
We don’t want to make a snap judgment, but considering you clicked on this article, we’re going to guess you’re a little… disorganised… when it comes to money.
By “a little” we mean a lot.
Sorry.
The good news? The team at Zella Wealth – Australia’s millennial money experts – can guide you through the ultimate financial overhaul.
We’re going to whip your finances into shape in the time it’ll take you to binge the latest season of The Bold Type (one day, we mean one day).
Let’s do this.
Check your superannuation account
If you read that sub-header and thought “Well, technically it’s not an account, it’s accounts*” then you’re precisely the person we need to speak with.
You need to have one superannuation account. Not two, and definitely not five. One.
Want to know why? Additional super accounts translate to additional fees, which is basically like opening your wallet and pouring thousands of dollars down a drain. Which would be silly. Obviously.
The ASIC MoneySmart superannuation calculator shows that having one super account over 40 years will include $14,000 of fees. But if you have up to five accounts? You’re unnecessarily kissing an additional $56,000 of fees goodbye. See? Silly.
Superannuation might be boring, but it’s bloody important. We highly recommend speaking with a financial adviser to consolidate your super accounts and make sure you’re picking the right one – setting yourself up for retirement is important, even in your 20s.
Increase how much you’re paying back on debts
Short term pain, long term gain, buddy. You can choose to pay the minimum repayments, of course, but you’re going to absolutely cop it in interest. The wiser option is to pay any outstanding debt off quicker – free up your cash flow ASAP so you can allocate it to something more important. You’ll save both time and money, so it’s a win-win.
Bin the membership you haven’t used in months
We get it, you bought that fancy gym membership six months ago and envisaged a life full of pilates, yoga, and turmeric lattes. But then you figured out turmeric lattes taste like, well, crap, and that pilates is overrated.
We’ve all been there.
We’re not judging. But there is absolutely no point paying for monthly memberships you’re not getting any value from. Also, is it really necessary to have Netflix AND Stan?
Suss out your bank account
Do you know you’re more likely to leave your future wife or husband than leave the bank you set up your first proper account with? It’s MADNESS.
Are you paying fees? If you are, that’s about as fine as wearing white to your best friend’s wedding (not fine). Get outta there – plenty of other banks won’t sting you with ridiculous fees for absolutely no reason.
Don’t be scared to make your bank work for you; make sure your main savings account is, at the very least, earning you some decent interest. Better yet, invest it. There’s no use leaving money in an account to collect digital dust – give it the best possible chance to grow.

Top Comments
Totally agree with the packed lunches. Rarely buy my lunch or coffees at work and use that money instead for airfares, accommodation, nice shoes and bags etc but alas life is about choices and each to their own.