Women's money goals
Creating the future you want
Research shows that many Australian women find it overwhelming
and stressful to deal with money issues. Here we explain the three
key steps you can take to start building a better financial
Set your money goals
What's your top financial priority right now? For many women,
it's providing for their family's needs. Or perhaps you're saving
to buy a home, paying off debt, or planning the holiday of a
It doesn't matter what your goal is, the important thing is to
be clear about what you want to achieve, so you can take the steps
you need to get there.
Video: What is your top financial priority?
What is your top financial priority?
Faustina Agolley, Sarah Moran and Jane Caro share their top
financial priorities, as part of ASIC's MoneySmart Women talk money
Build your financial
The first step towards building confidence with money is to take
stock of how much you have and where it's going. Armed with this
information, you'll be much better placed to consider your spending
Track your spending
Keeping track of where your money is really going will help you
work out where you can make some changes and set spending
Track your personal expenses on the go with our free and
Do a budget
How much money is coming in and going out each week, fortnight
or month? Setting a budget will help you sort out your money
priorities and take control of your spending and saving.
Use a budget to stretch your money further and make sure
it goes where you want it to
Save for a rainy day
Having some savings set aside will give you breathing space to
deal with life's ups and downs.
Prepare for a rainy day by building an emergency fund.
It will give you peace of mind if you ever need money in a
Saving regularly is the best way to build up your savings
balance. It doesn't matter how much - or how little - you save, you
just need to make a start, and then keep going.
See our tips for setting a savings goal for yourself.
Get help to manage your debts
If you are having trouble making ends meet, or your debts are
spiralling out of control, a financial counsellor can help you
get back on your feet. It's a free, confidential service.
Women's money goals
Our women's money goals
infographic shows that women have what it takes to reach
their money goals, and explains the steps they can take to
Know the basics of investing
Giving yourself a basic knowledge of investing is a great way to
start thinking about ways to grow your money.
You don't need a lot of money to invest - some people start with
just a small amount. The key is to know the fundamentals and start
with an amount you feel comfortable investing. You can always add
to your investments over time.
Use the investor toolkit
The investor toolkit helps you with the investing essentials.
Just answer a few simple questions to generate a personalised list
of actions you can email to yourself.
Build your investing profile
Use the investor toolkit
Keep track of your super
Planning for the future is part of any financial strategy.
The best way to do this is to nurture your superannuation.
2017 HILDA Report found that Australian women retired with an
average super balance of $230,907, compared with $454,221 for
Do you know how much you have in super right now? Women tend to
live longer but, on average, retire with half the super balance of
It's never too early - or too late - to think about ways to
accumulate more super to enjoy your retirement.
Check out how much super you'll have in retirement
See how a career break will affect your super
Working part time or taking a break from paid work to study,
travel, or care for others can have a big impact on your
See how a career break or working part time affects your super
Give your super a boost
Speak to your employer about contributing to super from your
pre-tax income through salary sacrifice. While it may
mean taking home less pay now, it is an easy way to regularly add
more to your super balance.
You can also ask your spouse or partner to make super
contributions on your behalf. They may be able to claim a tax
offset on the contributions made to your fund. Visit the Australian
Taxation Office's website for the rules on the
superannuation spouse contribution tax offset.
If you're on a lower income you may be eligible for a government
If you have more than one super fund, it's a good idea to consolidate your super into
one fund, so you're not paying more fees than you need to.
See superannuation and women for
more simple strategies to grow your super balance.
With financial confidence, basic investing
knowledge, and a plan for the future, you'll be on your way to
making the most of your money and enhancing your financial
Last updated: 16 Oct 2018