this post was submitted on 20 Sep 2023
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What have you changed about your lifestyle to deal with the cost of living increases? (self.newzealand)
submitted 1 year ago by ciaocibai to c/newzealand
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I was having this conversation with a friend and we both got some useful ideas from each other (cancelling various underused subscription services, making use of libraries, more home vege gardening etc) - curious to know what else people are trying.

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[–] sylverstream 4 points 1 year ago (1 children)

Switched part of our mortgage to revolving credit. With higher interest rates, saves quite a bit, as long as you offset it.

[–] MaungaHikoi 2 points 1 year ago

This is a really good idea if you're in a position to be putting any cash savings aside. In a perfect world everyone would have 3 months of expenses in cash savings, obviously that's not always realistic, but if you combine that with an offset or revolving credit then you have the benefit of having that safety net while still saving the interest cost on that money. Our offset mortgage saves us about 100 bucks a week, a good chunk of that is just my provisional tax sitting aside waiting to pay the IRD.