Join our Newsletter How to keep on top of your bills in 2012 At the beginning of each New Year, most of us plan to take control of our finances by creating a budget guiding us towards our financial goals. When it comes to budgeting, most people usually look at their historical income and expenses and extrapolate them out over 12 months to give them a snap shot. Personally, the most crucial step in starting off the New Year is to look into the detail of each expense and find ways of reducing your outgoings.  This is the step in which most people fail to look at the detail because of how time consuming such task may take.  As a result, such time eliminates the opportunity to increase the surplus (income minus expenses) in the budget. Electricity & Gas: If you live in Victoria you would have received a letter from your current electricity provider informing you of a rate rise.  On average the increase in electricity cost for Victorian's in 2012 will be more than $150.  This is a good place to start, comparing electricity retailers as this is one expense which you can save hundreds just by spending some time comparing retailers.  The average increase in Gas will be around 8%. You may find that in most instances the retailers offering the bigger discounts will come with clauses such as contractual periods, pay on time, direct debit, and online statements.  If either of these options is not suitable