Money focus: What's one thing I can do to improve my finances next year?

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:

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:

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:

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:

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:

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.