12 finance tips to take charge of your money in 2026

Cost of living pressures seem to be on all our minds lately, and Canstar’s most recent Consumer Pulse Report highlighted some areas where Aussies are particularly feeling the pinch. High housing costs were our biggest concern for the year just gone, followed by grocery prices and rising insurance premiums.

If you’re looking to take charge of your finances in 2026 but are feeling daunted at the prospect of where to start, then fear not. These 12 finance tips could provide some food for thought on strategies to ease the strain on your budget, whether that means paying off credit card debt or saving money at the checkout.

1. Set goals and a budget

First and foremost, it can be beneficial to set your goals for 2026 and create a weekly or monthly budget. That way, you can have a clearer picture of what you’ll need to pay the bills while also progressing your longer-term plans and savings goals.

2. Tackle credit card debt

Aussies are estimated to have spent $87 billion on credit cards over Christmas-new year, sparking warnings of a national debt hangover. If credit card debt is weighing you down, consolidating your debt into a personal loan can be an option to tackle it. Our list of 7 tips to pay off credit card debt could also be helpful.

3. Take a look at your mortgage

If you have a mortgage, you may be satisfied with your current rate and lender, but if you feel like your rate has crept up and you’re paying too much, it could be time to switch. Canstar’s Cost of Living Comparison estimates that a borrower with a $600,000 loan could save up to $1,872 annually by switching to a lower rate.

4. Find ways to lower your checkout spend

Our Consumer Pulse Report found that grocery prices were Aussies’ second-biggest financial headache of 2025. To get on top of rising costs, consider planning meals ahead of time, switching to cheaper brands, and comparing unit prices when you shop. Canstar estimates that the average household could save $2,040 by switching 50% of the weekly grocery shop to cheaper brands.

5. Review your mobile phone plan

It might seem like a small expense, but switching the phone plans across a family of four to ones that are $10 per month cheaper adds up to $480 over a year.

6. Check your insurances

In 2025, 39% of property owners experienced an average home and contents insurance increase of $480, yet only 11% switched providers and secured a lower premium. Compare home, car, and health insurance policies to ensure you’re not overpaying for cover. Remember, you might not have to wait until your policy comes up for renewal to switch.

7. Audit your subscriptions

Do you have a streaming app that you haven’t opened in months? Review the cost of your subscriptions and cancel unused movie, TV or music streaming services and apps, and check to make sure you and your partner aren’t paying for any services twice. This could be one way to reduce monthly outgoings.

8. Ask if your savings are working for you

Check to make sure any money in your savings account is earning a high competitive rate and that you’re meeting all conditions to qualify for that rate every month.

9. Review your utilities

Compare electricity, gas, and internet plans and switch to better-value providers if possible. Canstar estimates that if the average household in Sydney switched from a typical plan to the lowest, they could potentially save $285 in the next year.

10. Prepare for year-end expenses

Plan ahead for holiday and back-to-school spending to avoid overspending under pressure. Think about capitalising on the pre-Christmas sales.

11. Sell unused items

Declutter and sell items you no longer need to generate extra income.

12. Conduct an annual financial review

At year’s end, reflect on what worked, update your budget, and set fresh financial goals for the year ahead.