STAY­ING ON TRACK

Pilbara News - - Lifestyle -

Si­mon Podesta of­fers his top tips to en­sure a woman keeps her fi­nances on track:

Don’t ig­nore your su­per­an­nu­a­tion

— es­pe­cially while you are young and can be tak­ing your risks now rather than when you are near to re­tire­ment and want to be that lit­tle bit more cau­tious. It also pays to con­tribute ex­tra to su­per in the years be­fore start­ing a fam­ily to make sure that any time spent out of work won’t af­fect you later in life.

Have a clear and struc­tured ap­proach

to what you are do­ing with your money. If you have set needs such as hol­i­days, buy­ing a home, wed­dings etc, make sure you have sep­a­rate bank ac­counts for each one and be dis­ci­plined with adding a lit­tle bit over time and not dip­ping into it to cover day-to-day bills. If this is the case, then bud­get to see why you are spend­ing more than you are earning.

Pro­tect your­self and your fam­ily

— make sure you (and your part­ner) have enough in­come pro­tec­tion and life in­sur­ance in place to keep you out of trou­ble. An un­ex­pected death, in­jury or ill­ness can have dev­as­tat­ing con­se­quences for your fi­nances and throw away all your hard work. Even if your part­ner is the main in­come earner, you both need ad­e­quate in­sur­ance so your part­ner can pro­vide care and sup­port for you and the fam­ily.

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