Compare, switch, and save thousands!

Lauren Leisk, Yahoo7 Moneyhound Updated March 31, 2012, 2:37 pm

As human beings, many of us favour routine over change. But this isn’t the way to make money!

It takes effort to adapt to a new scenario. And of course, there’s always going to be a fair share of uncertainty.

But change can be a very good thing – especially when it's financially related.

Home Loans

If other financial institutions have passed on the Reserve Bank of Australia’s (RBA) interest rate cuts to the consumer then they may be offering a better rate than what you're paying.

If so, refinancing your current mortgage for a more suitable loan can shave years off your mortgage. Just ensure that the new lower interest rate doesn't blow smoke over pricey hidden refinancing fees, which may make the change more expensive than it's worth.

Savings Accounts

In a climate of economic uncertainty, savings account interest rates fluctuate. When they're on the rise, it's a fabulous idea to switch your savings to a high-yielding interest account. You're most likely to score a better deal if the account is online, too.

Credit Cards

Have you come across a glowing new introductory offer lately? You know, zero per cent interest for five months on purchases or interest free balance transfers? If so, take advantage and make the swap to a new card if you've got nothing to lose. Just take note of what the default interest rate will be once the introductory offer expires. This is often a premium rate, so don't get tricked.


Consumers often look to save money on their electricity bills by switching retailers. Be sure to read your contract thoroughly, as some stipulate that the new energy retailer can up their price or vary the terms and conditions at any time. So you may think you're locked into a good rate, but actually aren't. Additionally, if you're planning to move in a few months, it's a good idea to organise the switch before you've settled into your new address.


Internet contracts tend to be fixed for longer periods, usually 12 or 24 months. The best time to shop around for a new deal is when your contract is about to expire. This saves you from breaking the contract and incurring a pricey termination fee. Sometimes it's also worthwhile changing your Internet, home landline and mobile phone over to the one service provider to reap a big discount and gain access to loyalty rewards.

Additional points to consider

- Ask your new retailer or financial institution how a discount will be applied and if there are any limitations, ie; A discount may only be applied to part of a bill, not the whole. Or a rate on a credit card may be an introductory offer lasting a few months.

- Take note of when your contract will expire. Will you still be eligible to receive your contract rate or the more expensive default rate?

- Are there any termination fees for leaving a contract or loan early? If so, how much.

Need help finding a new credit card, home loan, bank account or energy provider offering a better rate for you? Then compare the top finance products in Australia using Moneyhound's free comparison service and make the change today!

Has this article been useful? Let us know by using the feedback button.

More from Moneyhound:
Give a chick a chance - raise chooks in your suburban backyard
8 Ways social media can save you money
Make huge savings in less than 30 minutes
Take your dream holiday without going into debt
Cash back for going green

Moneyhound Product Picks this Month:


Compare Health Insurance


Get the latest deals that could save you money on your monthly bills

Help me find a credit card

  • Card payment network

  • Already have a credit card? Find your current credit card here and compare it with others

Help me Save

Use our credit card balance transfer calculator

  • 1. Find your current card

  • 2. Enter your current balance

  • By switching, in 6 mths you could

  • Transfer rate (APR*) used : 0%

    Transfer rate term used : 6 months

*APR and APR term suggestions are based on market competitive products listed on this page. Fees and charges are payable. Read the disclaimer

Moneyhound helps you compare 187 credit cards from 61 trusted issuers

Credit Cards Latest News

Compare more products and services

Disclaimer: Yahoo7 has partnered with RateCity and WhistleOut for the provision of pricing information for financial, telecoms products. Yahoo7 has partnered with Lifebroker to provide information regarding life risk products and with RateCity to provide information on general insurance products. Yahoo7 has no direct affiliation with any finance, telecom or energy institutions listed here to promote this content. The content of this website has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should not acquire any financial products before taking into account whether your selected products are appropriate to your personal circumstances, having regard to your own objectives, financial situation and needs. Whilst reasonable efforts are maintained to provide accurate, true and correct information, it is advised that you confirm the terms of any product or contract and consult the product disclosure statement before making a decision to apply to any product issuer.

Whilst Yahoo7 Moneyhound attempts to provide information regarding as many products in the market as is possible, not all available products are compared on this site.The comparison rates for home loans are based on secured credit of $150,000 and a term of 25 years. The comparison rates for car and personal loans are based on credit of $10,000 and a term of 3 years. WARNING: The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Read more on our disclaimers here.

Yahoo7 Money Hound Pty Ltd | ACN: 151 232 450 | ABN: 20 151 232 450
AFSL: 407341 | ACL: 407723 | COSL: M0011954
Financial Services Guide