How financially healthy are you?

At Rethink, one of the biggest and most important things we do and believe in, is supporting people to have an emotionally healthy relationship with money. This can often take time though, so instead I’d like to offer some practical tips to support you in managing and enjoying your money.


Set goals – goals give your money a purpose and take the focus off money per se and shift your focus to your goals or things that are important to you. When setting goals, think about what’s really important to you, where you are now, both in life and financially, and where you’d like to be in a year, five years, ten years and so on.

 

Get clear on your goals and set a plan to achieve your goals, but also celebrate your milestones. For example if you’re working towards saving for a home deposit, each time you reach a milestone, where you’ve saved another $1,000 or $10,000, treat yourself to acknowledge and recognize how far you’ve come.


Understand where your money is going – you know how much you earn each week, but do you know how much you spend each week? While, it’s important to know what money is coming in and going out, it’s also important to not get overly caught up in every dollar. It’s also extremely important to make sure you have some ‘fun money’ and reward yourself along the way.


Feeling safe and secure – insurance provides peace of mind, but there is also a tangible benefit with claim payments helping people not only protect the life they have created, but the one they have dreamed of for the future.


Review your super – do you know where all of your superannuation is? By holding more than one super account you could be paying additional sets of fees, wasted money and energy. A way to reduce paying additional fees is to consolidate your super into the one fund.


To find out how financially healthy you are and for more support on making 2016 a simple, fun and easy year, take our complimentary financial health check: www.rethinkfinancial.com.au/financial-planning/tools-calculators


Don’t forget to have fun along the way. One of our favourite sayings at Rethink is “make sure it’s simple, easy and fun!” Rethink your possibilities.


Disclaimer: This editorial provides general information only. Before making any financial decisions, consult a financial planner to take into account your individual needs.

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