ANZ has launched a free, online check-in to help Australians understand and improve their financial wellbeing during the COVID-19 pandemic and beyond.
ANZ General Manager, Savings and Deposits, Shannon Peachey says, “We know finances are a leading cause of stress in many households and now is a particularly challenging time for many people.
“ANZ is committed to helping Australians improve their financial wellbeing by providing a four step online check-in for free, which includes practical tips on budgeting, spending and saving.”
ANZ Financial Wellbeing Ambassador, former netballer and successful businesswoman Bianca Chatfield felt the pressure of the pandemic and the flow-on effect to her life goals, but has taken action to regain control.
“The world that I work in either involves sport, or working with teams of people so when COVID-19 hit I was really worried about my income and my future. Mentally, I’m pretty strong but I was lost for the first couple of weeks. I took the time to review my spending habits and existing financial commitments by doing the ANZ Financial Wellbeing Check-In, which renewed my focus on my savings goals and helped me make a plan to get there despite the current situation.”
The new ANZ Financial Wellbeing Check-In provides practical tips and tools, in four simple steps:
1. Plan your budget; It's about figuring out your ‘needs’ and ‘wants’ and bucketing your income to make sure you cover the cost of essentials first, leave some for the little luxuries you just can’t go without, and ensure you’re putting some income into savings.
2. Reduce expenses; Look for ways to reduce, reuse or renegotiate your essential
spending. Examine your household expenses like utility bills, phone and internet
contracts to see where you can make a switch to reduce cost, and consider which
memberships and subscriptions you actually need.
3. Spend carefully; It all adds up, so pay close attention to where you’re spending.
Consider supermarket shopping hacks, discounts and coupons and learn to spend
‘mindfully’ to make your dollar go further.
4. Save for a rainy day; If your income is still relatively stable, it might be time to
prepare enough of a financial buffer for a rainy day.
Whether it’s practical support in taking back control of personal finances, managing a business through the crisis or taking a closer look at your existing home loan, the ANZ Financial Wellbeing Check-In is here to help Australians with whatever’s next for them.
Visit the financial wellbeing check-in at anz.com/financialwellbeing.