Five money habits for a happy financial year

  As you say goodbye to the 2015/16 financial year, it’s a good time to put new habits for success in place for the coming year. 



Here are our five tips to help you make a success of the coming year as you put your tax affairs in order and say goodbye to the 2015/16 financial year. 

1. Set your goals
Setting achievable goals and making a commitment to achieve them can increase your chance of success. 

So rather than going it alone, give yourself the best chance of living the life you want. Make a time to come see us and we’ll help you set goals for the coming financial year and work out the best way to achieve them. 

2. Make the most of your income
Managing your income well from 1 July will help set you up to be better off in the coming financial year, and beyond. 

As you’re reviewing your income and expenditure this financial year end, make a point to develop a longer term plan for managing your money. Rather than taking a short-term money focus and making decisions payday to payday, it’s time to set yourself on the road to developing wealth. 

We can help you take simple steps—like making a money management plan, consolidating multiple super accounts into one fund and setting up an automatic transfer from your everyday account to a savings account or other investment—to make a big difference to your financial wellbeing by the same time next year. 

3. Plan to invest
There’s so much choice when it comes to investments. Will you be better off with property, shares, an alternative asset like a hedge fund or a managed fund that allows you to invest in property indirectly? There’s so much to consider. 

You may not be ready to invest right now or perhaps you’re a seasoned investor. Either way, we can help. When it comes to investing your money for growth, we will share our insights and knowledge, and find the right investments for you. 

4. Protect what you’ve got
When it comes to working, earning, saving and spending, there’s no use doing much at all if you’re exposed to too much risk. 

You want to make the most of all you have, not lose it. And if your biggest asset is your ability to earn an income, you need to protect it. You may have debts and a family and if so, you can take simple steps to protect your loved ones this coming year. 

There are tax-effective ways to hold insurance too, like buying life insurance through your super fund. That way you may not need to pay for your cover from your take home pay. Some cover like income protection can be tax-deductible so now is a good time to put a new policy in place. 

We can help you find the right cover for you and your family so you have peace of mind throughout the coming financial year. 

5. Review, review, review
Life’s constantly changing. What you want changes when you start a new job, buy your first home or become a parent. As you approach retirement, things will be shifting again. 

We’re here to help you reassess your needs and put different plans in place over time so you can become better off and build wealth. This coming year, make sure you’re not spending too much on things you no longer need and put the right plans in place for your 2016/17. 

We’re here to help
Whatever you do, make sure you’re on track to be better off this time next year—one of the most-costly habits of all can be doing nothing. 

Call us today and get your new financial year off to a good start while putting everything in order for the end of financial year. It can be a lot easier than you might think.

Kingston Financial Planning Pty Ltd (ABN 34 119 387 012) is an authorised representative of Charter Financial
Planning Ltd ABN 35 002 976 294, Australian Financial Services Licence and Australian Credit Licence No. 234665

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