Spend less than you earn
Pay off your mortgage fast
For most Australians their own home is one of their largest assets.
• The growth is not taxable
• Shop around to ensure you have the best interest rate / loan package
• Consolidate higher interest rate debts
• Make additional payments where possible
Do a budget & protect what you’ve got
You will save money, simply by understanding where you are currently spending money.
• Shop around
• Shop online (financial products from YourShare.com.au)
• Buy generic products where possible
• Use discount brochures
• Include a treat for your self
• Insure anything you can not do without
• Income protection
• Life insurance
Reduce high interest debts
• Reduce debts that are non deductible and chew up your money
• Credit cards & store cards
• Hire purchase & personal loans
• Pay off mortgages and personal loans over investment related loans (pay off non tax deductible loans first)
Tax and maximise your entitlements
Make the most of your tax rebates and offsets
Ensure you are getting your full entitlements
• Spouse Co-contributions
• Salary sacrifice
• Medical expenses over safety-net threshold
• Baby bonus
• First Home Buyers grant
• Dependant spouse rebate
• Private health insurance rebate
Cut Fees and commissions
Fees and commissions on - managed funds, superannuation, pensions, annuities, master trusts, wrap accounts, margin loans, and insurance policies.
• Cut upfront commissions to nil
• Cash Back on your fees and commissions
It’s not how much you earn that matters, it's how much you spend.
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