According to Mortgage Choice's 2015 Money Survey, 53.6 per cent of Australians indicated that they were "very worried" or "concerned" about their finances - slightly up on this time last year.

While a vast majority of respondents were concerned by their financial situation, the survey shows that most are actually saving more money and paying off debt faster than ever before.

When asked how much debt (excluding a mortgage) they had, 56 per cent of respondents said they had less than $10,000 in debt, with 43.2 per cent of those saying their debt was less than $5000.

Furthermore, one in every three respondents indicated that they had more than $20,000 in savings - up from the previous year.

Finally, a majority of Australians said they like to keep a close eye on their day to day spending habits - 60.8 per cent admitted they check their bank accounts at least once a week - up from 55.9 per cent in 2014.

Of course, the fact that so many Australians are worried about their financial situation cannot be underestimated.

For those who worry about their financial situation on a regular basis, there are a few easy tricks they can implement to better manage their finances, save more money and pay their debts faster.

Here are three top tips to better manage finances:

■ Consolidate: If you have quite a bit of credit card debt or a few personal loans with high interest rates, you might consider consolidating this debt into your home loan. Consolidating your existing debt into your home loan can help you to reduce the interest you pay on each of your debts - as the interest rate on a home loan is generally a lot lower than the interest charged on credit cards.

■ Use a high-interest savings account: By investing your money into a high interest savings account you could be regularly earning interest on your savings. These accounts often cannot be accessed via an ATM or EFTPOS, which should also help to reduce any impulse spending.

■ Transfer balances: If you have a sound credit history but a few credit cards with high interest rates, you may be able to negotiate with your financial institution to have your credit card debt transferred onto another card with a lower interest rate. Sometimes you can even get a low introductory interest rate and use this period to make extra payments on your card.

Richard Windeyer is a mortgage broker with Mortgage Choice. His advice is general in nature and readers should seek their own professional advice before making any financial decisions. Phone Richard Windeyer on 1800 01 LOAN.