The 1st of January means a fresh start. We reset and reassess, vowing to do things differently this year. And sometimes, these new goals with their slightly adjusted goal posts are actually quite achievable.
- Go the gym 3 times a week: tick
- Practice yoga: tick
- Read intellectual books: tick
- Be more financially savvy: …
A recent survey from life admin experts iSelect has revealed that the majority (59%) of Australians say they are looking to be smarter with their money in the New Year.
The question that follows though is how…
Financial resolutions don’t need to be unrealistic. Let iSelect expert Laura Crowden explain how to turn over a new financial leaf in 2017, ticking off these resolutions quickly and painlessly – unlike the dreaded gym.
Resolution #1 – Be energetic
Everybody knows that energy bills can be a drainer. However, if you are proactive about ensuring you are actually on the best energy plan to begin with, this will be the most effective way to save money. Contrary to popular belief, reducing your consumption won’t necessarily make a significant impact on your energy bill, so the best approach is to rather take the time to assess your energy needs to find the most cost-effective option for you, all year round.
Resolution #2 – Be happy, healthy and well
But if at some point in the year you’re not – you’re going to want to be on the right health plan. Consider your current and future health needs – a good place to start is by reviewing the events happening in your life at the moment, or in the offing at some point in 2017. It could be a child on the horizon, a wedding, or kids moving out of home. These need to be taken into account, as your health insurance policy should change as your lifestyle does.
Resolution #3 – Stop and smell the roses
The year of 2017 is about taking notice of the little things in life. Like extras on your health insurance. With your health insurance, the value lies in being covered for the extras that you actually need, rather than the many other extras that you are unlikely to claim on. You can also make life easier by considering flexible extras products that combine your separate extras limits into a single annual limit to use across different services.
Resolution #4 – Treat yo’self
Every once in a while this year you’ll probably need a time out. And what better way to spend it other than catching up on all those missed episodes of MasterChef you had to sacrifice? It’s worth looking out for quota-free offers where streaming services like Telstra TV, Netflix, Stan or Presto are included in your plan and don’t come out of your data limit. This may enable you to go on a lower data plan than if you had to take your TV streaming into account.
Resolution #5 – Don’t forget that there’s no place like home
These days many mortgage holders prefer to save by cutting back on day to day costs rather than taking the time to see if switching to a different home loan provider could ease the pressure on the household budget. It’s worth seeing what other home loan products might suit you better, as a lower interest rate could end up saving you thousands over the lifetime of the loan.
And there you go – you are set to turn over a new leaf… financially at least. Now press pause on Netflix and go to the gym!
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