Weekly tips & deals to lighten the strain on your wallet

WEEKLY WALLET WINS

🏆 Best supermarket meat revealed

'How I saved $12K in 8 months'

This bank just slashed savings rate 

Aldi's retro Special Buy

Ring ring! Smartphones under $400

Aussies break refinancing record 🏡 

Talk your way into a pay rise

Best transaction accounts in Aus 

A reader reached out to me last week saying her home insurance premium has more than tripled–from around $450 a year in 2017 to $1,700 this year.

“I won’t be able to insure my house if it’s the same price next year,” she wrote. 

This reminded me of a Sydney woman I read about who saw a nasty jump in her annual premium, from $728 in 2024 to $5,345 in 2025. Her insurer told her they’d assessed her place as a flood risk, and that she’d have to source her own scientist's report to have a shot of negotiating a discount.

Unfortunately, there’s no snap-your-fingers fix for rising home insurance costs. As the effects of climate change continue to bite in the form of extreme weather events, costs are on the up and likely to keep rising. These are increases you’re unlikely to miss, with our research showing the average home and contents premium jumped by 14% in the last year.

How much are we spending? Our data shows the average Aussie pays $2,795 a year for home and contents insurance, and you could save $766 (or 27%) by switching to a Canstar 5-star rated policy.

Speaking of beating the squeeze–banks are beginning to raise term deposit rates now that any immediate rate cuts appear off the table. 

RBA figures show the average 12 month term deposit rate was 3.6% in the September quarter, higher than it’s been for most of this past decade. There are providers on Canstar’s database offering an even better deal than that, with 6-month rates as high as 4.40%. 

With the ASX dropping after Wall Street tumbled in the last week, some traders will see opportunity. For others, a term deposit is a way to lock in a return on your cash.

Got a wallet win or burning question? Send it to me this week at nina.rinella@canstar.com.au  

When it comes to freshness, quality and value for money, not all supermarkets are created equal. See which supermarket Aussies voted number one.

See winners ►

With interest rates shifting, savvy borrowers are seizing the chance to save thousands on their mortgages.

Find out how ►

Health insurance sweeteners can apply to new customers too

Happy with your current health insurance policy but bugged when your provider offers shiny switch-and-save deals to new customers? They might be available to you too–but you’ll need to ask. It’s not a done deal, but in some cases, you could end up with the same deal or another discount or sweetener for the trouble. Under the Private Health Insurance Act, insurance providers can give existing members up to a 12% premium reduction per year. So, hit the phones and let us know how you go.

Interest warning: pay your tax bill by Friday

The Australian Tax Office cautions that if you did your own taxes this year and received a bill, it must be paid by this Friday, November 21. If you miss this deadline, you’ll be slugged with an annual interest charge of 10.61%. You can pay via the ATO’s online services, electronic payment, BPAY, over the phone or in person at an Australia Post office. If an accountant is doing your taxes and you were on their books by October 31, they have up to May 15, 2026 to lodge on your behalf without penalties.

Five minutes could save you hundreds on power tools 

With the warmer weather now here, the weeds in your yard are probably growing like … well, weeds, which means it’s time to bring the tools out of storage. A neighbour recently told me his trusty line trimmer tanked just outside the standard four-year warranty period, leaving him to pay $119 for a replacement. This tale is a good reminder to hop on the manufacturer’s website and register new tools and appliances. With just a few minutes and a few clicks, my neighbour would have been eligible for an additional two years of extended warranty on his purchase, so he’d be happily whacking weeds and holding onto his cash.