As with every New Year, people’s thoughts generally turn to thinking about getting fit – not just in body but also in with their finances and 2012 is certainly no exception, especially after the struggles of recent years.
So we thought we’d kick off 2012 in helping you make some real changes to the way you save and invest to ensure you get through this year and beyond with ease.
Our first piece of advice to you would be to work out your priorities. You need to set out your money goals for this year. After all, it’s difficult to determine what to aim for if you haven’t figured out what your target is.
It can be downright depressing to work this out the normal way; that is to figure out what your income is and balance it against your bills and debts. It’s far more exciting and more of a challenge to figure out what you really want this year – a new car, boat, caravan etc and figure out ways in which you can afford that along with the regular payments we normally face each month. After all, when you really, really want something, you’ll have the motivation to find out how to achieve it rather than languish in the ‘how could I possibly get that?’ mindset.
Alternatively, rather than going for an immediate physical item, you may just want to get rid of some of your mortgage debt by continuing to pay the higher amount as interest rates drop or increasing your superannuation payments to make your retirement a little bit easier.
Next you want to sit down and work out your household budget for the year. Make sure to take into account any increasing utility costs and those sneaky extras like magazine subscriptions or kids’ birthday parties. It would be worthwhile to check your utilities provider and telecom company to see whether they are willing to reduce their costs for sticking with them; or look around for someone new.
Are there any benefits you may be entitled to? Once you hit the age of 60 or suddenly find yourself as a single parent, you could be surprised at what you may be able to claim. If you have investments, make sure they are still working for you and you haven’t got too many eggs thrown in the one basket.
Also make sure that your tax return is correct and filed on time – there’s no point in throwing more money at the tax man because you are facing penalties.
Finally, always ensure that your bills are filed carefully so that you can action them as they arrive; this will reduce the instances of late payment fees or finding an unexpected bill crops up at a time when money is a little tight. Those bigger bills always seem to come around at the same time, so it would be worth while setting up an account whereby you can put a little aside each month to cover them as they land in the letterbox.
Unlike the big banks, at Finlease we take the time to visit you, understand your situation and assist you in selecting the right financing solution. If you are not satisfied with our solution, simply walk away with no cost. We are delighted to seek approvals as over 85% of them are taken up by clients!
Don’t just take our word for it though, visit product review athttp://www.productreview.com.au/p/finlease.html and see what our clients have to say about us!
To speak to one of our Financing experts call 1800 358 658 now!