With the new financial year upon us, this is the time of year when households are most likely to review their bills and their spending.

Abigail Koch, household savings expert at leading financial product comparison website comparethemarket.com.au, offers her eight insider hacks and secrets to help consumers reduce their bills and costs this new financial year.

Based on comparethemarket.com.au ’s analysis of a sample of policies for a 33-year-old female driver in NSW with a blue 2015 Mazda 3 hatchback and a 3-year no claims discount.

Based on Origin rates (Origin Maximiser, Bill Saver and Origin Saver). Excluding GST, based on 504kWh/monthly, not including additional discounts.

Based on a comparethemarket.com.au analysis of four major car rental quotes for a compact car, which found, on average, rental companies charged an excess starting at $4400, with the average excess reduction beginning at $30 a day. Comparethemarket.com.au ’s analysis of a sample of travel insurers with car rental excess cover found, on average, domestic travel insurance costs $36 for a 5-day holiday.

Based on the average international transaction fees of the Big Four banks, as analysed by comparethemarket.com.au.

12 payments of $2000 totals to $24,000/year, while 26 payments of $1000 totals $26,000/year – that’s $2000 more every year.