Get Financially Fit For Summer!

It’s officially the New Year; a time when we are relaxed and rested after the Christmas chaos and enjoying those hot summery nights. But it’s also a time many are reflecting over the money they’ve spent over the holiday period, and making financial goals for the year ahead.

We’ve put together some tips to help you get financially fit this summer!

Build A Budget

Do you have a habit of getting to the say before pay day and wondering, ‘where has all my money gone?’ You’re not alone! According to the Australian Securities and Investment Commission (ASIC), in 2012 Victorians spent an average of $1225 per week on general living costs.

By building a budget you can track what you spend and where you spend it. We suggest beginning by starting with your fortnightly wage, and breaking each expense down to comply with your pay; mortgage repayments, gas and electricity bill, groceries etc. Once you know where your money is going, it makes it easier to allocate it where you want it to be; into savings, onto your mortgage etc.

Consolidate Your Debts

Did you hit the credit card a little too hard over the festive season? Perhaps you spent big on a Christmas holiday? So did 1/5 of the population! According to ASIC, about 20% of the population put the Christmas cost onto their credit card.

You can easily find yourself overwhelmed in debt, but by consolidating your debts into one loan with lower interest, or less fees, it could help you get on top of that debt faster. If you’re not sure if this is the best method for you, it’s best to speak to a financial advisor before making and rush decisions.

Chase Up Your Super

If you’ve had a few different jobs – even a casual one while at school, you could potentially have funds in lost superannuation accounts floating around. This might also mean you may have insurances within these accounts that you’re paying a premium for, or extra account fees.

Don’t stress though, you can find your lost super via the Australian Taxation Office’s online services and request a balance transfer form from each account you have active to roll it into one fund.


This communication has been prepared on a general advice basis only. The information has not been prepared to take into account your specific objectives, needs and financial situation. The information may not be appropriate to your individual needs and you should seek advice from your financial adviser before making any investment decisions.

Smart Financial Solutions ABN 61 981 146 489 Australian Credit Licence Number 364253

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