New money for Australia

The Reserve Bank has spent the last few years and over 9 million dollars on new bank note designs. You can check out the potential new notes here. The new notes are meant to have a more youthful, energetic appearance.

Since the bank is changing things, why don’t we all take a fresh look at our money? If we took the same approach of being more youthful and energetic with our money, would you do anything differently?

For some, being youthful with their money might mean spending frivolously, because we tend to have more disposable incomes before we settle down and have kids. Others might consider youthful to mean they should start young, putting aside money for retirement, saving for a house deposit and learning good money habits in your youth.

While energetic could be taken to mean you actively take an interest in your finances, seeking out the best returns and best ways to use you money wisely, or it could mean you are spending your money on life experiences.

For me, a new look, a more youthful and energetic look at my money would include the following:

– Living for today, but still saving for tomorrow. I have a bucket list and want to travel a lot, so I am saving small amounts from my income to put towards doing these things, at the same time as saving for my future.
– Having an energy and interest in my finances. Knowing what my money is doing, having a budget and living within my means, but being happy about it. Getting to know more about things I want to invest in, pay off my house, save so I can pay cash for things I need etc. Using my motivation wall and graphs I mentioned in this post to see how I am going with everything.
– Teaching my children about money. My children are only 3 and 5, so very youthful and energetic! They have a lot to learn and the best place for them to learn is at home. For me to teach them things in their everyday lives, with things they do all the time. For me to lead by example, manage my money well, so they will too when they are older.
– Reviewing all my expenses such as insurance, phone, internet etc. to make sure I am getting the best deal, as well as knowing what different options include and what I am getting for my money.
– A new approach would see me slash what I don’t need and won’t miss, so I can spend my money where it will work for me best and enable me to live my dreams and achieve my goals.

What would a new look, a more youthful and energetic look at your money mean to you?

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