Women's money toolkit

You and your money

The women's money toolkit has tips and tools to help you manage your money, gain an edge on your finances and deal with life's ups and downs. We developed this toolkit because women face unique financial challenges such as having less super than men, living longer and taking time out of paid work to care for others.

Answer some simple questions and receive a tailored list of topics that may include having a baby, relationships and money, sorting out your super and many more. Create a personalised to-do list of the actions you need to focus on right now to make the most of your money and enhance your wellbeing.

Remember, you can always:

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Under 25s

 

Did you know?

Credit providers may check your credit report before deciding whether to lend you money.

Smart tip

Set up a regular savings habit. If you put $50 per week into a savings account with 3% interest, you will have around $14,000 in 5 years.

To do list(select items to add)

Having a baby

 

Did you know?

On average, a first child costs between $3,000 and $13,000 in the first year.

Smart tip

Start preparing early to plan for the change in your financial situation when you have kids.

To do list(select items to add)

Relationships and money

 

Did you know?

If you get a joint loan and your partner can't pay their share, you may be responsible for the full amount.

Smart tip

Talk regularly with your partner about money and financial goals.

To do list(select items to add)

Buying a home

 

Did you know?

If you're buying a home, remember to factor in extra costs like stamp duty, legal fees, loan establishment fees and lender's mortgage insurance.

Smart tip

Aim to save a deposit of 20% or more of the purchase price of your home to avoid paying lender's mortgage insurance (LMI).

To do list(select items to add)

Kids and money

 

Did you know?

By the age of seven children have already developed some financial behaviours.

Smart tip

Talk to your kids about money as much as you can (especially at the ATM and in the supermarket).

To do list(select items to add)

Trouble with debt

 

Did you know?

Financial counsellors help thousands of people every year to sort out their money problems.

Smart tip

Be careful before you consolidate your debts or refinance as it may be only a short-term fix.

To do list(select items to add)

Divorce & separation

 

Did you know?

To apply for a divorce you need to prove you have been separated for 12 months.

Smart tip

Open a bank account in your name only and have your pay and any other income paid into this account.

To do list(select items to add)

Back to work after a baby

 

Did you know?

Most people need to review their finances when they return to work after having a baby.

Smart tip

Work out how you will manage your child's care arrangements before you return to work, and include this cost as a household expense (not just against one person's income).

To do list(select items to add)

Women & super

 

Did you know?

On average, women have just over half the super that men do (and women tend to live longer).

Smart tip

Super is your money - regularly check your balance, your contributions, fees, and your insurance coverage.

To do list(select items to add)

Investing & getting advice

 

Did you know?

You don't need a lot of money to start investing - some people start with only $1000 or invest small regular amounts over time.

Smart tip

Be wary of get rich quick schemes. If it seems too good to be true, it probably is.

To do list(select items to add)

Retirement ready

 

Did you know?

The year you were born determines when you can access your super and when you will be eligible for the age pension. 

Smart Tip

Financial advisers can help you create a financial plan and explain potential returns and risks.

To do list(select items to add)

Losing your job

 

Did you know?

On average people have between 7-10 jobs over their working life.

Smart tip

Review your finances and get emotional support to help you adjust to your new circumstances.

To do list(select items to add)

Illness and disability

 

Did you know?

More than half (53.4%) of Australian adults who have a disability participate in the workforce.

Smart tip

While it may be the last thing on your mind, sorting out your finances can help you feel more in control.

To do list(select items to add)

Losing your partner

 

Did you know?

 

Smart tip

Make sure you seek out the emotional support you need and take care of yourself.

To do list(select items to add)

Becoming a carer

 

Did you know?

Most carers (70%) are women.

Smart tip

It's important to look after yourself and keep an eye on your finances while you are caring for others.

To do list(select items to add)

Budgeting

 

Did you know?

People who publicly commit to their goals are more likely to achieve them.

Smart tip

Change one spending habit and see how it makes a big difference to your bottom line.

To do list(select items to add)

Insurance

 

Did you know?

Insurance can provide the money that you or your family need in critical times.

Smart tip

Shop around at renewal time to make sure you are getting the best deal on your insurance.

To do list(select items to add)

Small business

 

Did you know?

96% of Australian businesses are small enterprises with less than 19 employees.

Smart tip

Remember to think about your retirement savings and pay yourself super.

To do list(select items to add)


Related links


Last updated: 18 Jul 2016