People often ask me, ‘What is the secret to being good with money?’ The answer I give is that there are a few basic financial habits that can really make a difference. Understanding money really does pay off.

Understanding money means understanding how much money you have and where it goes. It means being in a position to make the most of what you’ve got. And it means protecting what’s yours.

No matter who you are or what you earn, it’s easier than you think to take control of your money. This handbook can help you to understand money better. Obviously it can’t provide detailed advice, because that depends on your personal circumstances, but it does contain loads of information that can help you to make your money work harder for you.

I encourage you to make use of the information in this book and on the Financial Literacy Foundation’s website www.australia.gov.au/understandingmoney. Remember, it’s your money, and learning how to make the most of it can really pay off. Put yourself in charge.

Paul Clitheroe
Chairman, Financial Literacy Foundation Advisory Board

Download Understanding money: How to make it work for you

PDF version, 1.8mb, 46pages.

© Commonwealth of Australia 2006. ISBN 0 642 74338

A few simple things done regularly can make a real difference...

Have a plan for your money and stick to it.

Prepare a budget for yourself and keep it up to date.

Establish a savings habit – save as much and as regularly as you can.
There’s more you can do too:

• Take a hard look at your loans and credit cards and see what scope there may be to consolidate them or adjust some of your spending habits.
• Look for opportunities to make your money work harder by investing, and check if you’re contributing enough to your superannuation.
• Think about strategies for protecting your money, such as making sure that you have the right insurance.
• Shop around and get information and advice if you’re not sure about managing your money or if you need help.

This handbook will provide information on these and other issues to help you better understand your money.

Visit Understanding Money's Web Site

Our Understanding Money handbook has loads of information that can help you make your money work harder.

It has information and tips on budgeting, saving, investing, being in charge of your debt, superannuation, protecting your money, and how to get good advice.

Comments (2)

Show/Hide comments

Name

Email

Website

Title

Comment

smaller | bigger

Add Comment