Hostplus.
"You'd be crazy not to have a look at what's out there - and you may save yourself a fair bit of money," Paul advises.
Depending on how long you have left in the work force, different super options will have different appeals. Balanced super funds, which will suit those looking to retire soon, tend to focus on hedging their bets to keep a pretty standard return. Growth funds, on the other hand, invest mainly in riskier areas like the stock market to try and get a bigger return.
Best Balanced Super Funds
1.)MTAA Super – Balanced 2.) AMIST – Balanced
Best Growth Super Funds
1.) Hostplus – Shares Plus 2.) AustralianSuper – High Growth
Bank Accounts
You could also be making a fair bit of money if you tip your savings into one of the competitive online accounts.
"We looked at the best online savings account in the past two years and the gold winner for that goes to Bankwest," says Effie.
But with rates constantly on the move, the best deal going today is with DragonDirect.
"Spend less than you earn – That's the best tip I can give anyone," says Paul. It's not about winning lotto, it's not about finding a share that doubles or property that doubles. Forget the fancy stuff and get your finances under control," he says.
(Source: current affairs)
