2020 is quickly coming to an end and we can all start focusing on taking the right steps towards a much better 2021! As Tweed Heads favourite financial advisors we thought it would be the perfect opportunity to do a refresher course on our top saving tips.
Making sure you have a ‘just in case of emergency’ account has never been more important. Most of us would have learnt from this year having a backup can make a huge difference.
Start by making a budget, every financial planner on the Gold Coast will tell you this is the number one step to saving. Have a goal set in your mind, write it down, stick it on the fridge or somewhere you’ll see it everyday. By setting a goal and writing it down it becomes real and not just a number floating around in your head.
Now, step two. Track your spending! If you have internet banking with any of the big banks, etc; Commonwealth, NAB, ANZ, Wespac their apps have a ‘track spending’ option. Take advantage of this and start to take note of what your incomings and outgoings are.
If you don’t happen to have this option on your internet banking there are a range of apps that can help you out; Expensify, Wally and Concur are just some. If you don’t like using apps then simply get yourself an expense tracking book and jot down when you are spending and what you are spending it on.
As Tweed Head financial advisors we would hope that you aren’t bogged down by debt, but let’s face it, it’s a part of life. So for step three try and reduce the level of debt you may have. Even if it’s just paying that little bit extra to your credit card each month.
Where you can buy things outright instead of putting them on your card or using payment methods such as Afterpay and Zippay.
Start buying smarter! For step four, start shopping around for the best deals. More often than not we are inclined to buy whatever is in front of us. We are all guilty of it, it’s lazy shopping.
Do some research on a product, service or even credit card or loan. Taking the time to find the right price for you can end up saving you some serious money in the long run.
Now we know that for some people saving just doesn’t seem to work and can actually become quite stressful. That is where we come in, here at Oculus we are you friendly Tweed Heads financial advisors, we are here to help!
So, for step five, if you find the idea of organising yourself to reach that goal a little too stressful, give us a call. Our financial planners prefer a hands-on approach to make sure you keep focus and are on track to that end goal!