Five ideas for your financial wellbeing WOF check

3-4 minute read

A little time putting your money under the spotlight is a surefire way to keep your finances running smoothly.

Set aside 30 minutes this month to check-in on your financial wellbeing. There’s no pass or fail, just five easy steps that could help tune-up your current situation. Ready to take your finances for a spin?

Idea one: Know where you’re at

The first step to putting your money in the best long-term shape is to get a handle on how you’re tracking right now. You can find out by answering a few simple questions using the ANZ Financial Wellbeing Calculator.

Idea two: Boost your savings motivation

Visual cues are your savings trump card. That’s why we’ve made it possible to add a picture and name to your accounts in the ANZ goMoney mobile app. Including a photo of what you’re saving for is an easy way to help you stay focussed, because it literally keeps your eyes on the prize. 

Idea three: How to divide and conquer

Simplify the way you organise your money with the help of buckets – they might not be glam, but in terms of managing your money, they're really useful. Organising and naming your accounts for different things, like 'everyday spending', 'treats' or 'savings', could help you get into the habit of moving money into them the moment your pay lands. And good habits equal better financial wellbeing.

Idea four: Unsubscribe to help your savings thrive 

Subscriptions are the best. As long as you’re using them. So, take a little time to rummage through your bank account transaction history and app store subscriptions to see if there’s anything you could ditch. Simple savings like this are a great way to boost your financial wellbeing.  

Idea five: How it pays to shop around

We all need to stay in touch, shower, and run the washing machine. So, make a quick online search to compare companies, as there’s always a new offer to be had and taking advantage is a great way to save. It might even prompt your current provider to cut you a better deal. Shop around – your savings account will thank you.

A regular review of your financial wellbeing isn’t just less overwhelming, it helps you track your finances and keeps you on the road to your savings goals by putting you in the driver’s seat.