One of the silver linings to emerge from recent interest rate rises is our awareness of spending habits. To start the new year off on the right foot, here are a few tips on how to be more money-savvy this year.


Track your spending

Many of us have a general idea of where our money goes, like how much we spend on rent and food every week, but it’s likely that on closer inspection we’d find expenses that we may not even remember! Most banks have the ability to download transaction into a spreadsheet to make it easier to sort and tally the information. Your lender may have a spending tracking facility or you may choose to use an app to categorise your expenses. Whatever tool you choose, doing this first step gives you the information you’ll need to really take control of your money. If you need help with this, just reach out!


Set your budget

If you’ve already got a budget, now is the time to review whether it is still working for you, or whether there are improvements you can make. If you’ve been tracking your spending, reviewing your budget should be pretty easy.  If you are one of the many Australians who don’t have a budget at all, then creating your budget may feel daunting, so a good first step is to visit the website. Amongst their free tools and resources, you’ll find a comprehensive budget planner to help you get in control of your financial life, as well as simple, practical ways to save money.


Review your loans

Loans are settled at a moment in time, and it is worthwhile reviewing them regularly to check if they are still market-competitive. The lending environment is complex, so most people will need help to understand how their current lending stacks up against other options, so reach out to us today on how we can help!!