Take Control Of Your Money
Developed with award-winning financial planner Helen Baker.
A FREE program that teaches you how to build a better financial relationship.
AS FEATURED IN
Our Promises
Learn how to save
Learn how to make more money
Learn how to remove debt
Learn how to build a retirement fund
How it works
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Create a free secure account
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Read the easy to understand guides
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Follow the simple tasks for each step
About Helen Baker
Program steps
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1. Set up an emergency fund
An emergency fund is your financial safety net and the foundation of your financial security. When something unexpected happens, whether you lose your job, need to move house, or have a sudden medical issue to deal with, an emergency fund is there to keep your life and financial goals on track.
If you’re one of many Australians who doesn’t have the available money on hand to pay for an emergency situation or bill, this is where you need to start.
2. Get your super on track
Your superannuation will build and support you over the long term if you take the time to understand how it works today.
Even small changes now, such as choosing an appropriate fund and considering extra contributions, can make a big difference down the track.
This is thanks to the power of compounding investment returns. In other words, you earn interest on your interest, allowing your retirement savings to snowball.
3. Flatten debt
If an emergency fund is the foundation of your financial security, having too much bad debt can be what destabilises you.
For some of us, a level of debt is a necessary part of creating the life we want. The key is knowing good debt from bad debt, and keeping it manageable.
Paying down debt faster can be a great way to save on interest and improve how you feel about your finances.
4. Household audit
A household audit compares your existing household utilities and other outgoing expenses to ensure you aren’t overpaying on electricity, gas, broadband, online subscriptions and more.
It is also a valuable savings tool allowing you to reduce your outgoing expenses and increase the available money you can put towards an emergency fund, reduce debt or save for retirement.
You can also take advantage of new offers and deals while promoting a habit of mindfulness towards your outgoing expenses.
5. Get covered
Insurance sometimes gets a bad rap. But the right type of cover can be incredibly beneficial in protecting your finances and your family's future. It can make a life-changing difference if you need to make a claim.
Understanding your options and what cover you need can help ensure paying for insurance doesn't make a massive difference to your budget.
When it comes to preparing for your and your family's future, it can also be beneficial to have a will prepared. This can bring certainty and peace of mind when it’s eventually time for your estate to be divided and distributed.
6. Your retirement number
How much money will you need to retire? And how much do you need to save to achieve that goal?
Figuring out your retirement number is a crucial step in understanding your current financial position and what you’ll need to do to reach retirement with the nest egg you want.
7. Set goals
Ready to commit to your financial future? Setting goals can be one of the most enjoyable parts of your relationship with your money.
They allow you to plan for the future you want and prioritise how you spend your time, your energy, and most importantly, your money.
It's important to set exciting but achievable goals that you and those closest to you can get behind. That way you'll be more likely to maintain the motivation you need to reach them.
Written by
Financial Expert
Helen Baker
Reviewed by
Editor
Sean Callery
Important information: Any advice or information on this site is of a general nature only and has not taken into account your personal objectives, financial situation and needs. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your personal objectives, financial situation, and needs. Helen Baker is an Authorised Representative(s) of Godfrey Pembroke Group Pty Ltd ABN 38 078 629 973, AFSL number 245451, an Australian Financial Services Licensee, with offices at The Bond, Level 3, 30 Hickson Road, Millers Point NSW 2000.
