Money Smart

Moneysmart tips: A monthly e-newsletter with free tools, tips and guidance.

Moneysmart tips: Resisting the hard sell | Planning big life decisions

It’s the lead up and countdown to Christmas! So, this month we have tips for resisting sales pressure and saving on bank fees.
The recent severe storms and hail activity that impacted Qld and NSW in late November have been declared an Insurance Catastrophe, with more than 44,000 insurance claims received already. Unfortunately, catastrophes like this brew up scammers – namely disaster chasers who try to exploit someone’s distress.
Please read our information below about avoiding disaster chasers when you’re impacted by a natural disaster.
And if 2026 will be your year for big life decisions - whether it’s planning your retirement or moving out of home for the first time – we’ve got you covered with guidance.

How to spot a disaster chaser

The combination of financial and emotional cost after a natural disaster might make you vulnerable to disaster chasers.

What to look out for

Moving out for the first time?

From flatmates to furniture, here’s a checklist to help you (or your kids) figure out the basics before they move. 

Get sorted

“I was ready to retire but still had a mortgage”

Across health management, debt decisions and investment choices, explore some of our retirement planning stories.  

Planning retirement

What is a lifetime income stream

A lifetime income stream is designed to give you income that lasts for the rest of your life. Learn how it can work for you in retirement. 

Income streams

$93 million of bank fees back to customers

ASIC’s recent report found that customers collectively paid over $93 million in fees that they didn’t have to, which banks committed to refund.

See if you’re eligible for a low-fee bank account.

Low-fee accounts

Pump and dump: market manipulation

In the era of social outreach, pump and dump schemes have new oxygen. International regulators say these tricks are on the rise. Learn the signs to look out for.  

Protect your money 

Avoiding sales pressure

To help you avoid a post-Christmas hangover we’ve outlined sales techniques to watch out for, to keep your spending under control.  

Resist the hard sell

Moneysmart tips: A monthly e-newsletter with free tools, tips and guidance.

Last year, Australian households made around $8 billion worth of claims on their home and contents insurance. So, ahead of storm season, we have the information you need on avoiding underinsurance, what to look for in a home insurance policy, and what to think about if you make a claim.

We also cover home loan savings - if you’re in a position to negotiate. Plus, tips to keep your retirement savings on track.

What to know about buy now pay later services

It’s pre-Christmas shopping time and buy now pay later services are common. It’s important to know, though, how your buy now pay later activity can affect your credit score - even when you pay on time.

Here's what to know

How to spot a scam website

These days, professional-looking websites can be set up easily by scammers, thanks to templates. 

Whether you’re looking online at investments, loans, insurance or government services, it’s vital to make sure you’re looking at the real thing. Here are our top tips for spotting a scam. 

Spot a scam

A retirement savings 'to do' list

No matter whether you’re planning to retire soon or sometime in the distant future, it’s good to have a simple ‘to do’ list.  We have tips to keep your retirement savings on track.  

Plan now

No rate cut, but plenty of competition

The RBA kept rates on hold this month, but there’s still a significant difference in variable home loan interest rates across lenders.

Work out how much you might save each month by switching. 

Check your savings

If you need some motivation, here's an example of a 50 basis point (half a percent) reduction in home loan rates – from 5.68% to 5.18%, across various loan sizes.

What to know about buy now pay later services

It’s pre-Christmas shopping time and buy now pay later services are common. It’s important to know, though, how your buy now pay later activity can affect your credit score - even when you pay on time.

Here's what to know

How to spot a scam website

These days, professional-looking websites can be set up easily by scammers, thanks to templates. 

Whether you’re looking online at investments, loans, insurance or government services, it’s vital to make sure you’re looking at the real thing. Here are our top tips for spotting a scam. 

Spot a scam

A retirement savings 'to do' list

No matter whether you’re planning to retire soon or sometime in the distant future, it’s good to have a simple ‘to do’ list.  We have tips to keep your retirement savings on track.  

Plan now

No rate cut, but plenty of competition

The RBA kept rates on hold this month, but there’s still a significant difference in variable home loan interest rates across lenders.

Work out how much you might save each month by switching. 

Check your savings

If you need some motivation, here's an example of a 50 basis point (half a percent) reduction in home loan rates – from 5.68% to 5.18%, across various loan sizes.

Home and contents insurance

Check you have the protection that’s right for you – at the right price. Read up on choosing home insurance, choosing contents insurance, and specifics on storm, fire and flood cover.  

