6 steps to a wealthy New Year

It’s that time of year again – a brand New Year and maybe your resolutions and already looking shaky.......

So it’s also an ideal time to take stock of your finances and plan to make 2021 your most successful year ever.

To help you get started, here are six key steps to help you improve your finances in the New Year.

Step 1: Track your spending

Before you can begin to take control of your finances, you need a clear picture of where your money is being spent. Through tracking your expenses, you can learn more about your purchasing patterns and cut down on any wasteful spending. And don’t worry if budgeting sounds time consuming, there are a range of digital applications that make tracking your spending easy.

Our clients can track their spending with the assistance of the these tools and calculators

Step 2: Consolidate your debt

Planning on giving your credit card a workout over the holidays? Still trying to pay off that trip or personal loan? Instead of paying off multiple debts that are accruing interest individually, often at vastly different rates, it may be a good idea to bring them all together with a debt consolidation loan. By combining all of your debt in this way, you may be able to cut your interest rate significantly and pay your debt off sooner.

See how much you could potentially save by speaking with our Mortgage Adviser .

Step 3: Consolidate your insurances

If you and your family hold a few different types of insurance, you may be able to make savings by consolidating those insurances into the one policy – this could help reduce fees.

For more practical solutions on how you can protect yourself and your family, speak to one of our financial adviser or contact us.

Step 4: Streamline your super

If you’ve changed jobs several times in your life, you may be one of over six million Australians with multiple super accounts*. By bringing your super together in one place, you can cut down on fees and put the power of compound interest to work.

We can help you:

Step 5: Protect your income

You never know when life is going to change around you; that's why it's so important to protect the wealth you're building. Insuring your health is always important, but it's critical to insure your income at the same time — so you don't compromise your lifestyle if you need some time off work to recover from illness or accident.

Find out more by clicking here .

Step 6: Consult with us

If you would appreciate some expert assistance with your finances, the new year is an ideal time to contact us.

Our advisers can help you apply a range of smart strategies to your money, ensuring you receive all of the tax benefits and government assistance you’re entitled to while avoiding expensive mistakes.
Professional face-to-face advice from a financial adviser can be especially beneficial as you approach retirement, helping you maximise your income so you can enjoy your later years in comfort.

Speak to one of our financial adviser today, call us onor online by clicking here.

We'd be happy to help.

Important information
*Australian Tax Office, Super accounts data overview, June 2015