How to kick start your money mojo in 2019

Here are some not too preachy ways to find your money mojo in 2019, minus the obvious cliches.

January is upon us and so are the myriad of ‘how to keep your new year resolution’ articles, often slightly preachy, annoying and unrealistic.

Finding your money mojo isn’t about being able to buy lots of things. It’s about having more freedom and security over your future. Money in the bank and a diversified investment portfolio is knowing you have the freedom to do what you want to do.

Here are some not too preachy ways to find your money mojo in 2019, minus the obvious cliches about reducing your spend on coffee or to go grocery shopping on a full stomach.

Ask for a raise (and invest it).

When was the last time you asked for a pay raise? 2019 should be the year you put your negotiating skills to work and ask for a salary increase.

If you have skills that are in demand you’re in a strong position to negotiate for higher pay. Take the time to learn what your position is worth and remember nobody is ever going to offer you more than you ask for.

When you get the pay rise, don’t change your spending and instead put your extra earnings to work in a portfolio of low cost ETFs (here are some examples).

By saving rather than spending you won’t notice any difference in your immediate lifestyle but every $1,000 you invest will set you up for much more freedom in the future.

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Cut your investment fees.

Superannuation and investment fees are like the frog being cooked alive from cold water. You don’t realise there’s a problem until you’re in boiling water and it’s too late.

Saving money on investment fees is one of the best ways to save money over your lifetime and you can make the biggest difference today.

Our annual Stockspot Fat Cat Funds Report finds that if you’re in a Fat Cat Fund you could stand to lose over $250,000 in super fees (more if you haven’t consolidated your super.)

By switching to Fit Cat Fund charging 0.5%, an Australian with a $100,000 super balance could save over $1,500 in super fees in 2019.

Review your savings interest rate

Interests rates in Australia are low and falling. These days you’re lucky to earn 1% on a regular bank account.

Banks rely on our laziness to not shop around are sitting on truckloads of cash that pays almost no interest. Meanwhile they squeeze people with mortgages by increasing borrowing rates so they can earn a higher margin.

Your bank may have lured you in with an attractive headline savings rate but then enforce a litany of rules around minimum and maximum deposits, frequency of transactions and lock in periods. If you don’t keep up your interest rate can drop.

It’s one of the reasons we launched Stockspot Savings, to give clients a better way to save money with a competitive interest rate of over 2% without all the tiresome terms and conditions.


If you’re serious about sorting your money and investing in 2019 spend time reading some of the excellent material available about money and finance. First port-of-call would be perusing the many Stockspot blogs:

If you (or someone you know) needs a little extra help it’s also worth checking out Scott Pape’s (aka the Barefoot Investor) recent book The Barefoot Investor for Families.

Pape manages to turn personal finance into a lovely and practical read. It’s aimed specifically at teaching kids about finance over the course of their life-time. It’s great for kids but also has some gems of wisdom for all adults.

Another of our favourites is The Little Book of Common Sense Investing.

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Communications & PR

Lauren is Stockspot's head of PR and communications. She helps us minimise the jargon and maximise the info that matters most to clients. She believes investing and creating financial security shouldn't be scary, difficult or only for those with a finance degree.

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