We take you through the step-by-step of making a home insurance claim, plus the watch outs of underinsurance.

Check and protect

Dealing with natural disasters

Natural disasters can occur anytime, but they’re more likely in this half of the year.

We have guidance to help you prepare for, deal with, and recover from the financial impact of a natural disaster, with links to important services.

Learn more  

Moneysmart tips: $2.6B ready to be found | Knowing when to take action

Find your share of $2.6 billion

When a financial institution loses touch with you, money that’s sitting in a bank account, life policy or investment can become unclaimed and get transferred to ASIC. There’s currently $2.6 billion being held - use our free search tool to check if some of that could be yours.

Unclaimed money search

Safe shopping tips

October is Cyber Security Awareness month and with pre-Christmas sales due to start soon, we have tips on staying safe when you shop online.

Shop safe

World Investor Week tips

It's World Investor Week and we have some easy actions you can take, to help you invest smart. 

Investing tips

Here's when to hang up the phone

High-pressure sales tactics are putting the super savings of Australians at risk. If someone you don’t know contacts you about your super – hang up. They’re not looking out for you.

Be super smart

Moneysmart tips: Don't get caught in this super trap | Spring clean your finances

Spring has arrived – and if the idea of spring cleaning your home doesn’t inspire you, consider refreshing your finances instead. Moneysmart has put together some practical savings tips that won’t require giving up your daily coffee.

In this edition, Moneysmart has also explored the advantages and risks of becoming a guarantor, how to assess your retirement readiness, and ways to review your superannuation with confidence.

Time for a budget clean up
Spring is the perfect time to review your budget and ensure you're getting the most value for your money. Start with a few simple savings tips and use a detailed budget planner to help track your spending.

Budget planner

Set a savings goal
Now that the budget’s sorted, why not set a savings goal? The savings goal calculator was used more than 350,000 times last financial year.

Crunch your numbers

What to know about going guarantor on a loan
Spring is home buying season. If you suspect the Bank of Mum/Dad might be called on to go guarantor, here are some key things you need to know.

Know the facts

If you're in the market
The August cash rate reduction has flowed through to home loan rates. If you're in the market to buy, this mortgage calculator can help estimate how much you may be able to borrow, what your repayments might look like, and how to pay off the loan faster.

Work it out now

To do: Fact check your super account
You’ve probably received your annual superannuation statement by now (or it’s on the way). Here are five key things to check when it arrives in your inbox.

Key actions

What happens to your super if you die
Superannuation doesn’t automatically form part of your estate, which means it may be tied up rather than passed on promptly. One way to ensure your super goes to the right people is by making a binding death benefit nomination. However, according to a Super Consumers Australia survey, only one in four Australians have made this nomination.

Below is a step-by-step guide to help take control of the process.

Nominating beneficiaries

Moneysmart tips: Rate cuts, lost super and unexpected retirement

Home loan savings

Last week’s Reserve Bank decision to cut the cash rate is great news for borrowers. We’re here to help you understand what to watch for when choosing a home loan — check out the guide here.

Try using the mortgage calculator to find out how much you could save by negotiating a lower interest rate.

Dealing with unexpected retirement

Unexpected retirement can disrupt your plans and bring challenges like loss of income, purpose, and daily routine.

To manage this change, focus first on addressing immediate pressures, then plan thoughtfully for the future. Read here for the five key steps to help manage unexpected retirement.

Stop, check and protect your money

Scams Awareness Week runs from 25 to 29 August. With Australians losing $945 million to investment scams in 2024, we’ve put together a refresher on what to verify before investing. Check before you invest

Moneysmart tips A monthly e-newsletter with free tools, tips and guidance

July is a great time to tick a few ‘to do’ items off your list. Whether you’re lodging your tax return, resetting your budget, or just thinking about your future, we have tips and tools to help you.

Podcast episode: Stopping the scammers

This month the Inside ASIC podcast covers how fraudsters are using artificial intelligence to produce scams that leave even the experts second-guessing.

Listen now

How to lodge your tax return for free

It’s that time of the financial year. We outline how you can prepare and lodge your own tax return online, using the Australian Taxation Office myTax service.  

Learn more

New financial year, new focus

Time for a budget reset? Our online budget planner helps you work out how much you’re earning and where your money is being spent. More than half a million people used it last financial year.

Budget planner

What happens to your super when you retire

Your superannuation may be a big part of your retirement planning – and you can decide what to do with it. Here are some of the common options.

