10 finance hacks to boost your cash flow

Plus 100 extra quick tips that could save you thousands of dollars

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20 finance hacks to take control of your money

FINDER.COM.AU

Here’s what we’re going to do:

1. Track your spending
2. Control your recurring expenses

3. Manage your credit card debt

4. Understand what lenders know about you

5. Figure out your health Insurance
6. Save money on your car

7. Prioritise Future You

8. Think about your retirement

9. Create set-and-forget money habits

10. Lower your household bills


11. Crunch the numbers on your house

12. Maximise your savings

13. Hack your personal leave

14. Make some extra cash by using your things

15. Make even more extra cash by using your skills

16. Get smart with your shopping

17. Be rewarded for your spending

18. Get a pay rise 

19. Plan some low-cost activities

20. Set yourself up!

PLUS get these 10 additional free hacks in the free email eBook 

1.

Track your spending

Here’s how you do it:

Making a budget is like riding a bicycle: it seems impossible the first couple of times, but once you’ve learned the balancing trick, you’ll be cruising in no time. A budget helps you know where your money is going, but better still, it removes the everyday burden of having to think about your finances as much.

The whole point of a budget is to minimise your expenses and maximise your savings. If you can save on things that you don’t care about, and increase the cash you set aside each month, you can channel that towards your long-term goals like paying off debt or buying a home.

Understanding where your money is going is the key to taking control of your money - and not letting it control you.

2.

Take your subscriptions off autopilot

Log in to your bank account and go through your transactions over the last 3 months to see what bills you have coming out regularly. You don’t need to include any one-off purchases (or shopping sprees) - just recurring monthly payments that get debited each month.

Pop in your monthly income, including your pay and any other money you get regularly.

Add up your expenses, and subtract them from your monthly income. Don’t forget to include those 'invisible expenses' such as your train rides, Netflix subscriptions and house bills.

This is how much money you have as your disposable income each month. You can break this down into a weekly, or daily budget.

Don’t miss these tips:

3 Quick and Easy Wins

Use a mobile app

Do a scan for any additional recurring payments

Keep an eye on trends - and know your weaknesses.

Even though you're just looking at bills here, add up how much you've spent on regular outgoings like uber eats or your favourite pub in the last 3 months. Could you do something else with those hundreds (or thousands) of dollars?

Although you don’t have to track ad hoc transactions for this exercise, it could be a good idea to keep an eye on any big outgoings. For example, if you notice you tend to go online shopping on a Friday afternoon, identifying these spending habits could help you reduce them in the future.

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Here’s how you do it:

Review your monthly transactions and highlight any monthly subscriptions. For example:

- Streaming (Netflix, Stan, Foxtel),
- Cloud Storage (iCloud),
- Music Streaming (Spotify),
- Gym memberships,
- Audiobooks,
- News sites,
- Software services,
- Apple or Samsung linked services etc.

Cancel anything that you’re not using - and be ruthless. If you haven’t used something for more than two months, it’s probably worth cancelling. You can always sign up again down the line if you miss it. You can generally cancel online, without having to make a phone call - so do it right away.

2.

Take your subscriptions off autopilot

Don’t miss these tips:

Many subscription services offer a family discount, so if you live with other people - whether they’re family or housemates - you can switch over to a family plan and save up to $30 a month compared to if you all paid separately.

3 Quick and Easy Wins

Switch to a family package or pay yearly.

Set calendar appointments your free trials

Don’t pay for more than you need

It can be a great dea to use free trials, for example if you’re thinking about cancelling one of your TV apps, why not try a free trial of Disney+ or Kayo? Not quite ready to hand over your dreams of getting a summer bod? Why not try a gym subscription like Classpass where you can just pay per visit? That way you know how much you’d actually use the subscription before the free trial ends.

Finally, check what level your subscriptions are. For example, Netflix charges $13.99 for HD TV, but if you’re only watching on an app or tablet, you’d probably be just fine with the $9.99 basic SD plan.

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3.

Manage your credit card debt

Here’s how you do it:

2.

Take your subscriptions off autopilot

Transfer your debt to a new card that charges 0% interest on balance transfers (the longer the period, the better so you can have lower payments - more on this later).

Close your old account(s) to avoid paying any fees.

