Managing your money
Economic independence and financial security is an important goal for Queensland women. The following information may assist you to:
- be in control of household expenses
- help avoid credit card debt
- provide for your own or your children’s education
- plan for a comfortable retirement
- cope financially at times of personal crisis or changes circumstances.
Visit the MoneySmart website to:
- access the women’s money toolkit for tips and tools to help you manage your money, as women face unique financial challenges such as having less super than men, living longer, and taking time out of paid work to care for others
- do a money health check - answer simple questions about your money and get an action checklist on which areas of your finances need attention
- track where your money goes - record what you spend over a week or fortnight using MoneySmart's free smartphone app TrackMySpend
- start a savings account
- create a budget with MoneySmart’s budget planner
- learn how making bigger payments can save you money by using the credit card calculator; if you can't resist spending think about a debit card instead
- ensure you are protected by reading more about relationships and money and wills
- read helpful tips on loans involving family and friends
- find your nearest financial counsellor.
Bridge the super gap
Sick of hearing reports about the gap between men and women's super? Take action now. Whatever your age, it pays to consolidate your super into one fund and make extra contributions if you can.
- Earn less than $48,516? Get the government's co-contribution if you make after tax contributions.
- Earn more than $50,000? Salary sacrifice into super as the tax is a low rate of 15%.
- On maternity leave? Explore spouse contributions or after tax contributions — even small ones count.
- Five or 10 years from retirement? Look at putting as much into super as you can before you stop work. See more on how to get ready for retirement.
MoneySmart's super contributions optimiser works out which type of contribution will give your super the biggest boost.
It’s important to make sure you are claiming all of your entitlements and taking advantage of the discounts and benefits that can really make a difference. Find out more about concessions available to Queenslanders relating to:
You can also contact the Australian Government to discover if you are eligible for a concession or health care card. Each card has its own eligibility requirements and concessions:
- Commonwealth Seniors Health Card
- Ex-Carer Allowance (Child) Health Care Card
- Foster Child Health Care Card
- Health Care Card
- Low Income Health Care Card
- Medicare Card
- Pensioner Concession Card.
Sometimes, we all need a helping hand. For people experiencing financial difficulty, it’s important to know that help is available.