How to get control of your day-to-day finances

Being in control of your day-to-day finances is the first step towards feeling good about money.

The first step to feeling like you’ve got a sense of control over your money is to work out what your current situation is. Ask yourself; how much money do I have coming in every time I get paid? And how much do I have left over by the time it’s my next pay day? What am I aiming for, and what’s my level of savings?


If you’re spending more than you earn at the moment, understanding where your money’s going could help you figure out ways to lower your costs…and get closer to reaching your goals.

Track your spending

If you’re banking online, you should be able to track your spending habits with tools like the Activity tab in the BNZ app. This sorts your spending history into categories like groceries, eating out, and shopping. It might surprise you to see exactly where your money’s going. 

Set a budget that works

From there, work out how much you’d ideally like to have left over at the end of each week, month, or fortnight and set yourself some targets, like saving money on groceries by avoiding impulse purchases (shopping online is a good way to do this). Just make sure what you’re aiming for is realistic. Having a clear idea of what you want to achieve with your extra money will help you stay on track. 

It’s a good idea to review your budget regularly to make sure it fits in with what your goals, and your lifestyle. Make tweaks where you need to – just try not to lose sight of what you’re aiming for in the long-run. 

Build an emergency fund 

Of course, things aren’t always smooth sailing. Building an emergency fund will help you to stay out of debt if any unexpected costs come up. Set up a separate account and have an automatic payment go into it each pay day. Chances are you won't even miss what you put in.

Plan to get rid of your debt

If you’ve got debt, you’ll feel more in control if you’ve got a plan to get rid of it. Here are few things you could do to help get out of debt.

• Only buy what you can afford and cut down spending on things like coffees, lunches, and clothing.

• Put off buying high-cost items.

• Start paying off your current debts, with either the highest interest-bearing one, or smallest balance first.

• Think about a consolidation loan to roll all outstanding debts into one loan with one interest rate.

• Stick to your plan – motivate yourself by thinking about a debt-free future or having the money to achieve a significant life goal, like a special family holiday, or buying a house. 

It’s not always easy managing money. But taking these steps will help you feel more in control of where you are now, and where you’re heading.