Dr. Gina Cleo’s Tips And Tricks To Achieve Financial Wellbeing

Dr. Gina Cleo is the Director of Habit Change Institute; the company providing comprehensive courses that help you to become a certified Habit Change Practitioner in areas like business, sustainability, wellness, and many more.

Dr. Cleo has provided us with some advice on how to achieve a sense of financial wellbeing with these four easy tips from a research study conducted by Commbank:

• Automate your bills and savings – Set up default systems so you’re not depending on your willpower. For example, set up an automatic transfer that scoops money into a savings account every time you get paid. In the same way, set automatic payments for your regular bills. More automation means less brain space required.

• Ensure you always check your balance – Seventy per cent of Millennials say that being on top of their finances makes them feel most accomplished, this includes knowing how much money is in their bank account. Create a habit of checking your bank balance twice a week. Habits are formed best when you do them at the same time of day (e.g., 7pm). To help you get started, use a recurring alarm as a reminder. With time and consistency, checking your bank balance will become an automatic habit.

• Keep a diary/ record your spending – Keeping a diary will help keep you on track and better manage your finances. Using tools such as Bill Sense feature in the CommBank app is really handy, as it helps you to predict upcoming bills, enabling you to stick to your budget and stay on top of your finances without any surprises!

• Keep your focus on consistency – Strike a balance with your savings by putting away realistic amounts of money each week. Trying to save too much and not enjoying life could result in you falling off the wagon and abandoning your financial goals altogether. Start small, there’s no need to cut out all of life’s pleasures