One of the biggest things we see people struggling with at the moment is how to manage their accounts and manage their spending in today's tap and go society.

Here are three steps to follow that will make it easier to manage your accounts.

Step 1

Jump onto moneysmart.gov.au and complete a detailed budget.

Step 2

Set up multiple accounts for your banking.

Account One is for your income or your wages to go into. This account is also where any fixed direct debits or bills come out of.

Account Two is for your weekly allowance. This is for everyday spending, such as groceries or tap and go spending.

By monitoring this account you can track your spending habits and whether or not you need to delay certain purchases until the following week or month.

Step 3

Savings Account

Once account one and two are allocated for, work out how much is left over to put away, maybe for a holiday at the end of the year, or your kids’ education, or any long-term savings plans you have. Set up accounts three and four for those items and make  a weekly transfer based on any money that’s left over.