The Government Power Saving Bonus
3 min read
The way to earn $50 while saving money
It’s not often you are incentivised to do something that is in your best interests in the long run, but that’s what is happening with the Victorian Government’s $50 Power Saving Bonus. The payment can be claimed by every Victorian household that meets two simple criteria. 1) You have a residential electricity bill for which you’re the account holder, and 2) You must be able to receive the bonus payment by mail at the address of the energy service.
If you haven’t taken advantage of the bonus program yet, you still have until the 30 June 2019 to compare your energy deal and save. If you don’t have an electricity account but have gas, you can still apply.
Why we felt the urge to tell you about it: We’re in the business of looking out for your financial wellness and that starts with getting all of your finances in order. A lot of people ‘set and forget’ agreements with providers, whether it be mobile phone contracts, insurance, or energy providers. This is an opportunity to review your current deal and pick up a pineapple* for your time.
You can take advantage of the incentive (and get answers to FAQs) here: https://compare.energy.vic.gov.au
Whether you’re saving for a house or paying off a mortgage, we can all agree that every saving helps you get a step closer to your financial goals.
For other tips on how to save for your first home, check out our saving tips from Mikaela here.
*Actually, it’s probably a cheque for $50 rather than a cash note, but you get the idea.