15 December 13

Planning for 2014

After all the chaos and socialising of Christmas is past,  we often get that quiet few days, which for many people can involve the couch and the Boxing Day Test Match!  But instead of watching the Poms take another hiding, you might prefer to turn your mind to some basic financial planning for 2014.  Here are some things you could do that could make a real difference to your coming year.

  • Draw up a personal budget.  So few people do it and yet it can make a huge difference to your financial position.  Look back over what you spent this year, add in an amount for increases and see what you expect to spend. How much should be left over?  If you need some help we have some simple charts & spreadsheets.
  • Review your super and investments.  If we aren’t looking after them for you, then take time to see how they have performed.  Are you in the right investment?  Do you have the right asset allocation?  If you’re not sure, give us a call.
  • Collect your important documents.  This time last year I was cleaning up after the death of my mother.  One of the biggest problems was working out what she had and where it was.  Make a list of all your bank accounts and investments.  Put all your insurance documents together. If you hold the title for your home and any other properties, put them together.  Put them with your will …..What??? Don’t have a will!!  Ring me immediately and we can discuss what you need to do.
  • Don’t forget your online documents.  Do you own internet domain names or other internet ‘real estate’?  What about all your email addresses, Facebook, LinkedIn etc… If you weren’t there could someone else find all these accounts to monitor them ,close them down, or sell them? So collect all this information together.  If you want somewhere to collect all this information, we have found a guy who makes a folder for keeping track of all these documents and information.  We can arrange for you to get one.
  • Finally, set some goals for 2014.  It’s a rather tired statement but its so true; The reason most people don’t achieve their goals is that they never set any in the first place.  Most people spend more time planning their holidays than they do planning their life.  So have a think about what you’d like 2014 to be and WRITE IT DOWN! If you need some inspiration, there are some great books on goal setting that we could recommend.