On the savings front, sticking with the same service provider could mean paying more than necessary. For example, a report by the Australian Energy Regulator found it’s possible to save as much as $1,400 by making the move to a cheaper supplier. With that sort of cash up for grabs, it can pay to visit the Energy Made Easy website to compare offers.

Taking positive action also counts towards achieving financial security. An easy step we can all take is to set up a regular transfer from an everyday account to a savings account. A colleague of mine did this a bit over a year ago, putting savings of $50 per week on autopilot. In a busy life she pretty much forgot about it. Last week she checked the balance and found her savings had grown to over $3000. In another two years she could have more than $8000 – and that’s allowing for today’s low interest rates.

So, imagine the possible benefits of regularly adding to investments backed by growth assets. Taking an active approach to your finances is important, though there can be times when it pays to sit tight. Research group SuperRatings found the recent 3.3 per cent drop in local shares would have resulted in a $2,000 loss on super savings of $100,000. That’s hardly cause for panic: history tells us quality shares will recoup their value.

Take a few extra steps to make your money go further – you’ll come out the winner in the long run.

Paul Clitheroe is a founding director of financial planning firm ipac, Chairman of the Australian Government Financial Literacy Board and chief commentator for Money Magazine.