If you didn’t set any money goals earlier in the year – or if you have strayed off track – this is the perfect time to get organised, write a checklist and stick with it!
1. Set some goals- once you know what you’re aiming for you can set and achieve your goals.
2. Understand where your money goes- it’s a good idea to start tracking your spending. There are lots of good tools and apps to do this on the AMP website- amp.com.au
3. Set a budget- get serious about managing your budget.
4. Get your super sorted- find out if you have any lost super and how you can consolidate it to avoid paying multiple fees.
5. Consolidate your debt- now might be the time to get rid of extra credit cards and opt for a single card with a lower interest rate and less fees.
If you have a home loan, consider increasing your loan amount and using the extra money to pay off your other debts. If you don’t have a home loan, consider getting a personal loan at a lower interest rate to help you pay off your debts sooner.
Or learn about how to pay off your debts altogether so you can become debt-free.
6. See where you can make savings on big ticket items- do your research on products and prices, shop around and don’t be afraid to bargain. Make sure you get the best rates available on your frequent bills such as insurance and energy.
7. Commit to better money habits- resolve to curb any costly bad habits that can drain your finances, such as paying for things that you can do yourself.
If you’d like help with working out your financial goals, you can contact Alison Kable and Associates at 254 Anstruther St., Echuca or by ringing 54 822239.
Alison Kable is a Certified Financial Planner and Authorised Representative of AMP Financial Planning Pty Ltd, AFS Licence no. 232706. This article contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances.