If you are like me you got taught Algebra and Trigonometry in school but not how to buy a house, lease a car or raise a family on a single income. The most common reason for people coming to me for advice is because they want to get ahead financially so I created this how to guide.
We live in an world of instant gratification which comes at a price. The key to self-control is finding what you truly value and what will truly make you happy then align your money habits to these values.
As a Brisbane based financial planner this is favourite financial goal of clients. To take control of their finances, make the right decisions and move forwards. You need to make a choice to start making smart financial decisions.
Most people have no idea what they spend their money on. Their pay comes in, bills go out and what is left has to make it until the next pay cheque. Unfortunately this lack of knowledge leads people to spending more than they earn. The best thing you can do is ready my blog on How to budget and save money
Unexpected bills, health problems, job instability, family loans, car problems and tax bills are just some of the many reasons why it is important to have an emergency fund. Because most people spend more than they earn many do not have one and this leads to further debt and further problems.
Depending on your financial goals, tolerance to investment risk and other factors this means different things to different people. But if you never have investments and your money is always sitting in a cash bank account earning 0% interest you are always going to be trading time for money in your job.
Superannuation is a beneficial tax effective way to save for your retirement that we do not utilise enough. Thanks to investment returns and the long investment period putting a small amount of money towards your retirement will make a big difference later in life.
It is important to understand basic taxation rules. Optimising your taxes means a lot more than using an accountant who can ‘find’ you the most deductions. It’s about planning, making financial decisions in consideration with taxation law and knowing your entitlements.
In Australia we are privileged with the ability to have life insurance and everyone should seek a complimentary financial advice consultation. No matter how much budgeting and saving you do, how much you earn, what your expenses are if you are struck with a death in the family, sickness or injury without insurance you are going to be impacted financially. It could be the most important financial decision you ever make.
Getting a Will, Power of Attorney, Guardianship, Testimony trust, binding death nominations or whatever else your estate planner recommends is part of being a responsible adult making sure when the worst happens your wishes are granted and the ones you leave behind are cared for.
You don’t need a lot of money, high paying job or be Shane Oliver to start making positive financial steps. You simply need to make a start and the best start you can make is getting financial advice. I am in Brisbane so contact me today through here.
Constancy Wealth Management Pty Ltd ABN 51 168 427 361 trading as Constancy Wealth is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706.
This information does not take your circumstances into account, so read the relevant disclosure documents and consider what’s right for you. If you acquire an AMP product or service, AMP companies and/or their representatives will receive fees and other benefits, which will be a dollar amount and/or a percentage of either the premium you pay or the value of your investments. Ask us for more details.
This post contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information
This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
Constancy Wealth Management Pty Ltd ABN 51 168 427 361 trading as Constancy Wealth
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