Money Health Check Take the first steps towards

Money Health Check Take the first steps towards a better financial life

What we will cover § § § Where is your money? Budgeting Home loans Credit cards Saving Superannuation 2

Where is your money? How much money do you have? § § § Your home Super Investments Savings Your possessions 3

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What is a budget? A plan, what you expect to: › Receive (e. g. income) › Spend (e. g. bills) Why budget? Helps you organise your spending: › Spend money on the things you really want Achieve goals: › Save for big things 6

Money. Smart’s budget planner 7

Got a home loan? Under control? › Make extra repayments to get ahead and save thousands in interest Struggling a bit? › Start making changes now › Get help 8

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Got a credit card? Under control? § If you are paying off your credit card balance in full each month then you are in control. Struggling a bit? § If you can’t pay off your bill in full, make sure you pay more than the minimum repayment and work down your debt as quickly as possible. 10

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Saving List your goals § § Work out how much money you need. Identify where you can make savings. Tip: Set up automatic transfers from your everyday account to a high interest savings account. 12

Saving Save for a $3, 000 holiday in 1 year Find the money: Take lunch from home instead of buying › Saves $5 per day = $1, 200 per year Use the work coffee machine instead of going to the cafe › Saves $3 per day = $720 per year Buy home brand or discounted staple foods instead of big brands › Saves $25 per week = $1, 200 per year Enjoy your trip! 13

Superannuation § § § Your employer pays money into your super account (usually 9%) Super money is invested by your fund and you can access it at retirement You can add more from your own money § § Is your super on target? Use Money. Smart’s retirement planner to find out 14

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