"Some people can save over a thousand dollars if they structure their policy right." Says Justin referring to health insurance

they're four of our most crippling monthly bills, groceries, power, mortgage and private health cover but tonight savings tips that could save you a small fortune.

"Our private health cover tips and power tips can save you $5,000 or more." Says Lisa

Private health insurance has become a killer for many struggling families it's risen 6% a year for the past six years well above the inflation rate.

But Lisa Narroway from Your Money Magazine has compared all 37 private health funds to find savings and the best deals

"You should be making sure the cover that you choose provides only the benefits that you need and you're not paying for anything you don't need." Says Lisa

"So be specific?"

"That's right. Choose exactly what you need." Says Lisa

For better than basic cover Your Money recommends Health Partners at $71.30 a month and CUA for $71 a month

For medium to high family cover the Mildura district hospital fund came out on top with GMF's family choice costing a bit less than $210 a month followed by MBF's Advantage Hospital. And for the top cover with high level Hospital extras. Mildura again came first followed by CDH benefits fund and GMF family choice

"Look at the benefits you need. if you don't need pregnancy, if you don't need cardiac surgery, if you don't think you need benefits for hip or knee surgery, then don't take it out." Says Justin

Justin Hanka runs Help me choose an online health fund comparison site his top tip??

"There are some policies that you can choose an excess much the same as you pay the excess for your car insurance. and if you choose an excess often you can save a lot of money." Says Justin

Power bills are another killer your money magazine came up with their top money saving tips

Their top tip, insulate your home and save nearly $600 a year

"Definitely now we are moving into the colder part of the year you'll find that a well insulated home can save you 60-dollars a month on heating costs." Says Lisa

Turning off a second fridge saves $350 a year

running a thermostat on heating and cooling systems $156 a year

putting on solar panels an $800 saving

Moving providers can save you $280 a year

"You can save $2,787 dollars a year on average." Says Lisa

"A really old tip, an old wives tale that if you eat before you go shopping you're less likely to buy things you shouldn't." says Esta

Budget queen Esta Hammond knows how to squeeze every cent out of a grocery dollar using generics and unit pricing to find the cheapest, she has these new tips

Watch the clock "after 4 you'll find bakery discounts and you'll also find discounts in the meat department. It's also good to have a look in the dairy aisle because yoghurts and milk will often be on special." Says Esta

"The tricks that I use to save on groceries is to have a shopping list and a menu plan, that way you know exactly what I am buying and also to plan my meals about the catalogues to see what is on special as well." Continues Esta

"The banks are chasing, fighting with each other to lend us more money in fact most banks will lend us 97% of the value of the property." Says Scott

And for our mortgages the barefoot investor Scott Pape has these three new tips

"from July 1 Wayne Swann plans to ban exit fees on mortgages. This is going to allow us to shop around. So what I would suggest you do is get the lowest interest rate possible."

"Step number two is to make sure you've got a buffer there for your repayments, about 10% is good. Step number 3 is to act like a bank executive and screw your suppliers and make sure you're not paying off some bank executive's BMW with all the fees that you're paying." Says Scott

"The way things have been going the future doesn't look good. so now's the time for households to get into gear and find the best value polices and find the cheapest way to save on everyday household bills." Says Lisa



Your Money Magazine

Private health fund assistance


Esta Hammond's book is called "Save It. Easy ways to save money."


Scott Pape can be found at: