New Year’s Eve means many things. Celebrations, fireworks, maybe some champagne. When January first hits, it’s time for those new year’s resolutions to start streaming in.
Do yoga 16 times a week. Only eat activated quinoa. Exude calm and tranquillity at all times.
Amongst these (not always realistic) new year’s resolutions will often be some financial goals. In fact, a recent survey from life admin experts iSelect has revealed that the majority (59%) of Australian households say they’re looking to be smarter with their money in the new year.
Nevertheless, while many of us enter the new year with good financial intentions we may not know exactly where to start. But financial resolutions don’t need to be unrealistic. Count down to new years with iSelect expert Laura Crowden as she explains how to turn over a new financial leaf in 2017, ticking off these resolutions quickly and painlessly.
5…Enjoy the endless summer
Whilst the holiday season might be over, summer most definitely isn’t. The most effective way to save money on your energy bills is by ensuring you’re on the best energy plan to begin with.
Reducing your consumption won't necessarily make a significant impact on your energy bill so the best approach is to take the time to assess your energy needs to find the most cost-effective option for you, all year round.
4…Walk on the wild side
But make sure you’re insured with the right health plan. Consider your current and future health needs - a good place to start is by reviewing the events happening in your life right now, or in the offing at some point in 2017. It could be a child on the horizon, a wedding, or the kids moving out of home. These need to be taken into account, as your health insurance policy should change as your lifestyle does.
3…Spend your money on what you want
And make it worth it. When you’re considering health insurance, the value lies in being covered for the extras that you actually need, rather than the many other extras that you are unlikely to claim on. You can also make life easier by considering flexible extras products that combine your separate extras limits into a single annual limit to use across different services.
2…Netflix 'n save
If you’re feeling weak at the knees after a slightly over done New Year’s Eve you might be in the mood to stream some Keeping up with the Kardashians. It's worth looking out for quota-free offers where streaming services like Telstra TV, Netflix, Stan or Presto are included in your plan and don't come out of your data limit. This may enable you to go on a lower data plan than if you had to take your TV streaming into account.
1…Score a home run
…by saving money on your home loan. It seems many mortgage holders prefer to save by cutting back on day to day costs rather than taking the time to see if switching to a different home loan provider could ease the pressure on the household budget. It’s worth seeing what other home loan products might suit you better, as a lower interest rate could end up saving you thousands over the lifetime of the loan.
And there you go – you are set to turn over a new leaf in 2017…financially at least. Maintaining your new exercise regime may not be quite so easy…
Happy New Year!
Laura Crowden works for life admin experts iSelect. When she isn't providing advice on how to find the right energy, broadband or insurance plan, Laura can be found tackling home renovations (to varying degrees of success) or eating ice cream. She loves getting a good deal, sparkly things, her cat & G&Ts.
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