💡 5 Easy Budgeting Tips for Young Aussies

Budgeting doesn’t have to be boring or overwhelming. Whether you’re a student, starting your first job, or just trying to save a bit more each month, here are five easy and practical tips to help you get started:

1. Track your spending (yes, even the iced coffees!)
Use a budgeting app like Pocketbook or even just a notes app and excel to track where your money is going. You’d be surprised how the little things add up. Once you see your habits, it’s easier to make small changes.

2. Set a savings goal
It could be for a holiday, a new phone, or even a rainy-day fund. Having a goal gives you a reason to say “no” to impulse buys. But here’s a tip: don’t aim too high right from the start. If you set an unrealistic target, it can feel discouraging. Start small, and once you achieve those goals, you’ll build momentum to tackle bigger ones.

3. Try the 50/30/20 rule
Allocate 50% of your income to needs, 30% to wants, and 20% to savings or debt repayments. It’s a simple way to structure your budget without overcomplicating things. Plus, it helps you keep a balanced approach to spending and saving.

4. Automate your savings
Here’s the hack: set it, forget it, and let it grow. Once you get paid, automate a portion of your income to be transferred straight into your savings account. The best part? You won’t even miss it, and it’ll make saving feel effortless without having to think about it every month.

5. Use a high-interest savings account
Look for banks that offer bonus interest when you deposit regularly (like ING or Up Bank in Australia). This way, your money works harder for you. Even small deposits can grow faster with the right account.

Start small, be consistent, and make budgeting part of your routine — your future self will thank you!

~ N’s Money Corner

I’m here to help you feel more confident with your finances, no matter where you’re starting from. To learn more about me and why I started this blog, head over to my About Me page. I’m excited to share my tips with you along the way!