Managing your financial health

Understanding financial health

Financial health is an important part of our lives. When we take care of our financial health we can better manage financial stress and achieve our financial goals.  

Financial health is made up of three components: 

• the ability to meet everyday commitments like paying your bills and making loan repayments
• the resilience to cope with and recover from unexpected financial events, like your car breaking down or losing your job
• putting yourself in a position to plan for the future and pursue your goals.

When we maintain good financial health we’re in a better position to handle life's ups and downs.

How NAB can help

We can help you build your financial health and better understand your finances. We have articles you can read, and tools and calculators to help you make informed financial decisions. There are also many features in the NAB app and internet banking to support you.

Understand your spending

To make the most of your finances you need to know where your money is going.

You can use our budget planner or track your spending using internet banking. 

For more hints and tips read about how to save and budget. 

Start saving

Once you know what you’re spending your money on, you can focus on saving. 

You can do this by setting up a savings goal in the NAB app. 

If you’re just getting started, find out how to save money for beginners. Or become a better saver with these savings tips.  Also, learn how interest rates work and how they can help you reach your savings goals.

Understand credit and your creditworthiness

If you’re considering credit, it's important to understand what credit means, the different types of credit and how to manage it.

It’s also important to be aware of your credit rating and your creditworthiness. The better your creditworthiness, the more ways you’ll have to get ahead financially. Read tips to boost your creditworthiness. 

Use your credit card effectively

Credit cards can be confusing, so make sure you understand how they work. You can use our tool to help you choose the right card for you or compare credit card options. 

It’s also important to know about your credit card limit, fees and interest.

Read more about managing your credit card. You can also set up a notification to let you know when you’re approaching your limit.

Buying a home

Buying your first home is a huge step. Read our advice for first home buyers to learn everything you need to know, from saving for a house deposit to searching for the perfect property.

Use the borrowing calculator to  estimate how much you could afford and what your repayments would be.

If you already have a home loan, we've put together some practical tips to help you pay off your home loan quicker.

What to do when you’re experiencing financial hardship

If you’re experiencing financial difficulty, there are ways to get back on top. If you’re a NAB customer, get in touch. We know it can be hard to pick up the phone – you might feel awkward, embarrassed or stressed. But we understand that sometimes things are outside your control, such as illness or suddenly losing your job. 

We’re not here to judge – we’re here to help. Our guiding ethos is ‘Do the Right Thing.’ This means we have a responsibility to help our customers and community with their finances.

Visit our financial hardship hub to learn more about how we can help when you’re struggling with your finances.