When living costs change, it’s natural to focus on the here and now. The good news is you can manage rising costs without losing sight of the bigger picture.
A few simple actions can help you put this into practice.
Pause and take stock
When costs rise, it might be tempting to act quickly to ease the pressure. But taking a moment to pause can lead to more considered choices.
Looking beyond short-term pressures can help protect your long-term savings. Taking the time to understand the impact of decisions, like early access to super, can help give your money time to grow.
A review of your situation can help you decide whether changes are really needed.
Focus on what you can control
After you’ve taken a step back, it can help to focus on things within your control. Even minor changes can make a difference over time. Here are some small, manageable steps you can take to help keep you on track.
Review your day-to-day spending and cash flow. Checking your regular expenses and understanding what’s coming in and going out can help you spot small savings, like unused subscriptions, or bills you might be able to reduce or renegotiate.
Build a small buffer if you can. Putting aside a little extra where possible can help cover unexpected costs and reduce financial stress.
Prioritise high-interest debt. Paying down things like credit cards sooner can reduce how much interest you pay over time.
Check what support might be available. Rebates, concessions, or government benefits may be available depending on your situation. For example, if you're eligible, the government co-contribution could add up to $500 to your super.
Stay on top of your super. Checking in on your super can help you stay on track. With the Hostplus mobile app, you can view your balance and see how your investments are performing in one place. It's also an easy way to check that contributions from your employer are coming through as expected.
Combine your super accounts. If you have more than one super account, bringing them together could help reduce fees and make your super easier to manage.
Before consolidating your super, you should check with your existing super fund whether there are any fees or charges that may apply or any loss of benefits, such as insurance cover. If you have insurance cover with another super fund, you may be able to transfer that cover to Hostplus. To find out if you are eligible and to learn more, visit hostplus.com.au/insurance. You may also find it beneficial to obtain advice from a financial adviser.
Keep perspective during market ups and downs
Cost-of-living pressures can happen at the same time as market ups and downs, which can feel unsettling. But super is designed for the long term, and history shows that markets tend to move in cycles.
Staying focused on your long-term goals rather than reacting to short‑term dips can lead to better outcomes over time.
Get support when you need it
You don’t have to figure everything out on your own. Getting the right information or talking through your options with a qualified professional can help you make decisions with confidence.
Hostplus advice options
As a Hostplus member, you can access:
- general advice about your super at no extra cost
- SuperSmart1, our online education and digital advice resource
- comprehensive financial advice if you’d like more personalised support.
These options are designed to support you through different stages of life, whether you’re starting your career, juggling work and family, or planning for retirement.
Other resources
If you’d like extra support outside Hostplus, the following services can also help.
MoneySmart: Independent guidance on budgeting, managing debt, and planning for the future, with free calculators and tools. Visit moneysmart.gov.au
National Debt Helpline: Free, confidential financial counselling for help with bills, debt and financial stress. Call 1800 007 007 or visit ndh.org.au
Mob Strong Debt Helpline: Free and confidential legal advice and financial counselling for Aboriginal and Torres Strait Islander people. Call 1800 808 488 or visit financialrights.org.au
Services Australia – Financial Information Service: Information about managing your money now and how today’s decisions may affect you later. Visit servicesaustralia.gov.au/fis
Balance today with tomorrow
Staying on track as living costs change means taking practical steps today while keeping a longer-term view. And remember, super is a marathon, not a sprint.
We're here to help
You can contact us for support in the following ways:
- online, using our live chat
- over the phone 1300 467 875
- by email
- in person at one of our ServicePlus centres.
If you'd prefer that we call you, please provide your contact details in an email or live chat, along with your preferred time for us to call.
1. Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL 232514 to facilitate the provision of personal financial advice to members of Hostplus, including via the web-based platform SuperSmart. Advice is provided by Hostplus financial planners who are authorised representatives of IFS. Fees may apply. For further information about the cost of personal advice and SuperSmart eligibility criteria visit hostplus.com.au/advice.