5 ways to reset your finances

New Year’s resolutions often revolve around fitness – going to the gym or taking a daily walk. They’re worthy goals but what if, this time around, you committed to also becoming financially fit? Think boosting your savings, paying off debt or starting to invest.

The beginning of a new year is the perfect time to hit refresh on your finances, as you can take advantage of a phenomenon known as the “fresh-start effect”. Turns out, picking a point in time to commit to making a change (like 1 January) can power up your motivation to see your goals through.

Rest assured, this isn’t about creating complicated spreadsheets or giving up all the things. Instead, it’s like doing a clean-out of your finances and introducing a new playlist, mindset and money routine. Ready to begin? Here are five things you can do to make a financial fresh start.

1. Review your finances

Life is busy so it can be hard to find a moment to focus on your finances. But scheduling in time at the start of the year can lay a firm foundation for the months ahead. Ask yourself: am I using the best credit card for me? Am I using all the tools in my banking app (like Money Plan in the CommBank app)?

Money coach Karen Eley also suggests an audit of your cash flow. “Review your contracts, such as phone, internet and energy bills,” she says. “This will help you spot money leaks. Cancel unused subscriptions to streaming services and then redirect that money into savings.”

If it feels daunting, start by tracking your money for just one week and you’ll quickly see where your cash is really going. Even a short “money detox” can reveal surprising spending habits and make your next step more intentional.

2. Set small financial goals

It’s great to have big money goals but the key to achieving them is to start small. Bite-sized goals are quicker and easier to accomplish and will give you the confidence and motivation to keep going. CommBank’s Financial Fitness program refers to this habit as “chunking”. The idea is that for every goal you have, be it sorting out your super or learning to invest, start with the teeniest step you can take. Instead of promising to save $20,000, try putting away $50 a week. “Small wins will compound and reinforce your identity as someone who saves,” adds Eley.

To make it more rewarding, try visualising your progress. Use Goal Tracker in the CommBank app and watch your progress dial fill as you hit weekly goals. Behavioural experts say that seeing progress triggers dopamine, giving you a natural motivation boost.

3. Automate your money

Sometimes it’s best to take ourselves out of the equation, especially if we struggle with spending. “I’m big on automation,” says Catherine Belford, director of Joyful Money. “Often, our money is going towards things we don’t really pay attention to – especially now that we just tap our card.” The idea is to set up different “buckets” (or categories in your bank account).

Another option is to have one account for everyday spending then set up another savings account for goals like travel or a home deposit (you can set these up and personalise the account names via Money Plan in the CommBank app). “You can then go one step further and not think about putting money aside by setting up recurring transfers,” says Belford.

You can even level it up by using tools like Smart Savings in the CommBank app which automatically finds potential spare cash each pay cycle by looking at your income, bills, spending and transfers. Micro-automations like this help you set-and-forget while quietly working for you in the background.

“Automation works because you don’t have to think about putting money aside.” - Catherine Belford

4. Build daily money habits

If you want a new money behaviour to stick, start by building it into the rhythm of your day. Think of it as creating small money moments – short bursts of learning or action that take just a few minutes but keep your goals top of mind. Building financial habits doesn’t have to mean big time commitments. Even a few minutes of focus each day can shift your mindset.

Try adding microlearning to your day: a quick check of your budget while you wait for the kettle to boil or reading a one-minute tip in your banking app before bed. Follow a finance creator, listen to a short podcast on your commute or set a weekly reminder to review spending categories.

These moments create familiarity and over time they train your brain to see money as something you can manage easily.

5. Get support with your finances

Money goals are easier when you don’t go it alone. Whether it’s friends, family or colleagues, having people around you who are also trying to improve their finances can make a huge difference. “You can share with a friend or family member or work colleague and then keep them updated on how you’re progressing,” says Eley.

But this isn’t just about accountability... it’s about connection. Surround yourself with people who talk about money in positive, practical ways. Start a group chat where you swap savings hacks, compare deals or celebrate small wins. You could even create a monthly money meet-up, where everyone checks in on their goals over coffee or brunch.

If you’re competitive, turn it into a game – who can find the best discount, build their emergency fund fastest or finally switch their super? It’s not about comparing dollar amounts but a little friendly rivalry can make a big difference.

You can find inspiration online, too. Follow money creators who align with your values and make you feel empowered, not judged. The more you normalise these conversations, the more confident you’ll become in making decisions that work for you.

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Published: 14 January 2026