Pay off the balance transfer before interest rates apply at the end of the 0% introductory period. This period can range from 3 months to 2 years depending on your card, and after this time your interest rate will jump up. A higher interest rate could come back to bite you if you don’t pay off your balance in time.

Sally McMullen

Credit Cards Editor

Alanna Glenn

Credit Cards Publisher

Don’t miss these tips:

This new credit card isn’t for spending - it’s to help you save on interest. Balance transfer cards tend to charge higher interest rates for purchases. As your repayments automatically go towards the debt with the highest interest first, your money will end up going towards your new purchases before your balance transfer. That defeats the purpose of the card.

5 Quick and Easy Wins

Commit to no new spending on the new card.

Consolidate multiple debts

Pay more than the minimum each month.

If you have a balance on multiple credit cards, you can combine them under one account with a balance transfer. That way you’ll only need to manage one account and save money by paying no interest on your combined debt.

You’re only required to pay the minimum repayment each month, which is usually around 2% or 3% of your balance. But if you do that, you won’t be able to pay off all of your debt before the card starts charging you interest. You should aim to set up a repayment schedule to pay off your debt during the interest-free period. For example, you’d need to pay off at least $167 each month to clear a $3,000 debt on a card with 0% interest for 18 months.

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Clear the balance before interest applies.

If you don’t pay off your balance transfer full before the 0% period ends, you could fall back into debt. This is because any unpaid balance will revert to a higher rate. This could be the card’s standard cash advance or purchase rate, which is usually quite high (anywhere from 15 to 21%).

Put your credit card repayments on autopilot.

To stay on top of your debt and avoid late fees, set up an automatic direct debit to pay your credit card bill each month.

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Here’s how you do it:

When it comes to your finances, your credit score is one of the most important numbers you need to know. It's a number between 0 and 1,000 that shows where you stand based on your history. The higher your score, the better your rating.

Why does this number matter? Because this is the number that banks use when figuring out whether they’d lend you money, whether that’s a credit card, personal loan or mortgage.

A good credit score shows a lender that you have the ability to pay off a loan, while a bad score can result in your application being rejected, or paying a higher interest rate.

Even if you’re not looking for a loan right now, knowing what’s in your credit report helps if you need a loan in the future. Your report will show what’s on your file from banks, credit unions, and even phone or utility providers - plus information from public records, such as bankruptcy statements.

The good news is, finding out your current score is quick, easy and free to do.

You’ll need to fill in some personal details. To get your credit report, you’ll need your name, address and date of birth, as well as a copy of your Australian passport or driver's licence. 

2.

Take your subscriptions off autopilot

4.

Find out what lenders know about you

Your details will be checked by the credit bureau. It takes a little time to run all the details through the system, but generally speaking you should get your score in around 10 days.

You’ll be sent a copy of your credit report and score.

Don’t miss these tips:

Your payments are listed on your credit report and you can improve your score by paying on time. Making additional repayments can also be a good option to consider because you’ll pay off your loan faster, and your score will improve when the account closes.

5 Quick and Easy Wins

Make your credit card and loan repayments on time.

Space out your credit applications.

Keep an eye on your credit report.

Every time you apply for credit, the “enquiry” is added to your credit report, whether or not you’re approved. The more enquiries you have within a given period, the more it hurts your score. To avoid this, double check that you’re eligible for a product before you apply. A general rule is that one application every six months won't negatively affect your score.

Check everything on your credit report to make sure your information is correct. You may find something that isn’t correct or hasn't been updated, which could damage your score. The good news is that checking your report yourself does not create an enquiry or affect your score.

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Make sure all your providers have your contact information.

Many people end up not paying a debt, or “defaulting”, because banks and lenders aren't able to contact their customers.

Evaluate your available credit.

While having a credit history can demonstrate that you’re a worthy borrower, having too much can potentially harm your credit score. Since your credit report doesn’t include how much you owe, having a bunch of open accounts you’re not using could impact your future ability to borrow. Consider consolidating or closing unused accounts.

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5.

Understand your health insurance

Here’s how you do it:

2.

Take your subscriptions off autopilot

Log in to your online account and see what you've signed up for. Most health funds in Australia now have a good online experience, so this part is easy. Check whether you have hospital cover, extras cover, or both. Also check your current limits and how much you’ve used on extras, as well as what hospital treatments you’re covered for.

