Five steps to reach your financial goals from ASIC's MoneySmart
8th February, 2017
The New Year is the perfect time to take control of your money by taking steps to set and achieve your financial goals. Perhaps you want to buy a home, take a holiday or upgrade your car? Maybe you want to clear your debts, add to your super or start investing for your future.
ASIC’s MoneySmart shares some financial tips and tools to help you reach your financial goals.
1.Review your finances
- Work out your current financial situation.
- Consider your short, medium, long term financial goals.
- Check your credit history.
2.Create a budget and start to save
- Create a budget to make sure your money goes where you want it to.
- Track your daily expenses to see where you can save.
- Build a savings fund to cope with unexpected expenses.
3.Take control of your debts
- Tally up your debts.
- Prioritise your debts.
- Consider refinancing or debt consolidation.
- Get to know your super.
- Combine super accounts to save fees.
- Make extra contributions.
5.Consider financial advice
- Understand the financial advice process.
- Identify your goals and advice needs.
- Know the right questions to ask the financial adviser.
No matter what your finances look like right now, by focusing on your financial goals you can make 2017 your best year yet.
Visit ASIC’s MoneySmart for more information and tools to help you reach your financial goals.