Money doesn’t have to be mystifying. It’s about learning the language of your finances, so you call the shots. This is your starter kit: budgeting, saving, investing, handling debt and planning for retirement (yes, super too). 

Almost half of Australian adults don’t demonstrate understanding of basic financial concepts, and women trail men in these core skills. Around 63% of men grasp at least three basic financial literacy concepts, compared with 48% of women. That means about 45% of adults overall may be struggling to master their finances. 

According to the Salvation Army, nearly 46% of Australians report being in debt (January 2025), often from credit cards or buy-now-pay-later schemes. More than half of us set financial goals each year, but only about 12% stick to them, according to ASIC’s Moneysmart.  

If this feels like you, these numbers confirm that you’re not alone. 

 Money management is a life skill. It’s not often taught in school – and often not in families, either – so for most of us it’s a journey of lifelong learning. And the more we learn, the more confident we feel to build wealth.  

So to kick off, let’s jump in with some basics.  

Budgeting means knowing what money is coming in and what it’s being spent on – and deciding where it should go. 

You don’t need to earn heaps to budget successfully; you just need clarity. Budgeting gives you choice. Instead of wondering where all your money went, you get to decide where it goes. 

• List income vs regular expenses. 

• See where you can trim non-essentials. 

• Build space for savings and goals. 

Budgeting isn’t about restriction. It’s about visibility. 

• Learn how to build a budget that actually works 

Even if it’s teeny amounts, putting money aside so you’re prepared for emergencies and opportunities. 

Amid global uncertainty and a rapidly changing world, savings give you the buffer zone that can protect you in unforeseen circumstances. Job loss, emergency repairs, unexpected bills, all become less terrifying if you’ve built up a financial safety net. Plus, it feels pretty sweet to have a holiday fund gradually growing to reward yourself.  

Australia’s household savings ratio rose to 5.2% in 2025, it's highest in years – a sign folks are trying to stash more away.  

• Start with a ‘rainy day’ buffer. 

• Automate transfers, even small ones. 

• Use apps, calculators and goal-based tools to track progress. 

• Celebrate every win. 

Remember: a savings habit beats perfect timing. 

Understanding your debts and prioritising how you pay them off smartly. 

Debt itself isn’t evil, but mismanaged debt is. 

Debt is expensive. You’ll almost always get charged more interest than you can make on savings. Right now, many Australians are juggling credit-card balances and debt that can quickly cost more than the original purchase. Substantial credit-card spending reached record highs in 2025, with interest-accruing balances increasing from the year before. New year is a particularly vulnerable time.  

• List all debt and interest rates. 

• Make a plan (the debt section in our budgeting guide might help). 

• Ask for help if stress feels overwhelming. 

Debt plans are rarely one-size-fits-all, so tailoring yours makes all the difference. 

Investing means putting money into assets (like shares, managed funds, ETFs or property) with the aim of growing it over time. 

There’s a persistent myth that investing is only for rich people – it isn’t. Investing is a long game, so starting early gives you time on your side. 

It’s not as complicated as it sounds, and you don’t need much money, especially with micro-investing apps that send your spare change to your choice of investment portfolios. It’s never too early or too late to start – but starting early can deliver outsized long-term gains. 

Important note: Make sure you understand the fees, risks and tax consequences before opening any new investment account. 

Compared to putting your money in a bank account, investing can carry greater risk but also greater reward over time.  

The risk is that you might lose some of it in the shorter term, as investment markets can go up and down. That’s why it’s best to think of investing as a long game.  

The reward is that over time, investment markets tend to weather the ups and downs and historically have climbed steadily over many years or decades.  

If you have superannuation, you’re already an investor. You’re planning ahead for future you.  

• Log in to explore your super 

• Research microinvesting apps 

• Learn more about investing

Superannuation is compulsory retirement saving in Australia; money your employer pays into for you.  

With the super guarantee now at 12%, super is a major force in building your financial future – whether you think about retirement yet or not.  

But here’s the kicker: women typically retire with less super than men because of systemic issues like career breaks and gender pay gaps.  

• Log into your super to track your balance 

• Check your beneficiaries and make a will 

• Think about voluntary contributions if you can 

Super isn’t something you fix later. It’s something you own now. 

Money management isn’t a one-and-done achievement. It’s a system of habits, built and strengthened over a lifetime.  

Your tools include: 

• Budgeting 

• Saving  

• Reducing debt 

• Investing  

• Growing super 

Start small. Focus on consistency over perfection. Each step builds confidence and choice. 

You don’t have to master all these overnight. Even a tiny step is progress, for example setting up an automatic transfer or roundup. 

Verve Super members don’t have to do this alone. If money management feels overwhelming, remember: 

• Our financial coaching team is here to help you build confidence and clarity — reach out whenever you need. 

• Explore How to budget to make a plan for your income.  

• Check out Investing basics to keep learning. 

✔ Track income & spending 
✔ Build a small savings buffer 
✔ List and prioritise debts 
✔ Learn basic investing concepts 
✔ Check your super regularly 

No. This is one of the biggest myths around money, and it keeps too many women on the sidelines. 

Investing isn’t about how much you start with, it’s about starting. Many people begin with small, regular amounts and build over time. Your super is also a form of investing, even if you’ve never thought of it that way. 

What matters most is learning the basics, understanding risk, and thinking long-term – not having a huge lump sum on day one. 

You’re here. You’re already doing it. 

Start with: 

• Plain-English guides (like this one) 

• Trusted Australian sources such as ASIC’s MoneySmart 

• Our investment basics 101 

You don’t need to rush into action. Confidence comes from understanding, not pressure.  

This is one of the most common money questions. 

There’s no universal rule. Many people aim for a balanced approach 

• Paying down high-interest debt (like credit cards), while 

• Still building a small savings buffer so unexpected costs don’t send you further into debt 

You’ll buy yourself breathing space by tackling your highest-interest or most urgent debts first. But it does depend on circumstances. If this decision feels stressful or complex, that’s a sign to seek support, not push through alone. 

Saving isn’t about income level, it’s about habits and systems. For many women and gender-diverse people, saving looks like: 

• Small, automated amounts 

• Saving inconsistently, not monthly 

• Re-starting after life gets in the way 

Progress counts, even when it’s slow. A $10 transfer still says: I’m backing my future self. 

Yes, and not because retirement is imminent. 

Super works over a long time. The earlier you engage with it, the more power time has to do the heavy lifting. This matters even more for women, because career breaks and pay gaps can quietly compound over years. 

Checking in on your super now is an act of self-respect – not something to be ‘left for later’. 

You don’t have to figure this out on your own. 

If you’re a Verve member, our financial coaching support is there to help you understand your options and build confidence – without judgement or jargon. 

And if you’re still learning, continuing with Verve Learn is a strong next step.