Starting the New Financial Year Strong (even with a shoebox of receipts)

New financial year? It’s the perfect time to reset, revisit goals, and take a breath before the year races away.

Key points:

Accountant Tegan Streeter from Fenwick Collective joined Jordy on Salt 106.5 to share simple, practical ways to start strong — without the overwhelm.

“Some people get overwhelmed and stressed, and I can totally appreciate that,” Tegan said. “But it also is a bit of an exciting time… a refund, no matter how little or big, feels a bit like free money!”

Tips to get organised early

Tegan says there are a few key things to check off early in July.

“First and foremost, collect some receipts — whether you use the ATO’s deductions app, a spreadsheet, or even a shoebox.”

Though sometimes overwhelming, Tegan says EOFY can also be “a bit of an exciting time… a refund, no matter how little or big, feels a bit like free money!”

She even shared one client’s creative approach:

“He created a fake Gmail account just to store his receipts — [email protected]. Honestly, whatever works!”

Another important thing to know is your taxable income — because that number affects more than just your tax bracket.

“It impacts things like HECS repayments, private health cover, paid parental leave, and childcare rebates,” Tegan explained. “Especially for high income earners — it’s worth being across it.”

Tegan sees July as a second chance to “look at what’s coming into your bank account and how you want to allocate it.”

Use July as a mid-year checkpoint

For many of us, January’s resolutions are long forgotten — but Tegan sees July as a second chance.

“It’s a really good checkpoint to look at what’s coming into your bank account and how you want to allocate it — whether that’s bills, renovations, holidays, kids, or paying down debt.”

She recommends revisiting your utilities or insurance quotes too:

“I love a bargain,” she laughed. “So make sure your budget still lines up with your goals.”

Listen to the full conversation in the player above.

What not to stress about (yet)

With lots of talk around HECS changes, Tegan reminded us not to panic.

“You may be wondering where the 20% reduction is. It hasn’t happened yet. It’s going through all the official processes, but it’s not law yet — so just keep it in mind and don’t stress.”

Whether you’re budgeting with spreadsheets or a shoebox, Tegan’s encouragement is simple:

“Baby steps.”

Let this be the year you take a calmer, more confident approach to your finances — and maybe even enjoy that coffee or two from your refund.

Listen to the full conversation in the player above.

Feature image: CanvaPro