Future - Kick start toward your goals
Let’s face it, the life we want costs money. This is why the focus on future is essential regardless of your tax refund or financial windfall amount – but it’s a great kick start.
Boost your super
The experts are saying that a lot of us won’t have the funds we need for the retirement we want. Adding to your superannuation as early as possible allows time for the money to grow further in preparation for your later years.
Having money for a ‘rainy day’ isn’t just a well-known phrase but it can be a lifesaver in times of need. All it can take is one thing to throw your finances off course and this is where your emergency fund is your financial parachute. Set up a savings account solely for this purpose and leave it there earning interest until… it rains!
Pay it forward
No, this has nothing to do with the movie or giving your money away to strangers but, more about paying for the year ahead. For example, you could pay in advance for a year’s worth of car registration, health insurance, gym membership or home internet service. Taking the pressure off your regular income enables you to focus on achieving your goals.
Save for holiday, home, boat or car (big stuff)
To save for the big stuff, firstly, you need a savings goal and using your tax refund or financial windfall is a great start! Secondly, you’ll need to work out how much you can save on a regular basis to help you get there!
Find out how much you can save