As the weather warms up and western Sydney households turn their attention to clearing out cupboards and tidying the garden, it’s worth applying the same energy to your finances.
A financial spring clean doesn’t take long, and for many households it can uncover savings that add up to real money over a year.
Start with bank statements
Most of us set up subscriptions, memberships or direct debits at some point and then forget about them. Pull up the last two or three months of transactions and look for:
• Subscriptions you no longer use (streaming services, apps, gym memberships)
• Duplicate services (two music platforms, overlapping insurance cover)
• Small recurring fees that have crept up over time
• Account-keeping fees on accounts you barely touch
Cancelling even two or three forgotten subscriptions can free up $50–$100 a month, money that’s better off going toward debt reduction or savings.
Check where your savings are sitting
Many people set up a savings account years ago and never revisit the interest rate.
Banks regularly launch new savings products with better rates for new customers while older accounts quietly fall behind. If your weekly savings are sitting in an account paying a low rate, even a modest increase compounds meaningfully over a year. It’s worth checking:
• Whether your current rate is still competitive
• If a linked “bonus rate” account requires conditions (like a minimum deposit) you’re no longer meeting
• Whether a term deposit or high-interest online saver suits your goals better than a everyday account
Look at your borrowing too
While you’re in a reviewing mindset, it’s a good time to check your home loan, car loan or business finance rates against what’s currently available in the market.
Rates and lender policies shift regularly, and a loan that was competitive two or three years ago may no longer be the best fit for your circumstances.
A small habit with a real payoff
None of this needs to take more than an hour. Set a recurring reminder each season to run through your statements, tidy up unused subscriptions, and check your savings and loan rates are still working for you. Over a year, these small reviews can add up to meaningful savings, money that’s better spent on your goals than sitting unnoticed in the wrong account.
This article is general information only and doesn’t take into account your personal circumstances. Speak with a licensed adviser or broker before making financial decisions.