It’s Important to know where your money is going
Irrespective of your income and expenses, having some form of a budget and debt management strategies makes it easier for you to make conscious decisions about how to allocate your money. A budget is a useful tool to help you manage your income and expenses, giving you the confidence to make decisions. ASIC’s MoneySmart website has a Budget Planner, which can help give you an idea of where your money is going.
Making an appointment with a financial adviser to review your budget can open up opportunities you might not have realised were there, without necessarily making huge changes to your lifestyle. You might be surprised to discover extra ways to make your money work more effectively for you, helping you reach your goals sooner.
Questions to ask yourself
- Are you making more than the minimum repayments on your loans?
- Will you be in debt for longer than you’d like to?
- Do you have a thorough understanding of your income and expenses?
- Do you have a savings plan for any financial setbacks or unforseen events?
Are you on track for the lifestyle you want?
We’re here to help you organise your assets and savings into a plan which will meet your goals for your lifestyle now and in retirement.
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