Are you making New Year's resolutions this year? We have a couple you can add to your list to help 2019 be your most successful year yet!
Pay off your Debt
One of the most important goals you can set for 2019 is to clear as much of your debt as you possibly can. If you’ve got personal loans or credit card debt, then you should prioritise to pay these off. No matter how big or small the amounts you owe are, with some careful planning and budgeting, or even consolidating your loans where possible, you can make a big difference to your financial health. Chipping away at those amounts can also help you in the future if you need to take out future loans.
Reach your Savings Goal
Make 2019 the year that you finally it that savings goal. Once you have paid off your personal debt, you will already be in the habit of budgeting and saving, so let’s keep that momentum going! Maybe you are saving up for a new car, a fabulous holiday or a deposit for your first home, or even if you don’t have anything in mind, set yourself a number goal instead. By setting up automatic payments into another account as soon as your pay goes in, you can be sure that your savings will steadily grow and you may not even notice the money missing! You can even look into opening a high-interest savers account to take advantage of interest to boost your savings further.
Sort out your Superannuation
Getting your super sorted can make a huge difference to your financial health, especially once you start looking at retirement. The easiest way to get started is by searching for any lost super you are due and checking you have additional super accounts. The easiest way to consolidate your super is by using My Gov website (you’ll need to sign up for an account) which will find all super accounts associated with your tax file number. Then all you’ll need to do is decide which one you’d like to stick with, at this point it is worth using a tool like a super comparison website to compare the accounts to see which one offers better insurance options, lower fees or better investment options.
Then once you have chosen your account, there should be simple and easy-to-follow instructions on how to roll over your super available on each accounts website. You will also need to ensure that your current employer has the correct super details for your chosen fund.
You can also investigate whether options like salary sacrificing will work for you as they give a huge boost to your super balance in the long run.
With these simple tips, you can make 2019 the year that you reach your financial goals that will help to set you up for a financially fit future!
At Bluebay Home Loans, we resolve to help everyone get the perfect home loan to suit them! Get started by booking an appointment with us today.