Electricity bill high? What are the ways I decrease my electric bill?

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Cash in your bank within 60 seconds

88% of our customers have their funds within 60 seconds of signing their contract.*

*Only available for NPP enabled bank accounts

Fast Personal Loans

  • Smart and quick application form, which can be completed in minutes
  • 70% of applicants receive an outcome instantly
  • For applications that do not receive instant outcome, most receive a final outcome within 60 minutes!*
*During normal business hours.

Electricity bill so high? How can I get decrease my electric bill?

Andy

Andrew Bell

Last updated: December 17, 2019

  • 4 min read

4 min read

Electricity bill

WHY IS MY ELECTRICITY BILL SO HIGH?

Are you experiencing a high electricity bill ? Well your not alone plenty of Australians are feeling the high electric bill pinch! With some customers turning to cash loans to pay their bills, there needs to be some better strategies for customers than more debt!

With our continually increasing electricity bills, that we are all receiving many of us are asking, “Why is my electricity bill too high?”

Here are some questions you can ask before you speak to your electricity supplier for some answers.

  • What is a normal electricity bill? If it is the electricity bill that has increased you will be able to see what increases your company has charged.

You need to look at the kwh or amount of electricity you have used compared to your last electricity bill.

  • How much electricity do you use and what is normal for your electricity bill ? Look back at your bills and compare what is a typical or normal electricity bill for your family and then compare it to the current electricity bill.
  • How do we keep our electricity bill costs down?
    1. Make sure the electricity bill you are receiving is correct?
    2. Could there be something wrong with your meter or that the meter could have been read incorrectly?
    3. If your meter matches your electricity bill and you haven’t been over charged then you should check if your meter is working correctly. You may need to call an electrician to ensure your electricity is wired up correctly.
electricity bill
electricity bill

HOW DO I SAVE MONEY ON MY ELECTRICITY BILL?

Saving money on your electricity bill can be a simple matter of being more aware of your household electricity habits.

Here is a checklist that may help when trying to save money on your next electricity bill :

  • Is your air conditioning (summer) or heating (winter) been used more than needed? This can significantly increase your electricity bill? Save money AND beat the heat!

Servicing older appliances to ensure they are working correctly is a good idea.

  • Has the dynamics in your house changed? Is there more people using the electricity, showering or home at different times of the day etc.?
  • Check whether your electricity bill company has done an estimated reading.

You can find this on the back of your bill under pricing calculations labeled “estimated reading”.

An estimated reading is done when the reader cannot access your meter or if there is a technical issue.

There may be a variation charge or refund after an estimated read once it has been followed by an actual read.

You can be credited if you have used less or billed if you have used more.

Therefore, when it comes to saving money on your electricity bill you need to ensure that your meters are working correctly and is being read correctly by keeping your own log to compare to our bills.

This way we can decipher whether it is our end that needs to be more energy efficient or whether the electricity company needs to readjust their practices.

Can I borrow money to help with bills?

Generally, online lenders can approve personal loan applications for unexpected bills, depending on your financial circumstances. You could be eligible for up to $5,000 to help pay bills or fund your next holiday!

Nifty Loans can offer loans for unexpected bills from $300 to $5,000. The repayment period will depend on the amount you borrow. You can apply online in minutes, receive a fast outcome in 60 minutes* and if approved, have your cash in your pocket and ready to use in 60 seconds**. It’s possible with Nifty.

Am I eligible to get a loan?

To apply for a loan, you simply need to meet the following four requirements:

  1. You must be over 18 years of age
  2. Be an Australian citizen or permanent resident
  3. Receive a regular income for at least 3 months into a personal account
  4. Have an active mobile number and email address

If you meet the above requirements, then you are ready to apply for a loan! Scroll up and get started using our loan calculator!

What documents should I have handy?

None! To complete our loan application, you shouldn’t need to submit any physical paperwork. We access all the info we need to assess your application electrically with the following information:

  • Personal contact details (e.g. active mobile number and email address)
  • The reason for your loan
  • Internet banking details
  • MyGov information (if you recieve Centrelink benefits)
  • Employment contact details

If you have these details handy when you apply, you’ll breeze through your application! Have questions about why we ask for certain information? Contact our friendly team, we’re always happy to help.

Ready to apply?

Great! Scroll up and use our loan calculator to select how much you wish to borrow and for how long. After you’re happy with your proposed loan terms, hit the ‘Apply Now’ button.

*subject to when you submit your application

**Only available for NPP enabled bank accounts


Andy Andy

AUTHORITATIVE SOURCE

Andrew Bell

Since founding Nifty in 2016, Bell has continued to make waves within the local financial sector for his continued ambition and willingness to adopt emerging technologies.

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Large Loan Example

Loan amounts:$5,000
Terms:18 months,
(78 weekly repayments)
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Weekly installments:$88.43
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Medium Loan Example

Loan amount:$2,500
Terms:24 Months,
(104 weekly repayments)
Establishment fee:$400
Total other fees:$1,609.44 (reducing interest)
Total payable:$4,509.44
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Small Loans

$300 - $2,000

Loan amounts:$300 - $2,000
Terms:6 - 9 months
Establishment fee:20%
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Small Loan Example

Loan amount:$1,000
Terms:6 Months,
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* Not applicable. Small loans do not charge an annual interest rate.

** WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Different loans may include other payable fees and charges. All fees and charges will always be displayed on your loan contract.

Loan Costs

Potted Plant

Small Loans

$300 - $2,000

Loan amounts:$300 - $2,000
Terms:6 - 9 months
Establishment fee:20%
Monthly Fee:4%
APR:N / A *
Comparison Rate:138.37%**
View Example

Small Loan Example

Loan amount:$1,000
Terms:6 Months,
(24 weekly repayments)
Establishment fee:$200
Total other fees:$240
Total payable:$1,440
Weekly installments:$60.00
View Loan Details
Growing Tree Medium Loans

Medium Loans

$2,001 - $4,600

Loan amounts:$2,001 - $4,600
Terms:9 - 24 months
Establishment fee:$400
Monthly Fee:$0
APR:47.8%
Comparison Rate:65.86%**
View Example

Medium Loan Example

Loan amount:$2,500
Terms:24 Months,
(104 weekly repayments)
Establishment fee:$400
Total other fees:$1,609.44 (reducing interest)
Total payable:$4,509.44
Weekly installments:$43.36
View Loan Details
Grown Tree Large Loans

Large Loans

$5,000

Loan amount:$5,000
Terms:9 - 24 months
Establishment fee:Variable
Monthly Fee:$0
APR:21.24%
Comparison Rate:48%**
View Example

Large Loan Example

Loan amounts:$5,000
Terms:18 months,
(78 weekly repayments)
Establishment fee and Total Interest:$1,897.54
Total payable:$6,897.54
Weekly installments:$88.43

* Not applicable. Small loans do not charge an annual interest rate.

** WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Different loans may include other payable fees and charges. All fees and charges will always be displayed on your loan contract.