Better finance

Secure your financial future with these helpful suggestions

FIRST, CLEAR YOUR DEBT Clearing debt is critical to both your short-term quality of life and your longer-term financial goals, explains Marion Mays, founder of the Thalia Stanley Group. “Some of my advice is to consolidate debt where possible, e.g. credit cards to a personal loan, and focus on one debt at a time and getting rid of it as quickly as possible. This influences confidence and motivation,” she says. Visit thaliastanley.com.au.

MAKE MONEY CHANGES NOW Financial advisor Helen Baker’s biggest advice is also the simplest: Any positive change to your personal finances now will have long-term benefits. “Review bills, refinance loans, review subscriptions, claim tax deductions and start investing,” she says. “When it comes to investing, time is your friend, so make a start and give yourself more time for it to ride the waves.” Visit onyourowntwofeet.com.au.

MAXIMISE your SUPER People often think they need $1 million in super to retire comfortably, says financial advisor Patricia Howard. “They think they will never have a million dollars in super, so why bother putting any money in,” she says. “(But) if you and your partner qualify for the age pension and save at least $100,000 each in super, you can expect to generate $1000 a month in addition to the age pension.” Visit patriciahoward.com.au.