Don't wait for the New Year to get your finances in order. Our pre-summer financial health check provides 5 smart money moves for Gold Coast residents to make right now. From creating a budget and taming debt to reviewing your mortgage, these simple steps can help you prepare for the expensive holiday season and set you up for a prosperous year ahead.
As the weather warms up and the vibrant festive season on the Gold Coast approaches, our spending often starts to heat up too. Before the Christmas rush and long summer holidays take over your focus, now is the perfect time to conduct a 'Spring clean' of your finances.
A few smart moves today can set you up for a stress-free summer and a prosperous new year. Here’s your 5-step checklist.
1. Create a Pre-Holiday BudgetThe first step to financial fitness is knowing exactly where your money is going. Take an hour to track your income versus your expenses. This will immediately highlight areas where you can save and help you create a realistic budget for the upcoming (and often expensive) holiday period.
2. Tame Your High-Interest DebtsHigh-interest debts from credit cards and personal loans can be a major drain on your finances. The smartest move you can make is to look at consolidating these into a single, lower-rate loan.
- Pro Tip: Refinancing your home loan is a powerful way to roll all your debts together, potentially slashing your total interest payments and simplifying your finances into one easy payment.
3. Review Your Single Biggest Expense: Your MortgageYour home loan is almost certainly your largest monthly expense. When was the last time you checked if you have a competitive interest rate? If it's been more than 12 months, you are very likely paying a 'loyalty tax'.
- Pro Tip: A free Home Loan Health Check with us takes just a few minutes but could uncover hundreds of dollars in potential savings every single month.
4. Set a Meaningful Goal for 2026What is the big financial goal you want to achieve next year? A dream holiday? A home renovation? Or the biggest goal of all—saving a deposit for your first home on the Gold Coast? Having a clear goal makes saving easier and more motivating. We can help you create a realistic plan to get you there.
5. Get Your Professional Team in PlaceYou have a doctor for your physical health, and you should have a professional for your financial health. As your mortgage broker, we can act as your financial coach, reviewing your loans and helping you structure your finances to achieve your goals.
Don't wait for January 1st to make a resolution. A proactive financial review now is the key to a truly relaxing summer.
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