How to Give Yourself a Pay Rise Without Earning More

The contents provided on this page are for informational purposes only and do not constitute financial advice. Consider your personal circumstances and objectives before making any financial decisions.

With the rising cost of living in Australia, it can often feel like your wages disappear the moment they hit your bank account. Many Australians wish for a salary increase, but what if you could give yourself a "pay rise" without actually earning more? By making small changes to how you manage your money, you could increase your income, reduce financial stress, and start getting ahead!

Here’s how you could "pay yourself more" without asking your boss for a raise.

Step 1: Cut the "lazy money" from your budget

Lazy money refers to cash that might leak from your budget. You probably didn’t intend for this to happen (and might not even realise!) but the extra dollars here and there could be costing you in the long-term. Think about subscriptions you don’t use, overpriced bills, or impulse purchases. Cutting back on these doesn’t mean sacrificing quality of life—it just means being smarter and more intentional with how and where you use your hard-earned money. 

Audit your subscriptions

Streaming services, gym memberships, and app subscriptions can silently drain your finances. A 2024 report revealed the average monthly spend per Australian household on streaming services was $63 – that’s $756 a year! 

With digital entertainment the norm, and plenty of services being subscription-based, it can be challenging to cut these costs. But rather than cutting everything off completely, think of this more as being selective with the subscription you have.

You could explore lower-cost options with subscriptions like streaming services. Or consider going month-to-month with some subscriptions that offer the option so you’re not locked in and avoid the chances of going months paying for something you’re not using! 

✅ One thing you can do today: Compare subscription services. 

Websites for comparing subscriptions: 

• Streaming services – CHOICE, CompareTV
• Gym memberships – Canstar, Finder
• Meal kit services – CHOICE, Canstar 

See more on saving on subscriptions here. 

Reduce energy and phone bills

Common household bills are another source of “lazy money” leaking from your budget – it can be easy to overpay on your phone and energy bills just by not shopping around! 

Comparison websites can help you see what other providers are charging, stack this up against your current plans, and potentially find a cheaper provider. You could all consider options like downgrading phone plans based on your actual usage, helping you pay less and save without losing any essential features. 

✅  One thing you can do today: Compare electricity, gas, and mobile plans. You could start with Beforepay’s Compare and Save platform. 

Step 2: Pay yourself first

One of the best ways to create financial stability is to prioritise your own savings before spending on non-essentials.

Automate a savings transfer.

Instead of saving “what’s left” at the end of the month (which often isn’t much), consider setting up an automatic transfer to savings the day you get paid. By treating savings as a fixed expense, you’re more likely to build a financial cushion over time.

To make saving even easier, you could consider opening a dedicated savings account that offers a high interest rate and no easy-access debit card. This helps to create a psychological barrier to spending and helps your savings grow faster.

✅ One thing you can do today: Research high-interest savings accounts and set up an account that rewards you for consistent deposits.

Example: If you earn $65,000 a year ($1,250 per week after tax) and set aside just 5% ($62.50 per week), you could have $3,250 saved in a year—without thinking about it!

Website to compare high-interest savings accounts: 

• Finder
• Canstar
• InfoChoice

Step 3: Maximise cashback and rewards programs

Many Australians overlook the free money available through cashback apps and reward programs.

Apps like ShopBack and TopCashback can give you money back for purchases you were already going to make. This can be an easy way to get extra money on purchases like groceries, fuel, or online shopping.

Meanwhile, many supermarkets and petrol stations offer reward points that can be converted into discounts or cashback. If you regularly shop at the same places, using their loyalty programs could lead to big savings over time.

✅ One thing you can do today: Check that your Flybuys or Woolworths Everyday Rewards is linked to your purchases and watch out for bonus points offers! 

Step 4: Time your expenses to match your cash flow

One major reason people feel "broke" before payday is poor timing of bill payments.

Align bills with your pay cycle

If you get paid fortnightly, but your rent, electricity, and insurance all fall at the start of the month, cash flow issues arise. Instead, consider spreading out payments so they align with your income schedule.

Some providers may also allow bill smoothing, where you pay a set amount each month rather than large, irregular bills. This helps with budgeting and reduces the stress of big lump-sum payments.

✅ One thing you can do today: Contact your utility and insurance providers to see if you can adjust your billing dates.

If you need extra cash, you could also get bill help with Beforepay Pay Advance. 

Step 5: Use salary packaging (if eligible)

If you work in healthcare, education, or the non-profit sector, you might be eligible for salary packaging, which allows you to pay expenses before tax, increasing your take-home pay.

Salary packaging can cover expenses like rent, mortgage payments, childcare fees, and even car leases. By paying these expenses before tax, you effectively increase your disposable income.

✅ One thing you can do today: Check with your employer or HR department to see if you qualify for salary packaging benefits.

You don’t need a pay rise to increase your financial breathing room. By cutting unnecessary expenses, automating savings, using cashback programs, managing bill timing, and taking advantage of tax benefits, you can give yourself a "pay rise" without changing jobs.

Try implementing at least two of these steps this month and see how much more money you have left over!

Disclaimer: Beforepay Group Ltd, ABN: 63 633 925 505. Beforepay allows eligible customers to access their pay and provides budgeting tools. Beforepay does not provide financial products, financial advice or credit products. The views provided in this article include factual information and the personal opinions of relevant Beforepay staff and do not constitute financial advice. Beforepay and its related bodies corporate make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of the contents of this blog post and do not accept any liability for any loss whatsoever arising from the use of this information. Please read our Terms of Service carefully before deciding whether to use any of our services.