Retirement choices

Protect your super from pushy sales tactics

If someone you don’t know contacts you about your super, it’s a red flag. Learn what to watch out for.  

Protect your super

Moneysmart tips: A monthly e-newsletter offering free tools, tips and guidance

Protecting your superannuation after death

You need to tell your super fund who should receive your super and any life insurance when you die. Having a valid binding beneficiary makes it easier and faster for your loved ones to receive your super when you die. Without it, your fund may decide who gets your money. 

Update your binding beneficiary

Resist quick decisions when markets drop

It's important not to panic when the price of an investment falls. Before you sell an investment, take the time to review it and see if it still help you to reach your financial goals.

How to keep track of your investments

Keep your super account secure

Your super is your income in retirement. Spot the signs of suspicious activity and contact your super fund if something doesn't look right. 

Protect your super from suspicious activity


How will the rate cut impact your mortgage?

The Reserve Bank of Australia (RBA) recently cut the cash rate by 0.25%, prompting many lenders to reduce their variable interest rates, potentially lowering your repayments.

The Moneysmart mortgage calculator can help you see how this change affects your payments and assist with planning.

If you're benefiting from the rate cut, consider using the extra cash to pay down credit card or buy now pay later debt, start a savings habit, or even keep paying the higher rate to pay off your mortgage faster. Every dollar counts, so plan how you can make the most of this extra money.

Read more

Moneysmart tips: Is 2025 your year to thrive?

Kickstart 2025 with a financial reset
Decided that this year is the year you'll build a healthier relationship with money? 

Getting on top of your finances is one of the most common new year's resolutions. And while more than half (52%) of Australians will set a financial goal for 2025, only about 1 in 8 (12%) will stick to it. 

You don’t have to overhaul your life to achieve your financial goals. Even small changes can make a big difference over time. 

Money saving tips 

·   You may be spending too much on streaming services. If you haven’t used a streaming service in months, it’s time to hit that unsubscribe button. Doing a budget can help you identify other expenses you might want to cut back on. 

·   Automate your savings to build an emergency fund. Set up a recurring transfer to your savings account – even $1 or $2 a day, if you can afford it, can help over time to set aside money for unexpected expenses that may come up. 

·   Your super is your income in retirement. Take five minutes when your next super statement arrives to review your balance, fees, and investment options. You can check MoneySmart’s handy guide on how to review your super is here to help.

·   If you got into debt over the holiday period, make a plan to pay it off. It'll feel great to have it behind you.

Visit Moneysmart.gov.au for more simple, actionable tips you can take. 

Spend Smarter This Christmas: Avoid the Holiday Budget Hangover

The festive season is a time for celebration, but it can also bring financial stress if you’re not careful with your spending. According to new research from Moneysmart, while 74% of people set a Christmas budget, only 29% stick to it. Many are turning to savings, credit cards, and Buy Now Pay Later (BNPL) services to cover their holiday expenses, which can lead to a post-Christmas financial hangover. If this sounds all too familiar, don’t worry—we’ve got you covered. With these simple tips and strategies, you can enjoy the holidays without the financial regret.

Set a realistic budget 

Before you start shopping, decide how much you can afford to spend. Break it down into categories like gifts, food, decorations, travel and entertainment. Track your spending to stay on target.

Be aware of using credit

Pay with cash or debit card and avoid using things such as credit cards and or buy now pay later that you can’t afford. If you do use credit products, stick to what you can afford to repay in full. Consider balance transfers to save on interest but be mindful of fees and repayment deadlines.

Monitor your accounts regularly

Keep an eye on your credit card and bank statements during the holiday season. Report any suspicious transactions to your bank immediately.

Be aware of bad deals or scams

Watch for red flags like “too good to be true” prices, limited-time offers pressuring you to act quickly, or poorly rated or unknown online retailers. Stick to reputable stores, and research sellers before buying.

Get help if you need it

If you’ve gone over budget, take proactive steps to regain control. Create a repayment plan for any debt incurred, prioritising paying off high-interest balances first.

Moneysmart tips: A monthly e-newsletter offering free tools, tips and guidance

Avoid scams as you shop the sales

Online sales offer great deals and convenience, but they also come with the risk of scams. This article provides tips on how to identify potential scams and shop safely during online sales.

Tips to avoid online scams

Interest-free doesn't mean cost-free 

Interest-free deals allow you to pay for items over time, but failing to repay within the interest-free period can result in high charges.

Pay off and interest-free deal on time

Getting a pet this Christmas?

