How can this guide help you?
The ADF Financial Services Consumer Centre and the Australian Securities and Investments Commission (ASIC) want you to be well-informed and confident about getting financial advice.
By familiarising yourself with this website, you’ll be starting off on the right foot with tips about:
deciding if you need personal advice
finding the right adviser
working effectively with your adviser
getting advice that suits you.
You may find that not all the ideas in this website may apply to your particular circumstances.
How can this guide help you?
Should you buy a vehicle?
All members of the ADF work hard for their money,and for the privilege of being able to spend money on themselves and their families. When you find that you have some extra cash, it is important to think carefully about the options available to you, including paying off debt, the purchase of a new car, contributing to superannuation, investing in real estate or buying shares.
Should you choose to buy a car, here is some important information that we offer to you in conjunction with the Australian Securities and Investments Commission.
Use your money more wisely.
Save for what you really want.
Manage your loans, insurance, super and retirement saving.
The ADF Financial Services Consumer Centre and the Australian Securities and Investments Commission (ASIC) want you to be well informed and confident about financial decisions. This website can start you off on the right foot with general tips and explanations. ASIC’s ideas may not apply to your particular circumstances. If you want personal financial advice, you may need to see a licensed financial adviser.
Key tips for managing your money
Decide what you really want, and focus on your most important goals.
Start saving now: you can start small and increase your savings gradually (they’ll grow with interest, too).
Always check the facts: ask questions and get professional advice. If you aren’t comfortable or don’t understand, don’t go ahead.
Throughout this website we have used tables to work out budgets and so on. Copy them and add your own details to see how our suggestions might work for you.
By taking charge of your money, whether you have a little or a lot, you will ease money stress and feel more secure and in control.
Track your spending
Where is your cash going each day? Tracking your spending helps you understand your daily money habits. See spending for tips on how to do this.
Create a budget
How much money is coming in and going out each week, fortnight or month? See below for how you can use a budget to sort out your money priorities and take control of your spending and saving.
If you haven’t stopped and thought about how you keep your private information secure, chances are you could be leaving it wide open for scammers to steal.
Hacking, phishing and identity theft scams accounted for more than a quarter of the 91,000 scams contacts reported to the Australian Competition and Consumer Commission in 2014.
When scammers get your details, they can use them for all sorts of identity crime such as making unauthorised purchases on your credit card, or using your identity to open accounts such as banking, telephone or energy services, take out loans or carry out other illegal business under your name.
Having your identity stolen can be both financially and emotionally devastating. It can take months to reclaim your identity, and the impact of having it stolen can last for years. The good news is there are ways to minimise the risk of identity theft.
Keep your personal details secure: Your postal mail and your online presence are the first place a scammer will look to piece together your details. Lock your mailbox, and shred your bills and other important documents before throwing out. Be careful sharing information about yourself online, including social media, blogs and other online forums.
Think twice about what you say and do in an online environment: While there are times when your personal details are required for legitimate reasons, such as signing up to a new service or buying something, always check that the person or organisation is who they say they are. Stop and think before filling in surveys, entering competitions, clicking on links or attachments, or even ‘befriending’, ‘liking’ or ‘sharing’ something.
Keep your mobile devices and computers secure: These are a treasure trove of personal information for scammers. Don’t leave yourself vulnerable to a scammer – always use password protection, don’t share access with others (including remotely), update security software and back up content. Protect your Wi-Fi network with a password and avoid using public computers or Wi-Fi hotspots to access online banking or provide personal information.
Choose your passwords carefully: Passwords are often the only barrier between scammers and your valuable information. Set and use strong passwords which are difficult to guess, and change them regularly. A strong password should include a mix of upper and lower case letters, numbers and symbols. Don’t use the same password for every account/profile, and don’t share your passwords with anyone.
Beware of any request for your details or money: Scammers will try to trick you into handing over your data by using the names of well-known companies or government departments. If you think it’s a scam, DON’T RESPOND. Use the phone book or an online search to check the organisation’s contact details. NEVER use the contact details provided in the original request.
Get a copy of your credit report: Your credit report contains information on your credit history. You can get a free copy of your report every year to check that no-one is using your name to borrow money or run up debts. As detailed in the ASIC Chairman’s article above find out how to get your free credit report on ASIC’s MoneySmart website. https://www.moneysmart.gov.au/borrowing-and-credit/borrowing-basics/credit-reports#Get
If you think your banking details have been compromised, you should contact your bank or credit union immediately. If you think your personal information has been stolen, contact iDcare – www.idcare.org or call 1300 IDCARE (432273) – a free government industry service which works with you to develop specific response plans to your situation to reduce risk and impact.
Get smarter with your data video
Delia Rickard Deputy Chair Australian Competition and Consumer Commision