Using the savings account of a partner with a lower tax bracket is one way to conserve cash, an industry expert has noted.
Those looking to conserve cash for a rainy day might like to take heed of one industry expert's advice and place funds in the savings account of a partner with a lower tax bracket.
This recommendation comes from Align Financial adviser Darren Johns, who pointed out that there are some lucrative techniques which are rarely used, the Sydney Morning Herald reports.
Other tips for saving that he advised included consumers being aware that they have power so as not to pay too much for a product.
He added: "In my experience, banks are more willing than they have ever been to have a negotiation on the current rate on a home loan facility."
And Mr Johns stated that usually a financial organisation is keen to lower a rate if they know a client is looking to move.
Maroochydore financial planner Michael Goodwin recently recommended that if people have to owe money it is better to do so on a home loan than a credit card, the Sunshine Coast Daily reports.
By Mark Hornby
