Money Matters

Get more bang for your buck in 2023!

22 Dec 2022

3 minute read

Get more bang for your buck in 2023!

It’s safe to say that the rise in cost of living in 2022 was a shock to the system. But with 2023 on the horizon, now’s the time to tighten up your finances and head into the new year to make sure you’re getting more bang for your buck 😎. To get the ball rolling, we’ve put together some easy-to-follow hacks…so keep on reading!


Subscription check

Subscriptions can easily fly under the radar and out of your bank account reeaal quick! So, we’re guessing that it’s probably time to take a deep dive into your bank statements and review your subscriptions. All you need to do is note down all your active subscriptions and work out the total monthly cost (be prepared, they add up quickly!). Once you’ve done this, it’s elimination time. If you don’t frequently use it, forgot you even had it, or only subscribed for that one TV show…it’s time to cancel.


Don’t forget insurance!

Health, car, life, or home insurance…when was the last time you revisited your premiums and inclusions and shopped around to see what other companies are offering? Switching providers could come with some awesome rewards (we will get to that soon!) or a cheaper rate 💰. If you’re happy with your provider but they’ve been upping the premium, don’t be afraid to give them a call and see what they can offer you.


It’s all about the rewards

If you haven’t explored rewards programs, you’re missing out! Have an ongoing travel itch? Air points could get you a hot deal on tickets or accommodation. Plus, take advantage of the rewards offered by your private health, car or home insurance, even your bank and utility providers sometimes offer hidden gems! There’s plenty of companies that have rewards and member perks sitting right under your nose. Qantas Frequent Flyer will even give you points for reaching your daily steps, getting your car checked and sleeping 🤯!



Budget timeee

Last but definitely not least…it’s time to re-budget. As the years go by and your lifestyle and priorities change, your budget should as well. There might be a system that works for you, or you could be keen to change it up – we’re down with whatever! Something that never fails is the 50-30-20 rule (yes, we’ve touched on this before 👀). It’s simple:


  • 50% of your take home pay is for essentials (rent/mortgage, bills, groceries, insurance)
  • 30% is for lifestyle (shopping, gym, hobbies, eating out)
  • 20% is for your financial future (paying off debt, saving or investments).


Once you put everything into play, you can sit back and watch your savings flourish. Plus, knowing you have MyPayNow in your back pocket for any emergencies that arise will give you the chance to relax and focus on bigger and brighter things ahead 👏.