Finder makes money from featured partners, but editorial opinions are our own.

The 3 key money moves to make RIGHT NOW

Money saving concept_GettyImages_1800x1000

The cost of living crisis means now is the time to sort out your finances.

We've all been feeling the pinch for what feels like decades at this point, but the cost of living crisis has proved stubbornly persistent.

It's gotten so bad that 1 in 5 Australians now feel they've left it too late to improve their finances, according to a Finder survey.

To make things worse, 33% of Australians have lost sleep and 18% have experienced early signs of ageing because of financial stress.

If you're one of them, there's still hope.

Here are 3 must-do money moves that could start improving your finances today, and also set you up well for the future.

If there were such as thing as the 10 Money Commandments, these tips would be an absolute shoe-in.

1. Get a high-interest savings account

High inflation has had an impact on all of us, but the one upside is higher savings rates. Right now you can get up to 5.75% on your savings.

Nowhere else in life will you have an opportunity like this to effectively get money for nothing.

Seriously, before you even finish reading the rest of this article, stop what you're doing and take a look at high interest savings accounts.

2. Start investing

With inflation as high as it is, your money could actually going backwards. While HISAs are a good first step, you might need to consider other investments if you want to actually get ahead over time.

It's ok if you don't have millions to invest, even $50 a month could turn into thousands of dollars after a few years.

Over the last 20 years, the NASDAQ-100 (an index of the largest companies on the Nasdaq stock exchange) has averaged an annual return of 14.33% (including dividends).

The key element here is time, not money. The sooner you start investing, the higher your potential returns are likely to be over time.

Future you will be thankful.

Of course, the stock market has a much different risk profile than savings accounts, and that's something you'll need to bear in mind.

3. Consolidate your debts

If you have one or more current debts, such as a personal loan, car loan or credit card, it's time to look at consolidating your debt and potentially saving on interest.

This also applies to home loans. If you haven't done so recently, look into refinancing your home loan today. It could save you thousands of dollars with literally 1 phone call.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site