Five simple ways to reset your money habits

Build better money habits one step at a time

Managing your money can feel like another task on the list. Building better money habits does not mean changing everything at once.

Here are five simple habits to try.

1. Work out where your money is going

Small purchases add up. Look back over the past few weeks to see where your money went, including any categories that are higher than you expected.

Spending in the NAB app and NAB Internet Banking groups your transactions into categories so you can spot patterns over time. You can also set an amount against a category if you want to reduce or maintain that spending.

Track your expenses with Spending

2. Plan for bills and subscriptions

Knowing what is coming out of your account can be as useful as knowing what you have already spent. Get across your regular bills and subscriptions so you can plan ahead.

Upcoming in the NAB app and NAB Internet Banking uses regular payments from personal accounts to estimate bills and subscriptions due in the next 30 days. A prediction is a reminder only. It does not take money from your account, and it may not match an actual bill.

Track bills with Upcoming

3. Focus your budget where it matters

You do not need to track every dollar. Start with one or two categories where you want more control, such as eating out, shopping or entertainment, and set a realistic amount.

Budgets in the NAB app and NAB Internet Banking lets you set an amount by category and track your progress against it. It does not stop you spending. It helps you see when you are over your planned amount.

Create a budget with Budgets

4. Give your savings a clear target

Saving more is easier when it is tied to something specific, such as a holiday, an emergency buffer or a purchase you have been planning. A clear target helps you see progress.

Saving Spaces in the NAB app and NAB Internet Banking lets you separate savings into different goals in one eligible account. Spaces can be linked to a NAB iSaver or NAB Reward Saver held by a sole account holder. It is not available on transaction accounts or joint savings accounts.

Organise savings with Saving Spaces

5. Set a regular money check-in

You do not need to check your finances every day. Set aside a few minutes each week or fortnight.

Look at what you have spent, what is coming up, and how you are progressing towards your goals. If something is not working, a small change now is usually easier than catching up later.

Small habits can add up

There is no single right way to manage your money. Start with one or two changes that feel achievable, then build from there.

The NAB app and NAB Internet Banking have tools that can help you see where your money is going, plan for what is ahead, and track your goals.