Westpac Internet -Getting your finances sorted

Getting your finances sorted

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Putting money aside for the future may seem a low priority, but now is the best time to start.

Where does my money go?
How do I become a good saver?
How do I start a savings plan?
What can a Planner do for me?

Where does my money go?

An important first step is to establish where you are in a financial sense. Adding up the value of everything you own and taking away all of your debts will show how much you are financially "worth" now.

Next, by preparing a budget, you can establish how much you can afford to put into an investment. The money you invest will need time to grow, so it should be additional to any savings you put aside for large expenses like holidays. Use our budget planning tool to help you.

How do I become a good saver?

You need to establish your goals up-front. Then you need to make a commitment to put aside the money required to reach them. Investments generally grow over time, so it doesn't matter if you start with a little, as long as you do start.

The investments you choose to help you reach your goal will depend on a number of factors like the amount you need to save and how much time you have to reach that amount.

How do I start a savings plan?

A savings plan is one of the best tools to help you reach your investment goals - especially if you don't have a lot to start with.

By adding a small amount regularly to a managed investment (say $100 per month), you increase the amount that is actually earning you returns.

If you'd like to see how a regular savings plan could help you, try our financial goals calculator or you can also learn more about regular savings.

What can a Planner do for me?

With so many choices and opportunities available today it makes sense to go directly to someone who specialises in financial advice. Our Planners have knowledge that a new investor can really put to good use. They can even help you establish your financial position and set realistic goals. And once you've agreed your financial plan, they will advise you on ways to put it into action.

You can schedule an obligation-free appointment with a Westpac Financial Planner now.

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