Before getting a pet, ensure they fit your budget and lifestyle, considering both the initial purchase and ongoing costs like food, grooming, vet care, and supplies.

How much it costs to own a dog or a cat

Tips for managing buy now pay later

Buy now, pay later services can be helpful for managing cash flow, but if not used cautiously, they can lead to financial trouble.

Know the cost before you sign up

Develop an investment plan + Check before you invest + Have you got investing FOMO

Planning is the key to successful investing. Creating a plan will help you find investments that fit your investing time frame and risk tolerance, to help you reach your financial goals sooner.

Develop an investing plan

Check the facts before you invest

Before you part with your money, check: Are they licensed? Can I explain how it works? Are there signs it could be a scam? What can I do if something goes wrong? Learn how.

Check before you invest

Have you got investing FOMO? 

If you're hearing a lot of buzz around a type of investment and don't want to miss out, STOP! It might be a hype-driven investment. 

How to avoid investment hype

Moneysmart tips: Simple steps to manage your super

Your super isn't always top of mind when you're focused on juggling work, family life, and the many other responsibilities of adulting. But taking an active interest in your super now, can set you up for the lifestyle you want in the future. 

New research from Moneysmart has revealed the concerning trend that nearly half (48%) of surveyed millennials admit they are not knowledgeable about maximising their super. That's why Moneysmart's new campaign aims to drive awareness about why focusing on superannuation earlier is good for your long-term financial health.

When it comes to your super, extra contributions are just one option for growing your future wealth. Check out these other ways to secure a better financial future. 

Simple steps to manage your super

Check you're being paid the right amount of super

The super guarantee (SG) is now 11.5% of your income. To see how much your employer is paying you, look at your payslip or call your super fund.

How to calculate your super payments

Make sure your super fund can contact you

Your fund will use your email address and mobile number to send you important updates, including your annual statement. Reading your annual statement is a good way to stay connected with your super.

What to check in your annual statement

Check your insurance cover

Most super funds provide life cover and TPD insurance for their members. Make sure you're only paying for the insurance you need.

Tips for choosing insurance through super

Consider combining your super

Moving your super into one account makes your super easier to manage and saves on fees. You can transfer your super for free in a few easy steps.

How to check if you have multiple accounts

How to check if you're eligible for low-fee banking

Choosing the right bank account and regularly checking the fees you're paying can help you look after and grow your money. 

ASIC’s recent report found that more than 150,000 people on low incomes were in high-fee bank accounts, despite being eligible for a basic low-fee account. 

Low-fee accounts are available if you qualify for a concession card issued by the Government. If this applies to you, ask your bank about their low-fee account options.


Read full article

Get More From Your Super

ASIC recently reviewed the superannuation sector and found super funds and financial advisers could do more to monitor investments in super and communicate with members and clients about how their super is performing.

Key points:

  • How your super is invested

  • Investments in super impact your future lifestyle

  • Make the most of your super

Read the full article here.

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2023 tax returns + Suspicious website alert + How CFDs work

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Lodge online with myTax

You can lodge your return using myTax, the ATO's free online tax return. You need a myGov account linked to the ATO to lodge online. Returns lodged this way are usually processed within two weeks.

Lodging with myTax is easy and free. Most information from employers, banks, government agencies and health funds will be automatically included in your tax return by late July. You just check the information is correct, enter any income that isn't included, add any deductions you have, and then submit. MyTax will then calculate your tax for you.

The ATO has 'how-to' videos to help you lodge online using myTax.

Click here to read the full article.

Alert: Suspicious website – Do not deal with www.cambridgeassetmanagement.com

The operators of www.cambridgeassetmanagement.com are promoting various investment plans in leveraged financial products on the website. The operators do not have an Australian financial services (AFS) licence and are not authorised to operate a financial services business in Australia.

Key points

  • ASIC is alerting investors about suspicious ‘investment opportunities’ offered on www.cambridgeassetmanagement.com. The website is allegedly run by a Hong Kong entity, Cambridge Asset Management, that is operating out of Hong Kong.

  • The operators of the website are not licensed to provide financial services in Australia. That means Australian consumers are not protected.

  • ASIC is not associated with the operators of www.cambridgeassetmanagement.com and will never ask you to pay tax to withdraw your investment funds

Click here to read the full article.

Contracts for difference (CFDs)

CFDs let you speculate on short-term market movements. Like foreign exchange rates, share prices, stock market index levels, cryptocurrency rates or other underlying assets. Most people lose money trading CFDs.

Click here to read the full article.