Money saving tips
With today’s growing costs, more and more Aussies are finding it difficult to get ahead and save towards their important goals in life.
Having a disciplined program to plan, save and protect your financial future is critical in achieving your goals whether it’s going on a holiday, buying a new car, or investing in property.
3 Financial planning expert tips for saving more
1. Set your goals
Having specific goals to work towards is important for all individuals.
Not all goals may be financial related. It may simply be changing old habits, or spending more time with family.
- Listing your short and long-term goals
- Breaking down your goals by priority
- Understanding what is currently limiting you from achieving your goals
- Knowing who you need to help you achieve your goals.
Ask yourself “ How will I feel if I don’t achieve my goals? What impact will it have on me and my loved ones?”.
2. Prepare a savings plan
You should ask yourself when starting your savings plan, like:
- Where does all my money currently go?
- How much should I be saving each week?
- How do I make the most of my savings?
- Where should I put my money while I’m saving?
3. Get the help of a trusted financial planner or adviser
A financial planner is a trusted adviser that has the experience to help you achieve your short and long-term financial goals.
Ways that a financial planner can help:
- Help you identify and establish clearly achievable short and long-term goals
- Analyse your spending patterns
- Review your financial commitments and debts
- Identify your opportunities to save money
- Recommend savings or investment products to achieve your goals
- Review, recommend and organise appropriate insurance to protect you, your family, and your financial assets
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