Whether you’ve decided it’s time to increase your savings, pay off those credit card debts or finally start your investing journey, it all starts with the same step. At the start of every year…. review your finances! You can start kicking financial goals from the start of a brand new year and put yourself in the best place to be making better financial decisions.

Where do you start?

By reviewing your current expenses you can see where there are savings to be made. Here are some expenses you can start with:

• Home loan: Your home loan can sometimes become a ‘set it and forget it’ situation. But you should be reviewing your loan every couple of years. If your loan isn’t reviewed you could be missing out on major savings! Refinancing your loan can be a great way to secure a more favourable rate and make the most out of your hard-earned money. For your peace of mind (and savings account) make sure you include a loan review on your New Years’ to-do list. If this seems like a daunting task, contact our friendly team who would love to help you get the most out of your home loan!
• Home, car, and health insurance: Just like your home loan reviewing your insurance policies could produce some amazing rewards for your efforts. Make reviewing your insurance a New Years’ routine and get the most from your money.
• Credit cards and personal loans: You may be surprised how much you can save when you start comparing different products. If you have plans to pay off your credit card, there might be an opportunity to switch to a lower interest rate, or to consolidate your existing debt if you have multiple loans. Who doesn’t want to pay their debts off faster and at a lower rate!
• Phone accounts: We know switching phone providers or even contracts can be daunting. The effort could give your savings the boost you need in the long term. Add your phone accounts to the review list this year!
• Superannuation: The final item for your New Years’ review list is your superannuation fund. Go on a hunt to find any lost Super and roll all your accounts into one to save on fees. It might not be costing you directly right now but it will save those costs affecting you in the future.

Achieve your financial goals!

If beginning your investing journey is your goal for this year we are excited for you to start off on the right foot! When you’re reviewing your finances you might be surprised to learn your journey can start sooner than you think. An important part of maintaining successful investments is building an investing team you can rely on. If you would like to know who else you might want on your team contact us below and read our blog for all the best information to set yourself up for success!

Finally, a great way to start on the right financial foot and achieve your goals is to record your progress. Whether you write those goals down somewhere or use an app. Tracking your progress will help you maintain those goals. If you find your savings and start reaching your goals don’t forget to celebrate!

If would like to chat with someone about your finances, contact us at Rise High Financial Solutions. We can help you get the advice you need to help you make your goals a reality this year!