Depending on your early 1990s music knowledge, you may recall a certain dance track by D-Ream titled ‘Things Can Only Get Better.’ Some of the lyrics include, ‘I lose track of time and I can’t see the wood for the trees’.
To get you in the right frame of mind, why not have a listen.
Not sure about you but almost a quarter of a century later, it still makes me feel like dancing…
And while the Irish band may have been talking about love, let’s apply to it money instead. It’s true, it is easy to lose track of time and to lose focus too. Perhaps those goals you set months ago, aren’t looking too rosy? Well, heed the words of the song and remember, things can better.
Setting goals can feel overwhelming so instead, why not list your achievements from the past 12 months instead? Noting down recent personal or financial achievements will help you focus on the right goals moving forward. For example, did you participate in a special sporting event, enjoy a memorable trip away, pay a little extra off the mortgage or take on new responsibilities at work? Write them all down and give yourself a bit of a pat on the back. And now that you’re thinking positively, let’s think about the next 12 months or the 2017/2018 Financial Year by setting new goals or tweaking those already on your list.
In your newly created list with many clear and achievable objectives, hopefully there are some financial goals. Do you want to improve your budgeting, invest some money or even create a holiday fund for that one guilt-free trip every year?
Whatever your objectives, why not have someone help you fine-tune them? Stand out from the 80% of Australians who don’t enlist expert advice and instead, talk money matters with those who live and breathe finances. Having someone to hold your hand through the process and celebrating the wins with you is a great way to achieve your goals in the short, medium and long-term.
Here’s our take on the importance of goals.
The other great advantage of a financial adviser is that they’ll keep you accountable too. Financial advisers help you prioritise your goals and will ensure that you’ll stick to your plans. One of our clients says she no longer reaches for her credit card with the same robotic approach she used to. Knowing her adviser is on the journey with her means she now rethinks those extra (and often unnecessary) purchases. And the result? A much healthier bank balance…
Around 47% of Australians wish they had more savings. People tend to buy the things they need first, followed by the things they want and if there’s any money left over, that money becomes savings. But often, just when you think there are extra funds to set aside, the car rego is due, school fees need paying or that annual insurance premium is looming. It can often feel like two steps forward, one step back.
It’s important to be deliberate with savings. The ‘let’s hope leftovers’ are not savings. Look at your pay packet and set aside money each time you’re paid. Arrange for a certain amount of money to go into a separate bank account. Of course, ensure you have enough money coming in to cover your weekly/fortnightly/monthly expenses and even a little extra for the aforementioned insurance premiums, car services etc. But in committing to a savings plan, you can achieve great results.
About 27% of Australians hoped to have invested more in 2016. Just as being deliberate with your savings is important, so too is being knowledgeable about your next potential investment. Knowing exactly how much you will need as a deposit for an investment property or to buy more shares in those well-performing stocks will keep you focussed. But if you’d rather leave the nitty gritty to the experts, that’s fine too. We’re happy to help.
Reflecting on the past year may leave you disappointed. You may not have run that half-marathon, lost those 10 kilograms or got that deposit together. There may not be big, bright ticks next to those lifestyle or financial goals you listed 12 months ago. But chin up, with the end of the current financial year in sight, you can set some amazing objectives for the 2017/2018 Financial Year. If listing achievements to date, seeking expert advice, setting up a savings plans and knowing your next investment seem like a tall order, then start with one of them. Talk to someone who can guide you.
And remember, D-Ream were right, things can get better.
Our guest writer, Yvette Harper, has many years of experience in the media having worked at Channel 9, Prime7 and in print media. Yvette’s writing background is diverse with articles published in magazines such as the Australian Women’s Weekly, Practical Parenting, Coast Living and Focus Magazine. With her freelance feature pieces, Yvette’s profiled celebrities and written in-depth articles on breast cancers survivors and organ donation. She has also written magazines for Coffs Coast Tourism. More recently, Yvette has focussed on copyrighting for business clients to improve their relevant marketing material such as website content, social media, newsletters, internal articles, advertorials and award submissions.
Yvette’s been blessed to have some fascinating life experiences too such as managing a wildlife photographic camp in Botswana and living in Southern Lao where weekly grocery trips meant getting the passport out and going to Thailand with her young children. Yvette and her family are now Coffs Harbour based.
We credit the following article as the original source from which this article was developed
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