Look at your hospital and extras separately. Hospital will cost you more money, but extras is where things like dental and massages come in, which aren’t covered by Medicare. If you don’t use your extras policy, consider cancelling it and taking out hospital only cover.

Alex Holderness,

Health Insurance Publisher

Don’t miss these tips:

Most extras policies include a yearly routine dental check-up, often with no out of pocket cost. Seeing the dentist a couple of times a year is one of the easiest ways to get value for your money..

4 Quick and Easy Wins

Use your extras.

Don’t sign up for a couples policy.

Don’t pay for more than you need

You won’t save any money by sharing a policy, and it could actually cost you more. For example, if you’re on a top policy for pregnancy, you’re both paying for treatment when only one of you needs cover.

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Know what to look for

Check your extras – this is  the limit amount for each treatment, and how much you can claim throughout the year. Hospital treatments are your inclusions such as elective treatments or pregnancy. When reviewing, consider exactly what you need as the level of cover dramatically changes your price. Your excess is the amount you would have to pay if you actually use the private hospital. The lower your excess, the higher the premium.

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Here’s how you do it:

Don't let your policy auto-renew. You might think that the longer you’re with your insurer, the more they will reward you, right? Wrong. Some people are paying more each year just for being loyal. Don’t be one of them! An easy way to not pay the loyalty tax is to look for a better deal every renewal period - half an hour of comparing quotes could save you hundreds of dollars.

2.

Take your subscriptions off autopilot

6.

Save money on your car

Don't skimp on cover. Some policies will be cheaper if they give you market value for your car (as opposed to agreed value) - or they might not give you a choice of repairer. This might save you some money in the short run, but will actually become important if you need to make a claim.

Don't get hung up on a particular brand. It can be tempting to fall for a company because it’s familiar - you've seen it on TV; your parents were with them; you’ve ‘heard’ they’re good. You’re better off looking for a policy that suits you and your circumstances rather than getting suckered into a company with a big marketing budget.

Compare, compare, compare. This is probably the most important tip to getting the best car insurance deal for you. Set aside 30 minutes and fill in a bunch of quotes. You can even use autofill via your browser (or even better, a secure password manager) to make the job easier.

Ally Koster,

Car Insurance Publisher

Don’t miss these tips:

Prices fluctuate by up to 50 cents a litre some weeks, so keep an eye on prices and when you notice a dip in your area, fill up the tank. Saving 50 cents per litre, could save you around $25 to fill up.

3 Quick and Easy Wins

Fill up while fuel prices are low.

Weigh up whether you really need your car.

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Check where you’re getting your car serviced.

If your car is no longer under warranty, you don't have to go with your car dealer’s servicing team. You could save money by shopping around for other options.

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7.

Prioritise your super

Here’s how you do it:

2.

Take your subscriptions off autopilot

Roll over your super balances into your new super fund. If you've chosen a new fund, you'll need to sign up before you can consolidate your super into it. There’s generally an option to “consolidate your super” when you log in to your new account.

Alison Banney

Banking Editor

Let your employer know. If you’ve switched funds, drop your HR team a note with your new details so they can make sure your super payments are going to the right place.

Don’t miss these tips:

3 Quick and Easy Wins

Calculate how much super you need

Consider making extra contributions

You won’t really notice small amounts added to your super now, but these will compound over your working life and leave you with a lot more when you retire. One way you can do this is through salary sacrificing. We’ll get onto that next.

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Compare your fees

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Here’s how you do it:

See if you can afford to put away a little extra each month. If you’re 30 years old, earn $85,000 a year and currently have a superannuation balance of $50,000 - it would only impact your net pay by around $131/month. See if you  have any spare cash to start saving. 

2.

Take your subscriptions off autopilot

8.

Explore your salary sacrifice options

Contact your employer. Get in touch with your HR team to say you’re interested in salary sacrificing and follow they steps they give you.

If your employer doesn’t support salary sacrificing. You can make your own personal contributions to your superannuation and then claim the tax back via your tax return.

Don’t miss these tips:

If you’ve got existing debt with a high interest rate (e.g. credit card debt or a car loan), paying this down first makes sense before you start salary sacrificing.

