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A 5-Point Checklist on What to Focus On with Your Finances

As we enter 2022, it becomes increasingly clear that life changes are evident. You might be starting a new job, welcoming a new member of your family and receiving news that will change the trajectory of this year. It’s paramount that you don’t lose sight of what’s important during these times.

For your and your loved one’s sake both now and in the future, it’s a must to get your finances all in order. Here are a couple of points that you should check in with and focus on:

1) Start Making A Habit of Saving

Working hard and earning money is great to sustain your lifestyle and provide your loved ones with their needs. However, it’s important to increase your saving and regulate where your money is going, as you might be making unnecessary expenses.

For example, if there’s an unused subscription or you’re ordering too much when there’s food at home, it’s ideal to cut back. Have extra funds that you can use in case of emergencies or allocate it for future plans and ventures.

2) Understand Your Investment Options

Having money usually entails getting into the wonderful world of investments so that you can earn more rather than letting the cash go stagnant. Try to get the basics and learn what options you’ll be facing in the future to determine what kind of investing approach you should take.

Investing can be such a foreign practice though, especially if it’s your first time to get into all of it. Try to seek out a financial advisor to discuss with, as they can help you get started and potentially guide you in the process. 

3) Take Time to Plan Your Retirement

It isn’t realistic to work beyond your 60s, so it’s important to have a plan of what to do once you aren’t able to sustain having a job anymore. Retirement planning is quite important to take note of, so be sure to start saving early and have a target price.

Every person’s ideal retirement plan is subject to their circumstances and priorities later on in life. If you have a kid whose education you want to pay for or a grand travel plan to follow through with, be sure to discuss it with your financial advisor. 

4) Combine Super Accounts

Most life changes such as taking time off from work or shifting jobs may lead to weaker super accounts. It’s ideal to put everything into one account and to boost your savings in it when you can. A financial advisor should be able to walk you through this stage of managing and making the most out of your super.

5) Reassess Your Insurance

Preparation is key, even with your finances. Insurance coverage can ensure that your loved ones will still be looked after even when you aren’t there anymore. Just reassess your insurance plan and see whether it accommodates all the unexpected circumstances that can happen to you so that your spouse and children can make a claim.


By setting these financial goals, you can have a better mindset and focus on working towards them. Check these tasks off your list with a financial adviser who can help you with your overall life plan.

Want to come up with the best retirement plans? Coastal Advice Port Macquarie works with clients all over Australia so that they can enjoy their dream retirement. Contact us today!

Want to learn more tips to retire debt-free? Check out these interesting blogs!

Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.
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