Getting on top of finances - Tips to get you started.

Getting on top of finances

Getting on top of your finances requires transformation from being a spectator waiting for life to happen, to you actually grabbing the steering wheel. But where do you start? What are the very first steps you need to consider?

The following list is more of a thought process for when you wish to start planning to live life on your terms.

  • Start talking about it

Money decisions often become too hard and end up being swept under the carpet. If you want to start getting ahead, you need to start addressing your money issues. If you struggle to initiate the money conversation, hire a professional. That’s what they do, and often will ask just the right questions to get you talking about it and feeling comfortable about it.

  • Decide whether you actually really want it

You have to accept you need to change something and it usually comes with a sacrifice. But then again we only make sacrifices if we really want something, so you need to want it badly.

  • Be optimistic

We are constantly being swamped with all the negative information out there which can cloud our vision when looking forward. The truth is though, 99% of the stuff we hear about has zero impact on your personal life. It’s going to be extra difficult for you to get organised and start planning your life if you’re constantly worrying.

  • Think about what you really value in life

Money isn’t the outcome! It is just a tool to obtain what really makes us happy. What makes you happy? Write down a list of things that truly make you happy, your values and what you believe in. By doing this, you’re allowing yourself to think about what’s really important to YOU and not what everyone else is doing or expecting of you. Knowing what you want becomes the first step in your financial decisions later on.

  • Eliminate wastage

Here is where you need to have the right attitude. Watching expenses and knowing where your income is spent is crucial. We call this budgeting. Don’t think of budgeting as deprivation; rather see it as an elimination of wastage. Or simply just being aware of what happens to your income.

  • Debt talk 

Most of us have debt. Some good and some bad. The goal is to determine the difference and focus on paying off the bad! Correct structuring of your debt and planning ahead can also determine whether you have options once your circumstances change. It’s vital to get the right debt advice right from the start. From there figure out where you start allocating your surplus money based on those values you’ve established and what makes you happy.

This all may seem too much to process but the good news is there are financial planners out there to help you with each and every step. Don’t expect to be able to do all this on your own. Look around and find a planner you can trust. Someone who will guide, educate, encourage you and continually review your progress.

Thelma Jaekel, Jane Looker and Sound Life & Superannuation Agencies Pty Ltd trading as Sound Life Financial Services are Authorised Representatives of Synchron AFS License No. 243313.

Sound Life Financial Services: PH 98411688 WEB

General Disclaimer: The information contained in this blog is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial planner.


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Sound Life & Superannuation Agencies Pty Ltd trading as Sound Life Financial Services are
Corporate Authorised Representatives of Synchronised Business Services Pty Ltd
ABN: 33 007 207 650 trading as SYNCHRON
Principal address: Level 1, 65 Palmerston Crescent, South Melbourne Vic 3051
Australian Financial Services License Number: 243 313