09 Jan

How to start 2017 on the right financial foot

Was your New Year’s resolution a financial one? Did you decide it’s time to save more money, pay off your credit card or start investing? Whether it was your resolution or not, reviewing your finances at the start of each year is a great way to kick off good financial habits and focus on making better financial decisions for the year ahead.

A great place to start is by reviewing all your current expenses and seeing whether there are any savings to be made. These expenses may include;

• Home loan

• Home, car and health insurance

• Credit cards or any other personal loans

• Phone accounts

You may be surprised how much you can save when you start shopping around and comparing different products. If you are planning on paying off your credit card, you may be able to switch to a card with a lower interest rate which will help you pay it off sooner.

Another great way to save money is to review your Superannuation. Find any lost Super and roll multiple accounts into one to save on fees. It may not be directly costing you money but not taking control of your Super now could end up costing you a lot when you come to retirement age.

If investing is your financial goal this year, start now. Seek advice from a professional so you know how long it is likely to take and how much money you need to save. You may be surprised to learn you already have enough money or you may have the equity in your existing home to fund an investment. By speaking to a Mortgage Broker who specialises in investment loans you can ensure you get the advice you need to start investing sooner.

A great way to stay on track with your financial goals is to record your progress. There are many Apps available now that help you keep track of your finances or you can simply write a list and tick it off as you go. Telling family and friends about your goal or putting on social media is also a great way to keep you motivated and heading in the right direction.

By being disciplined in the first couple of months it makes it easier to stick to your resolution throughout the whole year. If would like to chat to someone about your finances, contact the team at Rise High Financial Solutions and we can help you get the advice you need to help you make your goals reality in 2017.

Last modified on Monday, 16 January 2017 09:36

Marissa
Schulze

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JAMES
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