While the standard of living is constantly improving in Australia, economic disruptions, stagnant wage growth and continually increasing house prices are putting more and more people under financial stress.
That niggling feeling that you’re not in control of your financial situation can keep you up at night. It may be as simple as being unsure whether you will have sufficient savings in super to retire in the way you want. Many people haven’t put aside the time to understand their financial position, and the constant pressure of earning money and paying bills can feel overwhelming.
A good place to start is completing this Three-Minute Financial Check-Up.
Your Three Minute Financial Check-Up
|
Action |
YES |
NO |
|
Do you pay all your credit cards off in full by their due date? |
|
|
|
Do you sleep easy knowing all your bills will be paid when they fall due? |
|
|
|
Do you have a budget? |
|
|
|
Do you stick to your budget? |
|
|
|
Are you making all your loan repayments on time? |
|
|
|
Do you know exactly how much your home loan is today? |
|
|
|
Do you know what you would do financially if you lost your job tomorrow? |
|
|
|
Are you confident about your children’s financial future? |
|
|
|
Do you have appropriate life and total and permanent disability insurance in place? |
|
|
|
Do you have income protection in place? |
|
|
|
Do you know how much you have in super? |
|
|
|
Are you and your partner in agreement about your finances? |
|
|
|
Do you feel confident about your overall financial position? |
|
|
If you’ve answered ‘no’ to any of these questions, then you could benefit from speaking with a financial planner. As a financial planner, we will be able to tell you how you can take steps immediately to improve your financial position and help you get back on track, so you feel more in control.
This will allow you to move into the new year with confidence and peace of mind, and you can embrace life with more enthusiasm and gusto.
The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional. We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adv
