Money tasks to set on autopilot

Set yourself up to be better off in the new financial year

As the new financial year draws closer, it’s a good idea to set yourself up to be better off. 

By automating some day-to-day money tasks, you can focus on the big picture and get yourself on the road to financial success.

1. Reach a goal with savings

You may have a goal, or several, that you’d like to reach in the shorter term. Whether it’s buying a new car, saving enough for a deposit on a home or funding your next great escape, decide how much you need as a lump sum then work backwards to calculate how much to save each pay day.

Set up a savings account and then arrange a regular direct credit from your salary. Aim to earn some interest along the way as an added bonus, and make sure you avoid any high fees.

2. Build your super nest egg

Super’s a tax-effective way to save—you’ll have the chance to make your future self super happy too.

You can ask your employer to automatically allocate additional before-tax dollars to your super each pay day, which is known as salary sacrificing. Use our salary sacrifice calculator to see how these before-tax contributions can not only help you keep more of your earnings—rather than letting them go to the tax man—but can make a big difference to your retirement nest egg.

3. Automate your way to being debt free

If credit card debt is weighing you down, aim to get rid of it by firstly putting a hold on adding any more to it, and then automating the repayments, so you know a certain amount is coming off at a certain time each fortnight or month.

Set up a regular payment into your credit card and aim to repay at least the minimum monthly amount before the due date rolls around. You’ll have peace of mind that you’re avoiding any late payment fees and will enjoy seeing the amount you owe consistently reduce.

4. Enjoy day-to-day luxuries too

Consider setting up a bank account for flexible expenses like eating out or shopping for a new pair of shoes. That way you can enjoy some day-to-day indulgences while working towards your big picture goals.

5. My AMP makes it even easier

Don’t yet have the My AMP app? Download it now to help you keep track of your finances. You can set alerts for money going into your super and savings accounts—and money going out.

You can do it!

Book some time in your diary to map out your goals for the new financial year. Then use our tips to put some money tasks onto autopilot. If you need help with setting and reaching your financial goals a financial adviser may also be able to help.  

Manage your money the smart way

The new AMP Bett3r Account is a smart bank account that helps you manage your money and save for your goals.

Find out more

Win a Fitbit Blaze

Simply register or log in to My AMP for your chance to win

Log in

Explore your goals

Try our online tool to explore, prioritise and create your own goals timeline.

Start exploring

Savings calculator

Whether you're saving for a home of your own, a holiday, a car or for later down the track, AMP Bank's Savings calculator can help you plan and manage your savings goals.

Start now

Want to keep up to date with the latest news?

Sign up now

Recommended articles

Important information

Show more

© AMP Life Limited. This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. 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 qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.