3 Quick and Easy Wins

Pay off high interest rate debt first

There’s a maximum amount.

 Just remember that there’s a $25,000 limit (the ‘concessional contribution limit’) which consists of both your employer contributions plus any personal contributions you make. If you contribute over $25k in a year, you’ll have to pay additional tax.

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Make sure your employer contributions don’t stop.

Before you salary sacrifice, ask your employer if they’ll continue to calculate your super payments on your gross income, before the salary sacrifice amount is deducted.

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Here’s how you do it:

Have you ever shied away from looking at your bank account? While it can be scary, getting real visibility on your spending is integral to getting your financial house in order.

Most of us have more than one banking product. With multiple products (or at multiple institutions) it can be hard to keep track of where our money is and how much we actually have.


The good news is that technology can help. There are a lot of apps out there to help track your spending, but another new way is to sign up for a digital bank account. This is a new type of bank account in Australia and makes it easier to manage your money. You can open one of these accounts alongside your main bank account to use as a spending account and get a better view of where your money is going.

2.

Take your subscriptions off autopilot

Consider opening a digital bank account. Most digital banks include features that traditional banks don’t have, like automatically categorising your spending, rounding up your spending to the nearest dollar and putting the extra into your savings account, as well as budgeting tools and spending insights. These tools make it easy to see how you’re managing your money.

Elizabeth Barry

Global Fintech Editor

9.

Create good habits for the future

Don’t miss these tips:

Even if you think you can’t afford it, setting aside even the tiniest amount - as a recurring direct debit for the day after payday can make “savings” feel like just another bill you have to take care of. You can name your savings account something like “Bali” or “Our home” to keep you motivated towards the goal that you’re saving for.

3 Quick and Easy Wins

Pay yourself first

Try not to dip into your savings

Unless it’s a genuine emergency, don’t transfer money from your savings to take care of everyday expenses.

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Give yourself something to aim for

Set a clear goal, and keep it front of mind. Having something to aim for (a holiday; a home deposit etc.) reduces the chances of losing momentum.

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Let's go:

2.

Take your subscriptions off autopilot

10.

Lower your household bills

Estimated price. This will give you an idea of roughly how much you’ll pay.

See what guaranteed discounts there are. That is discounts that don’t require an action to receive them.

Check the cost of usage. Unlike the estimated price, your actual bill will be based on your actual usage, so always compare the kW/h rates.

Check your energy bill

Check discount conditions. Some providers will have “conditional discounts” such as paying on time in order to get a discount (which is reflected in the estimated price)..

Check the benefit period and contract. Some plans will give you a guaranteed discount for a certain period of time, e.g. two years.

Maurice Thach

Energy Publisher

Check your mobile bill

Check your internet bill

Check your contract. Many Australians sign up for phone contracts, usually for 24 months. This is often the best way to get a new phone without dropping thousands of dollars at once, and contracts are including more and more data these days. If you’ve got the spare cash lying around, buying a new smartphone outright paired with a cheap SIM plan can be a great way to save money.

Check your average monthly data usage. Most providers will provide this via their website or app, so you can log in and check roughly how much data you use. If you’re not a big data user, you’re in luck because most cheap plans come with unlimited calling options these days, so you’re almost guaranteed to save.

Benchmark your pricing. The average cost for a Standard Plus no-contract NBN plan is about $75/month. If you’re spending more than this, it could be time to switch.

Consider your connection speed. If fast internet is important to you, look at the typical evening speed. Most plans will list this number as a fairly accurate representation of the speeds you’ll actually get during those peak usage times of 7–11pm on weeknights. If you’re looking at a Standard Plus plan, which has a maximum of 50Mbps, look for typical evening speeds above 40Mbps. This ensures the smallest chance of buffering and sluggish performance during those peak times.

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If you’re home a lot in the evening from Monday to Friday, it's better to consider a “single rate” energy plan. If you’re not home a lot on weeknights, then it's better to consider a “time of use” energy plan.

Most NBN plans include unlimited data, but if you’re only interested in email and light browsing, you could opt for a plan with less data (e.g. 100GB or less) and save $10 or $20 on your monthly bill.

Check your phone bill

Jacob Smith

Tech & Telco Producer