Personal Finance

The start of a new financial year is a great trigger to reboot your financial life with the aim of being in better shape for summer.

Taking the financial stress out of your life will transform the way you live. You’ll be happier and have more confidence to take on the world. All it takes is the self discipline to put these 10 reboot resolutions into action.

1. Set financial goals

Just like in your personal life, setting a goal gives you something to aim for and motivates you. It could be to get out of debt or a savings goal for something you’re dying to have.

Paying off the mortgage as soon as possible or making contributions to superannuation are two of the best savings goals to have. Concentrate on the mortgage first, and when that’s under control make superannuation the priority.

2. Get control of your finances.

Know exactly where your money is going each day. Sit down with your bank and credit card statements and list everything you’re spending money on… from rent and food to clothes, coffees, transport.

Take around a notebook for a month and write down every time you spend cash… a newspaper, coffee, sandwich etc. At the end of the month look at your list and I bet you’ll be amazed at where the money goes and you’ll see some obvious areas to save.