Canny Advisory l Help To Spring Clean Your Finances
SPRING CLEANING YOUR FINANCES
Who doesn’t love spring? The days are longer, the weather is getting warmer, and flowers and trees are starting to blossom. And, it is often a time to clean those things we don’t do regularly. I am going to suggest it is also a great time to spring clean your finances! Canny Advisory l Help to spring clean your finances and here’s how:
- Take stock of your current position by completing a budget. There are many free apps available that link to your bank account and do all the hard work for you! They automatically categorise your spending into different segments. If you notice an error, it is easy to reassign the transaction to the correct category and your app will remember the next time.
- De-clutter financial paperwork around the house. You only need to keep tax related documents for seven years. You could even go one step further and save the remaining required documents electronically.
- Review your life insurance policies! How much cover do you need? Do you have enough? Do you still have insurance cover inside super? Many people inadvertently lost their insurances held inside inactive super funds or funds with smaller balances when some sweeping rules were introduced during the past couple of years.
- Consolidate bank accounts. If you have multiple accounts, is there a specific purpose? If there is no valid reason, simply your affairs and potentially save on bank fees in the process.
- Review current debts. Have you approached your lender for a better rate? If you have credit card debt, can you switch to an interest free one until you pay it off?
Canny Group have an army of financial advisers and we are more than happy to help you give your finances a spring clean! All you need to do it get in touch.
Samantha Butcher – Financial Adviser
BComs Dip FS