Keeping track of the best deals available in the market is hard work!
While the majority of Aussies consider themselves to be pretty savvy and claim to be regularly shopping around to get the best deal, the fact is that we seem to be focusing on the wrong things!
Because of that, we are all collectively paying 7.4 BILLION more than we should every single year.
The reason for that is that finding the best deals on major everyday expenses requires experience as well as time (and often lots of it!).
Furthermore, many of the services we use every day are recurring expenses which means we continue to pay for them for as long as we use them.
Perfect examples for that are electricity, mobile, broadband and various insurances.
While some people continuously shop around to make sure they are on the absolute best deal currently available in the market, the vast majority don’t!
Perfect case in point: car insurance.
How often do you compare prices on your car insurance policy?
Do you just do a quick price comparison when you get a renewal notice or do you check every month or even every week that you are on the absolute best deal?
Well, unless you check regularly, it is pretty much guaranteed that you too are one of those paying the ‘Lazy Tax’ (and car insurance is the textbook example for that)
“Ok, So what’s the solution? I can’t spend my days comparing prices. I have a busy life!”
Sure, totally understandable!
In order to help you find the best prices, we have our very popular concierge service.
The issue some people have with the concierge service is around the fact that it only looks at what’s available in the market at one particular point in time when you lodge a concierge request.
With the concierge service, we don’t continue to keep track of better deals which may become available later on (unless you lodge another concierge request at a later date).
Many people told us they want us to continue being their eyes and ears and keep checking the market regularly to make sure they continue to always be on the best deal.
So, we have come up with a way to do just that.
Introducing Spending Hacker Scout
Unlike Spending Hacker Concierge, the Spending Hacker Scout is a tracking service in which we regularly check (at least fortnightly and in some cases, weekly) the service you nominate against what is available at that time from the various providers (including your current one).
If we find a better deal, we let you know straight away!
We email you simple instructions with the following information:
What is the better deal and why it’s better?
Who offers it?
How you can get it?
Here is how Scout works:
Step 1: You identify a specific everyday product or service which you’d like us to track on your behalf.
Step 2: You decide how you’d like to pay the non-refundable service fee.
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Pay month-to-month at a cost of $10 per month; or
Prepay $100 for a full year. You get two months free with this option (as well as other potential benefits discussed below)
Step 3: You present us the service you’d like us to track, your specific requirements and how much you are currently paying. This will be done through an online application form which will open up after you’ve paid the scout service fee. You will also be able to attach copies of the relevant bills (highly recommended).
Step 4: We immediately start checking if there is any better offer available to you. We follow the exact same process described in the Concierge Page.
Step 5: If we are able to find a better price for the requested service, a Finder’s Fee will become payable to us.
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If we were able to find a better deal for you (with the same terms such as inclusions, contract length etc), we will charge you a ‘finder’s fee’ based on the actual savings we generated for you.
Say you were after the best car insurance deal. You are currently paying $700 a year.
We were able to find a policy with the same level of cover and inclusions for just $500.
In this case, we found a policy that is $200 cheaper.
Our Finder’s fee for a one-off service is half of the savings we generated for you.
In this case, it will be $100.
Say you were after the best broadband plan for your home. You are currently paying $90 per month.
We were able to find a broadband plan with the same amount of included data, same or lower setup costs and same or lower contract length for just $70 per month.
In this case, you’ll pay $20 less every month. This equates to a saving of $240 over the year.
Our finder’s fee for a recurring service is half the savings generated in the first year.
In this case, it will be $120 (240 divided by 2).
As you can see from the examples above, the idea is that we only charge you based on actual results and regardless of how much the finder’s fee ends up, you always remain better off than if you didn’t use our service.
Step 6: Once the finder’s fee is determined, the scout service fee you’ve already paid is deducted from it.
- If you chose the month-to-month option ($10 per month), we deduct these $10 you paid for the first month from the finder’s fee and charge you any remaining balance.
- If you chose to prepay for a full year of the scout service ($100 per year), we deduct these $100 you paid for the first year from the finder’s fee and charge you any remaining balance. This means that you are effectively getting the scout service for free (because you already recouped the cost of the entire year by saving on the finder’s fee)! If our finder’s fee ends up being $100 or less, you will not have to pay any finder’s fee either.
This is why it is worth your while to prepay for a full year of scout in advance.
You are guaranteed to get 12 months for the price of 10 and you may also get back the annual Scout service fee through saving on the finder’s fee.
Step 7: We continue checking the market at regular intervals (at least every fortnight) to see if a new offer becomes available that is even better than the deal you are currently on (either your original deal or a better one we found for you when you first signed-up). If we find one, we tell you about it straight away with step-by-step instructions on how to secure it and there will be no further finder’s fees payable.
Who Is the scout service for?
The Spending Hacker Scout service is for you if you are the kind of person who wants to always be on the best deal available but don’t have the time, patience or interest to constantly compare prices and keep tabs on new offers and new providers which become available.
Unlike the concierge service, which is a one-off service where we check the market for the best deals available at one particular point in time, with the Spending Hacker Scout subscription service, we are constantly on the lookout for you and no matter how many times we find you a better deal, we only charge you the finder’s fee ONCE (and even that only if we found a better deal for you at the time you first signed up).
The Spending Hacker Scout can track any everyday product or service you like except mortgages, managed funds and superannuation.
However, please keep in mind the following two very important points:
- The focus of the Scout service is on finding a better price on a comparable product or service. We do not take any other criteria into account (such as whether the service or product provider is based in Australia or whether they contribute to various charities or community projects); and
- If you want the Spending Hacker Scout to track financial products like credit cards or various insurance products (car insurance, home insurance, private health insurance etc), you should not consider any recommendations we make as financial product advice as we can’t provide you with any such advice! Our focus is purely on finding the best price and when it comes to financial products, price is hardly ever the most important criteria. You will need to make your own assessments (either on your own or with the help of a licensed professional adviser) on whether the product or service we recommend will be suited for your particular circumstances.
Like the sound of the Scout service and want us to be on the lookout for you?
Just click the button below and choose your preferred way to pay the service fee (either full year upfront or month-to-month)
[su_button url=”https://michaelginsburg.thrivecart.com/spending-hacker-scout/” style=”3d” background=”#008047″ size=”16″ wide=”no” center=”yes” icon=”icon: hand-o-up” icon_color=”#ff6600″]Sign up for the Scout service[/su_button]