- February 9, 2015
- Posted by: admin
- Category: Finance News, Financial goals, House prices, Insurance, Investment Property, Wealth
What better time than the start of a new year to review your finances and look at ways to do things better in 2015. Here are our top tips for success.
1.Find out how much equity you have
Most home owners are pleasantly surprised by what can be achieved by tapping into their equity. Depending on how much of your home loan has been paid off and the capital growth of the property, you could be sitting on untapped wealth that could be used to invest in a second, third, fourth … property!
2. Review your insurance
It’s not worth getting caught without insurance when you need it. We can talk you through the benefits of Building and Contents insurance, Life insurance, Mortgage insurance and Income Protection insurance – as well as check you’re insured at an appropriate level and are familiar with the fine print of your policy.
3.Know your borrowing capacity
If you know in advance how much you are allowed to borrow, you are in the best financial position to seize any available opportunities. Your credit score is an important determinant of your borrowing power, so it’s a good idea to keep an eye on it and take action to give yourself the best possible rating.
4. Plan for retirement
Have a good look at how your superannuation / saving accounts / investments are performing: will they provide adequate funds for retirement? The earlier you start planning, the better off you will be when the time comes.
Need help to action any of the above? Call us today.