This article shares five ways to level up your finances during lockdown, as initially shared in the August How To Money newsletter (sign-up here).

Dear How To Money Reader,

It has been a month, and my brain has certainly felt foggy throughout these lockdowns, but the skies have parted enough for me to write this to you today!

I thought what I’d share with you this month are five ways to level up your finances during lockdown because taking small steps in a positive direction is something that really helps me during these periods of uncertainty.

If you’re not in the space to read this right now, I totally understand, you need to prioritise your wellbeing at the moment, and this email isn’t going anywhere.

Anyway, if you’re interested, let’s get into five ways to level up your money and life during lockdown!

Idea 1) Listen to those podcasts and audiobooks you’ve been saving for a rainy day

Take the time to soak up knowledge during your daily walks or while cooking, as it’s a great opportunity to learn from different sources. Check out free finance podcasts like The Australian Finance Podcast, My Millennial Money, The Broke Generation, Financial Autonomy and of course How To Money! 

Many great personal finance books are available as audiobooks as well, if that’s your thing. Check out my personal finance booklist here.

Idea 2) Attack your rates without mercy

If you haven’t already spent some time during the various lockdowns comparing the rates on everything from your phone bill to your mortgage, it’s time to get onto that. 

Pick one of your monthly bills each day and make it a personal challenge, to go and hunt for something that’s better in value, while still suiting your needs. 

Plus, finding a better deal will save you money, which means more hard-earned cash towards your financial goals!

Idea 3) Give your Super some love

Another aspect of our financial life we often neglect until we come close to retirement, is our Super(annuation) fund.

So, once you dust off your login details (or login to your ATO MyGov account to find any funds tied to you), try to find the answers to each of these questions…

  1. Do I have multiple Super funds?
  2. What is your Super fund investing in?
  3. What fees am I paying?
  4. What is the 5 or 10 year historical performance of my fund?
  5. What insurances do I have within my fund (if any)?

Once you’ve armed yourself with this information, you can get comparing using the ATO MySuper tool, or through websites like Canstar and Chant West. Plus, Rask Education has a free course on getting on top of your Super, that you can check out here.

Idea 4) Refresh your 2021 financial goals

Given how much change there’s been over the last few months, it may be time to review those financial goals you set for yourself at the beginning of 2021, and assess whether they need to be adjusted.

There’s no point working towards the same goals if your situation has changed, and they’re just not achievable anymore. 

Conversely, you may be exceeding the benchmarks you set for yourself, so you can push the goalposts a bit further out.

Financial goals shouldn’t be etched onto stone, keep them fluid to move with the ebbs and flows of your life!

Idea 5) Take a free personal finance & investing course

And finally, if you’re ready to get your head around investing, your Super, buying property and the FIRE movement, there’s plenty of free courses available on Rask Education, put together by independent industry experts! For any new readers, I do some work for Rask Education as part of my day job.

So there you have it folks, I hope you’re able to do something positive for your financial future during this challenging time!

Kate – HTM Founder & Editor