As we approach the start of the school year and return to work after Christmas break, many of us will take the time to think about our goals and plans for 2017.
For many of us, our finances is an area we strive to improve.
There are plenty of ways to save money and improve our financial position. The start of the year is really the perfect time to implement new plans that will help change our financial situation for the better.
Here are our tips to help you get on the right path for the New Year:
Pay off your credit card debts
Do you have a high credit card debt at this time? Spent more on Christmas presents than you planned? Target these debts first so it is not hanging over your head into the New Year. If you can’t pay it off in full, make a plan to pay off a certain amount each month. Avoid paying for things with your credit card until the debt is fully paid off.
Take control of your budget
Time to revisit or create a budget to see if it truly represents your current personal household income and expenses. Update any change to income, expenses, and debts. If you have never used a budget before, this may be a great opportunity to create one so you can be in better control of your finances. Your mortgage broker, George Cremona has some great templates to help you get started
Review your mortgage
Some of Australia’s lenders have started to raise the home loan interest rates. A home loan health check is the best way to ensure you are still in the right product for your needs. It is always worth comparing your lender to others in the market, and seeing if there are better deals available. This service is complementary and after an appointment or phone discussion your mortgage broker will do the hard work in finding and securing the best home loan option for you.
Review your insurances
Our lives are constantly changing, so it is crucial your insurances are relevant to your circumstances. A home renovation, a new job, a change of address, the arrival of a baby, or a change in a relationship status are just some of the reasons to review your insurance policies. You may be over or under insured. An appointment with a Mortgage Choice Financial Planner will assist in giving you the peace of mind to know you have adequate cover for all situations.
Taking the time to implement changes – even small ones – will pay off in the long run. To review your financial situation this New Year, give your local mortgage broker, George Cremona a call today.