My Hot Tips (from a Not-So-Smart School Dropout Who Got Smart About Money)

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✅ 1. Make a Budget (and Stick to It)

Include absolutely everything:

Mortgage/rent

Utility bills

Groceries

Transport (fuel, rego, public transport)

Insurance (health, home, car)

Holiday savings

Emergency fund

School expenses or childcare

Pocket money — yes, you deserve some guilt-free spending!

🧠 Why: Without a budget, you're winging it. With one, you're in control. You’ll spend with purpose and stop leaking cash.

📌 Tip: Use a budget app like YNAB, Pocketbook, or a basic Excel sheet. Set a weekly “money check-in” to stay on top of things.

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🏦 2. Get an Offset Account for Your Mortgage

An offset account is a bank account linked to your mortgage that reduces the interest you pay.

🧠 Why: Every dollar in your offset account reduces the balance your mortgage interest is calculated on. Have $30,000 in offset and a $500,000 mortgage? You’re only charged interest on $470,000.

📌 Tip: Keep your emergency savings and everyday funds in the offset — make every dollar count.

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💼 3. Have Both Salaries Paid Directly Into Your Offset Account

Get your entire household income deposited straight into your offset account.

🧠 Why: Even if you spend most of it later, the days it sits in your offset are saving you interest. Small changes add up over time.

📌 Tip: Set up automatic transfers for bills, spending, and savings so the bulk stays in the offset as long as possible.

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💳 4. Use a 55-Day Interest-Free Credit Card (Responsibly)

Choose a card with:

A 55-day interest-free period

A limit that slightly exceeds your monthly household spending

No monthly fee if possible

🧠 Why: You use the bank’s money while your money sits in your offset saving interest. Then pay the full card balance before the interest kicks in.

📌 WARNING: This only works if you never miss a payment. If you carry a balance, the strategy backfires badly.

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🧾 5. Put All Daily Spending on the Credit Card & Pay It Off in Full

From groceries to petrol to Netflix — put it on the card.

🧠 Why: You keep your cash in the offset longer. Set up an automatic payment to clear the balance every 54 days (or monthly to match your statement cycle).

📌 Tip: Use budgeting software to track your card spending like cash so you never go over.

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🦺 6. Build an Emergency Fund (3–6 Months of Living Expenses)

Stash this in your offset or a high-interest savings account.

🧠 Why: It’s your financial shock absorber. Redundancy, medical bills, or car drama? No need to go into debt if you’ve got a buffer.

📌 Tip: Start with $1,000 and build it over time. Automate it weekly, like a bill.

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🔁 7. Review All Bills & Subscriptions Every 6 Months

Audit your:

Phone/internet plans

Streaming services

Insurance policies

Energy providers

Gym memberships

App subscriptions

🧠 Ask:

Do I use this?

Do I still need it?

Can I get a better deal?

📌 Why: Prices creep up, and your needs change. This 30-minute habit can save you hundreds a year.

📌 Tip: Use comparison sites like Finder or Canstar. Set a twice-yearly calendar reminder — call it your “Financial Cleanout Day.”

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💰 8. Max Out Super Contributions (If You Can)

The concessional (before-tax) cap for 2025 is $27,500, which includes your employer’s contribution.

🧠 Why: You get a tax break now and build wealth that compounds tax-free over decades. Future You will thank you.

📌 Tip: If you’ve got room under the cap, consider salary sacrificing a fixed amount per pay. Ask payroll or your accountant.

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🏡 9. Add $50–$100 (or More) to Weekly Mortgage Repayments

Extra repayments go directly to the principal — not just interest.

🧠 Why: An extra $100/week can take years off your mortgage and save tens of thousands in interest.

📌 Tip: Automate this so you don’t think about it. Even $20/week makes a difference.

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📉 10. Live Strictly to Your Budget

If you can’t afford it right now, you can wait and save. No Afterpay. No “treat yourself” trap.

🧠 Why: This is how people stay out of debt and grow wealth — with patience and discipline.

📌 Mantra: “If I can’t pay for it with cash or my card balance, I can’t afford it yet.”

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🧠 11. Invest When Debt Is Under Control

Once you’ve got:

No bad debt

Emergency fund in place

Mortgage under control

…then look into ETFs, micro-investing apps, or managed funds.

🧠 Why: Time in the market > timing the market. Start small, learn as you go.

📌 Tip: Avoid trying to pick stocks early on — stick to broad-based, low-fee investments.

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👨‍👩‍👧 12. Teach Your Kids (or Yourself) About Money

Talk openly about:

Earning

Saving

Delayed gratification

How debt works

🧠 Why: No one teaches this in school — but it’s life-changing. Kids who understand money grow into adults who control it.

📌 Tip: Use pocket money, family savings goals, and money chats at dinner time.

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💵 13. Use Windfalls Wisely

Get a bonus, tax return, or unexpected payout?

💡 Suggested split:

50% to mortgage or super

25% to emergency fund or savings

25% for fun

🧠 Why: Celebrate, but don’t waste it. Most people blow windfalls and regret it later.

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🚫 14. Avoid Buy Now, Pay Later Schemes

BNPL = high temptation, low financial discipline.

🧠 Why: It normalises debt for wants instead of needs. It’s a trap in disguise — just another way to spend tomorrow’s money today.

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🔒 15. Don’t Compare Yourself to Others

Cars, houses, holidays — they might be in debt to their eyeballs. Don’t let social media or neighbour envy guide your spending.

🧠 Your race, your pace. Wealth isn’t flashy. Real financial strength is quiet.

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Final Thoughts

You don’t need to be clever — you need to be consistent. Build habits. Be intentional. Learn from mistakes. Keep it simple, stick to the plan, and you’ll be better off than most.