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4 money moves to make in 2024

Happy New Year! As we close the calendar on 2023 and turn our focus to 2024, many of us will be setting goals and intentions.


Unsurprisingly, recent research found 38% of us are resolving to improve our finances in 2024. The second most popular resolution after improving fitness.


While the intent is there, the same research unfortunately found the average resolution only lasts between two and four months on average, with most people either giving up or forgetting about it at that point.


So how we can tangibly improve our finances in 2024? While cashflow is important, rather than resigning yourself to a life of frugality – we’ve put together four high-impact money moves you can make to improve your long-term financial position.


Instead of trying to move the needle forward with lots of little unsustainable actions – it’s time to focus on big actions to make a big difference. 

You can also check out financial adviser Billy Norman's 2024 ins and outs below.


1. Get rainy day ready

While it may not seem like the most obvious improvement – financially preparing for a rainy day is one the best things you can do not just for your finances, but your peace of mind.


Commbank research found one in three Aussies couldn’t come up with $500 in an emergency. The same number of Aussies also said they couldn’t handle a major unexpected expense. While one in two Aussies said they wouldn’t have enough to handle a temporary loss of income.


The first way to get rainy day ready is to save an emergency fund. If you don’t have a cash buffer, this should be your priority before any other kind of savings or investments.


In addition to your emergency fund, you’ll need to sort out your insurances to cover anything you can’t afford to replace – this could be things like your home, contents and car. 


It’s also important to insure yourself in case something happens to you through options like income protection, total and permanent disability, and life insurance. These can be accessed through your superannuation – but they may not be the best product for your situation so get some advice.

While you’re looking at insurances, this brings us to our next money move…


2. Sort your super

Unless you’re approaching retirement, it can be very easy to put off sorting out your super. It seems like a future you problem, right? Wrong! 


Taking some time to check on your super and make any necessary adjustments can result in a huge difference to the balance you retire with. Do you have multiple super funds? If so, plan to consolidate them. Before consolidating, be sure to check what insurances you have in each fund to make sure you’ve got the best cover for your situation. Seek some advice if you’re unsure. 


Check your investments to ensure they’re in line with your goals, timeframe, and risk profile. Also be sure to check on the performance of your fund and what fees you’re paying.


3. Make more money!

We all know wages aren’t keeping up with inflation – we’re feeling it every time we pull out our wallet at the supermarket and petrol station. So, what can we do about it? We can focus on making more money in 2024.


Whether it’s growing your existing business, getting a promotion, asking for an overdue raise, finding a higher paying job, or finally getting that side hustle off the ground. While it’s great to cut down expenses to save – you can only cut them down to a certain point. The real power move is increasing your income! There is no ceiling to how much money you can potentially make.


4. Get the help you need

If you’ve got big goals – we can help! The final high impact move for 2024 is to ask for help from the experts when you need it. It’s often the best money you’ll ever spend.


We work with business owners, professionals, and families to get their finances sorted. 


We’ll help you put together a clear financial road map and hold you accountable to reach the milestones along the way.


PS…the moves we mentioned above like personal insurances and sorting your super? We can sort all of that for you with a personalised plan.


Check out our team and book in for a free 15-minute chat with one of our advisers to talk about your current situation, what you want to achieve and how we can help you.




General advice disclaimer: The information contained within this post is general in nature and does not take into account your personal circumstances. Please reach out if you wish to discuss your personal situation.

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Link Wealth Group

We formed Link Wealth Group because we noticed so many financial advice practices overcomplicate the financial planning and mortgage process. It doesn’t have to be difficult! We know we can provide top-notch easy-to-follow wealth advice to Australians in a way that also empowers you to be in control of your finances and your path to financial freedom.

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