01 Start to Budget

Budgeting is one of the most important things you can do to be financially successful. A budget helps you to map out your finances and work out where your money is going. Setting up a budget for the first time may be intimidating, but you shouldn’t let that stop you. Start with the essential costs like rent or mortgage, food, bills and transport, then allocate money for any debts you’re paying off.
Anything left over can go towards your other money goals.

If you have a hard time sticking to a budget, you may consider setting up bank accounts for difference expenses. This will help you to stop spending once you have reached the limit each month.

Goals for Your Budget:

  • Set up a monthly budget and stick to it all year long
  • Reduce your spending in specific categories each month
  • Budget with your spouse or other family members.



02 Get Out of Debt

Getting out of debt is another key step to taking control of your finances. By really focusing on getting out of debt you can reduce the amount you pay in interest, and you can make the money you’d otherwise put toward debt payments somewhere else, such as your investment portfolio or to work toward a larger goal.


Goals to Get Out of Debt:

  • Make a list of your debts ranked from highest to
    lowest interest rate.
  • Work out a repayment plan
  • Reduce miscellaneous spending to pay off debt

Take control of your future by setting some financial goals this year.

03 Start Saving Money

Saving money is another important key to financial success. It is ideal to save at least 10% of your income each month. This money will add up quickly. You should consider saving this amount in addition to your retirement contributions if you can afford it.

Remember, sacrificing a few dinners out a month is beneficial in the long run. By establishing a savings habit now, you are opening the doors for what you can do during your retirement years. If you are struggling to find ways to save, you can start by cutting back on some of your expenses. Saving can be more effective if you have something you are saving for, as well.


Goals to Help You Save:

  • Stop eating out
  • Reduce your grocery bill
  • Find ways to save on utilities
  • Set a monthly savings goal
  • Start with small short-term financial goals and work to larger ones.

Any advice in this article is general advice only and does not take into account the objectives, financial situation or needs of any particular person. It does not represent legal, tax or personal advice and should not be relied on as such. You should obtain financial advice relevant to your circumstances before making product decisions. Where a particular financial product is mentioned, you should consider the Product Disclosure Statement before making any decisions in relation to the product and we make no guarantees regarding future performance or in relation to any particular outcome. Whilst every care has been taken in the preparation of this information, it may not remain current after the date of publication and Australian Unity Personal Financial Services Ltd (AUPFS) and its related bodies corporate make no representation as to its accuracy or completeness. AUPFS is a registered tax (financial) adviser. Any tax advice contained in this presentation is incidental to the financial advice in it. You should seek specialist advice from a tax professional to confirm the impact of this advice on your overall tax position. Nicole Burgess & Brett Holmes are Authorised Representatives of Australian Unity Personal Financial Services Ltd (ABN 26 098 725 145), AFS Licence No. 234459, of 271 Spring Street Melbourne VIC 3000

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