What’s causing prices to rise? Simply:

• About a third of the world’s manufacturing capacity is based in China and continued lockdowns have created lower production and a delay in the supply chain. 
• Sanctions on Russia, who account for about 10% of the global oil supply
• And locally, the increased cost of transportation and the deluge of rain has affected supply, especially for fruit and vegetables.

Money tips to help you through these hard times

An effective way to deal with sky high prices and is to take control of your budget (why not give our budget planner a go). 
Find the cheapest deals you can for big items like your phone, utilities, mortgage interest rates and insurance. And for everyday life, give these 20 tips a go to try and put more cash back in your pocket.

In the supermarket

1. Shop in the evening for discounted fresh food and stock your freezer. And not just meat and bread – many fruit and vegetables can be frozen too.
2. Compare apples with apples. Rather than comparing goods via the price alone compare via the price per 100 grams.
3. Look at the lower shelves. The cheaper items (and less profitable for the supermarket) are often out of your eye line.
4. Shop at Aldi. Choice has voted this chain to be the cheapest supermarket in Australia.
5. Buy vinegar and baking soda and replace expensive cleaning products.

In your car

1. Reduce the weight of your car by removing things from the boot and the roof racks. A lighter car uses less petrol.
2. Download the PetrolSpy app which allows you to see all the petrol stations in your area find the cheapest one.
3. Download the 7/11 app and lock in the best petrol price for up to 7 days.
4. Turn the air con off to use less petrol.

In your kitchen

1. Store your fruit and veggies in the right way to extend their freshness. For example, store fresh coriander in glass of water covered by a plastic bag in the fridge—it lasts much longer.
2. Once every couple of months don’t buy your weekly groceries, instead eat just from your freezer and pantry. You might be amazed to find how much food you have stored.
3. Plan your weekly menu around what’s in season.

In your wardrobe

1. Unsubscribe and unfollow companies that send you sale emails that tempt you to buy. 
2. Bored with your clothes? Try and do a full rotation of the clothes in your wardrobe. You’ll wear those favourite things normally saved for special occasions and find new combinations you’d never have thought of previously. Then sell anything that doesn’t make you feel great.
3. Don’t dry clean. Instead use a lingerie bag and wash on a gentle cycle.
4. Got a big occasion coming up? It might be cheaper to hire a dress rather than buy one.
5. For new wetsuits or footy boots – check out your local op shop.

Out and about

1. Family entertainment can be expensive so get creative. Take it in turns to choose and then go anywhere and do anything that doesn’t cost more than $20 for the entire day. Visit the free museums, go to a local festival, or drive somewhere you’ve never been before and take a picnic. 
2. Have quiet weekends and go out midweek. Cinemas still have discount Tuesdays, pubs have midweek dinner specials and trivia nights, there’s midweek deals at bowling alleys, and free museum nights. 
3. Save all your loyalty cards on the Stocard app so you don’t miss any points.

Want more help?

Want some extra help on your budget? TelstraSuper Financial Planning Advisers can offer expert guidance on a range of topics to help secure your financial future. You can speak to an Adviser from TelstraSuper Financial Planning by calling 1300 033 166 or fill in our online contact form. There's no additional cost for phone-based advice about your TelstraSuper account as this is included in your membership.

Check out the advice options available