11 Ways to Keep More Money in Your Pocket
Take Charge of Your Money
Financial stress can affect anyone, especially with rising living costs across Australia. The good news? Simple, intentional steps can help you keep more of your hard-earned money, reduce unnecessary spending, and build confidence in your financial decisions. In this guide, we share 11 practical ways to reclaim your cash and improve your overall money wellbeing.
11 Ways to Keep More Money in Your Pocket
1. Track Every Dollar
Understanding where your money goes is the first step to saving. Record all income and expenses—even small daily purchases—so you can identify where you can cut back. Tools like Pocketbook or MoneySmart’s budget planner can make this simple and visual.
2. Review Subscriptions
From streaming services to gym memberships, recurring subscriptions quietly drain your finances. Review what you use regularly and cancel or downgrade unnecessary services. Even small monthly savings quickly add up.
3. Prioritise High-Interest Debt
Credit cards and personal loans with high interest can silently eat your budget. Focus on paying off high-interest debt first while maintaining minimum payments elsewhere. This reduces interest payments and leaves more money for your goals. (ASIC MoneySmart: Managing Debt)
4. Cook More at Home
Regularly buying lunch or takeaway adds up. Preparing meals at home allows you to control costs and eat healthier. Planning weekly meals and batch cooking can save hundreds each month.
5. Sell Items You Don’t Use
Unused items around the house—like old electronics, clothes, or furniture—can be sold through platforms like Gumtree or Facebook Marketplace. This helps declutter your space and brings extra cash into your pocket.
6. Explore Better Banking Options
Some Australian banks offer no-fee accounts, high-interest savings, or cashback incentives. Comparing accounts can help you save on fees and earn interest on your savings. (Canstar: Compare Bank Accounts)
7. Use Rewards Programs
Loyalty points, cashback, and reward programs from stores or cards are money you’ve already spent. Redeem points for essentials, groceries, or bills to stretch your budget further.
8. Try No-Spend Days
Choose one or two days a week to avoid discretionary spending entirely. Planning these no-spend days encourages mindful consumption and helps break unnecessary spending habits.
9. Check for Forgotten Funds
Old bank accounts, tax refunds, or unclaimed superannuation balances may be waiting for you. Check MoneySmart’s unclaimed money search to reclaim funds you might have forgotten.
10. Build an Emergency Fund
Even small contributions into a dedicated emergency fund help prevent unexpected expenses from turning into debt. Start with manageable amounts each week, and increase as you can.
11. Subscribe to MyMoneyMedic
The most effective way to consistently keep more money is with guidance and support. By subscribing to MyMoneyMedic, you receive personalised tips, tools, and advice to manage finances, reduce stress, and make smarter money decisions every day.
Want to be a test user of our new app on TestFlight? Click here to join and get early access to tools designed to help you take control of your financial wellbeing.
🎥14 Easy Ways to Put More Money in Your Pocket & How to Keep it Simple
Money-Saving Tips from MyMoneyMedic
- Start small: Focus on one or two strategies and build from there.
- Automate savings: Set up regular transfers to savings or emergency accounts.
- Review monthly: Monitor spending, adjust habits, and celebrate small wins.
Final Thoughts
Saving money and building financial confidence doesn’t require drastic lifestyle changes. With deliberate tracking, reducing unnecessary costs, and utilising smart banking and rewards options, Australians can regain control over their finances. Remember, MyMoneyMedic is here to guide you, step by step, toward a more secure financial future.
