Whether you are single or married, have a mortgage or not, with or without kids, it is not uncommon to feel pressure on your finances. Everyone’s circumstances are different but at this stage in life any good decisions you make can really pay off down the track
Things to think about are paying down bad debts such as credit cards and personal loans. If you have a Mortgage consider paying extra in order to save interest and pay it off quicker.
Consolidating Super – You may have a couple of super funds from different employers in the past. For simplicity and to stop receiving the numerous statements from different funds in the post it is a good idea to get your super in one place that you can keep track of.
Topping up your super – It’s a good idea to consider putting in extra for down the track.
Beneficiary Nomination – If you haven’t already nominated someone who you would like to receive your super balance and any potential insurance payout, then it’s a good time to make sure that if anything happened to you that your super would go to the correct person.
Get professional financial advice on diversifying your wealth through Investing and borrowing to invest- In order to help accelerate your wealth creation look at options such as shares and managed funds.
Take out adequate Insurances – Life Cover, Disability cover, trauma and Income Protection could all be important, especially if you have dependants or debts. Planning for the unexpected could save you or your family a lot of financial pain or pressure.
This article contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances.