The end of the financial year is a good time to look into all your financial affairs with a view to sorting it all out and giving yourself a better deal. Neoskosmos.com suggests reviewing the following as part of a financial health check:
- Regular bills: consider your utilities, telephone and internet plans, fuel bills. Don’t just stick with your current rates; look at where you can make savings, potentially $100 a month or more.
- Home loan: these vary widely between lenders, so check what you’re paying and change if you can save. Paying off your loan fortnightly will reduce the term of the loan.
- Insurance: make sure your insurance is adequate for home and contents, income protection cover, and life insurance. Consider professional advice if you’re unsure about your family’s needs.
- Savings: beware inflation diminishing your savings. Use a comparison website to find the most favourable rates.
- Super: check your super fund and any related fees. Aim to maximise your returns and minimise charges by comparing different funds.
Source: http://neoskosmos.com/news/en/Financial-health-check
