Happy New Financial Year! 🥳 🥂
This is usually only a date celebrated by those of us who work in finance, but I challenge you to join me in the fun.
Let’s go old school and grab a pen and notepad.
Take a few minutes to write down your current financial situation. What’s your mortgage or any loan balance? Credit card balance? Do you have any other debt? After pay or anything else?
Now let’s look at what you’ve got. What’s your bank balance? What do you own? How much equity do you think you have in your home? Do you own shares? Investment properties? Anything else?
Next, what do you want? Your first home? Your next home? An investment property? Less (or no) debt? Share portfolio? Help your kids buy a home? Knowledge that opening a bill won’t send you into a cold sweat?
Finally, how are you going to get it? Do you need to pull in spending for a few months? Do you need to increase your savings? Can you leverage the equity in your home to buy an investment property? Do you need to get a side hustle?
What can you do differently this financial year that will have a massive positive impact on your financial future?
Now, the challenge is to make it happen.
