When it comes to financial planning, many Australians are just treading water - despite not really knowing how to swim. According data from the Australian Securities and Investments Commission (ASIC), just two-in-five Australians have a short-term financial plan (3-5 years) and barely a quarter have along-term plan (15-20).

If this sounds like you, it’s not all doom and gloom: there are a number of simple things you can do to help you better understand and get on top of your finances. Here are some tips.