If you haven’t Scott Pape’d your life yet, the balance of your monthly expenses probably draws a blank. In fact, for 86 per cent of men and women this is the case. A Ubank survey found not only that most people don’t know what they’re spending, but that 59 per cent were either stressed or losing sleep over their financial situation. Researchers from Deakin University have even found financial insecurity produces feelings similar to that of physical torture.

Money management is often an afterthought, then there’s the pay gap and low superannuation balances to consider. On top of this, women are still largely discouraged from comparing wages to their colleagues, or having discussions around wealth at all. And it’s clearly not helping. Forty-three per cent of women don’t feel in control of their finances and 61 per cent believe they have insufficient savings. On the investment front, just 36 per cent of women are happy with their net worth and 37 per cent with their investment portfolio, according to Ellevest. So what of our own habits? There’s enormous gains to be made in having a frank financial conversation – with yourself, for starters. Anne Graham, managing director at Story Wealth Management, recalls a client clueless as to why her retirement fund was eroding – until she pointed out the weekly case of Champagne she bought, at an annual cost of $15,000.