Category: Money Matters
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Sub category: Saving
10 April 2014

4 tips for getting your finances back on track this Autumn

Daylight saving time may be over but don’t let your enthusiasm for saving money start to wane. These darker days are the perfect time to set aside some time to manage your money. Here are 4 tips for reinvigorating your personal finances this Autumn:

1. Do a financial health check

If you’re not sure which areas of your personal finances could do with some attention, then carrying out a financial health check could give you some guidance. This health check tool from MoneySmart aims to help you take control of your finances by giving you a snapshot of your financial ‘health’. As well as highlighting areas for improvement across various aspects of your finances – including  managing your expenses, protecting your assets and setting financial goals – it also gives you some useful tips on how to make the changes.

2. Revisit your savings goals

Remember those goals you set at the beginning of the year? Even if you’ve been saving diligently, it could be a good idea to revisit your goals and check that they are still valid. If your savings have been accumulating over the past few months, knowing you are making good progress can give you an extra motivation boost!

If your enthusiasm for saving has declined in the past few months, here are a few savings tips to help you get back on track.

3. Go after a better deal

Whether it’s paying for your travel insurance, your mobile phone or your utilities, there is often potential for saving money where you least expect it.  Rather than automatically renewing your contracts, take some time to compare alternatives – you may find that you could make substantial savings just by switching your provider.

Also check your direct debits to make sure you are actually using the services you pay for. For example, if you have a full service TV package, then there could be opportunities to reduce your outgoings by cutting out movies or sports – optional extras that you may not even use.

4. Consolidate your super

Want to take more control of your superannuation but not sure how to go about it? Taking a close look at your annual super statements and obtaining a current snapshot of your super accounts could help you work out whether you’re getting good value for money.

According to the ING DIRECT/Financial Services Council report into Australians’ attitudes towards superannuation (2013), 28% of Australians have multiple accounts – which could mean they are paying multiple fees.  If you have more than one fund, then you might consider consolidating your super to help you manage your money and potentially save on fees.

The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Home and Contents Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms

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