Graeme Butler’s Budget Busters: Tricks to boost your savings and avoid sneaky fees amid cost-of-living crunch

7NEWS presenter Graeme Butler has consulted a financial advisor and revealed the simple tricks to boost your savings “if a pay rise isn’t on the cards”.

Speaking on his Butler’s Budget Busters segment this week, he explained that people’s savings accounts have taken a hit but there is something you can do.

“You have to work with what you’ve got,” he said.

Butler spoke to RSM financial advisor Rob Zammit, who revealed the simple way to ease financial pressure immediately.

“Talk about it, identify the issue at hand and set aside time to deal with your finances,” he said.

But this is just a starting point. Butler acknowledges the economic pressure people are under and believes avoiding debit card fees is the next step.

“In this cost-of-living crunch, our wages are no match for stubborn inflation at the checkout,” he said.

“Use cash and avoid sneaky debit card fees which really add up.”

Butler goes on to suggest putting a lower limit on your credit card to avoid crippling interest and to abandon auto-bill subscriptions.

To find out the age group whose savings accounts have been “hit the hardest” watch the footage at the top of the page.