Your 2026 Financial Glow-Up: A Guide to Actually Getting Your Finances Together

Look, between cramming for exams, surviving rotations, and trying to have some kind of life, thinking about finances probably ranks somewhere below doing laundry on your priority list. When you’re living on a student budget or that first intern paycheck, retirement feels like something from another universe.

But here’s the reality: the money habits you build right now, even when you’re not earning that much yet, can seriously change your future. We’re not talking about never getting takeout again or becoming some finance nerd. Just some smart moves that actually make a difference.

New year, fresh start. Whether you just started getting paid properly or you’re still in the HECS debt trenches, 2026 could be when you finally get your money sorted.

Here’s how to do it without losing your mind.

1. Actually Make a Financial Plan

A financial plan is basically your GPS for life. Want to buy a place eventually? Travel between rotations? Not stress about money every week? You need a plan.

Here’s how to start:

• Write down your goals. Short-term (this year), medium-term (next few years), long-term (way down the track). Be real about it, “save $20k for a house deposit” is way better than just “save money.”

• Think about the big stuff. Planning to get married? Do a fellowship? Have kids? These things cost actual money, so factor them in now rather than panicking later.

• Pick your battles. You can’t do everything at once (as if your schedule wasn’t already packed). Figure out what matters most right now.

• Talk to someone who gets it. A financial adviser who actually understands medical careers can help you figure this out. DPM’s advisers work with doctors at every stage – they know the deal.

2. Build Your Emergency Fund

Life loves throwing curveballs-car dies, laptop breaks, surprise bill arrives. An emergency fund is basically your financial safety net for when things go sideways.

The goal: 3-6 months of living expenses in a separate account you can actually access. Yeah, it sounds like heaps. But start small-even $50 a fortnight adds up. It’s about building the habit.

This means when your car breaks down, you’re not maxing out credit cards or begging your parents for money. Worth it.

3. Get Real About Your Budget

Budgeting isn’t about becoming boring-it’s about knowing where your money’s going so you can actually spend on stuff that matters to you. Super relevant as your income starts to grow.

What to do:

• Track everything for a month. Use an app, whatever. You’ll probably be shocked at how much goes to random subscriptions you forgot about or those “just this once” UberEats orders.

• Find the money leaks. Look for spots where you can cut back without actually hating your life.

• Don’t fall into the trap. First proper paycheck hits and suddenly you’re upgrading everything? Nah. Better move is putting that extra cash toward your actual goals-savings, investments, smashing debt-not just spending more because you can.

Okay, retirement is literally decades away. But super is actually kind of magic when it comes to building wealth. Money you put in during your 20s could genuinely be worth 10x by the time you retire. That’s compound interest doing the heavy lifting.

What to do:

• Check it’s actually working. Make sure your employer’s paying in what they should, and you’re not losing cash to random fees or duplicate accounts you forgot about.

• Look at your investment mix. Most super funds let you choose how risky you want to go. When you’re young, you can usually handle more risk = potentially better returns down the track.

• Merge multiple accounts. Got super accounts scattered across different casual jobs? You’re paying fees on all of them. Roll them into one decent fund.

Even as a student or intern, sorting this now makes a massive difference later.

Insurance is boring as hell until you actually need it. And as a medical professional-even while you’re training-there’s some specific stuff you need to think about.

What matters:

• Check what your super includes. A lot of super funds already have basic life and disability cover built in. Worth knowing what you’ve got.

• Think about income protection. If you get sick or injured and can’t work, how are you paying rent? This type of insurance basically covers your income while you recover.

• Medical indemnity is non-negotiable. Once you start treating patients, you legally need this. Get it sorted from day one of internship.

• Talk to someone who knows medical careers. Insurance needs are super individual. A DPM insurance consultant can help you figure out what actually makes sense without going overboard.

Once you’ve got some emergency savings and aren’t drowning in high-interest debt, investing is how you actually build wealth. The trick? Start early and keep at it, even with small amounts.

How to start:

• Spread it around. Don’t put everything in one place. Mix of shares, property, bonds-basically don’t bet it all on one horse.

• Invest in what you care about. If climate change or social issues matter to you, there are heaps of ethical funds that perform just as well as regular ones.

• Get proper advice. Investing can get complicated fast. A wealth consultant can help set up a strategy that matches your actual situation and risk tolerance.

Not all debt is bad. HECS is basically the cheapest loan you’ll ever get. But high-interest debt-credit cards, buy now pay later-will absolutely wreck your progress.

Game plan:

• Kill the expensive debt first. If you’re paying 20% interest on a credit card while your savings earn like 2%, you’re literally losing money. Smash that expensive debt ASAP.

• Look into refinancing. Sometimes there are way better loan deals out there. Could save you thousands. Worth chatting to a lending consultant about it.

• HECS can wait. It’s indexed to inflation, not actually charging interest, so it’s not urgent. But if you’ve got spare cash, chipping away at it helps.

• Consider speaking to a DPM Lending Consultant to explore your options and if there’s a more appropriate product or facility available.

Your life’s going to change-especially in these early career years. What made sense in January might be totally different by July.

Set a reminder to look at your goals around mid-year. Not to beat yourself up, just to see if things need adjusting. Got a new rotation? Life threw a curveball? Just tweak the plan and keep going.

Time to Actually Do Something

Look, financial planning isn’t sexy. But every doctor who’s genuinely sorted financially? They didn’t wait until they were consultants. They started early, even when they were broke students or struggling interns.

You don’t need to be perfect. Just start somewhere.

DPM works specifically with medical professionals at every stage-from students to consultants. We actually understand the medical career path and what you’re dealing with.

Just starting out as an intern? Check out our Intern Package designed specifically for doctors in training-covering everything from tax to insurance to wealth planning.

Or book a free chat to figure out what makes sense for your situation.

Future you will be seriously grateful you did this now.

At DPM, we have a specialised team of expert private wealth consultants working to financially empower medical doctors nationwide. Click here to book a free, no-obligation appointment to discuss more about how we can assist you in achieving your financial goals.

Disclaimer: * The information contained in this site is general and is not intended to serve as advice as your personal circumstances have not been considered. DPM Financial Services Group recommends you obtain personal advice concerning specific matters before making a decision.