How to Simplify Your Finances

Managing your money, paying off your debt, saving for things you want and living within your means doesn't need to be complicated.

Even if you weren't taught how to manage your money when you were younger, you can learn now, make changes and put things in place to make it easy.

Automate What You Can

Money is easier when you don't have to think about it too much. By automating anything you are comfortable with you are less likely to miss payment or get behind on your bills and more likely to achieve your financial goals.

You can request your payroll spit your pay into your regular account and a specific amount into a savings account. For superannuation, you can set up salary sacrifice through your workplace too.

Any bills you pay regularly can usually be paid weekly too. Get out your bills, split the amount into weekly (or fortnightly) payments and set up a direct debit to transfer that amount each week.

Set a reminder to review this every few months and if you cancel a service or change providers, make sure you cancel the direct debit too. We do weekly abundance meetings to review our finances but you don't need to do it that often.

I explain this more in how to get rich being lazy with money.

Have an Emergency Fund

An emergency fund helps you stay out of debt because when things happen, you can pay cash instead of relying on a credit card.

My preference has been $2,000 a bare minimum but most of my emergencies have cost more than that so I aim for more.

Read how to handle financial obstacles for tips on building an emergency fund, emergency plans and what to do.

Avoid Debt

Living a debt free life means you never have to worry about the debt payments and you have more money available to invest or spend on what is important to you in the present.

Debt can be unavoidable at times, so if you find yourself having to deal with it, use these 6 tips to easily pay it off.

Then focus on how you can avoid it in the future. For example, you know you will have to replace your car eventually, so start saving for it now.

If you look at your life and the large expenses you are going to face in the future, you can plan them into your budget now.

This way, you aren't taking on debt unnecessarily or if you choose to utilise a credit card for points or take advantage of a special offer, you know you have the cash available to clear it quickly and avoid paying any interest.

There often isn't a discount for paying cash anymore but having the cash available to you gives you options and means you are not desperate for that loan or credit card to be approved when you need something.

Search for Missing Money

Check if you have any old superannuation accounts or other money owing to you. We've had readers find as much as $20,000 when doing this search.

Know Your Why

This goes for both the motivation of your goals (so why you are saving) and the why behind your spending habits and money story.

What we are taught in our youth sticks with us and forms the basis of our habits which we are often unaware of.

Read The Psychology of Money to learn more about how and why you do what you do when it comes to money so you can make better choices.

Create a Realistic Budget

Too many people create a budget they cannot stick to. It's their "ideal" or "if everything goes right" type budget but as we all know, life doesn't go to plan.

Creating a realistic budget based on your actual spending then looking at ways you can cut it and save more is a better option.

How you choose to budget is up to you. It can be as simple as tracking it all, using an app like WeMoney or spreadsheets. Some people budget every cent, others use the bucket system from The Barefoot Investor.

Find what works for you. Check out how to create a budget and stick to it plus how to budget on one income.

How to Get the Confidence To Increase Your Income

Asking for a raise, updating your LinkedIn profile, and starting a business or side hustle might all sound great but it takes confidence.

At different times in my life, I struggled with confidence. Check out 20 ways to build self-confidence for tips I used to overcome this and make more money.

In my life, I have seen the direct connection between confidence and my money. The more confident, happy and focused I am, the more money flows. I see opportunities and have the headspace to act on them.

When I am stressed, scared or struggling, I seem to struggle more.

This is easier said than done because many circumstances in life can cause trauma and stress. Therapy can help a lot as can learning about trauma.

How To Get Your $125 Bonus From ING

If you are a new customer of ING you can get $125 for opening an everyday account with them by doing the following steps:

1. ​Open an everyday account, put the promo code CNW116 in the promo box (you must use the code to get the $125 bonus), and complete all the steps below in the first month.
2. Deposit $1,000 into the account such as your income or Centrelink payments
3. Make 5 settled transactions
4. Open a Savings Maximiser (current interest rate is 5.5%)
5. Deposit any amount into the Savings Maximiser

Then you get your $125 the following month when the promotion is running. Promotion periods vary. The current promotion runs until 31 March 2025.

What I Am Reading

Here are some books I recommend to make money easier and more meaningful to you:

​Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin

​Think And Grow Rich by Napoleon Hill is a classic that will shift the way you think about money.

​Make Money Easy: Create Financial Freedom and Live a Richer Life by Lewis Howes comes out next month but I love his podcast and other books so I know it will be great. You can preorder it now.

​The Richest Man in Babylon by George S. Clayson is the first money book I ever read. This is a modernised version but following the principles in it will make money extremely easy for you!

Discounts For You!

Food and Alcohol

FREE HelloFresh box: New customers only. We've used HelloFresh for years so grab your free box here!

Up to $200 off YouFoodz: Try the healthy meal delivery plan for less with up to $200 off YouFoodz.

Good Pair Days has a $200 welcome gift with their wine.

VINOMOFO has up to 75% off wine plus free shipping​

Up to $190 off Marley Spoon: but this is split over your first 4 boxes. Grab your $190 here.

Up to $144 off Dinnerly: one of Australia’s cheapest meal delivery services. Split across your first 3 boxes. Get your $144 discount here.

EveryPlate has meals as low as $2.19 with this discount.

1500 bonus points and 10% off groceries with Everyday Extra.

T2 has a selection of special offers for Lunar New Year.

FREE Money

Up Bank offers $20 instantly! I’ve been using them for 2 years now both in Australia and overseas. Get your $20 here.

CoinSpot offers a sign up bonus of $10 in BitCoin when you invest $10 here.

​Score a bonus $20 when you sign up​ to Cash Rewards and buy something worth over $20 online where you normally shop.

​Shopback offers $5. Be sure to sign up to both because you will get cashback on ALL your shopping at stores they are connected with.

$5 Cash from WeMoney: Track your money easily and for free with WeMoney and get a bonus $5 when you join and connect your first account. Use the code GHPT8091 to get your $5 here.

Other

LoveHoney is an adult store that offers up to 70% off lingerie and adult toys.

Ryder Wear is my preferred activewear and you get 10% off your first order plus they often have 80% off sales.

The Thrifty Issue Community

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