Organising your finances for 2024

9 tips for a better year.

Are your finances ready for 2024? The new year is a great time to assess your banking habits and find ways to streamline everything from payments to savings.

There are plenty of digital tools and strategies you can use to save time and make your finances more convenient and secure. You just have to know where to start.

We’re sharing nine ways to organise your finances so you can have a better 2024.

1. Review your accounts

Are you throwing away money on banking fees? Could you get a better interest rate for your savings? Compare features, fees, and interest rates of your accounts to make sure they are still meeting your needs. You might be able to find an option with no fees, more flexibility, and better features that will help you bank with ease this year.

2. Register for online banking

Online banking can make your life easier and save you precious time. By accessing your account online, you can take advantage of the following and more:

• Check your balances or view your transactions 24/7

• Transfer funds between your accounts

• Schedule automatic payments

Register your account for online banking and download the Greater Bank app to your mobile device so you can start doing most of your banking from home or on the go in 2024.

3. Make sure your details are up to date

Have you moved in the past year? Did you switch to a new primary email address or phone number?

Take a few minutes to make sure your account details — including your mailing address, email, and phone number — are up to date so all sensitive documents are sent to the proper location.

4. Assess your spending

Take a look at your statements for 2023. If you use online banking, you can easily find your transaction data online instead of sifting through paper documents.

See if there are any expenses you don’t need anymore, such as subscriptions or services you are no longer interested in using. Cancel anything you don’t need or want so you can start 2024 with more disposable income.

Take advantage of app features like notifications so you can keep track of deposits, withdrawals and even get alerts when your account balance is high or low to help avoid unnecessary fees.

5. Create a new year’s budget

After you’ve looked over your 2023 spending habits, you can create a monthly budget for the upcoming year.

• Write down your typical monthly expenses

• Make sure your spending is less than your monthly income

• Decide how to distribute any extra income to savings or extra debt repayments

6. Put your savings on autopilot

Make saving easier in 2024 with automatic transfers from your everyday bank account to your savings account.

Decide how much you’d like to deposit each month and then schedule a recurring transfer. You’ll earn more by keeping a higher balance in a high-interest savings account, helping you reach your savings goals faster.

7. Set up your digital wallet

Many Aussies are opting to use digital wallets, and for good reason.

The advantage of having a digital wallet is you don’t need to bring your physical wallet with you. Once you add a card, everything you need to make a purchase can be access via your mobile phone. Your payment information is also kept safe by several layers of robust security and isn’t shared with retailers.

8. Prepare for the unexpected with an emergency fund

An emergency fund is an account with enough savings to cover three to six months of expenses. If you don’t have that amount saved now, make it one of your primary 2024 financial goals.

Pro tip: keep your emergency fund in a high-interest savings account. That way, you’ll earn a good amount of interest on your hard-earned savings, helping you grow your financial safety net effortlessly.

Another great advantage of the app is that you can hide and unhide accounts, making it less tempting to access your savings. Out of sight, out of mind!

9. Insure your future

Make sure you have the right insurances in place. From home and contents to travel insurance, find out if you are properly covered without overpaying for protection you don’t need.

You can talk to your insurance company about updating your policy to review your current needs. If you feel like you’re paying too much, shop around to see if you can get a better deal on the insurance you need.

Make 2024 the year you make your personal finances work for you

With a little prep work and organisation, you can set yourself up for a better year. Make sure you have the right accounts, secure and convenient banking and payment habits, and a plan for the future, and you’ll be ready to enjoy the year knowing you’ve done everything you should for your finances.