New Year Financial resolutions 2015 – Part 1
It’s usual at the start of each New Year to sit down and make resolutions.
Typical New Year resolutions include losing weight, eating healthier and starting an exercise program.
But have you thought about what New Year financial resolutions you have for 2015?
To help you out, we’ve put together a list of 10 New Year financial resolutions for 2015.
New year financial resolution 1 – Set a long-term financial goal
Whether you’re a Generation X, Generation Y or a baby boomer, setting financial goals for the year ahead can help you achieve the lifestyle you want.
When you’re setting your goals, consider where you’d like to be at the end of the 2015.
Long-term financial goals can include:
- Saving a deposit for a house, and
- Starting an investment portfolio.
New year financial resolution 2 – Look after your financial health
You may have a rough idea of what you owe on the mortgage and how much you have in your superannuation fund, but when was the last time you took a good look at your financial health?
Making the time to see a financial planner will help you understand:
- Where you’re spending money and where you can save money,
- What investments are giving you the returns you want, and
- Whether you’ve got the right level of insurance for your life circumstances.
New year financial resolution 3 – Sort out your superannuation
Do you have more than one superannuation fund?
If you’re like most Australians, you probably do!
It can seem like a chore to get your superannuation sorted out, but we can help you:
- Find your lost superannuation, and
- Consolidate your superannuation into one fund.
It’s also a good idea to think about contributing a little bit more to your superannuation in 2015.
Adding more to your superannuation now means you’ll have more when you retire!
New year financial resolution 4 – Cut out wasteful spending
Have you ever looked at your bank statements and wondered how you could have spent so much money?
Taking the time to sit down and look at your bank statement will show you where you’ve wasted money.
Common areas of wasteful spending include buying:
- Lottery tickets,
- Lunch everyday,
- Too many fruit and vegetables that end up going bad,
- Magazine subscriptions that you don’t read, and
- Clothes you don’t end up wearing.
New year financial resolution 5 – Set short-term financial goals
Having good financial health doesn’t mean that you can’t enjoy your life now!
After all, if you can’t have fun now, you won’t be motivated to stay on track and achieve your long-term financial goals.
Short-term financial goals like saving for a holiday to have at end of 2015 can also be used as a reward for sticking with your New Year financial resolutions!
We’d love to help you out with our financial resolutions and can be contacted here.
The advice provided in this blog is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. For our full disclaimer, please click here.