Invest
The first half of the year may almost be gone, but you can still get your financial resolutions back on track
Invest
The first half of the year may almost be gone, but you can still get your financial resolutions back on track
A new year is a popular time to change long-held financial habits, such as overspending on the credit card, failing to budget or not saving enough for retirement.
If your financial resolutions for this year have fallen by the wayside, Moneytree’s Chief Executive & Founder, Paul Chapman provides some tips on how to get back on track.
The first half of the year may almost be gone, but you can still get your financial resolutions back on track
A new year is a popular time to change long-held financial habits, such as overspending on the credit card, failing to budget or not saving enough for retirement.
If your financial resolutions for this year have fallen by the wayside, Moneytree’s Chief Executive & Founder, Paul Chapman provides some tips on how to get back on track.
Chances are sometime between Christmas 2018 and 1 January 2019, you made some financial resolutions for 2019 and if you are like more than 90% of people, you may not have kept them. So if you are lamenting the fact that we are now closer to year end and your finances are still not in shape, below are some tips to get you back on track.
Keep tabs on your spending
A good first step is to track your spending. There’s a good reason data forms the basis for sound budgeting and financing planning, as without the numbers it can be difficult to know where to start.
There are many ways to track your spending, but the key is to keep it simple and automatic - an excel spreadsheet or budgeting app could be your best bet. Just make sure you cross-check your calculations with your bank accounts – there are various apps that can help you see all your finances into one place, as well as helping you categorise your transactions.
Put your expenditure on a diet
Overindulging financially can be like eating too many calorie-laden meals. It feels good, but it’s also a good idea to know when to stop.
While it might not be realistic to permanently curb your spending, undertaking a temporary financial fast can be a great way to boost your bank balance. However, cutting back does require some preparation. Try packing lunches for work, planning activities with friends that don’t cost money or forgoing taxi trips in favour of public transport. As you experiment with different ways to explore your financial minimalism, you will discover which small changes or financial habits you can stick to over the longer term.
Don’t pay for things you don’t use
Getting rid of subscriptions, gym memberships or other recurring charges you don’t use is often an effective money-saving exercise.
It’s also worth taking a look at your bank accounts to see if there are any that can be consolidated or closed, so you are not paying multiple fees and charges. Take some time to sit down and make sure you are only paying for the accounts that you need and use.
If you are not checking all your accounts regularly, you don’t have a complete picture of your finances.
Giving money gives perspective
Donating some of your hard-earned cash to those in need can be a great way to remind yourself of the power of a dollar.
Once you’ve settled on a charity, decide whether you will make a one-off donation or a regular contribution to a worthy cause. And remember to speak to your accountant, who can help you understand the tax implications, and perhaps claim some of your donation back come tax time.
So, as a new financial year begins, take the opportunity to reset, and tick off your financial resolutions using these tips to help get yourself back on track.
Paul Chapman is the CEO and founder of Moneytree.
