Spring clean your finances and save with these simple tips

): All it takes is giving your money a spring clean and you could save hundreds of dollars every year!

  • 12 October 2021

    Ready for a spring clean? Don’t forget your finances! Giving your money matters a quick once over this spring could help you find some healthy savings for summer.

    Two young women tend to their garden.

    Disclaimer: The information contained in this article is of a general nature only and should not be taken as financial or legal advice on any of the topics discussed. Always consult a financial adviser before making any investment decisions.

    Quick and easy ways to spruce up your finances this spring:

    Give your bank statements a quick check up

    Could you have spending leaks in your budget that are draining dollars away without even knowing? Run an eye over your recent bank statements (including your credit card account) to see if you’re still paying for things like fitness memberships, entertainment subscriptions or recurring subscriptions for computer software or services that you no longer use. You might be surprised what you find if you haven’t given your bank statements the once over for a while. Taking some time this spring to do just that could save you hundreds of dollars in unnecessary spending leaks - that’s more in your pocket for summer fun or savings!

    Create or update your budget

    Spring is a great time to review your budget too. Don’t have a budget yet? Now’s the perfect time to set one up! It doesn’t have to be complicated either - you just need to make sure it reflects your earnings and outgoings as accurately as possible so you get a clear picture of how much you’ll have left over at the end of the month to put towards your savings goals like that beach holiday or home deposit. Keep an eye out for areas to cut back on spending too - could you spend less on home delivery or nights out? Can you do without that yoga membership you hardly use? 

    Get a home loan a health check

    Chances are, since you first signed up for your home loan, it might not be offering the most competitive interest rates on the market or the loan features you need most like offset or redraw facilities. Getting a health check on your home loan is a great way to see if your loan is still fit for your purpose. Could you be saving a packet on interest? Are you missing out on flexible features that let you pay your loan down faster or redraw additional payments when you need an injection of funds? Getting a home loan health check is a great way to find out.

    Our Lending Specialists can help you weigh up your options, compare home loans and find the best value deal for you, either in person (covid depending), over the phone or via video call.

    Why not book a call back to see how much you could save?

    Roll over your super

    Over the years many of us end up with more than one superannuation account - in fact it’s quite common to accumulate two or three accounts without even being aware. But it’s important to know when you have multiple accounts you’re paying account fees on each one. Rolling your hard-earned super into one simple account is an easy thing you can do this spring to save yourself dollars for years to come.

    Check your energy plans

    Energy providers can dangle the carrot of competitive plans to get new business but those plans often roll over into less competitive deals after the first year. Now’s the perfect time to check your bills to make sure you’re not paying too much. With summer cooling costs like aircon, fans and pool filters just around the corner, making sure you’ve got the best energy deal now can keep you from splashing more cash than you need this summer.

    Why not get off to a fresh start on your savings this spring? Putting even one or two of these quick tips into action could help you save hundreds. 

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