“The most effective way to do it, is to do it” Amelia Earhart
If your finances feel out of control, you’re among friends. A recent report¹ suggested that up to half of Australians are stressed about their finances. Happily, getting a grip on this may be easier than you think. A good first step is to make everything simpler, so at least you know where you are. You can start this right away.
Free yourself from debt
Combining old school budgeting and modern technology is a great place to start. AMP’s budgeting tool can help you kickstart the process. You can see your inflows and outflows on a daily, weekly or monthly basis - whatever works for you.
Cutting the cost of credit cards
Although easy access to credit can be great at the right time, it’s all too easy to get carried away. Some of us have many cards and don’t realise how the hidden costs add up. Reducing your cards and moving to those with lower interest rates is a good first step. You might also like to set up direct debits, to help you keep on top of paying your bills.
If it all sounds like hard work…
There’s nothing like outsourcing, particularly if you’d rather be doing something else. Spending a few minutes setting up the right accounts can save you time and hassle:
- AMP’s Bett3r account helps you budget by earmarking your available funds into buckets of pay, save and spend.
- You can also use My AMP to manage and track your goals as you go.
Still too hard? Try a professional
If you’d rather hand the whole thing to someone else and are willing to pay a professional, a financial adviser can also help you work out the right way forward for you, and help you set and stick to your goals. Here you can find an adviser.
¹ AMP Financial Wellness report, 2019
Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek professional advice before making any financial decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability for any resulting loss or damage of the reader or any other person.
The product issuer of the AMP Bett3r Account is AMP Bank Limited ABN 15 081 596 009, AFSL 234517.