RELATED ARTICLES
Investment insights
High-value VC deals surge in 2025 amid overall decline in deal volume
In a year marked by a notable shift in investment dynamics, global venture capital (VC) funding activity in 2025 saw a significant rise in high-value deals, despite a reduction in the overall number ...Read more
Investment insights
De Gaulle Fleurance launches comprehensive service platform for international clients in Monaco
In a strategic move to cater to the complex needs of international clients, De Gaulle Fleurance has unveiled a dedicated platform of services aimed at assisting individuals, family offices, and ...Read more
Investment insights
Colter Bay Capital launches to bridge $25 billion funding gap in Australia's corporate lower mid-market
In a significant move for Australia's financial landscape, Colter Bay Capital has officially launched as a new institutional private credit fund, aiming to address the substantial $25 billion funding ...Read more
Investment insights
Financial markets focus on shareholder engagement as companies report results
In a week dominated by financial market developments and corporate announcements, companies are increasingly recognising the importance of shareholder engagement in driving market outcomesRead more
Investment insights
Future Generation Australia declares increased dividend amid strong investment performance
Future Generation Australia (ASX: FGX) has announced a significant outperformance against the S&P/ASX All Ordinaries Accumulation Index, reporting a 14.1% increase in its 12-month investment ...Read more
Investment insights
New business landscape shifts as regional areas and company setups gain traction
The latest data from the January 2026 Lawpath New Business Index reveals a dynamic shift in how Australians are choosing to embark on new business ventures. While the overall number of new Australian ...Read more
Investment insights
Good Return secures $1 million investment from Macquarie Group Foundation to boost women-led enterprises
In a significant development for women-led enterprises across the Asia-Pacific region, Good Return has announced a $1 million investment from the Macquarie Group Foundation into its Impact Investment ...Read more
Investment insights
Beyond the trophy: what the REB Awards 2026 reveal about real estate’s next competitive play
Nearly 900 submissions for just over 30 winning slots is more than a celebration—it’s a market signal. In Australia’s roughly $10 trillion residential property market, awards have become a strategic ...Read more
Investment insights
High-value VC deals surge in 2025 amid overall decline in deal volume
In a year marked by a notable shift in investment dynamics, global venture capital (VC) funding activity in 2025 saw a significant rise in high-value deals, despite a reduction in the overall number ...Read more
Investment insights
De Gaulle Fleurance launches comprehensive service platform for international clients in Monaco
In a strategic move to cater to the complex needs of international clients, De Gaulle Fleurance has unveiled a dedicated platform of services aimed at assisting individuals, family offices, and ...Read more
Investment insights
Colter Bay Capital launches to bridge $25 billion funding gap in Australia's corporate lower mid-market
In a significant move for Australia's financial landscape, Colter Bay Capital has officially launched as a new institutional private credit fund, aiming to address the substantial $25 billion funding ...Read more
Investment insights
Financial markets focus on shareholder engagement as companies report results
In a week dominated by financial market developments and corporate announcements, companies are increasingly recognising the importance of shareholder engagement in driving market outcomesRead more
Investment insights
Future Generation Australia declares increased dividend amid strong investment performance
Future Generation Australia (ASX: FGX) has announced a significant outperformance against the S&P/ASX All Ordinaries Accumulation Index, reporting a 14.1% increase in its 12-month investment ...Read more
Investment insights
New business landscape shifts as regional areas and company setups gain traction
The latest data from the January 2026 Lawpath New Business Index reveals a dynamic shift in how Australians are choosing to embark on new business ventures. While the overall number of new Australian ...Read more
Investment insights
Good Return secures $1 million investment from Macquarie Group Foundation to boost women-led enterprises
In a significant development for women-led enterprises across the Asia-Pacific region, Good Return has announced a $1 million investment from the Macquarie Group Foundation into its Impact Investment ...Read more
Investment insights
Beyond the trophy: what the REB Awards 2026 reveal about real estate’s next competitive play
Nearly 900 submissions for just over 30 winning slots is more than a celebration—it’s a market signal. In Australia’s roughly $10 trillion residential property market, awards have become a strategic ...Read more
More articles
OUR PLATFORMS AND BRANDS
EVENTS AND SUMMITS
- ACE25 The Accounting Conference and Exhibition
- Australian Accounting Awards
- Australian AI Awards
- Australian Aviation Awards
- Australian Aviation Summit
- Australian Broking Awards
- Australian Cyber Awards
- Australian Cyber Summit
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Law Forum
- Australian Space Awards
- Australian Space Summit
- Better Business Awards
- Better Business Summit
- Broker Innovation Awards
- Broker Innovation Summit
- Budget Summit
- Corporate Counsel Summit
- Defence & National Security Workforce Awards
- Lawyers Weekly 30 Under 30 Awards
- Commerical Finance Awards
- New Broker Academy
- Partner of the Year Awards
- Partner Summit
- REB Awards
- Rising Star Awards
- SME Bootcamp
- Women in Finance Awards
- Women in Finance Summit
- Women in Law Awards
- Women in Law Forum
PODCASTS
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.