Households could save more than $7,500 in a year by switching to lower-cost providers, plans, and supermarket products, new Canstar.com.au research shows.
The potential savings come as the risk of a cash rate hike looms over Australia’s economy and families continue to battle rising cost-of-living pressures.
For mortgage brokers, the data highlights a clear opportunity to help clients refinance and restructure their debts, sharpening household budgets ahead of any rate moves.
An average household could end the year with more than $7,500 back in their budget by switching key expenses and bills, including refinancing to a lower home loan rate, changing electricity plans, and moving health insurance providers.
When combined with savvier supermarket shopping – such as switching half the basket to cheaper items – those savings tally up to $7,750.
For brokers, the home loan is typically the single biggest lever, making proactive rate reviews and refinancing conversations critical in 2026.
Canstar.com.au data insights director, Sally Tindall (pictured), says the new year is the ideal moment to take action.
“The start of a new year is a great time to reflect on your finances and make the changes that will set you up for the 12 months ahead,” Tindall said.
“Review your major expenses, compare what you’re paying against what else is on offer in the market and if there’s savings to be had, make the switch.
“Moving your major recurring expenses to more competitive options could see you hundreds, if not thousands of dollars ahead by the end of 2026.
“If you’re not sure how to tackle the task, start by writing out a list of every regular expense and decide which ones you can switch, negotiate or cut.”
For mortgage brokers, that list often starts with the home loan, positioning 2026 as a key year to re-engage clients, sharpen their rates and demonstrate real savings through refinancing.
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