New Financial Year resolutions
We think that the new financial year is actually a much better time to make resolutions than January 1st. Tax time is here, you’ve had to sort out all of those receipts and deductions, and it’s the perfect time to re-evaluate and start thinking about another year.
Once your income and expenses from the last financial year are compiled, take a step back and evaluate your financial situation. Are you getting the best possible deal on your insurances, mortgage and household expenses? Should you be putting more money into superannuation or other investments? These are all important considerations and even some small changes could save you hundreds of dollars every year.
If you don’t have short and long term goals, now is the time! It is impossible to budget or save without a goal in mind. Planning for your dream trip to Italy in two years? Make sure you can do it in style by working with your financial adviser to ensure that you are doing everything possible to make your hard work worthwhile.
Are your assets protected? If you are concerned about your assets being at risk then consult with your adviser about how best to protect what you have. There are a lot of factors to consider such as capital gains tax and stamp duty, so it is essential to understand what is involved and make informed decisions.