Spring has arrived – and if the idea of spring cleaning your home doesn’t inspire you, consider refreshing your finances instead. Moneysmart has put together some practical savings tips that won’t require giving up your daily coffee.
In this edition, Moneysmart has also explored the advantages and risks of becoming a guarantor, how to assess your retirement readiness, and ways to review your superannuation with confidence.
Time for a budget clean up
Spring is the perfect time to review your budget and ensure you're getting the most value for your money. Start with a few simple savings tips and use a detailed budget planner to help track your spending.
Set a savings goal
Now that the budget’s sorted, why not set a savings goal? The savings goal calculator was used more than 350,000 times last financial year.
What to know about going guarantor on a loan
Spring is home buying season. If you suspect the Bank of Mum/Dad might be called on to go guarantor, here are some key things you need to know.
If you're in the market
The August cash rate reduction has flowed through to home loan rates. If you're in the market to buy, this mortgage calculator can help estimate how much you may be able to borrow, what your repayments might look like, and how to pay off the loan faster.
To do: Fact check your super account
You’ve probably received your annual superannuation statement by now (or it’s on the way). Here are five key things to check when it arrives in your inbox.
What happens to your super if you die
Superannuation doesn’t automatically form part of your estate, which means it may be tied up rather than passed on promptly. One way to ensure your super goes to the right people is by making a binding death benefit nomination. However, according to a Super Consumers Australia survey, only one in four Australians have made this nomination.
Below is a step-by-step guide to help take control of the process.