If you had ‘finally fix my finances’ on your 2021 bingo card, then tune in. It’s your time to shine.
First, it’s time for some honesty. I’m not bad at managing my money but I haven’t mastered it, either. Basically, I save but I also spend — and I’d also like to be saving a little more than I am currently so I can one day enter the fickle Australian housing market.
For some, making money and saving it all up comes naturally, and for others . . . it doesn’t. This article is for all of the above.
I’m not here to tell you that you are terrible at managing your money or that you need to overhaul your finances, but I am about to tell you there’s always room for improvement — especially when it comes to financial wellbeing.
So, more on the nifty little tool that we teased you about to get you here in the first place:
Before you can get your money in check, you need to know where you’re currently at. It’s the scariest part, especially if you’ve been avoiding your financial situation for a while, but it’s also crucial. That’s where the ANZ Financial Wellbeing Calculator comes in — it helps you rip the bandaid off. Basically, ANZ has set up a quick little quiz as part of a new financial fitness challenge they’re launching for all customers and non-customers. In the first week of the challenge, you’ll get asked 12 questions to get an overall view of how your finances are doing and then it will score you based on your answers.
The questions ask you things like whether thinking about your money situation makes you feel good (or bad) and how well you’d cope financially if you suddenly lost your income, or had your pay cut due to something like, oh, I don’t know, a pandemic?
Once you’ve looked your score in the eye, you’ll have options. ANZ has launched a Financial Wellbeing Challenge that helps you get on top of your money and actually feel good about it. It’s all quite gentle and is more focused on teaching you the ins and outs of money and improving your attitudes around your own bank account.
So, while the first step hurts — it’s the first step to getting your money in order. It’s part of life, baby.
You can sign up to the ANZ Financial Wellbeing Challenge here.