Each week we ask a question to help you focus on an area of your finances that might need a closer look. As we wrap up the series for this year, we want you to ask: What’s one thing I can do to improve my finances next year?
Working through our finances can feel daunting for most of us. There are so many areas that need so much work. It’s not a matter of ‘just save more money’ or ‘just sort out your super’ or ‘just start investing’. There’s no ‘just’ about it. We need to do it all.
That feeling of having to do it all can completely overcome us and instead we do nothing.
Here’s the thing: doing one thing is better than doing nothing. So, instead of letting the massive to-do list overwhelm you, just write one thing on the list.
Focus on one thing
Ask yourself this: what’s one small money thing you can start doing to improve your finances in the new year?
It’s a simple question, so don’t get caught up in over-analysing an answer. Analysis paralysis means that researching what your ‘one thing’ should be will lead you right back to doing nothing. Thinking or researching isn’t enough: you need to take action.
Here are the areas that you might take your one thing from and some resources to help you. Again, just have a quick read through, pick a focus (any focus) and make that your own.
I want to save more money
If saving more money is going to be your focus, here are some tools to help:
- 19 pain-free ways to save money… right now!
- Yes, you can save a million dollars – guaranteed
- 15 simple ways to save stacks on your groceries
- I saved $5,416.78 just by making three phone calls
- How to save money (without feeling like a cheapskate)
- 5 key financial habits of highly effective money savers
- 10 easy tips to help feed your family on a budget
I want to maximise my super
Reviewing your super makes sense, no matter how old you are. Many Australians are missing out on plenty of money by never reading their statements or analysing their fund. Here’s where to start:
- How healthy is your super balance?
- What’s super stapling and do you have to do anything?
- 4 key things you need to do to maximise your superannuation
- Check your super balance – you could be getting ripped off
- How much super should you have by now? (Bet it’s more than you think!)
- A super strategy for self-employed entrepreneurs
- The best superannuation funds over the past year
- 6 strategies that can supercharge your super
I want to spend less money
Spending less makes it much easier to save more (see above). Here are loads of great tips to keep more money in your pocket:
- 101 frugal tips to help you live a richer life
- How to spend less on socialising so you can do more of it
- 9 ways to have a big night out with little spend
- 3 simple tips to stop overspending
- 16 ways to look luxe for less and save yourself a fortune
- Stop wasting your money on bank fees
- Sort your shit out and retire rich
I want to earn more money
If making more money is your one thing, there are a few different tracks you can take. Try one of these:
- How to set yourself up for a pay rise
- 5 easy ways to make some extra cash
- How to make money fast: 7 ways to earn extra cash
- Proven strategies to get the pay rise you deserve
- How to turn your hobby into a side hustle
- How to start a side hustle you can sustain
- 10 business lessons from a lemonade stand
I want to start investing
If you’ve got money sitting in a savings account, it’s not doing much for you. It makes sense to put it to work. Here’s how:
- 5 foundations for building a property portfolio
- Want to become a property investor? 6 simple steps to becoming a landlord
- 15 of the best money books
- How can absolute beginners get started investing?
- How to get started micro-investing and why you’ll want to
- 13 golden rules of investing
- What is ethical investing?
- 3 top tips for getting into the sharemarket
- Breaking down the sharemarket jargon
Whatever your one thing is, just get started. The beauty of selecting one thing to focus on is that you can put all your energy into getting it right. Rather than putting all your energy into avoiding your bank account.
You can do this. There are small changes to be made in your focus area that will amount to big dollars. You just need to consistently show up and do the work to improve your habits.
Once you’re nailing your one thing to improve your finances, you can get started on the next thing!
Find the rest of our Money Focus series here.