As 2026 kicks off, CA ANZ has provided some \u2018financial fitness\u2019 tips to help individuals and firms stay on top of their goals.<\/p>\n
While motivation remains high and New Year\u2019s resolutions are fresh, CA ANZ has given Australians four key tips to stay on top of their financial fitness this year. \n<\/p>\n
\u201cWe know families are dealing with increasing costs on all fronts \u2013 from bills to mortgages to the essentials such as groceries,\u201d CA ANZ Australia tax leader, Susan Franks, said. \n<\/p>\n
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\u201cWhatever your financial situation, we have four practical steps for you to take.\u201d \n<\/p>\n
First, CA ANZ urged Australians to review their debts, noting that Australia had the second-highest level of household debt globally, according to an analysis by Finder. \n<\/p>\n
\u201cWhile some debt is unavoidable, we recommend paying down what you can, or exploring refinancing options to get a better rate,\u201d Franks said. \n<\/p>\n
Second, the industry body encouraged Australians to do a financial spring clean, nipping inactive subscriptions in the bud and shopping around for better deals on utilities and insurance for a fresh financial start to the year. \n<\/p>\n
\u201cTechnology has made it so easy to spend money that sometimes we don\u2019t spend consciously,\u201d Franks said. \n<\/p>\n
\u201cWe recommend reviewing all your spending for a month, line by line. Check your subscriptions and streaming services and see if you\u2019ve used them in the past month. Make sure you also shop around for the best price on your utilities and insurance. \n<\/p>\n
Third, while goal-setting motivation remained high, CA ANZ recommended households commit to a savings target and set up systems to ensure they hit their goals. \n<\/p>\n
\u201cTo avoid this, setting up a direct debit of a manageable amount (typically 10-15% of your net income) into a high-interest account on payday can help,\u201d Franks said. \n<\/p>\n
\u201cIf you can\u2019t see it, you can\u2019t spend it. Automating this process makes your life easier now and in the long run.\u201d \n<\/p>\n
Last but not least, CA ANZ urged Australians to seek advice from their chartered accountant to stay on top of all the latest regulatory changes and put their best financial foot forward for the new year. \n<\/p>\n
\u201cThey will be across the latest changes to tax settings or new regulations and can help you manage your cash flow, ensuring you are a step ahead financially,\u201d Franks said.<\/p>\n
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