Research shows that we tend to:
- Be over-confident in our debt repayment ability
- Underestimate the likelihood of things going wrong
Financial planning for families can help you create a comprehensive strategy for managing your money as you move through different life stages.
It starts with the basics – setting up a budget, paying down debt and saving – but a family financial plan can also include things like investing for retirement and setting aside money for kids.
INVESTING FOR CHILDREN
Make the most of super and get the basics right:
Track down ‘lost’ super
Consider merging multiple accounts
Review where super is invested
Consider time frame when selecting investment option(s)
Stick with a well considered investment strategy
WHY IS IT IMPORTANT?
PROTECT YOUR FAMILY
When suitable plans are not made, the consequences can be:
- Needing to sell or downsize your home
- A non-working spouse may need to return to work
- One partner might need to find a second job
- Children may need to change schools or schooling arrangements
- Luxuries such as holidays need to be reduced
Get in touch today and start find out how to protect your family’s future.
Hear from our Clients
Paper to accompany presentation to No Interest Loans Scheme Conference “Dignity in a Downturn” June 2009.
Ian McAuley, Centre for Policy Development and University of Canberra Source: Mortgage default in Australia: Nature, causes and social and economic Impacts. Authored by Mike Berry, Tony Dalton and Anitra Nelson for the Australian Housing and Urban Research Institute, RMIT Research Centre, March 2010