Welcome to the new financial year! What better time than now to get your finances on track and feel in control of your financial future with our simple tips.
Set a money goal and create a budget to achieve it
What do you want to achieve this financial year? Maybe you want to accelerate your savings, contribute more to your super, or pay off some debt – whatever it is, a budget can help you achieve it.
A budget can be as simple or as detailed as you like, but the main point is that you work out how much you earn, and minus your expenses – whatever is left is money that can be saved away.
To reach your savings goal faster, you can look for the many ways to reduce your spending. There are lots of ways to do this. It could mean making less unnecessary purchases, eating out less, or even cutting back on subscription services you don’t get much use from. For more tips on creating a budget, check out MoneySmart’s budget planner.
Expand your financial know-how
Increasing your financial literacy can help you take control of your finances. We all lead busy lives, and we often have a lot on our plate – but it’s important to be involved in managing your money.
Women face different financial challenges to men and the Women’s money toolkit by MoneySmart offers tips and tools to help you manage your money. Explore the toolkit here.
When it comes to super, the reality is that on average, women retire with less than men. To help you improve your super knowledge (and in turn, your super balance), Vision Super have a range of fact sheets available here. You can also follow our Facebook page for super tips and short explanations, and of course – continue reading our Vision Women blog.
Get your debts in order
Debt consolidation is bringing all your existing debts together in one manageable debt. It can help you control your repayments, get a clearer picture of what you owe, when you’ll be able to re pay your debt, and help you minimise your fees.
You can consolidate your debts with a personal loan or by transferring your debts to a lower rate credit card. Find out more about getting out of credit card debt, in this article by ME Bank.
Get the best deals
Perhaps you’re looking to update your insurance, change electricity provider, get a new credit card, or take out a home loan. Doing your research before making a substantial purchase can help you save money.
Consumer advocacy website, Choice can help you compare insurance plans, loans and just about anything else.
Sort your super
Sorting out your super doesn’t have to be complicated. You can do so much super-admin quickly and easily online.
Head to Vision Online to update your details, contribute to your super, review your insurance, consolidate your super accounts and more. Log in via the Vision Super website and start exploring.