1. Plan for emergencies – Keep building your emergency fund.
* This money can cover unexpected necessary expenses like medical, car damages or crucial home repairs.
2. Bump up your savings – Try to save a minimum of 5%-15% of your income each cycle.
3. Do a budget and stick to it – Download a free budget and expense tracker app to keep a record on the go.
(TrackMYSpend by ASIC for iPhone/ Android or Pocketbook for iPhone /Android are highly rated and easy to use.)
4. Manage your credit card debt – Shop around for the best deals to accumulate credit card debt and pay it off faster.
*Don’t touch your retirement or emergency funds for debt payment, you will need those for later, and you don’t want to create more debt.
5. Plan for retirement – Manage your superannuation, investments and contributions.
* Ask us about a free consultation with our Superannuation Specialists (Enter your details in the form below using #BKMFinanceFit in the message section)
6. Outline your savings goals – Monthly and annually. Review your progress until you reach your targets.
7. Choose your investments wisely
8. Pay off your loans
9. Allocate money for ‘FUN” – ‘We don’t live to work, we work to live’ so make the most of time out and have some fun.
10. Don’t lose site of the goal – Financial Fitness = Increased Health and Wellbeing.
If you would like to speak to any of our DFK Benjamin King Money or BKM Financial Services team to assist you in managing your personal and business finance or to help plan your fitness schedule for 2015, contact us on 03 9804 0411.