Building good financial habits

Information and resources to help you manage money and make good financial decisions.

Why good financial habits are important

No matter what your financial goals are, it’s never too late to start building good financial habits. Learning how to make smart and informed choices can help you:

  • build a healthy relationship with money
  • live and spend within your means
  • grow your savings
  • avoid debt and financial hardship
  • plan for your future financial expenses or commitments.

Good financial habits

Moneysmart has information and resources to help you with budgeting, bank accounts and building your savings. These links will take you away from myGov.

  • Budgeting

    Learn how to do a budget, track your spending and set money goals.

  • Banking

    Learn about account types, choosing an account and managing your accounts.

  • Saving

    Learn how to make the most of your money by setting savings goals.

How to prevent debt

Understanding debt and how to minimise or avoid it is the best way to prevent financial hardship. Find out more about preventing debt. 

Tips for young adults

There are resources designed for young adults to help you get started with money. Some of these links will take you away from myGov.

  • Student life and money

    Moneysmart has information to help you make the most of your money as a student or young adult.

  • Becoming independent

    As your child grows older and closer to adulthood, they’ll be able to do more without your help.

Other resources

There are other resources available to help you learn about money and make informed financial decisions. These links will take you away from myGov.

  • Glossary

    Moneysmart has a glossary to help you understand financial terms and their meanings.

  • Financial Information Service

    Free and private information from Services Australia to help you make informed financial decisions.

  • Rent vs buy calculator

    Use Moneysmart’s calculator to help you decide if renting an item is the best option for you.
Page last updated: 26 March 2024