Your Money

Three steps to put order back in your money life

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Most Australians live their financial life in chaos. No judgment, chaos is a state many people fall into! But, it’s also easy to get your act together and turn your money life around. All you need is a good plan, a determined will to change your bad money habits, and a little bit of know-how.

Here’s where I come in. There’s an Trading & Investment Expo coming up in Sydney on 6 August and I’ll be there presenting my exclusive seminar on ‘How to go from money chaos to order and wealth’. For those of you who need some direction, or for those whose finances are in shambles, I highly recommend coming along. I’d love to see you there.  

But first, I’d like to give a freebie to all my loyal readers — three steps to get your money life under your control.  

1. Take the first step – make a plan

Write down your goals – when goals aren’t written down, they’re not top of mind and therefore harder to achieve.

Next, do a budget. I know, I know… this sounds boring, but a budget tells an exciting story. Your budget will tell you how much you can save. And if you want to get ahead you need to find some savings.

Now here’s my tip and this is probably the best money advice you’ll ever hear – pay yourself first. This means saving some of your income before you give any away to Woolies or Myer or any other business hungry for your money. 

2. Start saving

Start saving your money with a little something I like to call ‘GSTing your life’. Take 10 per cent of your pay each week and bank it or invest it – don’t spend it! Keep growing this and it’ll make you rich. 

3. Kill debt

Become guilty of double homicide – kill your credit card debt and kill your loan debt. If you have any loans, make sure you have the lowest comparative rate of interest possible on all of them – credit cards, home loans, personal loans, etc. Become a debt-killing expert.

Learn how to reduce debt by paying more against your mortgage, making weekly or fortnightly payments and putting tax refunds against your loan to save you years and loads of interest. 

Of course, I’ve only just scratched the surface. I’ll be covering how to turn your finances around in much more detail come 6 August. I’d love to see you there so we can work on your money management mojo together.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Friday, July 29, 2011

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