The story about how I became one of those “good with money people” is not an easy one to tell.
It started with an idea that became a business – and then it all fell apart, taking from us every single cent we’d ever earned our entire working lives.
Overnight I became good with money, because I had no choice.
So here are my top eight tips to help you make your money work smarter (and to have some fun along the way).
Just as an FYI, you should know that this is an advertorial for Qantas Frequent Flyer.
1. Sort out your super.
At one stage, I had four separate superannuation accounts, and I was paying four separate lots of fees. You need to pick one, and roll everything into it. You’ll save on fees and ensure you have a secure retirement, even if it seems a long way away.
2. Start a high-interest savings account.
Just knowing it’s there will help you sleep better. Find the highest interest account you can – one that allows you to add to it as often as you like. Then automate your contributions, and make additional contributions whenever you can.
3. Sign up to a loyalty program like the Qantas Frequent Flyer program (QFF).
By signing up to the Qantas Frequent Flyer program, you’ll earn points for all of your everyday purchases which you can redeem for a family holiday. Travel and eating out at restaurants are two activities families cut back on in order to save money, but it doesn’t have to be this way.
You just have to shop a little bit smarter and let the frequent flyer program do all the work for you. You can earn 100 points per diner by choosing Qantas restaurants, and two points per litre when filling up at Caltex Woolworths. Then redeem your points for a domestic holiday or save them up for overseas travel.
4. Make use of Gumtree, eBay and Grays Online.
If you need to buy a new bed or any other major purchase, sell your old one and buy yourself a new one using Gumtree, eBay and Grays Online.