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Date Published : Monday, June 09, 2008
As many Australian consumers feel the pinch of the global economic slowdown, a new report has offered some "smart shopping" tips that can help save "hundreds of dollars".
According to thedaily.com.au, some careful credit card management can help cut expenditure.
The newspaper advises to avoid automatically accepting higher card limits.
"Weigh up whether you can afford to make higher repayments if you are to take any extra credit offered," it said.
And, while credit cards can be useful for making big purchases, it advised shoppers to leave them at home if they are just browsing, as they cannot spend on impulse buys if they do not have their card with them.
The newspaper adds that according to a report from Australia Consumers Association magazine Choice, a few other budgeting methods and sensible shopping habits can also save some extra dollars.
Consumers are advised to negotiate with banks over their fees and to shop around for the best deals on products and services such as mobile phones, pay TV or broadband internet.
Once they have compared providers, people should keep checking deals and prices, as some providers do not inform existing customers when they introduce new plans, it added.
Savings can also be made with some "creative planning" when it comes to buying groceries or clothes - instead of "pricey French champagne", opt for a sparkling Tasmanian wine, it said.
Shopping at budget supermarkets such as Aldi can save some bucks too - Choice research has found a basket of goods there can be up to 55 per cent cheaper than at a major supermarket, while its taste tests have shown even experts cannot tell the difference between premium products like organic chicken and normal brands.
Compare credit card rates.
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