As millions of Australians prepare to enjoy some work-free time this Easter long weekend, some people will use the time out of the office to refresh and get reinspired on their money goals.
If that’s for you – and it might not be – here’s what we suggest you add to your Financy-to-do money tick list this weekend.
YOUR MONEY GOAL
If you do nothing else but enjoy the sunshine and let ideas drift in and out of your mind, pencil in a little time for thinking about your money goals. These might be things like travel plans, education, parties such as a 30th or wedding plans, or investments such as property or building a share portfolio.
Check your money situation. Log into internet banking and reflect on how much has gone out of your key bank accounts over the past 30 days and think about what money is coming in and from where.
It’s also a good idea to check how much you may have paid out in ATM fees and other bank fees that could perhaps be easily reduced by either switching accounts or being more conscious of the ways you spend.
Are your property affairs in order? Firstly think about what money you are paying on the mortgage or rent, or indeed how much money you might be saving towards your property goal.
Then ask yourself, do you have the right bank accounts set up to save, or perhaps have you set up weekly repayment schedules on the mortgage to fast track interest repayments?
Also it’s probably a good time to think about what interest rates you are paying and whether you can do better. Remember that many of the interest rate comparison websites – which are our friends on Financy – only advertise basic rates. This means you can often get better rates if you call the bank yourself to negotiate or use a broker.
What does your super look like? Have you tracked down any lost super at www.lostsuper.com.au?
It’s also good to log into your super account to familiarise yourself with your money and ensure your nominated beneficiaries are up-to-date.
Check how much money is coming in and what invoices are due or even overdue. Check that you are up-to-date with paying yourself regularly with super and if you are not, consider making this happen.