With many people struggling with the ever-growing cost of living, Bendigo and Adelaide Bank, Australia’s better big bank, has launched a new social media campaign, offering practical advice on how Australians can get on top of their budgets and combat rising prices.
From embracing a side hustle, to shopping tips, negotiating better rates with energy providers, and stopping the millions of dollars wasted every year on streaming services, the aim of this new campaign is to empower Australians feeling the pinch.
General Manager of Retail Banking Dennis Teale said the bank wanted to provide customers with actionable ideas and help them stretch their dollar further.
“Our purpose at Bendigo and Adelaide Bank is to support our customers and the communities we live in. We have a responsibility to help make them stronger, more prosperous, and more financially secure,” Mr Teale said.
“This philosophy has helped established Bendigo and Adelaide Bank as Australia’s most trusted bank and this campaign is an extension of our long-standing purpose.”
The Federal Government’s recent National Financial Capability Strategy[1] revealed only 29 per cent of Australians consider themselves to be living comfortably, with the report also revealing Australia’s Financial Literacy score to be only 68 out of 100, and even lower for women, who had a score of just 60 out of 100[2].
“These statistics prove there is a need for practical financial education. At Bendigo and Adelaide Bank, we want to equip Australians with the right tools to balance their budgets when cost of living pressures are being felt,” Mr Teale said.
The Bank’s social media campaign will be delivered online throughout the remainder of the year, with easy-to-understand tips and tricks to make budgeting easier.
The campaign will focus on four key actions Australian’s can do to save and make money:
Embracing the Hustle and Bustle
Making some extra cash on the side often turns from a side hustle to a side hassle. Bendigo and Adelaide Bank suggests embracing the side hustle by choosing something that fits neatly into their lifestyles.
From pet sitting and walking, to renting unused spaces to flipping hard rubbish and council clean-up or op-shop finds, there’s many things everyday people can do to make that extra cash.
Energy Crunch Time
We all know just how much our bills can stack up. The cost of electricity has gone through the roof, insurance premiums are on the march and the cost of petrol is becoming prohibitively expensive.
Bendigo Bank’s advice to keep these costs down is to shop around for better prices with rival providers, throw on a jumper on first before you crank the heater and think about how you can ride a bike, walk, or run instead of driving.
Food for Thought
Millions of Australians are in complete shock after checking their supermarket receipts, how was that weekly shop so expensive? There’s no doubt about it, the price of everyday items has gone up thanks to supply constraints and other inflationary inputs.
By reducing meat consumption or buying cheaper cuts and using a slow cooker, to making double batches of your favourite casserole and swapping one with someone close and always shopping locally and in season, there are many ways Australians can save on their weekly shops.
Deal or no Deal
Aussies waste $390 million a year on unused streaming services - that is more than three times the cost of the Opera House and proves it’s time every Australian sat down and did their own streaming services audit.
The same goes for gym memberships that barely get used. By choosing to walk, run or ride into work or your next event – that could save Australians thousands on petrol costs and that monthly debit from your local gym.