Setting future you up for success starts with financial planning and to help you save extra dollars, follow the simple steps below.
1. Get clear on your cash
Start with a budget. We don’t need to cut expenses straight up – but it’s good to understand where your hard-earned money is going. By looking at your cost of living, you can see what’s a priority, but also what’s a waste. It will help allocate funds to your financial goals.
2. Deposit amount
Define the financial goals you wish to achieve in the next few years. How much do you want to start investing and how much do you want to continue investing to build your long-term investment?
3. Create your own cash stash
Having a separate account for your ‘emergency’ money is a useful tool that can help you reach your financial goals. This account is for those times when an unexpected bill arrives, or your washing machine dies – it’s a stash of cash you dip into for emergencies, instead of dipping into your savings.
4. Save save save
Now that you have your financial goals in place and you understand your cashflow, you can put money aside to reach your investment goal.
5. Schedule a meeting
Receiving advice from professionals is a smart move to achieving your long-term goals. Reach out to a bank with interest rates that suits you and schedule a meeting for advice, that will help set future you up for success.
Whether you are planning a short or long-term investment, finding the right bank is key to watching your money grow.
To help you get started with investing, Community Bank Sarina Bendigo Bank is here to help! As a bonus – when you bank with us, you’re also helping to help others as our profits go back into the community. Since 2005, we have invested $2.7million through a wide range of sponsorships, community grants, scholarships and donations in our greater Mackay community. A bank giving back sounds unusual but for us, it's business as usual.
Call Charmaine and the team at Community Bank Sarina 07 4943 2624 to discuss your investment plan.
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