Feeling the pinch? These simple switches could save you $10K in 2026

With mounting cost-of-living pressures, every dollar counts. That’s why a few well-chosen switches could see you saving more than $10,000 a year. That’s a nice little chunk of extra change in your back pocket! Canstar’s Cost of Living Comparison looked at a wide range of everyday bills—from mortgages and credit cards, through to home and health insurance, utilities and even groceries—to see where households could cut costs. And the results are certainly illuminating.

We considered the kind of household expenses you might typically see in a year, then explored potential savings. In some cases, savings came from switching to the cheapest product, and in others, from selecting Canstar 5-star rated products that balance cost and value. Individual results will vary, but our findings show just how much can be saved by reviewing and comparing everyday expenses.

Here are our top tips to save heading into the new year:

1. Shop around for loans

Your mortgage or car loan could be quietly costing you more than necessary. For example, if you’re paying off a $600,000 home loan or a $40,000 five-year car loan, your interest rate might be well above others on the market, and you could stand to save thousands annually simply by switching to a provider with a more competitive rate. By switching to a 5-star rated product, you could enjoy meaningful savings while maintaining quality service.

2. Review your insurance policies

Insurance doesn’t have to break the bank. Canstar found that, by selecting a 5-star rated policy, a 40-year-old non-smoker could save:

• $244–$332 per year on income protection insurance
• $170–$252 per year on life insurance
• Hundreds more on home, contents, car, or health insurance

3. Flip the switch on your energy bills

If you were shocked by your last power bill, then it might be time to switch things up. Our Cost of Living Comparison found that taking your business to a new electricity or gas provider could save you hundreds each year. For instance, we found that a typical Sydney household could save over $500 by choosing a 5-star rated energy provider, combining affordability with reliability.

4. Don’t forget the smaller bills

From your NBN plan and mobile phone to pet insurance, reviewing these ‘smaller’ costs could save hundreds more. Taking a look at our cost of living comparison tool could help you make some savvy choices that deliver both value and peace of mind.

5. Cut grocery costs without scrimping

Switching 50% of your shopping to no-name brands could reduce your weekly grocery bills and free up cash for other essentials—maybe even a little treat or two…

By making these simple switches, a hypothetical household could save an estimated $10,073 a year. Every household is different, so you may not have all of these expenses, but shopping around and comparing with Canstar could help you save on the ones you do have. Your wallet (and your stress levels) will thank you.