Top 10 smart money tips for 2013

Don’t let another year go by without sorting out your money. Here are the top ten things you can do to make 2013 really count.

1. Set your savings goals

Identify some specific, realistic saving goals and put them up on your fridge so you see them every day. See our saving tips on creating achievable goals and how to make them happen.

2. Talk turkey with your partner

Talk to your partner or family about your financial goals and what you want to achieve together so you are on the same page. Together you can put a plan into action. See relationships and money.

3. Automate your savings

Open a separate high interest savings account and set up an automatic transfer for a fixed amount each pay. That way your money will grow and you can enjoy the rewards faster. See direct debits and savings accounts.

4. Tackle your credit card debt

If you’ve got a credit card debt, treat it as a priority. Repay more than the minimum required each month. Money Smart’s credit card calculator can help you work out how to reduce your debt faster.

5. Spend your own money

A debit card might be better than a credit card as it only uses money in your account. It’s a great way to make you think before you spend. See debit cards for more.

6. Keep tabs on your daily spending

Download MoneySmart’s ‘Track My Spend’ app and see what you really spend each day. Once you know where your money’s going, it’s much easier to see where and how, you can save money.

7. Get up close and personal with your super

Super is your money. Make sure you know where it is and how much you’ve got. If you’ve got super in different places, think about consolidating it into one fund. There will be less paperwork and it’s easier to see how your super is growing. See consolidating super funds.

8. Get ahead while rates are low

With interest rates so low, a great way to get ahead is to keep your repayments the same as they were when rates were higher. It’s effectively like making extra payments into your mortgage. If you keep that up you can save thousands in interest and cut years off your loan. More on making repayments.

9. Check what your insurance really covers

Don’t just think about price when you are buying insurance. Make sure you have the right type and level of insurance. If you do need to make a claim, it’ll be what your policy covers that matters most. See insurance for more.

10. Take your money’s temperature

Do our Money Health Check – it will tell you where you are doing well and where you could do better. Devise a clear money plan and make 2013 your best year yet.

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