The start of a new financial year is a great time to take control of your money. Whether you're earning a little from a part-time job or just starting to think about your future, these seven tips can help you build good financial habits.

A budget is a simple plan that shows how much money you have coming in and how much you have going out. Write down your income and all your regular expenses—like food, transport, and entertainment. This helps you see where your money goes and where you might be able to save.

An emergency fund is money saved for unexpected events, like a broken phone or a surprise bill. Try to save a small amount regularly, even if it’s just a few dollars a week. Over time, this can grow into a helpful safety net.

If you have any debts, especially ones with high interest (like credit cards), it’s smart to pay them off as soon as you can. Interest adds up quickly, so the faster you pay it off, the more money you’ll save in the long run.

Investing is a way to grow your money over time. You don’t need a lot to start—some platforms let you invest small amounts. Look into options like index funds or exchange-traded funds (ETFs), which are often lower risk. Always do your research or ask someone you trust before investing.

Superannuation (or “super”) is money saved for your retirement. Even if retirement feels far away, it’s worth checking your super account now. Make sure your employer is paying into it and that your money is being invested in a way that suits your goals.

Insurance helps protect you in the event of an unexpected occurrence. This includes things like car insurance, home contents insurance, and life insurance. At the start of the financial year, check that your cover is still right for your needs. If your life has changed, like moving out of home or getting a new job, you might need to update your policies.

Having a goal makes it easier to stay motivated. Whether you’re saving for a car, a trip, or something else, break your goal into smaller steps. Track your progress and celebrate small wins along the way.

Final Thought: You don’t have to do everything at once. Pick one or two areas to focus on and build from there. A new financial year is a fresh start—use it to build habits that will help you now and in the future.