Saving and budgeting
Most experts recommend you create a budget to work out if you’re living above your means and to find ways to trim your spending.
Start by looking at how much money you receive, including your wages, investments or government payments. Then look at what you spend and write it down. This can help you decide where you can cut back.
Tips and tools for budgeting and managing your money
Knowing where you are now will help you get to where you want to be. MoneySmart outlines 6 easy steps to plan and manage how you spend your money.
Understand where your money is going with MoneySmart's free budget template.
Services Australia – manage your money
Services Australia has practical information to help you build a budget and reach your short- and long-term goals.
MoneySmart – credit card calculator
Calculate how long it will take to pay off your card by making various repayments.
Are you in control when you shop online? Some websites try to make you spend more money or share more data than you usually would. Learn how to recognise and avoid these dark patterns with NSW Fair Trading.
Financial skills training and personalised support
This free, confidential government service can help you plan for your future financial needs – from salary sacrificing and superannuation to increasing your retirement income and understanding what happens when you move into aged care.
Saver Plus is a free program that helps you build your savings and money skills. If eligible, you can get up to $500 to help with education costs. The program runs for 10 months and supports you to develop long-term savings habits.
Salvos ‘You’re the Boss’ program
You’re the Boss is a free financial skills-building program that shows you how to change your behaviours around money. It includes a downloadable book that walks you through various savings strategies.
Managing debt
Here are some services to help you manage your debt and organise payment plans.
Get help to manage debt
The earlier you seek help, the more informed you’ll be about your options.
If you are finding it hard to keep up with all your payments, the National Debt Helpline has step-by-step guides and useful information on how to manage specific types of debts.
Most people will face financial stress at least once in their lives, according to Lifeline. Get help and take steps to improve your financial situation with their support toolkit.
Free legal advice and financial counselling for Aboriginal and Torres Strait Islander peoples. The service specialises in credit cards, payday and car loans, banking, debt recovery and insurance.
Australian Financial Security Authority
Can’t pay your debts? This Australian Government site offers free financial help, compares your insolvency options and outlines the consequences of bankruptcy.
Community legal centres provide free legal help to people in need. Select the options that apply to you and find specialist services that fit your circumstances.
Concerned that you are spending more time and money gambling than you would like? This government service provides free chat and email counselling, and other support services.
Request payment plans for fines and taxes
Australian Taxation Office – Help with paying
If you can’t pay your tax in full and on time, the ATO has support options you can access to help you meet your tax and super obligations.
Revenue NSW supports customers experiencing financial hardship or cost-of-living pressure. Don’t ignore your fines and fees. Contact Revenue NSW now to discuss options for a payment plan. You may also be able to resolve your fines by doing unpaid work, courses or treatment through a Work and Development Order.
No-interest loans and financial support
Find out about no-interest loans, low-cost insurance and other support to help you get back on your feet.
Department of Social Service Grants Service Directory
Use this Australian Government directory to find emergency relief services throughout NSW.
Good Shepherd – no-interest loans
A no-interest loan from Good Shepherd helps you borrow up to $2,000 quickly for essential goods and services and pay no interest or charges. You should perform your own research before entering into a loan agreement.
Mary MacKillop Today offers people on low incomes no-interest loans for up to $2,000 for essential goods and services such as fridges, washing machines and medical procedures. Repayments are set at an affordable amount over 12 to 18 months. You should perform your own research before entering into a loan agreement.
The St Vincent de Paul Society
Vinnies offers small, interest-free loans of up to $2,000 for low-income families and people across NSW. The loans are usually repaid over 12 months. You should perform your own research before entering into a loan agreement.
Bravery Trust is a military charity that provides emergency financial relief and counselling to serving and ex-serving members of the Australian Defence Force who have an injury or illness because of their service.
Financial abuse
Financial abuse is when someone takes away your access to money, manipulates your financial decisions, or uses your money without consent.
MoneySmart describes the signs of a financially abusive person and provides advice on how to protect yourself and your money.
The 1800RESPECT Financial Abuse Support Toolkit explains what financial abuse is, what it feels like, and next steps when you are ready to reach out for support.
Redfern Legal Centre provides free and confidential advice about financial abuse. They can also work with other services to help you address legal and non-legal issues related to financial abuse.
NSW Ageing and Disability Helpline
This NSW government service provides support and information about financial abuse for older people or people with disability.
The Arise Foundation helps survivors of financial abuse through no-interest loans, employment training and job placement.
Good Shepherd – financial independence hub
If you’ve been through a situation where someone has tried to control you with money, work or other financial matters, the financial independence hub can help you sort things out with free, confidential support.
Scams
A scam is a way of tricking people into handing over money or personal details.
Get help if you think you've been scammed
What to do if you've been scammed
Scamwatch lists the steps to take if you think you've been scammed.
Get help to protect your identity if you suspect you’ve been a victim of a data breach or identity fraud.
Learn how to recognise and avoid scams
The Australian Competition and Consumer Commission is raising awareness about how to recognise, avoid and report scams. Learn the common signs that something is a scam and find out what to do if you are a victim of one.
ACCC Little Black Book of Scams
Scams can happen to anyone. Find out how to protect yourself with a free downloadable copy of the ACCC’s Little Black Book of Scams. It’s available in English and 10 other languages.
NSW Fair Trading – scams and cyber crime
NSW Fair Trading describes different types of scams and cybercrime, and how to report them to the appropriate government agency.
Australian Cyber Security Centre
This government site helps you take control of your cyber security and protect yourself and your data online. It also explains what to do if you’ve been hacked.
Tax
Understanding how tax works can help you grow your tax return and avoid surprise bills.
Use this app by the Australian Tax Office to access a range of features and tools to help you keep on top of your tax and super.
If you work multiple jobs or do gig work, visit our Employment and training page for tax tips and resources.
The tax-free threshold is the amount you can earn before you pay tax. If you claim it incorrectly, you could get a tax-time bill. Find out how to claim it and what to do if you have a second job or other income.
Work out your tax refund or debt estimate with this calculator from the ATO.
If you work from home, you may be able to claim expenses like electricity or internet in your tax return. To claim, you must work from home to do your job, incur extra costs, and keep records of expenses. Work out your claim with the ATO's calculator.
ATO – occupation and industry specific guides
Many people don't claim the tax deductions available to them. Make tax time easier with guides for certain occupations and industries.
Superannuation
Superannuation is a tax-effective way to save for your retirement. Whether you’re just starting out in a job or looking to leave work, it pays to stay on top of your super fund.
MoneySmart tells you how to choose a super account with lower fees, compare your fund’s performance with others, and how to get your super when you retire.
Australian Taxation Office – super
The superannuation choices you make today will help shape your lifestyle in retirement. The ATO’s superannuation hub helps you sort your super now to maximise your savings when you retire. It also explains how and when you can access your super.
ATO – YourSuper comparison tool
Compare super funds based on their fees and performance. You can also see how your personal super fund compares against others within your myGov account.
Services Australia – retirement years
Learn more about the help and payments that are available when you retire – from the age pension and other allowances to the home equity access scheme.
MoneySmart – retirement planner
See how much income you're likely to receive from super and the Age Pension when you retire.
Crisis support
A crisis can be sudden and life changing, but you do not need to go through it alone. There are support services available if you need help when times get tough.
Learn more about where to get help at our Crisis support page.