5 genius ways for Aussies to save money without spending less

Wisr’s Money On Your Mind Report 2025 revealed that saving money was the most common financial goal for Aussies going into this year. So, get you inspired as to how you can be savvy with your finances and save a little extra this year, we’ve found 5 genius ways for Aussies to save money without spending less.

Not heard about Round Up yet? This is our incredibly simple way of saving money that once up and running, you barely have to think about. 

Essentially, once you’ve set it up in Wisr App, you can choose to round up your everyday purchases to the nearest $1, $2 or $5. The extra amount is then sent to your Round Up account where it builds up over time. You can then either transfer your Round Up savings to another account, or use it to help pay off your Wisr loan (if you have one). 

One very easy way to save, without having to cut back. Genius? We think so.

There are a whole range of concession cards here in Australia that can save you money on healthcare and medicines. Concession cards may be an option for you if you are on a low income, are a carer, of retirement age or receiving other benefits from the government.

Not sure if you’re eligible? Check out the Australian Government’s page on concession and healthcare cards to find out more about who qualifies and how to apply.

Most of us know that we can switch our bill providers to get a cheaper deal, but did you know that you may also be able to do this with high interest debts? 

If you have a high interest credit card, personal loan or Buy Now Pay Later account costing you money each month, it’s worth checking if you can get a better rate with a debt consolidation loan. You could then use the lower rate debt consolidation loan to pay off the higher interest account and save yourself a little extra each month. 

Just bear in mind that if you decide to repay your debts over a longer period of time, even though the monthly repayments will be lower, you’ll pay back more in interest overall. 

Not sure if you’ll benefit? Use our handy Debt Bustr debt consolidation calculator to help you do the maths.

Have a home loan? You may be able to save money with an offset account. 

An offset account is an everyday bank account attached to your home loan (aka your mortgage). You can move your income and savings into an offset account and the total amount will be offset against the amount you have left to pay on your home loan. 

So, what’s the benefit? Well, you’re only charged interest on the amount remaining after the total in your offset account is deducted from the total balance of your home loan. For instance, if you have a $300,000 home loan and you have $50,000 in your offset account, you’ll only pay interest on $250,000. 

Essentially, this means that you’ll pay less interest on your home loan repayments, saving you money. It’s worth bearing in mind though that offset accounts come with different features and conditions, so it’s always worth doing your own research and running the numbers before making a decision.

Have a lot of savings? Well, you could consider investment property. Ok, we know what you’re thinking, how does spending money help me save money? Well, that’s because here in Australia you can potentially use negative gearing to reduce the amount of tax paid on your income. 

Negative gearing is deducting a loss against other income. It occurs when the cost of owning an asset, for instance a rental property, outweighs the cost of the return, i.e. the rent. That loss can then be deducted from the tax payable on your salary. 

For example, if the income you earn from a rental property is $40,000 annually but it costs you $50,000 each year, you’ll have a taxable loss of $10,000. This $10,000 can then be used to reduce your taxable income. 

You’d hopefully also benefit from the value of your investment property increasing over time as well. It’s worth noting though that all investments come with risks. Always do your own research and seek the advice of a professional before making big financial decisions.

Hungry for more money saving tips? Check out these 3 zero effort money saving tricks everyone should know about.

Disclaimer

This content is for informational purposes only and does not constitute financial advice, nor should it be relied upon as such. Readers should seek independent professional advice tailored to their financial situation before making any decisions.