How many times have you made your new year’s resolutions on 1 January only to see them turn to dust by February? Be truthful… most of us are guilty! So where do we usually go wrong?
Most of us lack a clear goal. And without a clear goal it’s trickier to plan how we are going to get there!

Do you know what are the 10 most BROKEN new year’s resolutions?
They are:
1. Get fit
2. Quit smoking
3. Learn a new skill
4. Stop spending and save
5. Spend more time with family
6. Travel more
7. Give up the booze
8. Do some volunteer work
9. Calm yourself
10. Eat better*

Does it surprise you that the 4th most broken new year’s resolution is all about getting out of debt? No? Then it probably won’t surprise you either that unless you kick your debt habit your financial goals are unlikely to be realised in 2018!

So… forget broken resolutions – make this THE year of YOUR finance evolution!

Getting started…

There are various ways to reduce debt and create financial security. We saw a number of clients towards the end of last year who decided to make this year ‘the one’. And we helped them make a head start!
Setting clear financial goals this month will inspire you to make the necessary changes to help improve your financial situation all year!

If you are one of many who plan to get out of debt this year and kick new financial goals, here are some ideas for consideration by you and your family:

I am going to get a better paid job
Changing jobs is now common – the average Australian stays with their employer for 3 years and 4 months**. Obviously a higher salary may help underpin your financial goals but you should also be aware that lenders like to see income that is reliable, stable and likely to continue for at least three years. A lender will view a new job more
favourably if you are making an upward, or at least lateral, move within the same industry.

‘If a new job AND a loan application are on your radar this year, make sure you chat to us BEFORE you change jobs.’

I am going to save the deposit for my first home
Have you been battling to save the minimum deposit? Then clearing debt – and minimising credit card limits – is one of the FIRST steps to improving your chances.

Did you also know that if you have a continuous rental history of more than 12 months, many lenders will now consider your rental payments as regular savings?

Speak to us and we will explore your individual circumstances to see if we can help get you into your first home sooner.

I am going to help the kids buy their first home
Many parents would love to help their kids enter the property market but it’s often a matter of balancing their own needs with the needs of their family. As a parent you may know it is possible to act as a guarantor allowing your child to obtain finance with a smaller deposit. But did you know that you can also limit the amount
of guarantee required over your assets? This means that you are only required to guarantee the shortfall in the deposit, not the total amount of the loan. Chat to us to find out how it works.

Haven’t set yourself a goal yet? Contact us on 1300 857 762 for our 2018 financial evolution worksheet.

*. www.finder.com.au/commonly-broken-new-years-resolutions
**. www.mccrindle.com.au