Putting a brick in your toilet, a $4 Bunnings buy, and hitting Coles or Woolworths at the right time of day are just some of the money tips savvy Aussies are using as the cost of living hammers household budgets.

Australians are under serious financial pressure right now, with the cost of essentials like petrol, groceries and energy soaring, the possibility of another rate hike, and the housing market in crisis.

But in true Aussie fashion, when a call out went out for tips to manage costs, people came out in droves to share. From odd shower acts and energy efficient purchases, to supermarket hacks and debt squashing techniques - here's what you can put into place to start saving money now.

Do you have some great cost-cutting tips? Let us know at yahoo.finance.au@yahooinc.com

Energy and water bills

Firstly, if you're feeling the pressure on energy, you'd be pleased to know you could be eligible for a rebate worth up to $500. Check out our explainer here.

Others have some more creative techniques to bring down the cost of power and water.

“I keep a bucket in the shower to collect the water while you wait for the hot water to arrive. Mine keeps all the verandah pot plants watered,” one person shared on a money saving Facebook group.

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“I boil the kettle and fill the thermos once a day for cups of tea saves boiling the kettle numerous times,” said another.

Others had more drastic cost-cutting methods, including manipulating their toilet.

“Put a brick in your toilet tank. When you flush, not all that water is needed. A brick reduces how much water gets flushed,” a person said.

“Battery-powered fairy lights from Bunnings are $4 each, a set of 30 Batteries is $11 and lasts me a good few months," they said, adding the fairy lights saved money on electricity and made the house look "pretty".

“I only switch on the hot water about twice a week, so it's now only heating up for 20 hours a week instead of 168 hours a week ... I am saving heaps in this area," said another Australian.

The general consensus on managing bills was having a direct debit amount transferred out weekly to put yourself in credit.

Groceries and household staples

Unsurprisingly, the rising cost of groceries was another financial pain point for Aussies, with Woolworths and Coles recently recording multi-billion dollar profits. Despite the cost of fresh food now starting to stabilise, many were still keen to discover saving suggestions on their weekly shopping bill.