Your New Year Resolutions

So it may have slipped past you but a New Financial Year has dawned on us all, bringing with it an expectation to adopt and implement some New Year’s Resolutions. So if you are struggling to come up with some, here are some tips.

1.       Make sure you bring all your paperwork up to date and ensure it is easy to find and understand

Its easy to let unwanted subscriptions to continue, or continue with that same old electricity plan. Take the time during these winter days to review your day-to-day finances and at the same time, ensure your paperwork is filed in an orderly way

2.       Review your financial goals

Has there been anything niggling at the back of your mind. Should you increase your super contributions, start that special saving account for an overseas holiday. Now is the time to actually write down those goals and how you will achieve them

3.       Review your superannuation and investment portfolios

One of the biggest mistakes you can make with superannuation or indeed any investment portfolio is to wrongly think it will take care of itself. Make sure you understand where your money is invested and that you are happy with the performance of those investments.

4.       Get quality professional advice

If nothing else you are another year closer to retirement but regardless of that, if there have been any life changes that impact on your finances seek quality advice. Its worth every cent.

5.       Improve your financial literacy.

Try to read at least one financial planning advice book a year to help you better understand at least the basics in better managing your money. Don’t rely on social media or blogs by so called influencers who more often then not are merely trying to entice you into a scam.