Is it time for your financial flu shot?

24 April, 2017

The weather is in the process of taking a dramatic turn, from hot to decidedly autumnal. The annual flu shot reminders are constantly popping up in the pharmacy and your local doctor’s office. Why not let this be a reminder of different kind of health check?

Why you should check-in with your financial health

You probably have a gut feel if your finances are under control, or could be better. No matter where you sit on this spectrum, there are things you can review and check in on annually to make sure you’re getting the most from your money and financial institutions. Use the start of flu season each year as a reminder to run a quick assessment of your finances, and reduce the chance of long-term illness.

What symptoms do I look at?

It’s time to take a good look at the whole picture. Like your body, symptoms in one area could indicate illness in another. So don’t just check your everyday account, but look a little deeper.
Think about all the places your money goes - how many savings accounts do you have? What are their fees? What are their returns? Now look at debt - home loans, credit cards - do you need every credit card you have?

Just taking the time to take a good look at your financial information might help you rethink how you structure and save your money.

What are my supplements?

Something that people often forget about is superannuation. Do you know where all of your super is living? It’s never too early to get your super on track and the best way to start is by making sure you know exactly where your money is. It sounds simple but it’s often overlooked.

What’s next?

What else happens each time you got to the doctor? We bet that someone checks your address, or date of birth, or phone number.

Are your details up to date? With more and more banking occurring online make sure you email address is associated with your accounts. If you’ve held accounts for a number of years it’s likely some of your information has changed over time, and it’s possible you’ve never shared your email address.

Why not sit down with someone to give you a professional diagnosis? Our Financial Planners can show you the way forward if you're looking to make changes. Or our Mobile Relationship Officer Tony can come to your house to discuss any loan options, should you be thinking about refinancing, or even taking out your first loan!