News

At this time of year, uncertainty often surrounds financial security. Christmas is an expensive time in most households and businesses, and subsequently, it is a time to reflect upon how to manage expenses in the coming months.

Taking an annual financial ‘health check’ can help you order your finances, stay on top of debt and increase savings for short and long-term dreams. Instead of worrying about the future, why not and take this opportunity to make some smart resolutions and embrace ‘change’ in a positive way?

 1. Pay off that ‘bad debt’ on your credit card!

Keep your luxury spending to a minimum and get rid of debt owing on the credit card. By spending less and saving more, you will only increase your wealth.

 2. Set up an auto-savings plan

Make savings a priority by having part of your pay cheque automatically deposited into an investment or savings account. This money will grow without you lifting a finger and set you up to achieve your short-to-long-term goals.

 3. Set your goals

Why not focus your New Year’s resolutions on your financial health? Create an action plan to achieve your goals and whatever they may be, they will lead you to a healthier financial future.

 4. Strategise your tax-effective investments

Carefully review your investment strategies to ensure they are tax-effective. The best way to do this is by obtaining professional advice, as strategies should be individually tailored.

 5. Review your Super

The year 2010 has brought about some changes to the Superannuation system, which may affect each individual differently. Whether retirement is a present issue for you, or not, reviewing your Super will ensure your future is secure and give you peace-of-mind.

 6. Protect your assets

When you think about your most valuable asset, your car or home may come to mind. However, your most valuable asset is your income. In the case that you are injured or ill, Income Protection covers up to 75% of your gross income. In addition to this, the premiums are generally tax-deductible.

 7. Keep your finances on track!

With your financial goals and action plan set, ensure you review your investment plan at least once a year, so that your hard work will pay off and you will be able to watch your wealth grow.

As 2010 comes to an end and financial uncertainty calls, remember that a New Year beckons, offering time for reflection and new opportunities. Face up to ‘change’ - and go for it!

 Winner Partnership wishes you a happy Christmas and prosperous New Year.