Do you get the feeling that you’re just treading water financially? Don’t think you’re alone. A recent study conducted by ME Bank into household financial comfort suggested that over 25% of Australians have less than $1,000 in savings to draw upon in the event of an emergency.

Here are some tips to help you get off the money-go-round and back in control of your money.

Develop a budget

It is important to have awareness of where you are spending your dollars. By creating a budget, as boring as it sounds, it can change things dramatically because you become more aware of where you are spending your money.

There are many good budget tools out there. I suggest the ASIC Money Smart Website Budget Tool.

Get on the same page

It can be difficult maintaining a budget if you have a partner who isn’t on the same ‘money-wise’ page as you. I’ve seen figures indicating that around 60% of couples argue over money, therefore talking to one-another about your financial goals and aspirations in a constructive and respectful manner can really help. We spend so much of our time finding “the one” who will share our values, and financial values are just as important when it comes to maintaining a comfortable and stress-free lifestyle.

Educate to elevate

Education can elevate you to different pay levels, provide career opportunities and/or even allow you to start up your own business. It has long been a catalyst to achieve a better life and millions of people have invested in themselves to create opportunities.

Look for a new job

With unemployment in Australia low at present, there are always plenty of employers looking for good staff. If your current boss is underselling you, there’s a strong chance in today’s employment landscape that someone else will pay a premium for a good employee just like you! Don’t get stuck in a rut and accept the same job conditions; do something about it and change your life at the same time.

Invest in yourself

If you’re still struggling to see the light at the end of the tunnel, then employ the services of a financial planner to help you navigate the big issues. An investment in yourself is the best investment you can ever make because it can pay a lifetime of dividends and give you the best returns. Never underestimate your value and potential.

The money-go-round is not an enjoyable place to be. By taking action and pursuing opportunities you can write your own financial and life story. Don’t just accept the status quo or get caught in a state of inertia; there’s always something you can do to improve your situation and there are plenty of people to help you if you’re struggling to do it alone.

Note that the above recommendations are provided as general advice only. It has not taken into account your personal financial circumstances. If you would like advice tailored to your specific financial position, please contact us. One of our friendly advisers would be delighted to help you.